Washington: US President Donald Trump has said the conflict with Iran is “close to being over”, asserting that a blockade of Iranian ports is now fully in place and that Tehran has been “hit very hard” amid escalating tensions over its nuclear ambitions.

In an interview to Fox News at the White House, Trump said the US response had triggered a strong reaction. “Well, it's been pretty amazing actually… we've obliterated them,” he said, adding that the outcome would depend on how events unfold. “It only matters what the end result is… and maybe it'll happen fairly soon.”

He reiterated that preventing Iran from acquiring a nuclear weapon remained the central objective. “They cannot have a nuclear weapon. And if they're gonna have a new nuclear weapon, we'll be living with them for a little while. But I don't know how much longer they can survive,” Trump said.

The President suggested the US retained the capability to escalate further but had chosen restraint. “We could take out every one of their bridges in one hour… every one of their power plants… We don't want to do that because someday you're gonna have to rebuild,” he said.

Trump also claimed that Iran’s military capabilities had been severely degraded. “They have no navy, they have no air force… they have no anti-aircraft equipment… no radar,” he said, describing the current leadership as “a new regime” that he characterised as “pretty reasonable… by comparison.”

On the geopolitical front, Trump said there had been no pushback from major powers or regional actors. “No, I had none,” he said when asked about reactions from China or Saudi Arabia.

Turning to the economic fallout, Trump acknowledged short-term disruption but projected a rapid recovery. “There's a hit because… we go through it for whatever it is, six weeks. There's gonna be a hit, but it's gonna recover,” he said.

He pointed to oil prices as a key indicator, noting they were lower than expected despite the crisis. “If you told me that we were gonna be at only 92 a barrel… I would've been very surprised,” he said, adding that prices would fall further once the conflict ends. “Gasoline's coming down very soon and very big.”

Trump also expressed confidence in financial markets. “When this is over, I think the stock market is gonna boom,” he said, citing earlier gains in major indices.

In response to a question, the president defended his push for a Republican-led reconciliation package, describing it as a vehicle to pass key measures without Democratic support.

Trump highlighted tax changes, including “no tax on tips… no tax on social Security… no tax on overtime,” and claimed refunds were already reaching households. “People are getting refunds of 5,000, 8,000, $11,000 that they had no idea they were getting,” he said.

He also underscored border security funding as a priority, while keeping the legislation “sort of slim” to ensure passage.

The remarks come amid heightened global concern over the Strait of Hormuz, a critical chokepoint for global oil supplies. Any sustained disruption there has immediate implications for energy-importing economies, including India, which relies heavily on Gulf crude.

Washington has long maintained that Iran must not develop nuclear weapons capability, a stance shared by several Western allies. Tehran, however, has consistently denied pursuing nuclear arms, even as tensions over its programme have periodically escalated into military confrontations.