Trump didn't go into specifics as to why he found the proposal unsatisfactory.
President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes targeting military, government and infrastructure sites.
Delegations from the U.S. and Iran entered negotiations in June aimed at a war-ending deal based on a memorandum of understanding signed by both countries.
Those talks broke down as the U.S. and Iran continued to exchange strikes, with the strategic Strait of Hormuz as the primary flashpoint. Trump then said in August that the U.S. would launch a "crushing economic operation" to force Tehran into submission.
Iran's Islamic Revolutionary Guard Corps Navy on Sunday claimed to have seized a U.S. Remus 600 unmanned underwater vehicle operating in the Strait of Hormuz, according to a statement published by state media.
The Pentagon did not immediately comment on the IRGC's claim.
-ABC News' Guy Davies
Ali Mohammadi, the deputy political commander of the Islamic Revolutionary Guard Corps Navy, said on Saturday that Iranian forces would target American vessels in the Indian Ocean if heavy fighting with the U.S. resumes.
“If another war breaks out, we will undoubtedly attack and hit their vessels and destroyers even in the Indian Ocean,” Mohammadi said, in comments published by the semi-official Fars News Agency.
The Indian Ocean sits beyond the southern entrance to the Strait of Hormuz and the Gulf of Oman, which have been the focus of Iranian and U.S. maritime actions during the ongoing conflict. U.S. vessels have been operating in the Indian Ocean to enforce their blockade of Iranian ports and shipping.
-ABC News’ Somayeh Malekian
President Donald Trump said Saturday morning that he rejected Iran’s seven-day plan to reopen the Strait of Hormuz, though he did not go into specifics as to why he found the proposal unsatisfactory.
"Well, I'm rejecting their deal. They want to make a deal where we open the Strait immediately because they're losing so badly," Trump said. "We're winning tremendously. We have total control of the Hormuz Strait."
"They want to make a deal. I think that's fine, I like making a deal too. But I'm not. That deal would not be acceptable," he added.
"And what they want to do is immediately open the Hormuz Strait. You know why? Because they're dying. You know why they’re dying? Because they have no money coming in. Because they get their money from the Hormuz Strait," the president said.
-ABC News' Emily Chang
Iranian President Masoud Pezeshkian told journalists Thursday there is a "major atmosphere of mistrust" between the U.S. and Iran, but that "we are ready for a trust-building relationship."
After Iran's president addressed the U.N. General Assembly in New York, he provided remarks to a small group of journalists, including ABC News' Martha Raddatz.
"We struggle to understand why America attacked Iran," he said. "We don't want a nuclear weapon," adding, "President Trump says the U.S. obliterated the program, so why do they need to inspect?" But he said, "We are willing to have inspectors."
Separately, Iran's foreign minister told journalists that Iran has presented a plan through mediators that would reopen the Strait of Hormuz in seven days if the U.S. agrees to certain conditions.
The minister did not spell out the steps the U.S. would have to take but said they were similar to a memorandum of understanding the U.S. signed in Islamabad but has since backed away from.
With gas prices in the U.S. soaring to nearly $4.50 per gallon and diesel prices at an all-time high tonight, the Iranian president told journalists, "It is impossible for the U.S. to make Iran surrender."
He acknowledged the U.S. "has the power to destroy anything and everything," but insisted, "We will never surrender."
The Iranian president also claimed most of the U.S. bases in the region are no longer usable.
Regarding Iran's supreme leader Mojtaba Khamenei, who was severely wounded and reportedly disfigured during the first day of the war, the Iranian president said he met with the supreme leader twice and "saw no major challenges with this health."
The supreme leader has not been seen in public since that initial strike.
