Trump Expects Iran Negotiations to Begin Soon, Cites 'Last Chance' for Deal

Why it matters locally: Potential disruptions to global oil markets due to tensions in the Strait of Hormuz could indirectly affect gasoline prices for New Jersey consumers and transportation costs for businesses across the state.

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WASHINGTON D.C. — President Donald Trump announced Monday from the Oval Office he anticipates negotiations with Iran will begin within the next day or two. The President characterized these upcoming discussions as a "last chance" for Iran to reach an agreement. Trump described the expected talks as a pathway for Iran to address the United States' concerns regarding its nuclear program. He also indicated the negotiations would focus on reopening the Strait of Hormuz, a critical shipping lane.