Vessels in the Strait of Hormuz near Bandar Abbas, Iran, May 4, 2026.

Amirhosein Khorgooi | ISNA | WANA | Via Reuters

President Donald Trump said Tuesday he is pausing " Project Freedom ," the U.S. military's effort to guide commercial ships out of the Strait of Hormuz, one day after the operation began.

Trump, in a Truth Social post , said the decision was based in part on "the fact that Great Progress has been made toward a Complete and Final Agreement" with Iran.

Project Freedom "will be paused for a short period of time to see whether or not the Agreement can be finalized and signed," Trump wrote.

Stock futures rose following Trump's announcement, which raised hopes for a peace agreement that would end the U.S.-Israeli war in Iran and reopen the economically vital strait.

Trump announced Project Freedom on Sunday evening, saying the U.S.…