Trump cancels strikes, cites progress on Iran peace deal

Trump canceled planned strikes on Iran, citing progress toward a peace deal. The agreement could end hostilities and reopen the Strait of Hormuz, but Iran has not confirmed it yet.

President Donald Trump announced the cancellation of planned military strikes against Iran, citing significant progress in negotiations and the near-finalization of a comprehensive agreement. He described the deal as a "great compromise" expected to end the conflict with Iran, with a signing ceremony potentially taking place soon in Europe. The agreement reportedly addresses key points of contention and aims to de-escalate military tensions, though specific details remain limited. Trump also mentioned that the strategically important Strait of Hormuz would be reopened following the agreement, which could help normalize trade and energy flows in the region. Market reactions were positive, with US stock indices rising by about 1,000 points. However, Iranian sources have not confirmed the agreement, and some reports indicate that Iran has yet to agree to any memorandum of understanding. Observers are awaiting official statements and further diplomatic developments.