Trump says he thinks deal with Iran could happen 'over the next week'

President Donald Trump told ABC News he thinks he will have an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz "over the next week."

"Looking good, looking good," he told ABC News' chief Washington correspondent Jonathan Karl in a telephone conversation on Monday.

"There was a little glitch today, but I turned that one around very quickly, as you probably noticed earlier," Trump said.

The glitch, according to the president, was that the Iranians were upset about Israel's attacks on Lebanon.

"So, I spoke with Hezbollah, and I said no shooting, and I talked to Bibi [Israeli Prime Minister Benjamin Netanyahu], and said, no shooting, and they both stopped shooting each other," Trump said.

Trump said a peace agreement with Iran could be "even better than a military victory."

"It's not a simple thing," he said. "You're talking about a real large country -- them -- very large country making a deal. Tremendous hostility, really."

He continued, "So it's not an easy thing for them. It's actually not easy from our standpoint either. But we're getting what we need to get."

As for when the memorandum of understanding to reopen the strait will be completed and agreed to, Trump said, "I think you're talking about over the next week."

He said he has not agreed to it yet because "I still have to get a few more points."