President Trump’s attendance at the G7 summit in France has sparked discussions about what the Iran peace deal could mean for the U.S. economy in the coming weeks.

The summit is an annual meeting among seven nations — Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, along with the European Union — to coordinate global economic and security policies. The meeting comes a day after Trump announced a peace deal between Iran and the U.S. to formally end the war.

Stephen Moore, a former White House economic advisor for Trump and author of “The Trump Economic Miracle,” says the U.S. is on the cusp of a powerful economic surge.

“This is a pro-business president,” he told Just the News on Monday, noting that people are leaving European countries because of their less-than-ideal economic policies. He specifically cited Germany, which is edging towards a recession.

“People are angry when they go to the grocery store, the gas pump … health care is expensive,” Moore said. However, he believes the U.S. is trending towards becoming an “Elon Musk rocket ship” — a reference to SpaceX shares rising over 20% on June 12, which pushed Musk to become the world’s first trillionaire.

“I love capitalism, and Trump does too,” Moore said. He also mentioned that in the top 20 of Forbes’ world’s billionaires list, 15 are American, adding, “what America is doing is working.”

Within the U.S., he compared the economic status of left-wing versus right-wing cities, noting that for the first time in American history, the South is the dominant economic region. Moore believes this is because millionaires and billionaires in states like New York and California are fleeing due to increased taxes on wealth. Less regulation in the South has led to its economic success.

He also thinks the economy will balance out, predicting wages and income will increase while inflation decreases.

Katherine Pugh is a reporter for Just the News. Follow her on X for more coverage.