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Trump suggests 'joint venture' with Iran in Strait of Hormuz

US President Donald Trump told ABC News on Wednesday morning that the U.S. may seek a "joint venture" with Iran to safeguard the Strait of Hormuz, following his Tuesday announcement of a two-week ceasefire.

"We're thinking of doing it as a joint venture. It's a way of securing it -- also securing it from lots of other people," Trump said when asked whether he would allow Tehran to charge tolls for shipping to transit the strategic waterway. "It's a beautiful thing," the president added.

Trump also said he would not allow Iran to retain any uranium enrichment capabilities, despite Tehran's repeated assertions that it will not give up its freedom to do so. "There won't be any enrichment," Trump said.

American forces in the region will also not be leaving, Trump said, suggesting they would remain in place to enforce any future agreement.

Trump said he expected peace talks to start on Friday and to move very quickly. The president also confirmed that China played a key role in dealing with the Iranians.

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