Trump says U.S. does not ‘need a deal with Iran’

U.S. President Donald Trump said on Thursday (November 12, 2026) that he was directing Vice-President J.D. Vance to focus completely on domestic anti-fraud efforts and not negotiations towards a deal to end the war with Tehran.

“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!” Mr. Trump wrote on his Truth Social platform. His comments came shortly after the Wall Street Journal reported on Wednesday (November 10, 2026) that Mr.

Vance was mulling face-to-face talks with a top Iranian security official. The Journal’s report added Mr. Trump had told aides and counterparts that he was open to Mr. Vance reopening talks with Tehran and that the president had empowered Mr.

Vance to negotiate. Such an in-person meeting would mark an unusual move. Oil prices rose after Mr. Trump’s remarks on social media, while Wall Street futures slipped further. Mr. Trump’s comments also come after his Republican Party was hit by sweeping losses in this month’s midterm elections, with Democrats gaining control of Congress.

Anger over war with Iran, which has caused fuel prices to surge in the United States, has been seen as a key factor pushing voters away from Republicans. Mr. Vance was among Republicans to blame the Iran war for the party’s losses at the ballot box.

The conflict has been ongoing since U.S.-Israel strikes on Iran in late February, prompting Tehran to choke off the Strait of Hormuz, a critical waterway for energy transit. The blockage has wreaked havoc on the world economy, causing energy costs to rocket.