Investing.com -- U.S. Vice President JD Vance said Wednesday that an agreement to end the Middle East conflict is achievable if Iran engages in good faith negotiations with the United States.

Speaking during a visit to Budapest, Vance said President Trump has directed him and the negotiating team to work toward an agreement. "If the Iranians are willing in good faith to work with us, I think we can make an agreement," Vance said.

Vance reported positive developments, noting that Iran has agreed to open the Strait of Hormuz. He said the U.S. and its allies have agreed to stop attacking Iran, forming the basis of what he described as a "fragile truce."

The vice president said some people within Iran responded favorably to the truce, while others are misrepresenting what has been accomplished.

Vance said Trump is impatient to make progress on Iran and warned that if Iranians don't engage in good faith, they will discover that President Trump is not one to mess around.