Treasury Secretary Scott Bessent has told CNBC a deal to reopen the Strait of Hormuz is in sight, after President Donald Trump warned that the latest round of negotiations with Iran is the "last chance" to bring an end to the five-month conflict. "We are in talks with the Iranians," Bessent told CNBC's "Squawk Box" on Tuesday. "There is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized position in this conflict." The Treasury Secretary said the deal would allow freedom of movement in the strait when asked whether Iran would be allowed to charge a toll. "This is a last chance for them to sign a good document," Trump said.