Vice President JD Vance said Wednesday that the text of the U.S.-Iran deal will be released Friday "at the latest," adding that the White House is pushing to release it as soon as Wednesday.

"We want to tell the American people what's in this deal," Vance said on "CBS Mornings."

President Trump announced Sunday that the U.S. had reached a deal with Iran. But the details of the deal have not been formally released. Both sides electronically signed the memorandum of understanding earlier this week, and a signing ceremony is expected to be held Friday.

Asked about the delay in releasing the agreement, Vance said Qatari and Pakistani negotiators, who helped mediate the agreement, "asked us not to release the full text for a little while." But he said "we're actually trying to push them to get it out today."

The vice president said he's seen the deal being misrepresented. He called it "fundamentally a good deal for the American people."

Vance said the agreement would reopen the Strait of Hormuz "immediately" and provide a framework "whereby if the Iranians give us what we need on stopping the funding of terrorism, on no longer pursuing a nuclear weapon, then they can get some benefits, be reinvited into the world economy."

"When I say benefits, I'm talking about sanctions relief on their economy," Vance said. "We've destroyed their nuclear program, but one of the things the president is trying to do is give them the incentive not to try to rebuild that program for the long haul."

Secretary of State Marco Rubio said earlier this month that the U.S. will help clear the mines in the Strait of Hormuz, a growing concern about reopening. Defense Secretary Pete Hegseth said Sunday on "Face the Nation with Margaret Brennan" that the administration is "already doing things I can't talk about" to ensure safe passage.

Vance, pressed by Norah O'Donnell on whether the deal includes reconstruction financing of at least $300 billion for Iran, ending all sanctions against the Islamic Republic, along with the release of all frozen funds, said Wednesday that "none of those things flow to Iran unless Iran fundamentally changes how it behaves with the world."

"What the president is really saying is, if Iran fundamentally transforms how it deals with the United States and the region, the rest of the world, then Iran can get some economic benefits," he said. 

Speaking to reporters earlier Wednesday at the G7 meeting in France, the president said the agreement is not a final deal, and he warned that the U.S. could resume its bombing of Iran "if they don't behave."