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US Allies in Persian Gulf Exasperated as Iran War Escalates | Bloomberg Businessweek
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July 21, 2026
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US President Donald Trump minimized the prospect of immediate talks with Iran as the two sides exchanged strikes and Houthi militants in Yemen threatened shipping in the Red Sea.
Trump vowed on Tuesday to respond if the Iran-backed group disrupted that waterway, but didn’t specify how.His comments came after the 10th day of US and Iranian attacks and as mediators continued efforts to restart negotiations. Oil prices ticked higher amid the threats to key routes for global energy supplies.
“They want to desperately meet and until they’re ready to meet in a meaningful way we have no interest,” Trump said at a White House meeting with Lebanon’s president, vowing to continue the fight.
On this episode, Carol Massar and Tim Stenovec speak with:
Jennifer Welch, Bloomberg Economics Chief Geoeconomics Analyst
Charles Schwab CEO Rick Wurster
Timna Tanners, Wells Fargo Equity Research Managing Director on Aluminum and metals latest
Madison Muller, Bloomberg News Healthcare Reporter on Novo Nordisk Sues Eli Lilly in US Over Obesity Drug Ads
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Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.
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