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

By and
Published  April 30, 2026 5:29am CDT
Iran War
FOX Local

The Brief

    • President Trump indicated the U.S. would not accept Iran’s most recent proposal.
    • The U.S. had redirected 42 vessels since the blockade began, CENTCOM reported, estimating a loss to the Iranian government of $6 billion.
    • Pentagon CFO Jules W. Hurst III estimated the war has cost the U.S. $25 billion so far.

The United States would reject Iran’s latest offer to open the Strait of Hormuz in exchange for the U.S. lifting its blockade and putting the nuclear program issue on hold, President Donald Trump told Axios on Wednesday. 

Additionally, Trump told aides to prepare for a longer blockade. Meanwhile, the U.S. Central Command celebrated redirecting another vessel Wednesday, the 42nd one since the blockade began, and Adm. Brad Cooper called it a "significant milestone." He added that the previous 41 ships held a combined 69 million barrels of oil and estimated the loss to the Iranian government at $6 billion. 

While the ceasefire is holding, the American public learned of the cost of the conflict. Pentagon CFO Jules W. Hurst III estimated the U.S. has spent $25 billion, mostly on munitions, so far. During a nearly six-hour hearing on Capitol Hill on Wednesday, Defense Secretary Pete Hegseth refused to answer a congress member's questions about how long the war may last or what the final bill could be.

Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz. Iran's latest proposal for ending its blockade of the Strait of Hormuz calls on the United States to end its naval blockade of Iran's ports, and sets a

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Here’s the latest for Thursday: 

Hegseth, Caine set for another day before congress

8:11 a.m. ET: Secretary of War Pete Hegseth and Chairman of the Joint Chiefs of Staff Dan Caine are expected to face the Senate Armed Services Committee today. 

Lawmakers are expected to question their handling of the Iran war and their proposed military budget for 2027. 

USS Ford heading home

6:18 a.m. ET: The USS Gerald Ford will be heading home after a record deployment overseas. 

The Ford spent over 300 days at sea participating in the Iran war and capture of former Venezuelan President Nicolás Maduro.

The ship broke the U.S. record for longest post-Vietnam War deployment. It will be leaving the Middle East in the next few days and expected to arrive back at its home port in Norfolk, VA in June. 

The Source: Information for this article was taken from the Associated Press and FOX News. This story was reported from Orlando.

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