Trump sees potential Iran deal within 'a week': Fox News

President Donald Trump believes a potential agreement with Iran could be finalized within "a week," Fox News' Bret Baier said Wednesday.

"Well, I I had a phone call with the president, a short time ago, and he is optimistic about this deal, this memorandum of understanding, thinks it is going to lead to things.

"He's cautiously optimistic, I should say ... I asked him what the time frame would be, he puts it at a week getting everything wrapped up," Baier said during a live news broadcast.

He said "the key part" is getting the highly rich uranium out of Iran, and making sure the Strait of Hormuz is completely open.

Earlier Wednesday, Trump said Iran wants to negotiate and make a deal.

"We're doing very well in Iran. It's going very smoothly, and we'll see what happens. They want to make a deal, they want to negotiate," Trump said at the White House.

Regional tensions have escalated since the US and Israel launched strikes against Iran on Feb. 28, triggering retaliation from Tehran against Israel as well as US allies in the Gulf, along with the closure of the Strait of Hormuz.

A ceasefire took effect April 8 through Pakistani mediation, but talks in Islamabad failed to produce a lasting agreement. The truce was later extended by Trump without a set deadline.

Since April 13, the US has enforced a naval blockade targeting Iranian maritime traffic in the strait.

Trump announced Tuesday that the US military will temporarily pause "Project Freedom" to restore freedom of navigation for commercial shipping through the Strait of Hormuz, while he said the US blockade will remain "in full force and effect."