Marshall Plan

Donald Trump's Iran deal commits the U.S. and regional partners to providing Iran with $300 billion for economic development, compared to the Marshall Plan's $13 billion for postwar Europe. The vague memorandum includes Iran's pledge not to build nuclear weapons and to downblend enriched uranium, but lacks details on enrichment limits and future Strait of Hormuz tolls. Sanctions relief will occur in stages, starting with oil exports and frozen asset releases.

In 1947, President Truman's secretary of state, George C. Marshall, proposed a post-World War II economic aid program during a commencement speech, which became the Marshall Plan. The initiative aimed to rebuild war-torn Europe, including both allies and former enemies, and had a monumental impact on global recovery.