US and Iran to restart talks Monday on Strait of Hormuz deal
Updated 3 months ago3 new reports, including South China Morning Post, The Independent.
The short version
The United States and Iran will restart talks on Monday to address a deal for the Strait of Hormuz and Iran's nuclear program. Saudi Arabia, the UAE and Qatar have asked the US to call off planned strikes, citing progress toward a deal.
US President Donald Trump said negotiations with Iran will begin Monday afternoon, noting that Saudi Arabia, the United Arab Emirates (UAE) and Qatar had asked the United States to call off planned strikes because they think a deal is possible.1 Trump stated there is a deal on the Strait of Hormuz and that a separate deal on Iran's nuclear program, or denuclearization, may follow.1 Gold prices advanced as the prospect of an interim deal to reopen the Strait of Hormuz eased inflation concerns, prompting traders to reduce bets on further Federal Reserve interest-rate increases.4
Most emerging-market currencies gained on Tuesday, rebounding from an earlier selloff amid optimism the US and Iran are nearing a deal to restart peace talks.10 A plane carrying 147 Venezuelans landed in Venezuela on Monday, marking the first US deportation flight to the country since June's earthquakes.9 The deportation flight arrived amid criticism over the deaths of deportees housed in a collapsed building during June's earthquakes in Venezuela.9
A coalition of 25 states filed a lawsuit against the Trump administration on Monday, arguing that the president exceeded his legal authority by imposing sweeping new tariffs on goods from 60 trading partners.5,8 The lawsuit, filed in the US Court of International Trade, challenges levies of 10% or 12.5% on the vast majority of goods imported into the US.5,8 The coalition of states is challenging the Trump administration's argument that the tariffs address imports produced by alleged forced labor abroad.6
The White House insists the tariff move is legal and within the president's authority.6 The US State Department notified Congress that it plans to close five foreign missions in a rare downsizing of America's global diplomatic footprint.7 The Independent reported that the State Department's plan to close five overseas posts was submitted to Congress.7
At least 1,230 Palestinians have been killed in Israeli strikes since a peace plan was agreed in October, according to Gazans cited by The Straits Times.2 As of early Sunday morning, Kalshi traders saw a 29% likelihood of a nuclear deal between the US and Iran before January 2027.3
Why it matters
The Strait of Hormuz is the 33km channel through which around a fifth of the world's oil passes, making it a critical global chokepoint.1
Section 301 of US trade law allows the president to impose tariffs on countries engaging in unfair trade practices, including forced labor.5,6
The US Court of International Trade hears cases involving customs and international trade disputes.5,8
This account was written from the 10 reports listed below, filed by 8 independent outlets, and checked against them line by line. It is not a copy of any one of them. Spotted an error? Tell us.
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