Oil tankers continue to navigate the Strait of Hormuz, and Iran’s efforts to disrupt traffic through this crucial shipping passage have not impacted the U.S. economy, according to White House economic adviser Kevin Hassett.

Speaking with CNBC on Tuesday, Hassett expressed confidence that the conflict would conclude in weeks rather than months, aligning with the Trump administration’s stance on the matter.

“We’re already witnessing tankers beginning to pass through the strait, which indicates Iran’s waning influence,” Hassett remarked.

He further stated, “We remain optimistic that the situation will resolve in the near future. Following this, there may be temporary fluctuations in oil prices as shipments reach refineries.”

Hassett also highlighted concerns about a potential decrease in refined oil exports from Asia to the United States, due to Middle Eastern supply constraints.

“We’ve observed indications that Asian countries might be scaling back their exports to safeguard their own energy reserves. Rest assured, we have a plan in place to address this,” he added.

Trump on Monday postponed his meeting with Chinese President Xi Jinping to focus on the war in Iran.

Hassett said the US action in Iran is in China’s interest.

“This is one ‌case where the objectives of both countries are aligned, that we want, you know, a stable world oil market,” he said.

“When this war is over, which will be sometime soon, I’m sure they’ll get together and have a lot to talk about, and hopefully the Chinese will express some ⁠gratitude.”

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