Trump Rejects Iran's Ceasefire Response as 'TOTALLY UNACCEPTABLE' — Markets Brace Before Xi Summit

# Trump Rejects Iran's Ceasefire Response as 'TOTALLY UNACCEPTABLE' — Markets Brace Before Xi Summit

> **Quick answer:** President Trump publicly rejected Iran's May 10 ceasefire response on social media, calling it "TOTALLY UNACCEPTABLE" — hours after US envoy Steve Witkoff and Iranian FM Araghchi held 3+ hours of talks in Oman that both sides called progress. Iran's demands included war reparations, full Hormuz sovereignty, sanctions relief, and unfreezing of assets. S&P futures fell, the dollar strengthened, and oil held at $90-95 as markets recalibrate risk four days before Trump's May 14 summit with Xi Jinping.

President Trump's social media post on the evening of May 10 blew up the most optimistic diplomatic moment of the Iran war negotiations. While US envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi were still describing their latest Oman session as progress, Trump publicly rejected Iran's response — calling it "TOTALLY UNACCEPTABLE!" — and revived language about military options. The market reaction was immediate: S&P futures pulled back, the dollar climbed, and oil held its $90-95 floor as traders absorbed what the Trump rejection actually means for the path to a deal.

## The Diplomatic Whiplash: What Actually Happened on May 10

The timeline of May 10 tells a story of maximum diplomatic whiplash. Steve Witkoff, Trump's Middle East envoy, and Araghchi sat across from each other in Oman for more than three hours — the fourth substantive round of US-Iran negotiations since the ceasefire talks began. Omani Foreign Minister Badr al-Busaidi, the critical intermediary who has shuttled between the two delegations throughout, described the session as "difficult but constructive." Both sides indicated movement.

Then came Trump's post.