Iran latest: Trump says China wants Strait of Hormuz reopened, opposes tolls

Spiked fuel prices continue to rattle the world economy as talks between the United States and Iran to find a resolution to the war appear to have no end in sight. 

Data released by the Labor Department on Tuesday showed gas prices jumped 5.4% with average regular gas costing more than $4.50 a gallon, according to AAA. 

Meanwhile, during an interview with FOX News’ Sean Hannity on Thursday, Trump said Xi pledged to not provide military equipment to Iran.

What they're saying:

"He said he's not going to give military equipment. That's a big statement," Trump said. "He said that today. That's a big statement. Said that strongly."

The president also renewed pressure on Tehran to reach an agreement before the conflict escalates further.

"They should make a deal," Trump added. "Any sane person would make a deal, but they might be crazy."

The Ateela 2 Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz. (Photo by Asghar Besharati/Getty Images)

Here’s the latest from Friday: 

China wants Strait of Hormuz reopened

8:05 a.m. ET: President Trump said Chinese President Xi told him he wants opposes tolls and wants the Strait of Hormuz reopened. 

China's Ministry of Foreign Affairs also reiterated similar statements in a bilateral meeting during Trump's visit to China. 

"Now that the door for dialogue has been opened, then it shouldn’t be shut again," China’s Ministry of Foreign Affairs said in a statement Friday, adding that the solution should "take into account the concerns of all parties on the Iran nuclear issue."

"Shipping routes should be reopened as soon as possible," the ministry said.