US Suspends Bombing of Iran for Two Weeks Amid Ceasefire Negotiations

US President Donald Trump announced on Wednesday that the United States will suspend bombing operations against Iran for two weeks. The suspension is subject to Iran opening the Strait of Hormuz to shipping traffic. Trump described the arrangement as a double-sided ceasefire.

Trump stated that the US received a 10-point proposal from Iran. He rejected an earlier ceasefire proposal as not good enough, according to The New York Times. The announcement came as a Tuesday evening deadline for a deal approached.

urged all parties to exercise restraint and respect the ceasefire for two weeks.

Iran's President conveyed to Sharif a condemnation of ceasefire breaches on the Iranian islands of Lavan and Siri, which occurred on Wednesday morning, per Iranian media. No further details on the breaches were provided in available reports.

stock prices reversed some recent movements following the announcement, as a full peace deal remains uncertain.

Markets shifted toward expectations of a potential Federal Reserve interest rate cut this year, with odds reaching about 43% on Wednesday morning, according to CME Group data from CNBC. The suspension provides a temporary pause in hostilities but does not resolve underlying tensions over the Strait of Hormuz.

Analysts noted that the 10-point Iranian proposal offers a basis for further talks, though Trump indicated ongoing evaluations.

The ceasefire follows escalated military actions between the US and Iran.

Trump's decision extends a previous deadline by two weeks, creating space for negotiations. Ian Bremmer commented that the move justifies the extension but emphasized that the conflict is not over.