President Donald Trump has announced that a peace deal between the US and Iran will be signed tomorrow and that the Strait of Hormuz will reopen immediately after. 

Trump shared the latest update on Truth Social on Saturday afternoon, stating the narrow and vital waterway will once again be 'OPEN TO ALL' after the deal is signed on Sunday - the same day as his 80th birthday. 

'The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL. Our relationship with Iran is a much different and better one than previous Administrations have had,' the commander-in-chief wrote. 

The beginning of his post slammed former President Barack Obama, with Trump stating that his administration's deal 'is the exact opposite' from his, and that the middle eastern country 'no longer want a nuclear weapon'. 

While in office, Obama penned the Joint Comprehensive Plan of Action, or the Iran Nuclear Deal. It limited Iran's nuclear program in exchange for sanctions relief. 

'Unlike Obama’s Hundreds of Billions of Dollars in payments to them, including 1.7 Billion Dollars in green, cold cash, no money will exchange hands.

'At the appropriate time, when all is calm, we will go in and get the Nuclear Dust, buried deep under the powerful sunken granite mountains, thanks to our beautiful B-2 Bombers and their brilliant pilots, and downblend and destroy it, whether in Iran, or the United States,' he said referring to Iran's highly enriched uranium supply. 

'We look forward to working with Iran, and the entire Middle East, long into the future. 

'Hopefully, this process will all work out quickly, easily, and smoothly. If it doesn’t, we have the ultimate alternative, hopefully never to be used again! Thank you for your attention to this matter!!! President DONALD J. TRUMP,' he concluded.  

Despite Trump stating a deal will be reached in less than 24 hours, an Iran spokesperson said it would not be signed by then, the New York Times reported.  

Esmail Baghaei, a foreign ministry spokesperson, said that a final deal 'could take place in the coming days', per the report.

Baghaei also noted that discussions over Iran's nuclear capabilities would take place over a 60-day time period after an initial agreement is met, the outlet stated. 

According to the NYT, if the agreement is signed on Sunday, it would be done electronically. 

Though it is highly uncommon for diplomatic agreements to be done virtually, Trump is expected to be in Washington DC on Sunday to ring in his birthday with the UFC fight outside the White House. 

The deal would effectively end the war between the US and Iran, and it would open up body of water for commercial tanker to get through without being attacked. 

Breaking news... updates to follow.