President Donald Trump has announced that the United States is rejecting Iran's latest counter proposal passed on by Pakistan, writing, "I don't like it– totally unacceptable."

President Donald Trump said the U.S. is close to signing a deal with Iran to wind down the war, with a memorandum of understanding to be signed in the coming days.

Trump said Iranian Supreme Leader Mojtaba Khamenei had signed off on the plan, which he said would be completed in coming days, paving the way for additional talks on Iran’s nuclear program.

The US and Iran moved closer to an interim peace agreement meant to reopen the Strait of Hormuz and help end a war that has damaged the global economy and caused chaos in the Middle East, but conflicting messages from both sides have caused lingering uncertainty.

An interim deal between the US and Iran would extend the ceasefire, reopen the Strait of Hormuz, and pave the way for talks on Iran’s nuclear program, a diplomatic source told CNN.

"We just made a great settlement of the war with Iran", Trump told reporters in the Oval Office.