He also listed what a potential deal would need to include: Iran agreeing not to develop a nuclear weapon, the reopening of the Strait of Hormuz, the removal of any sea mines, the lifting of the US blockade on Iran and the removal and destruction by the United States of Iran's highly enriched uranium.
"No money will be exchanged, until further notice. Other items, of far less importance, have been agreed to. I will be meeting now, in the Situation Room, to make a final determination," Trump posted on Truth Social.
A senior Iranian source told Reuters that a political understanding over the war had been reached but not yet finalised.
The Iranian Fars news agency, citing sources, said there was a "mixture of truth and falsehood" in Trump's comments which were an "attempt to portray a fabricated victory".
Trump confirmed the high-level White House talks a day after several news outlets reported that US and Iranian negotiators had come to terms on a tentative agreement.
According to a US official familiar with the matter, the tentative agreement would continue the ceasefire in the three-month-old war by 60 days and start a new round of talks on Iran's disputed nuclear program.
US Vice President JD Vance said on Thursday that the sides continued to debate "a couple of language points" and he could not say whether Trump would approve the proposal.
Iranian parliament Speaker Mohammad Bagher Qalibaf said on Friday on X that his country has "no trust in guarantees or words," only actions, and "no step will be taken before the other side acts".
"We do not gain concessions through talks, but through missiles. In negotiations, we only make them understand that," wrote Qalibaf, who was involved in negotiations in Qatar this week.
He added: "The winner of any agreement is the one who is better prepared for war the day after it is signed."
with AP