Trump Reveals if He’ll Extend Ceasefire with Iran

The United States is “going to end up with a great deal” with Iran, President Donald Trump said in an interview Tuesday morning.

“I think they have no choice,” he said on CNBC’s “Squawk Box.”

“We’ve taken out their Navy, we’ve taken out their Air Force, we’ve taken out their leaders.“

Trump said he doesn’t plan to extend the current ceasefire’s Wednesday deadline, which would give Iran until Wednesday night to agree to a peace deal.

“We’ve taken out their leaders, frankly, which does complicate things in one way, but these leaders are much more rational,” Trump said.

“It is regime change, no matter what you want to call it, which is not something I said I was going to do, but I’ve done it indirectly.”

Trump said the U.S. would resume bombing if Iran does not agree to a deal by the deadline.

“I expect to be bombing because I think that’s a better attitude to go in with,” he said. “But we’re ready to go. I mean, the military is raring to go. They are absolutely incredible.”

Vice President JD Vance and other negotiators are expected to fly to Islamabad, Pakistan, for a second round of negotiations Tuesday after the first set of talks was unsuccessful.

Oil prices surged Monday, with Brent and WTI benchmarks rising by 5.6% and 6.9%, respectively after Iran shut the Strait of Hormuz again and the U.S. seized an Iranian cargo ship as part of its ports blockade.

Shipping through the Strait of Hormuz, a corridor for about a fifth of the world’s oil supply, remained limited on Monday. The conflict is creating the worst energy crisis ever faced by the world, the head of the International Energy Agency said on Tuesday.

Reuters contributed to this report.