Peter Schiff warns Iran will win this war without ground invasion, calling it Trumps biggest foreign policy mistake

Thursday, economist and co-founder of Echelon Wealth Partners, Peter Schiff, criticized the war in Iran as a foreign policy mistake, taking aim at President Donald Trump’s administration amid escalating tensions in the Middle East.

Do not “advocate” a ground invasion

In a post on X, Schiff expressed his disappointment with the Trump administration’s handling of the war in Iran. “Absent a U.S. boots-on-the-ground invasion and occupation, it’s clear Iran will win this war,” he declared.

He added that Iran’s influence in the Gulf region would increase post-war, giving them “control over the Strait of Hormuz,” which they did not have before.

In the same thread, Schiff elaborated on his views. “I’m not advocating for an invasion of Iran,” he clarified, stating his opposition to the war from the beginning. He went on to label it as “one of the greatest foreign policy blunders in U.S. history.”

The war in Iran

Schiff’s comments come as the conflict in Iran intensifies amid Trump’s meeting with Chinese President Xi Jinping. Trump revealed that Beijing agreed to buy oil from the U.S. and Boeing Co. received an order for 200 planes from Chinese companies following the talks.

Xi also expressed support for U.S. efforts involving Iran at the end of the first day of negotiations. Meanwhile, Iranian parliament speaker Mohammad Bagher Ghalibaf criticized U.S. War Secretary Pete Hegseth as a “failed television host.”

UKMTO incidents, oil and gas prices

The United Kingdom Maritime Trade Operations (UKMTO) reported an incident on Thursday, stating that a ship was taken by “unauthorized personnel” while anchoring near Fujairah, UAE, and later heading towards Iranian territorial waters.

Additionally, the national average price of a gallon of gas was $4.534 on Thursday, with diesel averaging $5.667 per gallon. Californians were paying the highest average gasoline price at $6.147 per gallon.

West Texas Intermediate (WTI) crude oil was trading at $102.6 per barrel, while Brent crude was at $107 per barrel, up 1.22%. The United States Oil Fund (USO), an exchange-traded fund (ETF) tracking WTI, rose 0.17% to $143.25 during Thursday’s after-market trading.

Photo courtesy of Shutterstock