The reported deal has split Trump’s Republicans, with some publicly arguing it is too lenient on Iran.

Senator Ted Cruz said it would be “a disastrous mistake”, while Roger Wicker, who chairs the Senate Armed Services Committee, said a 60-day ceasefire would mean “everything accomplished by Operation Epic Fury would be for naught!”

Senator Lindsey Graham, who is a close Trump ally, also criticised any deal that would leave Iran perceived as being a dominant force in the region.

“It makes one wonder why the war started to begin with,” he said.

Trump responded by saying he did not “listen to the losers, who are critical about something they know nothing about”.

“If I make a deal with Iran, it will be a good and proper one,” he wrote on Truth Social.

Even in a best case scenario, the effects of a deal are unlikely to be seen right away.

It could be months before the shipping industry will be able to go back to supply chains that are “physically in the same shape as they were before the crisis”, Lars Jensen, chief executive of Vespucci Maritime and former director of shipping company Maersk, told BBC Radio 4’s Today programme.

Should a deal between Iran and the US be announced in the coming days, the industry would still remain “cautious and hesitant” to make any “major operational changes”, Jensen explained.