President Donald Trump has warned that the latest round of negotiations with Iran represents the ‘last chance’ to bring an end to a conflict that has lasted five months, according to CNBC.

The remarks frame the current talks as a decisive moment in efforts to de-escalate the standoff. By characterizing the negotiations as a final opportunity, the president signaled that the window for a diplomatic resolution may be narrowing.

Reporting indicates that a deal concerning the Strait of Hormuz is in sight, a reference attributed in the coverage to Bessent. The Strait of Hormuz is a critical waterway, and any agreement involving it would carry significant implications for the region.

The CNBC report, published on August 4, 2026, ties the president’s warning directly to the prospect of an emerging Hormuz agreement, suggesting the two developments are closely linked in the ongoing negotiations.

Beyond the president’s warning and the reference to a possible Hormuz deal, further specific details about the terms of the negotiations, the participants, or the timeline were not provided in the available source material.

As talks continue, the framing of this round as a ‘last chance’ underscores the stakes for both sides in seeking to end a conflict that, by the report’s account, has now stretched across five months.