Trump rejects Iran’s proposal to reopen Hormuz

US President Donald Trump on Saturday rejected Iran's proposal to reopen the Strait of Hormuz within a week if the US meets certain conditions.

Iran offered this week to reopen the strait and resume talks on its nuclear programme in seven days if the US lifts its naval blockade of Iranian ports, waives sanctions on Iranian oil sales and observes a ceasefire that would include Lebanon.

But on Saturday, Trump rejected the proposal saying Iran wanted to make a deal because it was "losing so badly."

"They want to make a deal and I think that's fine," Trump told reporters outside the White. "I'd like to make a deal, too. But that deal would not be acceptable."