Newsweek is reporting that the United States and Iran have announced a new ceasefire and a roadmap to end the war, with a signing ceremony scheduled for Friday in Geneva. It said that oil prices are tumbling and stocks are jumping following the announcement, as President Donald J Trump travels to France for a previously scheduled G7 leaders summit.
Newsweek said the White House has not released the text of the agreement, leaving observers to interpret details from Trump's social media posts, impromptu calls with reporters, leaks from Iranian media and reactions from Congress and Israel. It noted that the reaction from Israel has been negative, with Prime Minister Benjamin Netanyahu not a party to the deal. The agreement is reportedly predicated on an immediate end to military operations in Lebanon, a condition Israel has not clearly agreed to. Newsweek expressed concern that Israel might take action this week to prevent the deal from being signed.
The publication reported that Trump authorized the immediate removal of the naval blockade on Iran's ports, a condition he had previously set for a full deal. It also said Trump authorized the "toll free opening of the Strait of Hormuz," noting that this effectively returns the strait to its pre-war status. Newsweek highlighted that details regarding Iran's nuclear and ballistic missile programs, Tehran's support for proxies like Hezbollah and Hamas, and sanctions relief remain unknown.
Newsweek characterized the agreement as an "utter failure for Trump and utter embarrassment for the United States of America," suggesting Iran outlasted the U.S. It speculated that the nuclear issue might eventually lead to a deal resembling the Joint Comprehensive Plan of Action (JCPOA) that the Obama administration negotiated and Trump withdrew from. The publication also observed that the initial justification for the war, to "help" the Iranian people, has been "completely memoryholed." Newsweek concluded that this represents the "biggest foreign-policy debacle of Trump's two terms," demonstrating U.S. weakness to China and underscoring the effectiveness of asymmetric warfare.