WASHINGTON — President Donald Trump said he’s not likely to extend the two-week ceasefire with Iran, increasing the urgency for negotiators to conclude a deal to end the war.

Trump said in a Monday phone interview that the truce, which he announced April 7, expires “Wednesday evening Washington time” — possibly buying more time for negotiations. But the president also said it’s “highly unlikely that I’d extend it” if no deal is reached before then.

“I’m not going to be rushed into making a bad deal. We’ve got all the time in the world,” the president said.

In the interview, Trump reiterated that the Strait of Hormuz would stay blocked for now, saying “the Iranians desperately want it opened. I’m not opening it until a deal is signed.”

Details about the next negotiating session, expected to take place in Pakistan, started to came into focus Monday. Iran is also sending a team, according to people familiar with the plans who declined to be identified. Earlier, Tehran said it was hesitant to participate in further peace talks with the United States.

Vice President JD Vance is leaving later on Monday to resume negotiations, “either Tuesday night or Wednesday morning,” Trump said. He is expected to be joined by Trump’s son-in-law Jared Kushner and special envoy Steve Witkoff.

The president sounded an optimistic note about the discussions, saying he would love to participate in person, but did not think it would be necessary.

“There’s going to be a meeting. They want a meeting, and they should want a meeting. And it can work out well,” Trump said.

At the same time, both sides sought to jockey for leverage ahead of negotiations. Iranian President Masoud Pezeshkian posted on X that “deep historical mistrust in Iran toward U.S. gov conduct remains” and declared that “Iranians do not submit to force.” That message came after Trump said Iran would “be hit very hard” if no deal is reached.

Trump’s comments and Tehran’s decision to dispatch negotiators represented fresh signals the two sides are continuing to work on a deal to end the war that began in late February, when the U.S. and Israel struck Iran.

Those attacks prompted Iranian forces to hit U.S. bases in the region and destroy oil and gas infrastructure belonging to American allies in the Persian Gulf, triggering a worldwide energy crisis.

But events of the last few days have shifted rapidly, underscoring the risks if the talks are derailed.

Equities dropped from all-time highs on Trump’s comments about a ceasefire extension, pausing a five-day winning streak. Oil prices rose Monday, with benchmarks up by more than 5% and Brent trading near $95 a barrel as of 12:50 p.m. in New York. Investors are closely watching how or when energy flows through the strait will meaningfully resume.

Last Friday, Trump posted on social media that a deal was all but agreed to and Iran announced it was reopening the strait. But shortly afterward, Tehran shuttered the waterway again when Trump declined to call off the U.S. blockade. Over the weekend, the U.S. Navy seized an Iranian-flagged cargo ship in the Gulf of Oman.

“I have it closed. I took their ship. I got five other ships I’ll take today if I have to,” Trump said in the phone interview.

Trump and advisers see his varying comments about what might happen if the ceasefire deadline lapses as creating strategic ambiguity that the U.S. could exploit in talks, said a White House official, who requested anonymity to describe internal thinking.

Yet that uncertainty has the potential to create misunderstandings with Iranian negotiators, who are simultaneously grappling with internal divisions among the country’s leaders.

Conservative elements within the Iranian government and military leadership, including those at the top of the Islamic Revolutionary Guard Corps, have taken the continuation of the U.S. blockade as a further signal that Trump can’t be trusted, according to U.S. and Iranian officials.

The IRGC’s leader, Ahmad Vahidi, is among those in that camp and is pushing for a tough negotiating stance, people familiar with the dynamics said.

There is a divide between the likes of Vahidi and less ideological figures, such as Pezeshkian and Foreign Minister Abbas Araghchi, who are more inclined to reach an accord with Washington, said the U.S. and Iranian officials.

Despite the standoff, there’s still a good chance of a deal between the U.S. and Iran in the next few days that effectively ends the war, even if more negotiations are needed over nuclear and military issues, the officials said.

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(With assistance from Ben Bartenstein, Fiona MacDonald, Josh Wingrove, Devika Krishna Kumar, Meghashyam Mali, Paul Wallace and John Bowker.)

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