WASHINGTON: US President Donald Trump signaled Sunday he is prepared to let economic pressure mount against Iran, apparently backing away from ordering more military strikes even as Tehran issues tough demands. "We are low-keying it," Trump said, according to the news outlet Axios, which said it spoke to him in a brief phone call. The strait's blockage by Iran since the war started has sent fuel prices soaring and rattled the world economy, putting pressure on the Trump administration as midterm elections in November grow nearer. We are just watching Iran with its huge inflation and the fact they have no money," Trump was quoted as saying. Trump also said oil prices are falling so American consumers are feeling less pain from the war.