“They don’t have a navy. They don’t have an air force. They don’t have any equipment,” Trump continued.

Trump’s comments come nearly three weeks into the U.S.-Israel war against Iran, which has turned into a broader regional conflict. They signal no quick end to the conflict, which sent stocks tumbling on Friday and has caused oil prices to soar

Earlier Friday, Trump said in a phone call with MS Now’s Stephanie Ruhle that the U.S. could end the war “right now” but that he planned to press on with the offensive.

“I think we’ve won,” he said Friday from the South Lawn. “All they’re doing is blocking up the Strait [of Hormuz]. But from a military standpoint, they’re finished.”

cnbc.com - Trump iran war ceasefire

I think he genuinely doesn't understand that if they are still able to block the Strait of Hormuz, they aren't finished, from a military standpoint.

It doesn't much matter that they don't have a navy or an air force - those were never the source of Iran's power to resist the United States. It's always been their ability to use a very small amount of material (a few missiles, boats, or now drones) to cause massive disruption in the global energy supply. It's devilishly difficult to conclusively end an opponent's ability to conduct asymmetric warfare. Which is why we haven't opened the Strait ourselves, and why we are sending more military resources to the area. Despite the fact that "we've won."

I still love the one phrasing of it, which captures it perfectly:

"Trump Declares Victory, Vows to Fight On!"