Donald Trump reached a memorandum of understanding with Iran to end the war in the Middle East, a development confirmed across multiple news outlets. Following the announcement, oil prices tumbled, while the U.S. stock market hit a record high. Trump criticized opponents of the deal, labeling them as jealous, bad people, or stupid, and said they believe he hasn't been tough enough on Iran.

According to the South China Morning Post, the Strait of Hormuz is to reopen as part of the agreement, and two months of negotiations are expected to follow for implementation. Vice-President JD Vance hailed progress after the first round of direct peace talks in Switzerland, according to the Guardian. Trump also threatened to renew attacks on Iran if it does not rein in its proxy in Lebanon, the Guardian reported.

Senator Bill Cassidy, according to CBS News, said Ronald Reagan is 'rolling over in his grave' because of the deal, added that Iran's nuclear ambitions were not curbed, and claimed Iran will build brand-new infrastructure under the agreement. A senior Republican Senator called the deal the worst foreign policy blunder in decades, according to France 24. Republican hawks warned that Trump's Iran deal leaves Tehran richer, stronger, and still able to threaten the region, according to the Bangkok Post.