President Donald Trump has signalled the United States could end its military campaign against Iran within two to three weeks without requiring a formal deal, in remarks that sent stock markets soaring even as attacks continued on both sides and Tehran dismissed ongoing communications as falling short of negotiations.
“We’ll be leaving very soon,” Trump told reporters at the White House on Tuesday, adding that a diplomatic agreement was not a prerequisite for withdrawal. “Iran doesn’t have to make a deal with me,” he said.
The White House announced Trump would address the nation on Wednesday at 9 p.m. EDT to provide what it called “an important update on Iran.”
Secretary of State Marco Rubio echoed the more conciliatory tone, telling Fox News the two sides could meet “at some point” and that the US could “see the finish line.” He added: “It’s not today, it’s not tomorrow, but it is coming.”
The remarks marked a notable shift from Washington’s earlier position, which had demanded Iran commit to abandoning nuclear weapons, halt all uranium enrichment and fully reopen the Strait of Hormuz as conditions of a 15-point ceasefire framework.
Wall Street surged on the signals, with the S&P 500 closing 2.9% higher on Tuesday. Asian markets extended the rally on Wednesday, with MSCI’s broadest Asia-Pacific index outside Japan up 2.7% and Tokyo’s Nikkei jumping as much as 3.9%.
Iran rejects “negotiations” label
Despite Washington’s talk of progress, Iranian Foreign Minister Abbas Araqchi said he had been receiving direct messages from US special envoy Steve Witkoff but that these did not constitute negotiations. He described them as threats or exchanged views delivered through intermediaries.
Iran’s Revolutionary Guards issued a fresh threat on Tuesday, listing 18 US companies — including Microsoft, Google, Apple, Tesla and Boeing — that it said would be targeted from 8 p.m. Tehran time on Wednesday. Trump said he was unconcerned.
A Reuters/Ipsos poll found two-thirds of Americans believe the US should end its involvement in the Iran war quickly, even if that means falling short of the Trump administration’s stated goals.
Attacks on both sides continue
On the ground, the conflict showed no sign of pausing. Drones struck fuel storage at Kuwait’s international airport, causing a large blaze, while Bahrain reported a fire at an undisclosed facility following an Iranian attack. A tanker was hit near Doha, and explosions were heard across multiple districts of Tehran after US-Israeli air strikes, with Iran’s air defences activated in response. Iran’s largest passenger terminal at Bandar Abbas was struck overnight, with the deputy governor calling it a “criminal” attack on civilian infrastructure.
Israel’s military said it had carried out more than 800 strike sorties against Iranian targets since the war began, deploying 16,000 munitions and identifying 5,000 new targets. At least seven people were killed and 24 wounded in two Israeli strikes in the Beirut area on Wednesday targeting what Israel said were senior Hezbollah commanders. Hezbollah did not immediately comment.
Yemen’s Houthi movement, allied with Tehran, launched a missile towards Israel on Wednesday, with Israeli air defences activated to intercept it.
The Wall Street Journal reported that the United Arab Emirates is preparing to help the US and its allies reopen the Strait of Hormuz by force and is seeking a UN Security Council resolution to authorise the operation. Rubio, meanwhile, warned that Washington would reassess its relationship with NATO allies after the conflict, criticising European countries — including Britain — for failing to support the US war effort. “After this conflict is concluded, we are going to have to reexamine that relationship,” he said.
(Reuters)