The stock market might churn out daily numbers, but the real economy is made of deals that keep the lights on and the bread on the table. Today, the price of that stability is being tested by a transatlantic rift over Iran. Donald Trump’s on-off approach to the nuclear accord has left many scratching their heads, but for working families in the North, the stakes are clear: a conflict pushes up oil prices, and that means higher costs at the petrol pump and the supermarket till.
Trump pulled out of the Joint Comprehensive Plan of Action in 2018, then signalled willingness to negotiate. Now his administration is tightening sanctions again. Critics call it a flip flop. But is there a deliberate method behind the zigzag? The answer, as with most things in international diplomacy, is complicated.
The UK, meanwhile, is holding the line. Despite American pressure, British officials continue to insist that the nuclear deal remains the best way to prevent Iran from developing a weapon. This is not about ideology: it is about predictability. A stable Middle East means stable energy prices. That matters more to a Rochdale mill worker than to a Wall Street trader.
For the unions, this issue is personal. The TUC has long warned that foreign policy adventures come at a cost to working people. A war with Iran would send oil prices through the roof, hitting the poorest hardest. Already, families in the North are struggling with energy bills. Another spike would push some over the edge.
So what is Trump’s strategy? Some argue it is simply chaos. Others say he is trying to force a better deal. The UK government, led by a prime minister who once called the nuclear deal a mistake, now finds itself defending it. This is not a flip flop: it is pragmatism. The British know that a collapse of the deal would destabilise the region and hurt the economy at home.
There is also the question of prestige. The UK was a key architect of the original agreement. Abandoning it now would weaken Britain’s standing on the world stage. And at a time when post-Brexit trade deals are being negotiated, a reliable reputation matters.
Back in the real economy, the impact is already being felt. Petrol prices have crept up in recent weeks. The cost of imported goods is rising. Every time a politician in Washington or London makes a bellicose statement, the markets twitch. For a family in Manchester budgeting for the month, that uncertainty is a knot in the stomach.
The unions are calling for calm heads. They want the UK to maintain diplomatic pressure and resist any American call for military action. This is not about being soft on Iran. It is about preventing a war that would be paid for by ordinary people.
In the end, the question is not whether Trump is flip flopping or being deliberate. The question is whether the UK can hold its nerve and protect the interests of its citizens. That means keeping the nuclear deal alive, even as the winds from Washington shift.
The price of bread and the price of peace are connected. The sooner politicians realise that, the better for everyone.
