Trump made a surprise visit to the White House briefing room after meeting earlier with Qatar's prime minister, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani.
"Iran militarily is effectively over," the president said. "We're just keeping it the status quo."
He added Iran has been "decapitated" but said he is still looking to make sure there's a long-term solution to ensure the Islamic Republic's nuclear program is defanged.
It was some of Trump's most definitive comments about moving away from his threat to resume strikes on Iran after the US midterm elections had passed.
In a posting on social media shortly before speaking to reporters, Trump once again asserted that Middle East allies - Qatar, Saudi Arabia, UAE, Bahrain, Kuwait and others - "would prefer the status quo."
Minutes later, in his exchange with reporters, he sought to assure war-weary Americans there was "positive momentum" and that he saw a "good chance" the war "could get ended."
"They're talking to us, and they're talking very politely, And we'll see what happens," Trump said.
He added: "The military action doesn't seem to be a very necessary thing, but we're locked and loaded, ready to go for any reason that changes."
Trump, however, gave no hint of a drawdown of the thousands of US troops who have been shifted to the waters off of Iran and maintain a naval blockade to stem the flow of Iranian oil into the global market.
"We're keeping it going. We have the greatest military blockade ever," he said.
Qatari officials last week presented proposals on Iran's nuclear program, according to two Middle East government officials familiar with the matter who spoke on the condition of anonymity.
The White House declined to comment, though Trump last week alluded to ongoing indirect talks with Tehran.
Tehran continues to insist on several concessions from the US, which Trump has declined in the past.
Among the core demands Iran says must be met before engaging in nuclear talks: ending the US blockade on Iran's ports, lifting sanctions, unfreezing its assets, issuing compensation for war damage and ending hostilities throughout the region, including Israeli operations in Lebanon.Â
Trump told CNN in a phone interview on Sunday that as long as the US sees progress in negotiations with the Iranians and they sign a "strong agreement," it's "highly unlikely it's going to be necessary" to resume strikes.
Trump said, however, the US had identified infrastructure targets, including 38 bridges, that it would strike if military action resumes.
The US military has carried out limited strikes on Iran, including against its air defences, at least twice over the past week. It also fired on and disabled a commercial ship on Saturday that the US says was trying to breach its naval blockade.
21°C