Trump cancels Iran strikes, cites progress on potential peace deal

Donald Trump abruptly canceled planned strikes on Iran on Thursday, saying discussions had advanced to the highest levels of Iranian leadership and that the “final points” of an initial peace deal had been approved. The shift came just hours after he warned Tehran it could be hit “very hard” and threatened Kharg Island and other oil infrastructure, a sharp reversal as U.S. and Iranian forces had already traded strikes for a second straight day.

Trump said the deal could move toward a signing ceremony in the next few days, possibly in Europe, with Vice President JD Vance expected to attend. But the diplomatic picture remained far from settled. Iran’s Fars news agency denied that Tehran had approved any text for a memorandum of understanding, leaving Trump’s claims of progress without confirmation from the Iranian side.

The cancellation landed at a volatile moment. The back-and-forth strikes had pushed the Middle East closer to a wider war and intensified concern over the Strait of Hormuz, the narrow shipping lane that carries a major share of global oil traffic. Any escalation around that chokepoint would carry immediate implications for energy markets, shipping costs and military planning across the region, especially for U.S. partners watching for signs of a broader conflict.

Trump’s move also underscored the whiplash that has defined Washington’s posture toward Iran in recent weeks. He had alternated between talk of a possible deal and threats of escalation, then halted the planned attacks just hours before they were expected to be carried out. For now, the president is presenting the turn as a breakthrough toward peace, but the only publicly visible evidence remains a contested claim of progress and a denial from Tehran.