When is Trump's deadline for Iran? Markets brace for 8 p.m. ET ultimatum

U.S. President Donald Trump stated that the Tuesday, April 7, deadline has been set for Iran to make a final deal.

Trump confirmed that the deadline will not be extended, citing that Iran’s peace proposal is significant but not good enough, as the deadline is approaching.

If there’s no settlement before the deadline, Trump warned that U.S. forces will directly attack Iranian infrastructure, including power plants and bridges.

Till now, Iran has not opened the Strait of Hormuz.

While speaking at an Easter egg event at the White House, Trump acknowledged a recent Iranian proposal but dismissed it as insufficient.

While talking to reporters, he said, “They made a proposal, and it’s a significant proposal. It’s a significant step. It’s not good enough.”

Earlier, Trump extended the initial deadline but gave no hint whether this would be the case this time or not.

U.S. and Israeli strikes on Iran have intensified in recent days, with explosions reported on Iran’s Kharg Island.

Officials confirmed that they targeted the island overnight.

Following the news, oil prices edged higher with Brent crude trading over $110 a barrel as markets braced for the expiration of Trump’s ultimatum at 8 p.m. ET Tuesday.