The deal sees both sides commit to further talks to reach a final agreement over the next 60 days and includes a $300 billion plan for Iran's reconstruction.
The Strait of Hormuz is set to reopen after Iran and the U.S. sign a peace deal, but experts warn backlogs and security checks could delay normal shipping.
President Trump touted the preliminary peace deal with Iran, which now leads to 60 days of further talks. Critics said the deal gives away too much to the Iranian regime. NBC News' Gabe Gutierrez reports.
