Trump Takes Hard Line on Iran | Radio Balance of Power: Early Edition 8/18/2026

Summary

Bloomberg's "Balance of Power" covers the geopolitical and market fallout from the ongoing U.S. conflict with Iran, including the expiration of a memorandum of understanding and the status of the Strait of Hormuz. Former National Security Advisor Jake Sullivan criticizes the administration's handling of the Middle East, South Korea, and Ukraine, warning of long-term strategic costs. The program also previews key primary elections and features Texas gubernatorial candidate Gina Hinojosa discussing her campaign's focus on regulating data centers and immigration policy.

• U.S. markets face pressure from sinking AI stocks, rising bond yields, and geopolitical inflation fears.
• The U.S.-Iran conflict continues with no scheduled talks and uncertainty surrounding the Strait of Hormuz.
• Jake Sullivan warns that the U.S. is in a strategic cul-de-sac with Iran and will likely have to accept a bad deal.
• Sullivan criticizes the scaling back of military exercises with South Korea, citing risks to critical semiconductor partnerships.
• A political panel discusses the impact of the Iran conflict and high gas prices on the upcoming midterm elections.
• Texas gubernatorial candidate Gina Hinojosa calls for a moratorium on data center expansion in rural Texas to address unregulated growth.