Amid bipartisan criticism of Iran deal, Vance says to "have a little bit of faith" in Trump

[00:00:00]President Trump arrived home early this morning after meeting with world leaders at the G7 summit.

[00:00:04]>> final moments of his trip, he signed the memorandum of understanding with Iran to end the fighting, reopen the Strait of Hormuz, and begin negotiations on Iran's nuclear program. Natalie Brand is on Capitol Hill where some in both parties are questioning how much the president had to give up to get the deal.

[00:00:22]>> Congress members received a copy of the MOU today and the White House says they will be briefed soon, but already a number of lawmakers are expressing concern over what they know right now.

[00:00:33]The Trump administration argues that benefits to Iran will be based on good behavior.

[00:00:38]>> Vice President J.D. Vance, one of the top negotiators of the U.S.-Iran deal, defended it Thursday from the White House.

[00:00:44]>> Have a little bit of faith in the president of the United States. The idea that he is going to strike a deal that's been bad for the American people, it's preposterous.

[00:00:52]>> The vice president says the 60-day clock on phase two of negotiations began today with talks expected to continue in person in Switzerland this weekend.

[00:01:01]Iran's foreign minister said the next phase of negotiations will be more difficult as the two sides discuss the details of Iran's nuclear program and the U.S.'s desire to curb all enrichment.

[00:01:12]>> The idea that they get benefits before they change their behavior is fundamentally a talking point that is issued by people who want the conflict to continue indefinitely.

[00:01:22]>> Lawmakers across both parties have criticized what they know of the agreement so far, especially the economic relief for Iran, plans for the development of a $300 billion reconstruction fund, and the unfreezing of assets.

[00:01:36]>> Tens of billions of dollars immediately being released to Iran before they make a single nuclear concession.

[00:01:42]I think that's the mistake.

[00:01:44]>> President said in February that he was going to get unconditional surrender. I didn't know it was him getting to his own unconditional surrender.

[00:01:50]>> Other lawmakers say they support giving diplomacy a chance.

[00:01:55]>> Cautiously optimistic. I'm glad the markets are responding well, but the markets are ultimately going to be responding to the details that we all [music] need to see.

[00:02:03]>> The national average for a gallon of gas dropped below $4 as additional commercial vessels have now moved through the Strait of Hormuz. US CENTCOM also announced Thursday American forces lifted the naval blockade on Iranian ports.

[00:02:16]>> President Trump today on social media said the US is committed to peace and also touted stock market gains. In Iran, the Ayatollah says Iran's president has explicitly stated that if the US seeks quote excessive demands in negotiations, their country will not submit to them.

[00:02:35]In Washington, Natalie Brand, CBS News.