US President Donald Trump on Sunday said he has told representatives 'not to rush into a deal with Iran', hours after saying an agreement had been 'largely negotiated', prompting media speculation about an announcement.

The deal, if reached, is expected to end the war, reopen the Strait of Hormuz and see Iran give up its stockpile of highly enriched uranium, according to media reports.

Writing on his social media platform, Truth Social, Trump said "constructive" talks were underway but "both sides must take their time and get it right".

According to Trump, negotiations were “proceeding in an orderly and constructive manner", and the relationship with Iran was becoming “much more professional and productive".

He pushed back against criticism by some fellow Republicans seeking a tougher approach on Iran as both sides seem close to a deal in recent weeks.