Trump says Iran deal is "going to get done"

President Trump says he called off new strikes on Iran because he claimed there was a breakthrough in talks to end the war. CBS News has learned the deal would open the Strait of Hormuz and include a commitment by Iran not to enrich uranium for 15 to 20 years. That's if this gets signed. Mr. Trump insists Iran is on board. I would say they want to sign it more, maybe a lot more. But it's a very detailed memorandum of understanding. Also agreed to by many other countries that have great influence over them, and everybody wants it done. So it's going to get done.

A spokesperson for Iran's Foreign Ministry, however, says the deal is not done yet. He called this largely finalized, but he also said Tehran has not reached a final conclusion to end the war. Iran also accused the US of making new demands. We've got team coverage on this for you. Ramy Inocencio is covering the war's economic repercussions, but let's begin with CBS News Senior White House and Political Correspondent Ed O'Keefe, who has more on what we're hearing from the White House. Good morning, Ed. So what should we make of this so-called settlement with Iran? We've heard many weeks before that we've been close. We sure have, Errol. We've lost count of how many times the president has suggested we've been close to a deal. First of all, he had said it might be signed as soon as this weekend in Europe by Vice President Vance. We've gotten no word that that is the plan. No word from the Iranians or the Americans that they plan to be at some kind of signing ceremony. And even then, to call this a deal might be even going too far. As we understand it here at CBS News, this is some kind of a memo where the US and Iran would have 60 days to hammer out differences over how to handle Iranian nuclear sites. The president says that Iran would eventually hand over possession of what he has described as nuclear dust. Sources say as part of the agreement, Iran would also commit to not enrich uranium for 15 to 20 years, which is a key point for the president. And he has said that the Strait of Hormuz would immediately reopen, easing strains on oil markets upon signing. But again, Errol, there has been no word yet on whether, if, when, where this agreement would be signed. Let's cross over to another domestic topic relevant to our viewers. The president announced a new nominee for director of national intelligence. Tell us more about Jay Clayton. Yeah, so remember, Tulsi Gabbard is stepping down. The president had chosen a guy named Bill Pulte, who currently runs the Federal Housing Finance Agency, to be the acting director of national intelligence, but he has no national security experience. Republicans, especially-- Democrats, as always, raised concerns about this. And the president essentially forced to pick a permanent nominee because it was holding up passage of a key spy tool. The Foreign Intelligence Surveillance Act is set to expire today, and it probably will. But Congress is going to try to move in the coming days to reauthorize it now that the president has nominated Jay Clayton, who's the former head of the Securities and Exchange Commission, currently the top prosecutor for the Southern District of New York, to serve in the role. Clayton someone who has served in various Trump administration roles and most recently was on television earlier this week raising concerns about the results of California's elections. Take a listen to this. It makes you ask, is mail-in voting being used by one group and not another? Whether it's being used honestly or honestly and dishonestly is a question now everyone is asking. I am not speculating about fraud. I'm not saying there is fraud, OK? I am saying that the opportunity for fraud makes no sense to me when we can run a much better system. And that right there is part of the reason why the president is nominating President Trump-- or Jay Clayton to this position. Remember, there is no evidence of widespread fraud in California's recent elections. It takes time because millions of ballots are mailed in, and they have to be verified to ensure an accurate count. But the president and his supporters have raised concerns about how long it takes and don't like the fact that in the early results the day-of vote, the early vote, Republican candidates were doing better than they ultimately did in the final results. But the concern Democrats have about this, Errol, is that this director of national intelligence position may end up being used to somehow monitor, protect, raise questions about the midterm elections. And you've heard Democrats for the past year or so say the president is going to somehow use federal assets to show up at polling sites in key contests across the country. And the closer you get to November and you see him supporting people like this, the more you're going to hear the Democrats continue to raise those concerns that, for some reason, federal authorities may try to intervene in local and state elections. That, of course, could tip the balance of power here in Washington. All right, we'll continue to watch. To be continued. Yes, as I say as well, we'll watch all that closely. Ed, enjoy your weekend when you get there. You too.