President Trump said a potential peace agreement with Iran was effectively ended after renewed exchanges of strikes between the two sides. Trump’s remarks came amid a broader pattern of tit-for-tat attacks in the region, following wide-ranging US and Israeli strikes launched earlier in the conflict and Iran’s subsequent retaliations.

In the aftermath of the latest exchange, Trump suggested the US had made progress toward a settlement but also indicated that documents needed finalization. Iran’s officials responded by casting doubt on claims that an agreement was imminent or already concluded, saying key decisions had not been finalized.

The renewed violence unfolded against the backdrop of continuing concerns over Iran’s nuclear ambitions, missile capabilities, and regional activities, as well as security and shipping concerns in the Strait of Hormuz. The dispute has also had major economic consequences, including volatility in oil prices and disruptions to global trade routes as governments and shipping operators reassess risk in and around the region.

Meanwhile, military and diplomatic signals from both Washington and Tehran have remained inconsistent, with Trump alternating between talk of an imminent deal and warnings that further strikes could follow. Iran has warned of retaliation if additional attacks target Iranian territory or infrastructure, while the US has emphasized pressure on Iran to agree to terms covering nuclear and regional security issues.