Iran and Oman are close to finalizing a proposed framework for commercial shipping through the Strait of Hormuz, Tehran’s deputy foreign minister said.

Iran and Oman are reported to be on the verge of signing a historic deal to reopen the Strait of Hormuz that would put Tehran in control of all inbound traffic.

"It could happen. Tomorrow or the next day," Trump said after traveling to Los Angeles for a fundraising event hosted by the Republican National Committee.