Speaking at the White House on Wednesday, Trump claimed Iran wants to “make a deal badly” and emphasised that any agreement would prevent Tehran from acquiring nuclear weapons.

“We’ve had very good talks over the last 24 hours, and it’s very possible that we’ll make a deal,” Trump said.

He later told PBS that he hoped to reach an agreement before his upcoming trip to China, but warned that the US would resume military action if negotiations collapsed.

“If it doesn’t end, we have to go back to bombing the hell out of them,” he said.

Iranian officials, however, downplayed reports of an imminent deal.

Spokesperson Esmaeil Baghaei said Tehran has yet to respond to the US proposal, calling the discussions “ongoing.”

Lawmaker Ebrahim Rezaei described the US text as “more of an American wish list than a reality,” while Iran’s parliament speaker mocked media reports of progress, referring to them as “Operation Trust Me Bro failed.”

Iran has repeatedly emphasised that its nuclear enrichment programme and control over the Strait of Hormuz are non-negotiable.

The Islamic Revolutionary Guard Corps recently introduced new rules for passage through the strait, requiring payments in Iranian currency and reparations for any damage caused by countries involved in the conflict.