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

Amirhosein Khorgooi ISNA | WANA | Via Reuters

President Donald Trump said Tuesday he was pausing Project Freedom, the U.S. military’s attempt to escort merchant ships out of the Strait of Hormuz, a day after the operation began.

Trump said in a Truth Social post that the decision was based in part on “the fact that great progress has been made toward a full 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 after Trump’s announcement, which raised hopes for a peace deal that would end the US-Israeli war in Iran and reopen the economically crucial strait.

It also marked a surprising about-face from the Trump administration, which just hours earlier had portrayed Project Freedom as a matter of life or death for thousands of civilian sailors.

According to the Trump administration, nearly 23,000 sailors on ships from 87 countries are stranded in the Persian Gulf because Iran has effectively closed the Strait of Hormuz.

Secretary of State Marco Rubio said Tuesday afternoon at the White House that the goal of Project Freedom is to “rescue” those sailors who have been “left to die” by the Iranian regime.

“Nations around the world, the vast majority of which are not even engaged in military hostilities, now risk losing not only their cargo but also the lives of their own citizens as a result of this blockade,” Rubio said.

“They are stuck. They are isolated, they are starving, they are at risk, and at least 10 sailors have already died as a result of the Iranian blockade,” he said.

Trump announced Project Freedom on Sunday night, saying the U.S. had assured countries whose ships were stranded because of the war that it would “safely guide their ships out of these restricted waterways.”

The US Central Command said on Sunday evening that the military would deploy “guided missile destroyers, over 100 land and sea aircraft, unmanned multi-domain platforms and 15,000 soldiers” to support the operation.

Defense and geopolitical experts told CNBC on Tuesday they were skeptical that Project Freedom would achieve its goals.

Meanwhile, Iran had responded to the US military moves with renewed hostility, further straining the already shaky ceasefire with the US

The United Arab Emirates said on Monday it was attacked with ballistic missiles, cruise missiles and drones from Iran, leaving three injured.

CENTCOM commander Adm. Brad Cooper told reporters the same day that Iran’s Islamic Revolutionary Guard Corps “fired multiple cruise missiles, drones and small boats at ships we protect.”

On Monday, a South Korean-operated ship also caught fire in the Strait of Hormuz. Trump later said Iran had attacked it.

Trump’s post announcing Project Freedom appeared to foresee that the move could undermine diplomatic efforts with Tehran.

“I am fully aware that my representatives are holding very positive talks with the country of Iran and that these talks could lead to something very positive for everyone,” he wrote. “The movement of ships is simply intended to liberate people, companies and countries who have done absolutely nothing wrong – they are victims of circumstance.”

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