US says Iran war has cost $37.5 billion, Trump threatens new strikes

In late July 2026, US Defense Secretary Pete Hegseth told Congress that the war in Iran has cost the United States about $37.5 billion so far. He made the statement during a heated budget hearing where he defended the Pentagon's funding request.

Meanwhile, President Donald Trump announced that the US plans to strike a site in Iran called 'Pickaxe Mountain,' which experts say may be a new nuclear facility. Trump said the attack would happen 'pretty soon.' The developments come as some analysts warn the conflict could consume the rest of Trump's presidency.