President Trump says the U.S. has "total control" around the Strait of Hormuz as he turns up the pressure on Iran to make a deal.
Trump paints a dire picture of Iran's position, claiming the country has "no money," is struggling to pay its soldiers and police, and is facing 350% inflation.
"They would love to make a deal, but they're not ready to make the right deal in my opinion," Trump says, as he signals Washington is prepared to wait and see what Tehran does next.
"No taxpayer money for the ballroom at all."
President Trump says the new White House ballroom will cost close to $400 million, but insists taxpayers won't be footing the bill.
Trump says the project is being funded entirely by private donations from "patriots and patriotic companies."