Trump Iran Deal Reversal: President Says US Doesn't Need a Deal, Pulls Vance

President Donald Trump said Thursday that the United States does not need a deal with Iran and ordered Vice President JD Vance, his lead negotiator, to abandon the talks and turn his attention to investigating corruption in Democratic-run American cities. The announcement, posted on Truth Social, is a sudden reversal: only days earlier, Trump had told top aides and foreign counterparts that he was open to Vance restarting negotiations with Tehran and had empowered him to pursue them. The move throws the administration's Iran strategy into fresh uncertainty nine months into a war that has pushed up fuel prices.

"We don't need a deal with Iran. Those days have long since passed. We've got their money, Hundreds of Billions of Dollars, and we've got their Strait!" Trump wrote. He added: "I have asked Vice President Vance to focus his complete and total attention on the Massive Corruption and Crime taking place in Democrat run Cities and States throughout the U.S."

Key Points

• Trump said Thursday the US does not need a deal with Iran, reversing his backing for Vance's talks.
• Vance, the administration's top Iran negotiator for months, had opened a channel to Mohsen Rezaei, Iran's top security official, and was weighing face-to-face talks.
• Trump ordered Vance to focus instead on investigating corruption and crime in Democratic-run cities and states.
• Oil prices rose after the post, with Brent crude up 1.2% to $93.85 a barrel and US crude up 0.8% to $87.18.
• No deadline for a deal was ever set, and no date for a Vance-Rezaei meeting had been agreed.

What Happened

Trump's message arrived on Thursday, just days after he had publicly sounded upbeat about a settlement. On Monday, he said a deal was "coming together very nicely" and that Iran wanted an agreement. The same day, Vance told reporters the two sides had made "progress" and that Washington had set "no strict deadline" for Tehran. The vice president said he and Trump "both feel pretty good about the prospects for potentially coming to a negotiated settlement."

Behind the scenes, Vance had gone further than public statements suggested. He wrote to Rezaei in October asking for a meeting, and US officials were at the early stages of discussing in-person talks aimed at ending a conflict that has driven up fuel and consumer-goods prices. No date for a meeting had been set.

Background: How Vance Became the Point Man on Iran

Vance has been the administration's top Iran negotiator for months, and his role took on new urgency after he blamed the war for the Republicans' disastrous midterm performance on November 3. The conflict began on February 28, 2026, when the United States and Israel attacked Iran, and it is now in its ninth month. The war has kept the Strait of Hormuz, the narrow waterway carrying a large share of the world's oil, at the centre of global attention. Days earlier, Trump told the Financial Times the US had no immediate strike planned but was "locked and loaded" if needed.

The diplomatic track had shown signs of life in recent days. Vance confirmed last week that he had sent a letter to Rezaei, which Trump said dealt with help on medical supplies and other matters. Rezaei called the changed American tone a good sign, though he gave no details and said he had not replied. Qatari mediators were reported to be carrying suggestions between the two sides. On Wednesday, during a Veterans Day address, Trump declared "We won," a remark that reads very differently now.

Trump Iran Deal Reversal Rattles Oil Markets

Markets reacted within hours. Oil prices, which had fallen to two-month lows on hopes of a negotiated settlement, rebounded after Trump's post. Front-month Brent crude rose 1.2 percent to $93.85 a barrel, while West Texas Intermediate gained 0.8 percent to $87.18. Bond yields also climbed on dimming prospects for a deal and fresh worries about inflation.

The International Maritime Organization said on Wednesday that it had verified more than 130 attacks on commercial vessels in the Strait of Hormuz since the war began — a reminder of why shipping and energy markets watch every twist in the diplomacy. Trump claimed in his post that the United States had secured Iran's money and control of the strait, writing: "We've got their money, Hundreds of Billions of Dollars, and we've got their Strait!"

Reactions: Markets Shrug, Diplomats Wait

Not everyone in the markets treated the post as a turning point. "This shift in focus is not being taken particularly seriously by the oil pits," Peter Cardillo of Spartan Capital told the Wall Street Journal, adding: "We believe that, unless there is a military strike by either side, a significant reversal in oil prices is limited at this time." Prices eased after an initial spike, suggesting traders expect the diplomatic door to stay at least partly open.

A spokesman for Vance did not immediately respond to a request for comment on Thursday. Iran has not publicly responded, and it is unclear whether Tehran will treat the message as final or as another swing in a strategy that has already changed course several times since February.

Why It Matters

The reversal matters because Vance was not a marginal figure in the diplomacy — he was the administration's chosen channel to Tehran's hardest-line security chief, and his talks were the clearest path to ending a war that has raised prices for American families. Pulling him off the file leaves no obvious negotiator in place and no deadline for either side. It also signals to allies and mediators that Washington's position can swing within days, which makes it harder for mediators to carry messages between the capitals.

What Happens Next

For now, the talks have no public timetable and no agreed meeting between Vance and Rezaei. Watch whether Trump repeats the message, whether another official takes over the Iran file, and whether oil prices hold their gains. The next test may come from Tehran: if Iran answers with a fresh offer or a new provocation, Washington must decide whether Thursday's post was a closing door — or just another turn.

Frequently Asked Questions

Why did Trump say the US doesn't need an Iran deal?
He said the US already holds Iran's money and the Strait of Hormuz, and wants Vance focused on Democratic-run cities.

Who was leading the Iran talks?
Vice President JD Vance, the administration's top Iran negotiator for months, who had opened a channel to Iran's security chief Mohsen Rezaei.

Was a meeting between Vance and Rezaei scheduled?
No. Vance wrote to Rezaei in October asking for a meeting, but no date had been set and talks were only at an early stage.

How did markets react to Trump's post?
Oil prices rebounded, with Brent crude up 1.2% to $93.85 a barrel, and bond yields rose as traders weighed dimmer prospects for a deal.

Is the US-Iran war over?
No. The war, which began on February 28, 2026, is in its ninth month, and Thursday's post changes the diplomacy, not the fighting.