President Donald Trump said the United States has reached an agreement with Iran involving the Strait of Hormuz and suggested a separate deal on denuclearization could also come later. He made the remarks aboard Air Force One on his way from New Jersey to the White House, telling reporters that talks would begin “tomorrow afternoon.”
Trump said the administration’s approach has been to negotiate through dialogue with Iran. He also called off what he described as a major attack on Iran, saying it would have been “by far the biggest attack since World War II.”
Markets reacted quickly to the comments. Brent crude futures fell 7% to $83.78 a barrel at 6:35 p.m. Eastern time, while West Texas Intermediate dropped 4.6% to $80.78 a barrel.
Trump also addressed why he had intervened in foreign-exchange markets to support the Japanese yen, saying it was because of the close U.S.-Japan relationship. He said Japan had been struggling with a weak yen and “wanted a little help,” adding that the U.S. always steps in for Japan.
