President Donald Trump said it is “highly unlikely” he will extend the current ceasefire with Iran beyond its looming deadline, increasing pressure on negotiators to secure a broader agreement within days.

Trump told Bloomberg News in an interview that the two-week truce he announced earlier this month is set to expire Wednesday evening and is unlikely to be prolonged without meaningful progress.

The Hill first reported that Trump is signaling little appetite for an extension, citing administration officials who say the president prefers a final agreement rather than another temporary pause.

Trump said, “We’ll see what happens,” but stressed that extending the ceasefire is “highly unlikely,” casting the deadline as a critical test for diplomacy.

He also indicated that the United States will maintain pressure measures tied to the conflict, including restrictions affecting the Strait of Hormuz, a vital route for global oil shipments.

Bloomberg reports that this stance has kept energy markets on edge, as traders weigh the risk of renewed disruption in a corridor that carries a significant share of the world’s crude supply.

Vice President JD Vance is expected to travel to Pakistan to resume negotiations.

Trump said talks could restart as soon as this week as part of a diplomatic push involving Islamabad.

The ceasefire followed weeks of heightened tensions and military exchanges earlier this year, which raised fears of a broader regional conflict before the truce was put in place.

Despite the pause in fighting, major gaps remain between Washington and Tehran on core issues, including Iran’s nuclear program, sanctions relief, and long-term security guarantees.

Bloomberg reported that U.S. officials are pressing for strict limits on Iran’s nuclear activities, while Iranian leaders have resisted what they describe as excessive demands and continued economic pressure.

The Hill similarly reported that the two sides remain far apart, with Iran signaling reluctance to reengage under current conditions and warning it will not negotiate under pressure.

Recent U.S. enforcement actions tied to sanctions and maritime security have further complicated diplomacy, with Iranian officials accusing Washington of undermining trust even as talks continue.

Trump has maintained that a deal remains possible, telling Bloomberg that progress can be made if Iran agrees to U.S. terms, while also warning that military options remain available if negotiations fail.

He has suggested he could become directly involved if talks advance, while expressing skepticism about Iran’s willingness to compromise before the deadline.

The mixed signals have created uncertainty in global markets and among U.S. allies, as hopes for a breakthrough compete with concerns about a return to hostilities.

With the ceasefire set to expire within days, officials and analysts cited by Bloomberg and The Hill say the coming hours will be critical in determining whether diplomacy can deliver a lasting agreement or give way to renewed conflict.