Trump flags possible Iran deal as markets move

On June 11, 2026, President Donald Trump said the United States and Iran could sign a peace deal "as soon as this weekend" that would reopen shipping traffic through the Strait of Hormuz. He stated that the strait would "officially open as soon as we sign," linking the resumption of maritime flows to the formal conclusion of the agreement. Trump described the outcome as a "great settlement of the war with Iran" and suggested the signing could take place in Europe in the coming days.

Trump also said that Vice President J.D. Vance could sign the agreement on behalf of the United States. He indicated that discussions over the prospective deal had been taken to the "highest level" of Iranian leadership, and referred to a "very strong memorandum of understanding" that could be finalized soon. At the same time, he acknowledged that the agreement still awaited formal approval on the Iranian side.

In his June 11 comments, Trump said he had canceled scheduled U.S. strikes on Iran that were planned for that evening as negotiations progressed. He linked the decision to halt the strikes to the ongoing diplomatic contacts, saying discussions had reached senior levels in Tehran. Earlier in the day, U.S. strikes had been carried out, underscoring that military activity and diplomacy were unfolding in parallel.

Trump’s remarks signaled a shift from active military options toward a focus on securing a written understanding with Iran. However, details of the underlying agreement, including its specific terms and implementation mechanisms, were not publicly disclosed in the statements summarized in the available reports.

While some Iranian media indicated that Tehran was likely to approve the agreement, Iran’s official stance remained more cautious. Iran’s foreign ministry spokesman Esmaeil Baghaei told state media that Iran had not yet made a final decision on a possible agreement with the United States. He described reports about the time and place of any signing as speculative, saying that "nothing had been finalized."

Baghaei also said Iran would not compromise on its "red lines," signaling that key issues from Iran’s perspective remained non-negotiable. These comments contrasted with suggestions from semi-official outlets that Tehran might be inclined to support the emerging deal, highlighting uncertainty over the extent of internal consensus within Iran’s leadership.

Financial markets reacted quickly to Trump’s announcement that a deal might be imminent and that the Strait of Hormuz could soon reopen. U.S. stocks rose following his June 11 remarks, reflecting investor expectations that reduced geopolitical tension could benefit economic and corporate prospects. At the same time, oil prices fell in response to the prospect of restored shipping through a key global energy chokepoint.

The move in markets came even though formal Iranian approval and detailed terms of the agreement had not yet been confirmed. The contrasting public statements from Washington and Tehran left the precise timeline, venue, and conditions for any signing unclear. This combination of market optimism and political ambiguity framed the immediate aftermath of Trump’s comments on June 11.