US, Iran may reach Hormuz deal by Tuesday or Wednesday: Treasury chief

The US and Iran could reach a deal by Tuesday or Wednesday to reopen the Strait of Hormuz and restore freedom of movement for commercial ships, US Treasury Secretary Scott Bessent said Tuesday.

"We are in talks with the Iranians," Bessent told CNBC. "There is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized position in this conflict."

Asked whether Iran would be allowed to charge a toll, Bessent said the agreement would allow freedom of movement in the strait.

"It would be freedom of movement," Bessent said. "Even though things are still a little dicey there over the past few days, we saw quite a few ships coming out even now."