Donald Trump
Bolatito Mercy
President Donald Trump said on Monday that the United States and Iran are having “good talks” and that there is a “good chance” a deal to end their conflict could happen. Speaking aboard Air Force One and later at a rally in Michigan, he said Washington had suspended a two-week air campaign on Saturday to give diplomacy a chance. “I think there’s a good chance that something could happen, and if it does, good, if it doesn’t, we go back to doing what we were doing two days ago.
The pause follows nearly five months of fighting that began in late February with US-Israeli strikes on Iran. After 13 nights of renewed US bombing, military commanders reportedly advised Trump they were running out of targets. Iran responded with attacks on US bases in neighboring countries that killed four service members, and with strikes on Gulf infrastructure. For three days now, both sides have held fire.
Trump described the current negotiations as “very deep talks” and said Iran wanted to talk “because we’ve been hitting them very hard”. At the Michigan rally he added: “You can’t bribe them. You’ve got to beat them, and we’ll beat the hell out of them. But we’ll see how it turns out. Right now, there are very friendly negotiations going on”. He also said the US has “a lot of ammunition” and can resume strikes quickly if needed.
Tehran’s public stance is more cautious. Iran’s Foreign Ministry spokesman Esmail Baghaei said on Monday that messages are being passed through mediators and Iran has not forsaken diplomacy, but reports that Iran requested negotiations were “fabricated”. “This is not in our DNA,” he said. A senior Iranian official told Reuters Iran would halt its own attacks as long as Trump’s ceasefire continued.
A key part of the discussions involves the Strait of Hormuz, through which 20% of the world’s oil passes. Negotiating teams from Iran and Oman are reportedly trying to reach a deal to resume shipping. Trump has said the framework being discussed would reopen the strait and that “final aspects and details of the deal are currently being discussed”. Iranian Foreign Minister Abbas Araqchi also spoke with his Omani and Saudi counterparts on Monday about regional cooperation.
The diplomatic push comes amid continued regional flare-ups. On Monday, Saudi Arabia said it shot down drones aimed at petroleum targets in Riyadh that were allegedly launched from Iraq by Iran-backed groups. Yemen’s Houthis also claimed attacks on a Saudi oil pipeline. Iran’s military command accused the US of threatening vessels in its waters and “attempting to implement an illegal maritime blockade.
Markets reacted to the pause in fighting. Oil prices fell on Tuesday, with Brent down 2.5% to $83.76 and WTI down more than 2% to $80.74, after dropping sharply since the US stopped strikes. Analysts noted the industry entered 2026 expecting a difficult year, but got a price surge instead.
Despite Trump’s optimism, major gaps remain. Iran says no direct talks are happening and that management of Hormuz must be decided by Iran and Oman. Trump has previously set conditions including that Iran “never have a Nuclear Weapon” and that Hormuz be open with “no tolls”. He is also scheduled to meet Israeli Prime Minister Benjamin Netanyahu in Washington on Tuesday, even though Israel has not been part of the current peace talks. For now, both sides say they will keep talking — but Trump warned that if it fails, “we go back to doing what we were doing two days ago.
