Trump says agreement with Iran on ceasefire, Hormuz expected ‘over the next week’

US President Donald Trump said he believes Washington and Tehran could reach an agreement within the next week to extend the current ceasefire and reopen the Strait of Hormuz, a vital global shipping route.

Speaking to ABC News, Trump said he has not yet approved a memorandum of understanding related to reopening the strait, adding that negotiators are still working through several outstanding issues.

Trump has repeatedly described the proposed agreement as being in its final stages, though Iranian officials have said no final deal has been reached. The talks come amid heightened regional tensions and concerns over disruptions to global energy supplies.