Trump on CNBC: 'Surprised' Stock Market Held Up; Oil at ~$90, Expected $200

President Trump appeared live on CNBC's 'Squawk Box' at 8:30 a.m. ET on April 21, 2026 for a wide-ranging interview covering Iran, markets, tariffs, and the Federal Reserve. On the Iran war, Trump said he expected to 'end up with a great deal' and was 'surprised' by the stock market's resilience — he had anticipated the Dow dropping 20% and oil hitting $200/barrel, but oil was instead trading 'around $90' (significantly below the $116/barrel peak after the April 20 Touska seizure, as markets responded positively to the ceasefire extension). On the Federal Reserve, Trump discussed Kevin Warsh's nomination and his expectation of interest rate cuts once inflation settles. On tariffs, Trump said he imposed duties on Switzerland, Denmark, and other countries that 'were making significant profits' from US trade. He also mentioned Anthropic's potential Department of Defense contract as an example of American technology leadership. Trump's appearance was seen as a move to reassure markets and signal confidence in a diplomatic resolution with Iran. The interview came hours before he formally announced the ceasefire extension.