The Trump administration claims to be making progress in peace negotiations with Iran, with reported draft terms including reopening the Strait of Hormuz and Iran committing to forgo nuclear weapons development.

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The Trump administration signaled progress on peace talks with Iran. A draft for a potential agreement includes the reopening of the Strait of Hormuz and a commitment by Iran to never develop a nuclear weapon, CBS News has learned. CBS News' Nikole Killion and Imtiaz Tyab have more.

Where the U.S.-Iran peace deal stands as Trump says negotiations are "proceeding nicely"