President Donald Trump said on Tuesday, ahead of another scheduled meeting with Tehran, that Iran would rather strike a “deal” than the United States as the U.S. military builds up in the Middle East.
According to CNBC’s Joe Kernen, in a pre-statement meeting hours before his State of the Union address in Washington, D.C., President Trump said that Iran’s refusal to commit not to develop nuclear weapons remains a key obstacle to a deal.
The United States and Iran are scheduled to hold talks on Thursday in Geneva, Switzerland, focusing on Iran’s nuclear program.
Iranian Foreign Minister Abbas Araghchi told CBS’ “Face the Nation” on Sunday that he was still working on the proposal and that Tehran’s political leadership had not yet approved it. He said the proposal would consist of elements that take into account the “concerns and interests” of both sides.
Araghchi added that the proposal would be discussed in Geneva and both sides would work on a document to reach a “quick agreement.”
Early negotiations failed to lead to a meaningful breakthrough, and tensions escalated, with President Trump threatening to launch limited airstrikes against Iran.
After the second round of talks in Geneva last week, Iranian President Masoud Pezeshkian wrote in a post on X on Sunday that recent talks “show encouraging signs” but warned that Iran was preparing for “all potential scenarios.”
Tensions have risen sharply in recent weeks as the United States ramps up its military presence in the region and President Trump warns that “really bad things” will happen if Iran doesn’t agree to a deal over the future of its nuclear program.
Top Shot – U.S. President Donald Trump addresses the nation with Vice President J.D. Vance (left), Secretary of State Marco Rubio (R), and Secretary of Defense Pete Hegseth (R) at the White House on June 21, 2025 in Washington, DC.
Carlos Barria | AFP | Getty Images
The State Department on Monday ordered the evacuation of non-emergency personnel at the U.S. Embassy in Beirut as President Trump issued renewed airstrike threats.
Last Friday, President Trump said he was considering limited airstrikes against Iran and set a two-week deadline for a nuclear deal with Iran.
Reuters reported, citing a senior Iranian official, that Iran has indicated it is willing to make concessions on its nuclear program in exchange for sanctions relief and recognition of the right to enrich uranium.
The official said Tehran would consider a combination of sending half of its most highly enriched uranium overseas, diluting the rest and participating in the creation of a regional enrichment consortium. But in doing so, he demanded that the United States recognize Iran’s right to nuclear enrichment and the lifting of economic sanctions, Reuters reported.
President Trump is scheduled to deliver his State of the Union address later in the day, which is expected to focus on the economy as polls show the president is losing support over his handling of the economy ahead of the 2026 midterm elections in November.
Oil prices rose slightly on Wednesday on concerns that no-deal military action against Iran was imminent. U.S. West Texas Intermediate crude rose 41 cents, or 0.62%, to $66 a barrel, and Brent futures rose 45 cents, or 0.64%, to $71.2.
Ipek Ozkardeskaya, senior market analyst at Swissquote Bank, said that if U.S. oil prices rise further, they could move above $70 a barrel and potentially towards $80 a barrel, noting that “geopolitical upswings” tend to be temporary and sharp increases could give way to a correction.
