Trump rejects Iran’s latest proposal to reopen the Strait of Hormuz

US President Donald Trump said on Saturday that he rejects Iran’s latest proposal to reopen the Strait of Hormuz, calling it “unacceptable.”

“I reject their proposal,” Trump said when asked by reporters what he thought about Iran’s plan, which promises a swift reopening of the strait and a resumption of talks over Tehran’s nuclear program in exchange for the United States lifting its naval blockade and ending other economic penalties.

“They want to make a deal where they open the strait immediately because they’re losing so badly,” he added.

“They want a make a deal, and I think that’s fine. I like making a deal too, but that deal would not be acceptable.”

The proposal, presented to the US through mediators earlier this week, calls for the US to meet certain conditions within seven days to restart the talks and re-open the strait, Iran’s Foreign Minister Abbas Araghchi said earlier this week.

The proposed deal came while Iran’s president and foreign minister visited New York for the UN gathering of world leaders. What was different after past failed attempts was going to be the speedier timeline.

Iran’s pitch to the US President said a quick deal might help him in the midterm elections in November.

Trump early on Saturday appeared to share the first indication of his thinking, posting a map on social media of the crucial waterway calling it the “Trump Strait”. The White House had yet to expand on the social media post.

In response to Araghchi’s comments, a White House official previously told CNN they were having “positive and constructive discussions through the mediators.”

“The United States is in a very strong position with control of the Strait of Hormuz, so we are not in a rush,” the official said.

US Secretary of State Marco Rubio struck a similar tone earlier this week, saying, “If there’s going to be a deal with Iran… it’s going to involve a lot of hard work over a period of time.”

The Wall Street Journal, citing US officials, reported that Trump told staff that a renewed bombing campaign is likely after the upcoming midterm elections. The officials were reported as saying Trump’s views could change over the coming weeks.

Around the same time, Iran’s state media said President Masoud Pezeshkian was going home.

Trump used his speech to the UN gathering on Tuesday to threaten to “annihilate” the Islamic Republic. In his own speech a day later, Pezeshkian said Iran would fight “until our last breath”.

In his final seconds, however, Pezeshkian said Tehran remained open to diplomacy.

That came in a private gathering on Thursday on the sidelines of the UN meeting, where Iran’s top diplomat described Tehran’s new proposal to the US. The conditions for Washington largely echo the ones agreed to in the June deal that fell apart.

At stake are the biggest sources of frustration for both sides.

Opening the Strait of Hormuz, which Iran asserted control of after being attacked by the US and Israel, would ease global markets and relieve some pressure on the US military, which has been guiding commercial ships through the waterway at risk of Iranian attack.

Lifting the US naval blockade of Iranian ports, as well as waiving sanctions on oil sales, would allow Tehran to ship out more of its crude and help its battered economy as its currency hits record lows and inflation soars.

Iran makes another push before heading home

In a sign of Tehran’s apparent sense of urgency, Pezeshkian hosted the prime minister of Qatar, the mediator in the indirect talks, early on Friday before much of New York rolled out of bed.

“The choice now rests with the United States,” Iranian Foreign Minister Abbas Araghchi told journalists Friday evening (Saturday AEST). But the White House would say only that US officials were having positive and constructive conversations with mediators.

Tehran has spent long weeks in discussions with Oman, on the other side of the strait, on how to manage shipping traffic.

Its new rush for a deal with Washington, analysts said, reflects its eye on the midterms and trying to get Trump to decide an agreement has political benefits. But his rejection now risks a return to fighting that would drive oil prices higher just as he needs happy voters.

“Washington may believe that time is on its side: Maintain pressure through November, avoid another major military escalation before the midterms, and reassess afterward. Tehran may reach precisely the opposite conclusion,” Danny Citrinowicz, a senior researcher at Israel’s Institute for National Security Studies, said on X on Saturday.

Trump previously said he’s in no rush for a deal as the US strains Iran’s economy with sanctions.

As for Iran, their security forces have warned they still have targets left to strike.

-Reported with Associated Press and CNN