Trump says Iran will be bombed 'at much higher level' if they don't agree to peace deal

Key Points:

• U.S. President Donald Trump warned that Iran would face intensified bombing if it rejects a proposed peace deal aimed at ending the ongoing conflict and reopening the Strait of Hormuz to all vessels.
• The potential agreement, reported by Axios, involves Iran agreeing to a nuclear enrichment moratorium, the U.S. lifting sanctions, and mutual withdrawal of controls on ship transits through the Strait of Hormuz, with responses from Tehran expected within 48 hours.
• Market reactions to the news were positive, with oil prices falling sharply and global stock and bond markets rallying, reflecting optimism about a resolution to the two-month conflict.
• Despite a ceasefire since April 7, hostilities have continued intermittently, including recent Iranian attacks on U.S. forces and the UAE, and U.S. military responses; however, Trump recently paused "Project Freedom" to facilitate peace talks.
• Iranian officials are currently evaluating the U.S. 14-article peace proposal, and Pakistani officials also indicated a peace proposal is likely soon, signaling cautious optimism for an end to the conflict.