Iran war latest: Trump rejects latest peace proposal

President Donald Trump has rejected Iran’s latest proposal to end the war as the conflict enters its third month. 

"They want to make a deal, I’m not satisfied with it, so we’ll see what happens," Trump said Friday. He didn’t elaborate but expressed frustration with Iran’s leadership, calling it "very disjointed."

Despite the extension of a shaky ceasefire agreement, Iran continues to keep a tight grip on the Strait of Hormuz, and the U.S. Navy’s blockade on Iranian ports remains.

The war’s impact on oil prices has raised the cost of food, fuel and other products that are made from petroleum.

An armed Iranian police officer stands guard on an armored vehicle, monitoring the area during a state-run religious rally in downtown Tehran, Iran, on April 29, 2026, as a ceasefire is extended. (Photo by Morteza Nikoubazl/NurPhoto via Getty Images)

The U.S. has spent an estimated $25 billion so far on the war. 

Here's the latest from Saturday: 

US warns ships not to pay Iran to cross Strait of Hormuz

The United States is warning shipping companies against paying Iran to safely cross the Strait of Hormuz. The critical waterway, where a fifth of the world's trade in oil and natural gas was passing daily, has been mostly closed since the war began.  Iran began attacking and threatening ships after the U.S. and Israel launched the war, but later began offering some ships safe passage for a fee. 

Now, the U.S. says shipping companies could face sanctions for making payments to Iran in exchange for safe passage. 

The U.S. says payment demands could include transfers not only in cash but also "digital assets, offsets, informal swaps, or other in-kind payments," including charitable donations and payments at Iranian embassies.

Trump says Iran war 'terminated' as war powers deadline passes

Allen Weiner, senior lecturer in law at Stanford University, joins LiveNOW's Alexandra Goldberg to discuss the War Powers Act in relation to the conflict in Iran, which has now hit the 60-day mark.

War Powers deadline passes as lawmakers call for vote

The May 1 deadline for Congress to intervene in the war came and went Friday without any action. 

The War Powers Resolution of 1973 says Congress must declare war or authorize the use of force within 60 days of being notified of an attack. If Congress doesn't authorize further action, the resolution requires that the president "terminate any use" of the armed forces. The law allows the president to extend the period for an additional 30 days to safely withdraw forces from hostilities, but it does not grant him authority to continue an offensive campaign. 

RELATED: Trump rejects Iran’s offer, Pentagon CFO gives cost of war so far

The Senate rejected another Democratic attempt to stop the war, but some Republicans have signaled they want a vote on Iran. For the first time, Sen. Susan Collins voted with Democrats to stop the war, saying she wants to see a defined strategy to end the conflict.

"The president’s authority as commander-in-chief is not without limits," Collins said, adding that the 60-day deadline is "not a suggestion, it is a requirement."

Other GOP senators have also said they want to see a vote.

"It is time for decision-making from both the administration and from Congress — and that can happen in league with one another, not in conflict," said Sen. John Curtis.