The decision was made on the advice of leaders of allied countries around the Persian Gulf, Trump writes in a post on Truth Social.
Trump adds that "serious negotiations" are underway with Iran.
However, Washington remains ready to carry out a "large-scale attack" if an "acceptable agreement" is not reached with Iran, Trump continues.
For several weeks, Trump has issued various threats against Iran if the country does not reach an agreement after the war that the U.S. and Israel started on February 28. He has issued several ultimatums for such an agreement.
Earlier on Monday, Iran stated that it had responded to the U.S.'s latest proposal in the peace negotiations.
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