President Donald Trump canceled planned military strikes on Iran late Thursday, telling The Post that an agreement between Washington and Tehran had been reached to reopen the Strait of Hormuz and begin nuclear negotiations.

The commander in chief called the understanding “all wrapped up,” while hinting that a formal signing could take place soon.

Trump shared the update on Truth Social, saying discussions with Iran’s top leadership had reached full approval.

“Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening,” he wrote.

Trump's Sovereign Wealth Fund: What Could It Mean For Your Money?

Trump added that not only the United States, but partners across the Middle East and beyond, had backed the terms.

The deal appears to include a promise by Iran to reopen the Strait of Hormuz and discuss the fate of its enriched uranium program.

In return, the United States would lift its blockade on Iranian ports, which was put in place two months ago after escalating missile attacks in the region.

Trump said those restrictions would remain “in full force” until the agreement was signed and implemented.

FREE Gun Law Map: Laws Don't Pause During Social Unrest

WATCH:

A U.S. official familiar with the mediation process described the emerging deal as “all-inclusive” and said it built on prior drafts brought forward by Qatar and Pakistan.

The key point of contention, that source said, was sequencing, meaning which side would act first in unlocking funds, lifting restrictions, or beginning disarmament steps.

Even as Trump celebrated progress, Secretary of State Marco Rubio reminded Congress that easing sanctions would come only if Tehran made real nuclear concessions.

“No rewards for promises,” he told reporters last week, emphasizing that Iran’s commitment must go beyond rhetoric.

Trump, meanwhile, has refused to release billions in frozen Iranian funds unless inspectors can confirm Tehran’s nuclear compliance.

Regional sources told The Post that Iran’s latest draft of the agreement was sent to mediators in Doha Wednesday night.

“The text of the agreement was completed and finalized on Wednesday evening,” one regional contact said.

They added that Qatari and Pakistani intermediaries had maintained direct communication with both Washington and Tehran to finalize details.

This apparent breakthrough came after a tense 48 hours.

WATCH:

Earlier this week, Iran downed an American Apache helicopter near the Strait of Hormuz, prompting overnight U.S. strikes on Iranian radar and missile sites.

Those retaliatory strikes lasted four hours and targeted critical military surveillance and communication systems across Iran’s southern coast.

Sources at U.S. Central Command said the precision strikes concluded by dawn and had inflicted heavy damage on Iranian defenses.

Just hours before announcing the deal, Trump had warned Iran that the United States was prepared to strike “VERY HARD TONIGHT.”

He also threatened to seize Iran’s Kharg Island, a major oil export hub that produces roughly 90 percent of the regime’s crude output.

“At some point in the not too distant future, we will be taking Kharg Island,” he posted on Truth Social, adding that he preferred direct control over Iranian energy assets, similar to the U.S. approach in Venezuela.

In an interview with Fox and Friends, Trump remarked that he has long believed taking Kharg Island would be the cleanest way to end Iran’s leverage in the region.

“My preference has always been, take Kharg Island. My preference would be that,” he said.

He added that he doubts Americans have the stomach for a full invasion but left that possibility open depending on Iran’s cooperation.

Inside Iran, regime-aligned media were quick to push back on Trump’s claim.

Fars News Agency said no agreement had been finalized, citing an unnamed government insider.

Still, Qatari officials confirmed that discussions were ongoing at the highest levels and that implementation could begin “if final approval is granted.”

Iranian officials appear wary that the deal might face pressure from Israel, whose leaders have not publicly commented.

An Iranian source told The Post that “the Israelis and the Zionist lobby will not let him sign an agreement.”

Yet Trump has told allies he expects Israel to “go along with it” once the final arrangements are sealed. “I call the shots,” he reportedly said of Prime Minister Netanyahu.

Despite conflicting reports, markets reacted instantly to Trump’s announcement.

The Dow Jones soared nearly 800 points as investors bet that the standoff with Iran could be easing.

Energy prices fell on expectations that shipping lanes might soon reopen.

The White House described the rally as a vote of confidence in Trump’s negotiation strategy.

Trump also hinted that a signing ceremony could take place in Pakistan, praising the country’s top military leader, Field Marshal Asim Munir, for facilitating communication between Tehran and Washington.

Other options floated include Switzerland, Turkey, or Qatar, all of which have served as neutral mediators at various stages of the discussions.

For now, both sides appear to be testing each other’s seriousness.

The Iranian regime has endured punishing U.S. sanctions under Trump’s administration, while Washington has had no interest in repeating the Obama-era policy of concession without enforcement.

Trump’s approach has been simple: maximum pressure until Tehran is ready to bargain in good faith.

Whether this deal truly marks the end of confrontation or simply another chapter in a long standoff remains to be seen.

What is clear is that Trump has once again managed to pull the world back from the brink, blending toughness with negotiation to protect American interests while leaving Iran’s mullahs wondering what he might do next.

The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of Objectivist. Contact us for guidelines on submitting your own commentary.