The United States and Iran are reportedly poised to sign an agreement that would immediately reopen the Strait of Hormuz for shipping without tariffs. According to a diplomat involved in the mediation and a U.S. official, the deal hinges on Iran’s adherence to the agreed-upon terms. This potential agreement could lead to the lifting of sanctions currently imposed on Iran. President Donald Trump has publicly stated a deal is imminent. Details beyond the reopening of the strait and sanctions relief remain scarce. The agreement appears to be a significant development in de-escalating tensions between the two nations. Further information regarding the full scope of the agreement is expected to be released upon signing.