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U.S. President Donald Trump asserted on Tuesday that no talks with Iran are underway or scheduled, and he maintained that the Strait of Hormuz remains open for shipping. This statement directly countered earlier Iranian claims that the critical waterway was shut down.

The receding prospects for a deal to end the nearly six-month conflict have influenced market dynamics, contributing to rising oil prices, sagging stock markets, and multi-decade high borrowing costs for major economies. Concerns persist regarding the long-term inflationary and fiscal consequences of the ongoing crisis.

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There are no talks or conversations going on, or scheduled, with Iran. The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated.

A temporary ceasefire agreement expired on Monday. A senior Iranian official indicated that Iran was adopting a "fully offensive" military posture due to the diplomatic stalemate, although no new strikes were reported on Tuesday. Trump stated on Truth Social, "There are no talks or conversations going on, or scheduled, with Iran." He added, "The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated."

These remarks contrasted with those of Jared Kushner, Trump's son-in-law and special envoy, who had expressed optimism on Monday, suggesting talks with Iran were ongoing and "probably more robust" than ever. Despite Trump's confident statements, preliminary shipping data from Tuesday indicated that ship crossings via the Strait of Hormuz were minimal on Monday. The United Kingdom Maritime Trade Operations reported that a vessel sustained engine room damage and a crew casualty after being struck by an unknown projectile while transiting the Strait of Hormuz.

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The talks with Iran are still under way and are probably more robust than they have ever been.