The sticking point has been over control of the Strait of Hormuz, through which 20% of the world's oil normally flows. While both sides say a deal is close, the Trump administration has ruled out any arrangement that would cement Iran’s grip over the Persian Gulf waterway, including Tehran charging fees.
But Iran has insisted on some measure of control, saying the strait will not go back to being an open international waterway as it was before the war. Despite thousands of U.S. strikes, Iran can still fire drones and missiles at vessels, giving it a chokehold over commercial shipping.
David Schenker, a former State Department official in the first Trump administration, said the increasing economic pressure may actually prompt Trump to compromise on the strait, even if it's likely to have profound implications on global trade.
“There will be a lot of spin both ways, but my guess is that the president has tipped his hand as to the urgency for him of resolving the crisis,” said Schenker, now a fellow at the Washington Institute for Near East Policy. “This is a concession he may very well be willing to make.”
Trump says weapons stockpiles are ‘a little bit tighter’
Trump, however, has so far conceded little about the war.
He posted on social media Thursday that the U.S. military still has “massive amounts” of weapons and that large amounts are being manufactured. He threatened jail time for the alleged “leakers” of information on the nation's weapons stockpiles.
Trump was referencing a Washington Post story that reported his frustration with Defense Secretary Pete Hegseth over the shrinking inventories of advanced weapons, as the Cabinet had gathered at Camp David last week.
A senior administration official said there had been a “robust and healthy” discussion about Iran in the Cabinet meeting and would not provide additional details except to say there had not been a "knock-down, drag-out fight” over the matter. The official spoke on condition of anonymity to discuss internal administration deliberations.
When asked about weapons stockpiles, Trump told reporters that “we need more all the time.” He claimed that certain kinds of munitions are in “virtually unlimited supply” and others are “a little bit tighter.” He didn't offer more specifics.
He insisted that “we’re in great shape. But, with that being said, we always want more. We have to have more,” noting that the military could tap into U.S. supplies of munitions around the world if needed.
