United States (US) President Donald Trump has rejected an Iranian proposal to reopen the Strait of Hormuz and end fighting across the Middle East.
Trump rejected the proposal while speaking to reporters at the White House on Saturday before leaving for Tennessee.
“I reject their proposal. … I rejected their deal,” Trump said.
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Iran presented the proposal at the United Nations General Assembly (UNGA) in New York, saying it delivered it to Washington through Qatari mediators.
Under the proposal, Iran said the strategic waterway could reopen, and regional hostilities could pause within seven days if the United States agreed to a deal.
He claimed Iran was seeking the agreement because the conflict had severely affected its finances and reduced its ability to generate revenue through the Strait of Hormuz.
“They want to make a deal to open the Hormuz Strait immediately because they’re losing so badly,” Trump said.
“We’re winning tremendously,” he added.
Trump said Iran wanted the waterway reopened because the country was losing revenue as shipping through the strategic route remained severely disrupted.
The United States has imposed an economic blockade on Iran while seeking to pressure Tehran over its restrictions on shipping through the Strait of Hormuz.
Trump has also maintained that the United States controls the strategic waterway despite the disruption to commercial shipping.
The Wall Street Journal first reported Trump’s rejection of the Iranian proposal, citing unnamed US officials who said the President remained doubtful that Tehran would meet his demands.
The newspaper also reported that Trump had told his staff he considered a renewed US bombing campaign against Iran likely after the November midterm elections.

Earlier, a US official described discussions with Iran through mediators as “positive and constructive”, suggesting that diplomatic contacts were still taking place despite the rejection of Tehran’s latest proposal.
Iranian Foreign Minister Abbas Araqchi said Friday that the proposed agreement would begin a seven-day countdown towards reopening the Strait of Hormuz and pausing fighting across the region.
“If there is seriousness on the US side to come to a deal and reopen the Strait of Hormuz, everything is now prepared,” Araqchi said.
He added that the parties could then begin wider negotiations on issues agreed by both sides, potentially including Iran’s nuclear programme.
Trump has repeatedly said Iran must never be allowed to acquire a nuclear weapon, while a senior Iranian official told Reuters that Tehran would not compromise on its nuclear programme even if Washington accepted the proposed peace deal.
The official said Iran would not give up what it considers its rights, including uranium enrichment or the option of keeping its highly enriched uranium inside the country.
Iranian President Masoud Pezeshkian also said Tehran was prepared to negotiate over its nuclear programme and other issues but would not accept pressure or threats.
“Iran is not seeking war, but will defend itself against pressure, threats and attacks,” Pezeshkian said.
He added that Iran had already agreed that it was “not supposed to develop nuclear weapons”.
The dispute over the Strait of Hormuz has added to the economic impact of the seven-month-old conflict, which has disrupted oil shipments through one of the world’s most important energy routes.
Iran has also engaged Saudi Arabia, its regional rival, over the situation around the waterway, highlighting the wider risks created by the disruption.
The conflict began on February 28 with US and Israeli attacks on Iran and has since moved between periods of reduced fighting and renewed strikes.
Thousands of people have been killed, while repeated attacks have weakened Iran’s conventional military forces and placed further pressure on its already struggling economy.
Iran and allied groups have also expanded the conflict across the region, with Iranian forces targeting US allies in the Gulf with drones and missiles.
Iran-backed Houthi forces in Yemen have also targeted Saudi interests, further widening the regional impact of the conflict.
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