Tyler Kendall

We did hear from the U.S.

Treasury Secretary Scott Besson yesterday who said that we perhaps have the, quote, makings of a deal.

But at this point, nothing's final until their sign-off, though we are getting indications and signals from both sides that perhaps they are the closest that they've been yet to this potential memorandum of understanding that would kick off essentially a phased approach towards ending the conflict.

First, we would see this 60-day ceasefire extension where

a reopening of the Strait of Hormuz would be prioritized.

That means no tolls, no harassment, and that Iran would have 30 days to work to clear any mines in the waterway.

During this 60-day memorandum of understanding, freedom of navigation through the Strait of Hormuz would be, quote, unrestricted, with U.S.

officials saying that this means no tolls, no harassment, and that Iran will ultimately have to remove mines that it has laid in that waterway within the first 30 days of the agreement.

Bloomberg's Tyler Kendall has more from Washington.

We'll have to see how this ultimately shapes up.

Of course, the president's immigration policies have been a huge focal point here in Washington.

We saw them spur what was the longest government shutdown.

in US history over funding the Department of Homeland Security.

But at this point, we'll have to see ultimately how it goes from here.

But it definitely represents what feels like an escalation in the use of law enforcement tools by the Trump administration, which has so far sought to protect the identities of immigration and custom enforcement agents.

During this 60-day memorandum of understanding, freedom of navigation through the Strait of Hormuz would be, quote, unrestricted, with U.S.

officials saying that this means no tolls, no harassment, and that Iran will ultimately have to remove mines that it has laid in that waterway within the first 30 days of the agreement.

The U.S.

Attorney's Office for Washington has subpoenaed the social media companies of Reddit and X seeking information related to users when it comes to their names, addresses, even banking information apparently.

that are behind some of these accounts that have chided immigration enforcement efforts.