President Donald Trump said he is postponing a planned U.S. military strike on Iran as “serious negotiations” are underway to try to reach a deal and end the conflict.

He said the strike, which he described as a major attack, was delayed after allies in the Gulf urged him to allow more time for diplomacy.

Trump suggested there is a “very good chance” of an agreement, though he warned earlier that Iran faced consequences if it did not act quickly.

He noted that past negotiations have come close to success but failed, while calling the current talks more promising, NPR has reported.

The president said U.S. forces remain ready if diplomacy fails, but he prefers avoiding military action if a deal can be reached.