President Donald Trump announced late Thursday that he has called off a planned military strike against Iran after diplomatic discussions reportedly reached the highest levels of Iranian leadership and received approval from multiple regional states.
In a Truth Social post, Trump wrote, “Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening.”
Trump indicated a formal agreement is now in motion, with the time and place of signing to be announced shortly. Despite the cancellation of the strikes, the U.S. naval blockade will remain in full force until the deal is finalized, signaling that Washington intends to maintain pressure on Tehran through the conclusion of any agreement.
Markets moved higher on the news. The Nasdaq added 1.3%, with traders responding positively to the prospect of a de-escalation between two countries whose tensions had been edging toward direct military confrontation. Spot gold rose 1.4% to $4,131.66 per ounce, reflecting a continued bid for safe-haven assets even as the immediate risk of conflict appeared to ease.
The nature of the broader agreement has not yet been disclosed, and it remains unclear what concessions, if any, were made by either side to reach this point. The persistence of the naval blockade suggests the deal is not yet fully locked in, and markets may remain sensitive to any signs that negotiations could unravel before a formal signing takes place.
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