US President Donald Trump said in an interview aired Wednesday that the Iran war is “very close to ending” and that authorities in Tehran are keen to reach a peace deal.
“We completely defeated them militarily,” Trump said in a pre-recorded interview on Fox Business Network’s “Morning with Maria.” “I think it’s nearing the end. I see it very close to the end. … If I raised the stakes now, it would take 20 years to rebuild that country, and we’re not finished yet.”
“We’ll see what happens. I think they very much want a deal,” he added.
The president’s comments come amid growing market optimism that a diplomatic solution to the U.S.-Iran war will be found despite the failure of last weekend’s peace talks.
The Associated Press reported Wednesday morning that the United States and Iran have “agreed in principle” to extend a fragile two-week ceasefire to allow for further diplomacy, the Associated Press reported, citing regional officials.
However, a senior US official told CNBC that the US “has not formally agreed to extend the ceasefire.”
“The United States and Iran remain engaged toward a deal,” added the official, who spoke on condition of anonymity to discuss internal administration planning.
Multiple media outlets reported that negotiations could resume before the ceasefire expires next week. A White House official told CNBC Tuesday morning that a second round of negotiations was under discussion between Washington and the Iranian government, but nothing was officially scheduled at that time.
President Trump told the New York Post late Tuesday that new talks between the United States and Iran in Islamabad “could happen in the next two days.”
In a Fox Business interview aired on Wednesday, President Trump downplayed the turmoil in global markets caused by the war, saying oil prices, which have soared due to supply disruptions, will soon fall.
He again defended the US military operation against Iran, saying: “We must prevent Iran from acquiring nuclear weapons.”
President Trump predicted that once the war ends, “the stock market will skyrocket, and it’s already booming.”
As the Trump administration considers further talks with Tehran, the U.S. government is proceeding with a blockade of the Strait of Hormuz, a key maritime route largely controlled by Iran.
U.S. Central Command announced late Tuesday that a blockade barring ships from entering or exiting Iranian ports was in full effect, “completely” cutting off Iran’s international maritime trade.
Correction April 15, 2026: This article has been updated to reflect the fact that the Fox interview was prerecorded.
