Trump Rejects Iran Latest Offer, Countries to Meet on Hormuz, More
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News when you want it with Bloomberg News Now. I'm Dan Schwartzman. President Donald Trump labeled Iran's latest response to his proposal to end the 10-week conflict with the U.S. as, quote, totally unacceptable as a two-side struggle to maintain a fragile ceasefire. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but did reject the idea of dismantling its nuclear facilities, the Wall Street Journal reported earlier. Iran disputed the report, according to Iran's semi-official news agency, Tasnim. Here's Bloomberg's Jeff May.
There had been some expectation or at least some anticipation that the response could lead to a longer peace deal, which is what President Trump has been wanting. The White House proposing that the ceasefire continue and that they then essentially get the Strait of Hormuz open and table for now and get to it later, longer term discussions about Iran's nuclear program. But the president has long insisted that Iran must not be allowed to have a nuclear weapon.
That's Bloomberg's Jeff Mason. The price of Brent crude surging on the news. The United Kingdom and France will be hosting a meeting of more than 40 nations to outline their military contributions to a European-led mission to escort ships through the Strait of Hormuz once there's a stable ceasefire. The countries are expected to offer demining, escorting, and air policing capabilities as part of a defensive naval mission. The move would be designed to reassure commercial ships attempting to pass through the crucial waterway. Iran's deputy foreign minister, though, says such a move would be considered an escalation of the war and would be met with a military response. Israeli Prime Minister Benjamin Netanyahu says the U.S.-Israeli war with Iran is, quote, not over.
He spoke on CBS's 60 Minutes.
I think it accomplished a great deal, but it's not over because there's still nuclear material, enriched uranium that has to be taken out of Iran. There is still enrichment sites that have to be dismantled.
Israeli Prime Minister Benjamin Netanyahu on CBS's 60 Minutes. President Trump is scheduled to meet with Chinese President Xi Jinping in Beijing this week, where the two leaders are expected to discuss a trade framework. National Economic Council Director Kevin Hassett says he has high hopes for the summit.
We're going to have this trip with two leaders that are extremely close with one another. And we're going to be making deals. Exactly how those deals look will depend on how the meetings progress. But my expectation, given the strong relationship between the two presidents, is that there'll be lots of good news for American workers and firms.
That's National Economic Council Director Kevin Hassett. The war in Iran is also expected to be a big topic of discussion. U.S. officials are saying that President Trump is likely to press Chinese President Xi Jinping over Beijing's approach to Iran. Officials also said that the two leaders are likely to discuss U.S.
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