Trump says Iran deal could be signed within days

President Donald Trump says a potential agreement with Iran is within reach after canceling another round of U.S. strikes and announcing progress toward ending the conflict.

(NBC)- President Donald Trump says a potential agreement with Iran is within reach after canceling another round of U.S. strikes and announcing progress toward ending the conflict.

Following two nights of attacks in the Middle East, there was relative calm overnight as negotiations continued.

“We just made a great settlement of the war with Iran,” Trump said.

The president described the developing arrangement as a “very strong memorandum of understanding” and said it would accomplish one of his administration’s primary goals.

“That is a little conceptual, but it’s something that’s going to get done,” Trump said.

However, Iran has not formally signed on to the proposal. In a statement, a spokesperson for Iran’s Foreign Ministry said the country “has not yet reached a final decision regarding an agreement” and would not compromise on its “red lines.” Despite Trump’s optimistic outlook, tensions remain in the region. A U.S. official said American forces shot down two Iranian drones overnight that were allegedly attempting to target commercial ships in the Strait of Hormuz.

Trump said those attacks would stop under the proposed agreement and predicted the vital shipping lane would fully reopen.

“And we’ll have oil prices dropping like a rock,” he said.

Oil prices declined after news of the potential deal.

The president acknowledged that he has previously said an agreement was close, but argued that recent military pressure has changed Iran’s position.

“Because they’ve taken a pounding. They’ve taken a pounding like very few people could take, and they want to make the deal a lot more than I do,” Trump said.

Trump said documents could be finalized within days and predicted a signing ceremony could take place in Europe as early as this weekend.

Before announcing that an agreement was within reach, Trump also revealed he had considered targeting Kharg Island, Iran’s primary oil export hub.

Such a move would have represented a significant escalation in the conflict and prompted concerns from lawmakers in both parties about the possibility of U.S. troops becoming more directly involved in the region.

Questions remain about Iran’s commitment to the proposed agreement as negotiations continue.