Iran “would love” to reach an agreement with the United States, but is not yet ready for “the right deal,” U.S. President Donald Trump said Friday.

Trump stressed that the US has complete control over the Strait of Hormuz and its environs. He also explained that his government is doing something extreme with economic warfare does not bar the nation from military measures.

These comments come on the heels of a recent promise to inflict severe damage on the Iranian economy. Reiterating the position, US Treasury Secretary Scott Bessent revealed that Washington is set to take “unprecedented action against Tehran that has never been seen before.

Trump, in his focus on the nation’s domestic unrest, asserted that Iran is now struggling to pay their police and soldiers. He also claimed that the country has a huge inflation rate of 350%.

These statements were swiftly rebutted by Iranian state-aligned media. But several sources rejected the president’s figure of 350 percent inflation, saying the figure has nothing to do with their real-world economic circumstances.