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President Donald Trump on his Truth Social platform on Thursday called for Iranian leaders to engage "before it is too late, because once that happens, there is NO TURNING BACK."
"The Iranian negotiators are very different and "strange." They are "begging" us to make a deal, which they should be doing since they have been militarily obliterated, with zero chance of a comeback, and yet they publicly state that they are only looking at our proposal, Trump wrote. WRONG!!! They better get serious soon, before it is too late, because once that happens, there is NO TURNING BACK, and it won’t be pretty!"
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Trump reveals "present" from Iran was safe oil tanker passage through Strait of Hormuz
During a cabinet meeting Thursday, President Trump revealed that the "present" from Iran he alluded to days earlier was safe passage of several fuel tankers through the Straight of Hormuz.
Trump's post came a day after he claimed a deal is near. The United States pitched a 15-point ceasefire plan that Iran rejected.
The Associated Press reported Iran and the U.S. seemed at odds on Thursday as both sides issued different statements over the progress of efforts to end the war, with Tehran introducing its own proposals even as its military fired missiles at Israel.
First aid responders are seen at the site of an Israeli airstrike that targeted the southern Lebanese village of Kfar Roummane on March 26, 2026. (Photo by Abbas Fakih / AFP via Getty Images)
Two officials from Pakistan described the 15-point U.S. proposal broadly, explaining to the AP that it included sanctions relief, a rollback of Iran’s nuclear program, limits on missiles and reopening the Strait of Hormuz, through which a fifth of the world’s oil is normally shipped.
According to the AP, the death toll from the Iran war has risen to more than 1,900 people in Iran and nearly 1,100 people in Lebanon, with dozens more killed in Israel and elsewhere in the region. Thirteen US. military members have died. Millions of people in Lebanon and Iran have been displaced.
Here's the latest from Thursday.
US inflation projected to reach 4.2% this year
2:15 p.m. ET: The Paris-based Organization for Economic Cooperation and Development said Thursday it expects U.S. inflation to jump to an annual average of 4.2% this year, from about 2.6% in 2025. The increase will manly be driven by spiking gas costs, but fertilizer exports have also been interrupted and could raise food prices in coming months, the OECD said.
"In the United States, the impact of higher energy prices on inflation will more than offset the effect from the decline in effective tariff rates on imports," the OECD’s interim outlook report said.
Growth is expected to slip to 2% this year from 2.1% in 2025, then decline further next year to 1.7%. In 20 of the largest countries, referred to as the Group of 20, which includes Japan, Europe, and large emerging economies such as Brazil, inflation is forecast to rise to 4% from 3.4
Israel adds an armored division to its invasion of southern Lebanon
1:30 p.m. ET: The 162nd Division’s deployment is the latest expansion of Israel’s ground offensive against Hezbollah, as senior officials say the army aims to control territory up to the Litani River.
Israel does not disclose division sizes but previously described three divisions in Gaza as "tens of thousands" of troops.
Trump says US ‘doesn’t need the Hormuz Strait’
12:15 p.m. ET: Asked by a reporter how close he was to marshaling a coalition of partners to help protect tankers moving through the strait, President Donald Trump said the U.S. has "so much oil — our country is not affected by this," according to The Associated Press.
The narrow waterway typically sees a fifth of the world’s oil exit the Persian Gulf through it to reach customers worldwide, specifically in Asia, and blockages there have sent oil prices near $120 per barrel at times.
According to the AP, although it’s true that the United States doesn’t get a massive percentage of its oil from resources moving through the strait, the price of oil is set on the global market.
Iran’s stranglehold on the waterway has raised prices at the pump for drivers the world over. The nationwide average price of gas is up more than a dollar from just a month earlier.
Trump is not ready to seek suspension of federal gas tax to help ease prices at the pump
12:10 p.m. ET: The Associated Press noted that a reporter asked Presidient Donald Trump about that option during the Cabinet meeting, and he said, "we’ve thought about it, I guess" and suggested that states suspend their taxes on fuel.
Trump segued into talking about the stock market and was asked again about the possibility of suspending the federal gas tax, which is 18.4 cents per gallon on gasoline and 24.4 cents per gallon on diesel fuel. That does not include state taxes, which often are higher.
The AP reported that Trump cannot suspend the federal tax on his own; Congress would have to approve.
But he indicated he wasn’t ready to go that route at the federal level at this time.
"It’s something we have in our pocket if we think it’s necessary," Trump said.
Trump calls the German president’s condemnation of his actions in Iran ‘inappropriate’
12 p.m. ET: The Associated Press reported that German President Frank-Walter Steinmeier said in a speech Tuesday that President Donald Trump’s aggression against Iran was a "dangerous mistake" in violation of international law.
Taking questions from reporters during Thursday’s Cabinet meeting, Trump likened Steinmeier’s statement to the U.S. assistance to Ukraine in its war with Russia, which he said was "not our war, we helped, but Ukraine’s done well."
According to the AP, Trump, who as he campaigned for a second term said repeatedly he could swiftly end the Russia-Ukraine war, added, "If I can solve that, it will be a great honor to do it. I wish it could have gone faster."
Trump claims Iran allowing Pakistan-flagged tankers through strait in sign of good faith for talks
11:50 a.m. ET: According to The Associated Press, President Donald Trump earlier this week said that Iran "gave us a present." He revealed the gift during Thursday’s Cabinet meeting.
Trump said that Iranian officials, with whom the U.S. is engaging in backchannel talks, are allowing "eight boats of oil" to pass through the Strait of Hormuz, suggesting it was an apparent act of good faith for negotiations.
"Well, I guess we’re dealing with the right people," said Trump, who indicated the tankers are operating under Pakistani flags.
Bessent says Strait of Hormuz not a ‘choke point’ and that tanker ship traffic will increase
11:30 a.m. ET: The Associated Press reported that U.S. Treasury Secretary Scott Bessent said that Iran, by restricting oil and natural gas shipped through the Strait of Hormuz, is "trying to take control of the global economy through a choke point that we believe does not exist."
According to the AP, Strait of Hormuz is vital for global shipments of oil and natural gas, especially for Asia, and energy prices have increased since the war with Iran began.
Still, Bessent said that more tankers are making it through the Strait of Hormuz.
"I am confident that shipping traffic will continue to increase on a daily basis, even before we secure" the strait, Bessent said.
Hegseth says Iran war is ‘unlike Iraq’
11:15 a.m. ET: U.S. Defense Secretary Pete Hegseth said Thursday that the war in Iran is "unlike Iraq. This isn’t a tie. This is not parity. This is not chaos. This is success. Pure American success."
The AP reported that Hegseth spoke as he sat next to Trump at a Cabinet meeting. Hegseth noted that the war’s objectives "remain clear: No nukes, no navy, and complete dismantling of their missile program and defense industrial base."
Trump noted that the Strait of Hormuz, through which 20% of the world’s oil normally flows, remained effectively closed because of the war, although the president predicted the waterway will open up.
Trump envoy Steve Witkoff confirmed the US has presented a 15-point ‘action list’ to Iran
11:20 a.m. ET: It was delivered through Pakistan as a framework for a possible peace deal. Witkoff indicated there’s a possibility an agreement can be reached.
It’s the first time the Trump administration has confirmed the 15-point plan.
Witkoff made the comment Thursday at a Cabinet meeting. He added that Trump directed Witkoff to "maintain confidentiality" as the administration reached out, citing sensitive diplomatic discussions.
"If a deal happens, it will be great for the country of Iran, the entire region and the world at large," he said.
US Vice President JD Vance says the destruction of the Iranian military gives the US ‘options’
11:15 a.m. ET: Addressing the Cabinet, Vice President JD Vance asserted that the "conventional military" in Iran has been "effectively destroyed" during the war, The Associated Press reported.
Echoing Trump, Vance said Iran no longer has a navy and "they don’t have the ability to hit us like they could of even a few weeks ago."
"And what that does is that gives us options," Vance said.
He did not go into detail about those options.
Pakistan’s top diplomat says ‘US-Iran indirect talks are taking place’
7:05 a.m. ET: Pakistan’s top diplomat says that indirect talks between the United States and Iran are still ongoing, even as Washington and Tehran offer opposing proposals.
The comment by Ishaq Dar mark the first time Islamabad has publicly acknowledged being the channel by which the two countries were negotiating.
"US-Iran indirect talks are taking place through messages being relayed by Pakistan," Dar wrote on X.
He said Egypt and Turkey, as well as other countries, are working to back the talks.
Oil prices remain high
Big picture view:
The news of potential negotiations drove down the price of oil. Brent crude oil, the international standard, was trading around $100 a barrel Wednesday, after nearing as high as $120 earlier last week. That's still up around 35% from the start of the war.
Economists and leaders have warned of far-reaching effects if energy prices remain high — from rising prices on food and other basics to higher rates for mortgages and auto loans.
Iran has allowed a small number of ships through the Strait of Hormuz, but has said no ships from the U.S., Israel or countries seen as linked to them can pass
The Source: Information for this story was provided by The Associated Press. This story was reported from San Jose and Washington, D.C.