Trump hints at Hormuz reopening amid hopes for Iran peace deal in World Economy News 07/05/2026 President Donald Trump has suggested that the Strait of Hormuz will be “OPEN TO ALL” should Iran agree to U.S. demands, as hopes have grown that a deal to end the Middle East conflict may be edging closer. In a social media post, Trump said that the U.S. assault on Iran, which Washington began with Israel in late February, “will be at an end” if Tehran “agrees to give what has been agreed to.” Trump did not elaborate further on what promises Iran had made, but threatened to resume bombardments “at a much higher level and intensity than it was before” should a deal fall through. He has claimed that “great progress” has been made in reaching an accord. But the president told the New York Post that it was “too soon” to start thinking about possible in-person discussions with Iran. Meanwhile, an Axios report said the White House believes that it is nearing a deal with Iran on a one-page memorandum of understanding to end the war, adding that the document would lay out a framework for more detailed nuclear negotiations. Washington expects Tehran to respond on several major points within the next 48 hours, the report said. While nothing has yet to be agreed, this was the closest both sides have come to concluding the conflict since the outbreak of the fighting in late February, Axios said. A potential deal would see Iran commit to a moratorium on nuclear enrichment, while the U.S. would agree to remove sanctions and release billions of dollars in currently frozen Iranian funds. Restrictions on the Strait of Hormuz would also be lifted to once again allow transit through the chokepoint, Axios reported. An Iranian foreign ministry spokesperson said they were “evaluating” Washington’s proposal, CNBC reported. Pakistan, which has served as a mediator between the U.S. and Iran, also confirmed that both sides are closing in on an agreement, Reuters added. Iran has indicated that it w