The prospect of US-Iran negotiations is clouded. On Thursday, November 26, US time, President Trump reiterated at a White House cabinet meeting that the US was in dialogue with Iran, stating that Iran was &#34;begging for a deal,&#34; and added that he was unsure if the US intended to pursue a diplomatic solution, &#34;I don't know if we can do it, I don't know if we want to do it.&#34;
Trump also revealed a &#34;gift&#34; that had deliberately piqued external interest. According to CCTV News, Trump said that Iran had allowed ten oil tankers to pass through the Strait of Hormuz. He stated that Iran allowed some oil tankers to pass through the Strait of Hormuz as a gesture of goodwill for negotiations. Iran has not yet responded to this.
According to Xinhua News Agency, Trump said that if Iran and the US could reach the &#34;right deal,&#34; the Strait of Hormuz would be opened, and added that if Iran did not abandon nuclear weapons, the US would be &#34;their worst nightmare.&#34;
Before the cabinet meeting, Trump had issued a warning on social media earlier on Thursday, saying that Iran &#34;better get serious quickly or it will be too late, because once that happens, there is no turning back, and it will not be pretty.&#34;
For more than three weeks since the outbreak of the US-Iran conflict, financial markets have experienced significant volatility due to US military actions against Iran. However, Trump said on Thursday that he believed the market's reaction in terms of oil prices and stock markets was not as drastic as he had expected.
After Trump expressed uncertainty about reaching an agreement with Iran, the two major US stock indices, the S&amp;P 500 and the Nasdaq, widened their declines, with the Nasdaq falling over 1% and the S&amp;P 500 dropping nearly 0.8%. The Dow Jones Industrial Average, which had turned higher earlier in the session, resumed its decline.
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International crude oil benchmark Brent crude futures rose back above $101.00 a barrel, with their daily gains expanding again to over 4%.
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<h2>Trump: Strait of Hormuz Will Open if &#34;Right Deal&#34; is Reached, Unsure About Mines</h2>
According to reports, Trump characterized the current US-Iran conflict as a &#34;minor incident&#34; during the cabinet meeting, stating that it &#34;will not last long, it will be over soon.&#34; He reiterated that the progress of US military operations &#34;far exceeded expectations,&#34; restated the timeline of four to six weeks set for combat operations, and reiterated his disappointment with NATO for refusing to participate in military action against Iran, calling the Iran war a test for NATO.
Regarding the conditions for peace talks, Trump's stance was tough. He stated: &#34;Iran now has a chance to completely abandon its nuclear ambitions and embark on a new path. We will see if they are willing to do so. If not, we will be their worst nightmare.&#34; He also said that until an agreement is reached, the US will &#34;continue to pound them until they are in pieces, and they can do nothing about it.&#34;
When discussing the passage through the Strait of Hormuz, Trump directly linked the opening of the strait to reaching the &#34;right deal,&#34; while acknowledging that uncertainty remained.
According to Xinhua News Agency, Trump said:
<blockquote>
&#34;They (Iran) are begging for a deal. We will see if we can make a deal. If we can make the right deal, then the Strait of Hormuz will open. &#34;Even now, we don't know if there are mines there. You know, they have 22 mine-laying ships.&#34;
</blockquote>
Trump also stated at the cabinet meeting that the financial market's reaction to the situation in Iran was not as severe as he had expected.
<blockquote>
&#34;Frankly, I thought oil prices would rise more, and the stock market would fall more. But the reality is far less severe than I imagined. I think this is because the market has confidence in the President of the United States - and perhaps in all of us sitting at this table.&#34;
</blockquote>
<h2>Iran Initially Promised Eight Oil Tankers, Extra Two Allowed to Pass Through Hormuz</h2>
According to reports from Xinhua News Agency, CCTV, and other media outlets, Trump officially unveiled the &#34;gift&#34; from Iran that had been previously announced during Thursday's cabinet meeting.
According to Trump, Iran initially promised to allow eight oil tankers fully loaded with oil to pass through the Strait of Hormuz, and in reality, an additional two were allowed, totaling ten oil tankers to pass. According to CCTV News, eight of these oil tankers were en route through the Strait of Hormuz, flying the flag of Pakistan.
Trump characterized this move as a gesture of goodwill from Iran in the negotiations.
However, Trump's tone shifted as he disclosed this information, even joking about it with US Special Envoy Wittkopf, expressing concern that revealing it might affect Wittkopf's negotiation process. He reiterated that Iran should not have the ability to charge passage fees for the Strait of Hormuz, but currently &#34;they are allowed to,&#34; and it remains unclear whether there are mines within the strait.
Iran has not yet responded to these statements.
<h2>Special Envoy Wittkopf: Pakistan Acts as US-Iran Mediator, 15-Point Framework Shows Positive Signals</h2>
According to CCTV News, at the same cabinet meeting, Special Envoy Wittkopf confirmed that the US had been negotiating with Iran through Pakistan as a diplomatic channel.
Wittkopf's outlook on the negotiations was slightly more optimistic than Trump's. According to CCTV News, Wittkopf reported to Trump at the meeting:
<blockquote>
&#34;I can report to you today that, together with your foreign policy team, we have presented a 15-point action list that constitutes a framework for a peace agreement. This list has been conveyed through the Pakistani government, which is acting as a mediator.&#34;
</blockquote>
According to CCTV, Wittkopf stated that so far, this framework has &#34;facilitated strong and positive signals and dialogue,&#34; but he declined to reveal specific details of the terms due to the sensitivity of diplomatic consultations.
Wittkopf said: &#34;We will see how things unfold and whether we can convince Iran that this is a critical turning point and that they have no choice but more death and destruction. We have strong indications that this is possible.&#34;
According to semi-official Iranian media, Iran has shown little willingness to negotiate with the US so far and has attached a series of preconditions to the US ceasefire proposal.
Wittkopf also admitted at the meeting that previous rounds of negotiations had reached a stalemate, and Iran had not provided substantive responses to core demands such as no uranium enrichment, no weaponization, dismantling enrichment facilities, handing over enriched materials, and reducing missile stockpiles and ranges.
<h2>Defense Secretary Says Negotiating with Bombs, Treasury Secretary Says Energy Prices Will Fall</h2>
US Secretary of Defense Hegseth detailed the military achievements of the past four weeks at the cabinet meeting, stating that the Iranian navy had been destroyed and its naval commanders killed, and that Iran's missile attack attempts this week showed &#34;capabilities beyond what they claim publicly.&#34;
Hegseth stated that Iran is &#34;privately admitting to extremely heavy losses.&#34; He then set a strong tone: &#34;The Department of Defense will continue to negotiate with bombs.&#34;
US Secretary of the Treasury Bentsen endorsed market sentiment at the meeting, claiming that as the Iran conflict is resolved, energy prices will fall, inflation will follow suit, and predicted that both the US and the world would achieve &#34;absolute security guarantees&#34; rather than the &#34;false sense of security&#34; seen previously.
Bentsen also stated that even before the Strait of Hormuz is formally secured, traffic will continue to increase daily, and that the dollar has reasserted its status as a safe-haven asset.

During a cabinet meeting, Trump stated Iran was "begging for a deal," and he was unsure if they could or would make one. He also said that if the "right deal" was reached, the Strait of Hormuz would open, and he was uncertain about mines in the strait. Iran initially promised eight oil tankers, plus an additional two, to pass through the strait. Trump warned that if Iran did not abandon nuclear weapons, the US would be their "worst nightmare." The special envoy confirmed Pakistan was acting as a mediator between the US and Iran, stating that the 15-point framework submitted by the US had produced positive signals. The Defense Secretary said they would negotiate with bombs on the table, and the Iranian side privately admitted to heavy losses. The Treasury Secretary stated energy prices would eventually fall

Wallstreetcn

Trump: Strait of Hormuz will open if "right deal" is reached; unsure about mines. Iran allows ten oil tankers passage; market reaction to conflict less severe than expected