US Treasury Secretary Scott Bessent at a White House press briefing on Thursday said the US and Iran negotiating teams “have been going back and forth”.

“President Trump has made it very clear, he talked about it at the Cabinet meeting, that he has several red lines, and Iran has to turn over their highly enriched uranium, they cannot pursue a nuclear weapon and the Strait of Hormuz … has to free transit.”

“Navigation of the seas has to be free and open as it was before, so he’s not going to take a bad deal, he’s going to make a great deal for the American people.