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Trump's Iran "Deal" Is a Giant Bag of Dog Sh💩t

It's not a deal. It's a memo of understanding in advance of a surrender of the American-led world order.

Jonathan V. Last's avatar
Jonathan V. Last
Jun 15, 2026
∙ Paid
Photo illustration by The Bulwark / Photos Getty

1. Always Right

On Friday I explained to my best friend, and later to Catherine Rampell, that I believed we would get a “deal” with Iran this weekend. I said that it was likely to be announced shortly before the White House cage fight, with a signing to take place later this week. In Switzerland.

There’s a reason we sell the shirts stickers.1

I’m going to explain my thought process. And then, we’re going to talk about what this “deal” is, what it isn’t, and what it means for the future.

This is my value proposition. If you want to see around corners, join Bulwark+.

Now let’s get to Trump’s surrender.

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