This morning, the clock starting on a two-week ceasefire announced by President Trump,

a last-minute reversal on his threat to take the entire country out.

The U.S. has, quote, received a 10-point proposal from Iran and believes, quote, it is a workable

basis on which to negotiate.

Iran's forumists are confirming the reopening of the critical strait of Hormuz during this

ceasefire period.

After days of escalating tensions in the war between Iran and the U.S., the two countries

announced a ceasefire last night.

It was an off-ramp right at a moment of crisis.

Here's the Journal's Washington Bureau Chief, Damien Palletta.

For the U.S., it's not going to do what President Trump threatened to do, which was to blow up all their bridges, power plants, and things like that.

So for the next two weeks, the U.S. has essentially said they're going to stand back.

They'll still have the military there and be ready, but they're not going to continue bombing Iran.

Now, one of the big questions is, is Iran going to reopen this kind of waterway that is along its shore, the Strait of Hormuz, where a lot of commercial traffic goes through,

including a lot of traffic that carries oil, but also other things too.

While the U.S. and Iran have agreed to stop fighting for now,

Damien says this ceasefire is fragile.

These are two countries that have a long history of hating each other and not trusting each other.

Can they get to a place where they might see a mutually beneficial off-ramp?

I'm not sure, but it's where we are right now.

Welcome to The Journal, our show about money, business, and power.

I'm Jessica Mendoza. It's Wednesday, April 8th.

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