Khamenei Says Jihad. Trump Says Bombing. Good Luck Tomorrow.

In a live phone interview with CNBC's Joe Kernen this morning, President Trump laid out the full U.S. posture on Iran a day before the ceasefire expires. He said the military is ready, that he expects to be bombing if there is no deal, that the blockade has been a success, and that he does not want to extend the ceasefire. He also kept the carrot on: Iran, he said, has no choice but to make a deal, and can become a "legitimate" and "wonderful nation again."

Meanwhile in Islamabad, Pakistani mediators told AP that VP JD Vance and Iran's Parliament Speaker Mohammad Bagher Ghalibaf will both arrive tomorrow for the next round of negotiations. Vance is expected to depart the U.S. later today. Iranian officials have still not officially confirmed participation. Regional intelligence sources tell reporters Tehran sees this moment as a game of endurance.

Pakistan has increased security in Islamabad but not imposed a lockdown, per the Wall Street Journal. A Pakistani source told Al Jazeera talks are expected to begin tomorrow at noon. Qatar's Foreign Ministry confirmed it is closely following the negotiations. Regime mouthpiece Mohammad Marandi publicly advised Vance to unpack his suitcases and stay home.

The Military Is Ready to Go

Kernen asked Trump directly whether failure to secure at least the prospect of a signed deal by today or tomorrow would trigger a resumption of strikes. His answer left no room.

"Well, I expect to be bombing, because I think that's a better attitude to go in with. But we're ready to go."

— President Trump · CNBC with Joe Kernen

Trump doubled down on the military posture across the interview. "The U.S. military is ready to go in Iran." "We're ready to go militarily." "We have much more equipment than a few weeks ago." And a striking concession on the ceasefire itself: "We are totally loaded with ammunition. We are much stronger than we were before the ceasefire. We used the ceasefire to replenish our stock, and they probably replenished their stock a bit too."

He said Iran is actively moving assets. "Iran is trying to move their missiles." He framed the campaign as already won: "We've totally won the war. If we left right now, it would take Iran 20 years to rebuild."

Trump also made the market case for the strike campaign. "You want to see a bad stock market? Try blowing up the Middle East and then Europe, and then they come for us." He said he told Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick he was going to "put a little wrinkle in your numbers" by moving on Iran, because Tehran "will blow up the world."

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Carrots, Sticks, and the Clock

The ceasefire expires tomorrow. Trump told CNBC directly he does not want to extend it. "I don't want to do that. We don't have that much time." Al Arabiya, citing Pakistani media, reports Pakistan asked the U.S. and Iran to extend by two more weeks. PM Shahbaz Sharif may announce an extension tomorrow. Trump's on-record position is that he does not want one.

He held the carrot up in the same breath. "We will get a great deal with Iran. They have no choice. We are in a very strong negotiating position." Iran, he said, "can make itself into a legitimate country" and "a wonderful nation again. They have incredible people. They have to use reason, and they have to use common sense." And on pace: "I'm not going to be rushed. I have all the time in the world to make a great deal."

Sideband: Trump said a currency swap with UAE is under consideration in connection with the Iran file, and that the U.S. could consider financially assisting the UAE.

"We Totally Control the Strait of Hormuz"

The deadlock is on the record from both sides. The Islamic regime's position: no negotiation while the blockade is in place. Trump told CNBC: "We will absolutely not lift the naval blockade until a deal is reached." And he declared it a win. "The blockade has been a success. We totally control the Strait of Hormuz." On commercial impact: "The Strait's very important, but ships are finding alternative routes."

CENTCOM (U.S. Central Command) confirmed 27 vessels have been directed to turn around or return to Iranian ports since the blockade began. Only 12 ships crossed the Strait of Hormuz in the past 24 hours, according to NBC News citing MarineTraffic data. Overnight, U.S. naval forces boarded the Botswana-flagged oil tanker M/T TIFANI in the Indo-Pacific. The vessel, sanctioned by the U.S. Treasury for providing material support to Iran, was reported stateless at the time of boarding.

Trump pointed the finger at Beijing. "We caught a ship yesterday that had some things on it that weren't very nice. A gift from China, perhaps, I don't know. I am surprised. I thought I had an understanding with President Xi." He added: "That's the way war goes." The cargo has been described publicly only as "concerning," with weapons suggested.

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IRGC Holds the Veto

Iranian political leadership signals interest under heavy constraints, but the Islamic Revolutionary Guard Corps (IRGC) is firmly against any compromise. Tasnim, Iran's semi-official news agency, reported the IRGC position is unchanged: no participation in Islamabad talks until key obstacles are addressed, chief among them the U.S. blockade. A separate Tasnim report said Iran is "ready for the possibility of a renewal of the war."

Mojtaba Khamenei, the Supreme Leader's son and heir apparent, issued a direct message to the Guards: "In today's critical circumstances, preserving and promoting the spirit of jihad and revolution must be considered the essence and engine of the movement of the Guards." IRGC Quds Force Commander Esmail Qaani was reportedly in Baghdad yesterday, meeting armed faction leaders to coordinate for a potential new round of fighting. Majles National Security Committee member Abolfazl Zohrevand stated publicly that "Iran's survival depends on destroying its enemies."

Ghalibaf, Iran's lead negotiator, told Trump that ahead of negotiations Tehran has spent the past two weeks preparing new "cards" on the battlefield, and sent a separate direct message: "Trump, by imposing a siege and violating the ceasefire, seeks to turn this negotiation table into a table of surrender. We are ready for martyrdom." Iranian FM Abbas Aragchi told Sergey Lavrov that "the illegal behavior and contradictory positions of the U.S. are incompatible with diplomacy."

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Trump used a live CNBC interview to set the terms publicly before the ceasefire expires. The military is loaded. The blockade is holding. The Strait is under U.S. control. The ceasefire will not be extended. Iran "has no choice." Vance and Ghalibaf are expected in Islamabad tomorrow, but Tehran has still not officially signed off, the IRGC is rejecting compromise, and Ghalibaf is quoting martyrdom. "Expect to be bombing" was not a slip. It was the posture.