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The US president wants Tehran to reopen the Strait of Hormuz, a critical global energy route, before his Tuesday deadline.
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Trump's deadline for an "acceptable" deal - one that includes the free flow of energy through the Gulf - is set for 20:00, Washington DC time on Tuesday (00:00 GMT Wednesday).
Speaking at the White House, Trump said that he believed "reasonable" leaders in Iran were negotiating in "good faith", but the outcome remained uncertain.
Iran has rejected proposals for a temporary ceasefire, instead calling for a permanent end to the conflict and the lifting of sanctions.
Trump's news conference held alongside General Dan Caine, the chairman of the Joint Chiefs of Staff and defence secretary Pete Hegseth comes days after US forces successfully recovered two crew members of an F-15 fighter jet that was downed in southern Iran.
While much of Trump's remarks highlighted what he described as the "heroic" rescue of the crew, he once again repeated his warning that the US could launch attacks on Iran's energy and transportation infrastructure if the Strait of Hormuz was not reopened by Tuesday's deadline.
"The entire country can be taken out in one night – and that night might be tomorrow night," he said on Monday.
Once the deadline passes, Trump added, Iran would be sent back to the "Stone Ages".
"They're going to have no bridges," he said. "They're going to have no power plants."
Despite Iran's earlier rejection of US demands, Trump continued to express optimism that Iran was negotiating in good faith after successive layers of Iranian leadership were killed in US and Israeli strikes.
Meaningful progress in any negotiation is unlikely to take place without a ceasefire first, according to a regional official familiar with the discussions.
The official - who asked t
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