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Economics3h 9m ago

President Donald Trump said the U.S. is close to signing a deal with Iran to wind down the war, with a memorandum of understanding to be signed in the coming days.

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WASHINGTON (AP)

Who
President Donald Trump, U.S., Iran
What
President Donald Trump said the U.S. is close to signing a deal with Iran to wind down the war, with a memorandum of understanding to be signed in the coming days.
When
Fri, 12 Jun 2026 18:53:06 GMT · 3h 9m ago
Where
WASHINGTON (AP) ·
Why
The conflict has battered the global economy, tested alliances and raised unanswered questions about its planning, justification, and aftermath.
The Frontline Impact

How this affects you

The ongoing war in Iran has had significant economic consequences, primarily through the effective closure of the Strait of Hormuz, a crucial chokepoint for 20% of the world's oil and natural gas, leading to spiked global energy prices and increased costs for other goods. The potential deal aims to address this by reopening the strait.

Story chain

11 events in this thread
  1. Economics2h 0m ago
    U.S. stocks ended higher on Friday afternoon as investors held out hope for a peace deal between Iran and the United States and as SpaceX shares surged in their debut.
    Open article
  2. Economics2h 0m ago
    U.S. stocks climbed Friday, buoyed by hopes of a U.S.-Iran peace deal and the historic debut of SpaceX.
    Open article
  3. Economics2h 0m ago
    U.S. stocks ended higher on Friday afternoon as investors held out hope for a peace deal between Iran and the United States and as SpaceX shares surged in their debut.
    Open article
  4. Economics2h 0m ago
    U.S. Ambassador to the United Nations Mike Waltz said Gulf allies are backing President Donald Trump’s blockade and economic pressure campaign against Iran.
    Open article
  5. Economics2h 0m ago
    U.S. Ambassador to the United Nations Mike Waltz said Gulf allies are backing President Donald Trump’s blockade and economic pressure campaign against Iran.
    Open article
  6. Economics2h 0m ago
    U.S. Ambassador to the United Nations Mike Waltz said Gulf allies are backing President Donald Trump’s blockade and economic pressure campaign against Iran.
    Open article
  7. Economics2h 0m ago
    U.S. Ambassador to the United Nations Mike Waltz said Gulf allies are backing President Donald Trump’s blockade and economic pressure campaign against Iran.
    Open article
  8. Economics2h 0m ago
    U.S. Ambassador to the United Nations Mike Waltz said Gulf allies are backing President Donald Trump’s blockade and economic pressure campaign against Iran.
    Open article
  9. Economics2h 18m ago
    The dollar index (DXY00) ended the day little changed on Friday as markets assessed various economic indicators and hopes for a near-term US-Iran agreement.
    Open article
  10. Economics3h 9m ago
    President Donald Trump stated the U.S. is near a deal with Iran to conclude the war, with a memorandum of understanding possibly signed in Europe this weekend.
    Open article
  11. Currently Reading3h 9m ago
    President Donald Trump said the U.S. is close to signing a deal with Iran to wind down the war, with a memorandum of understanding to be signed in the coming days.

Verified Sources & Citations