The latest peace proposal from Iran was rejected by the United States Monday.

Asenior official called the updated offer “insufficient for a deal,” Axiosreported.

The news at the same time there has been speculation President Donald Trump will resume military operations against Iran this week if the Strait of Hormuz, a key global oil transit hub, is not swiftly reopened.

“U.S. officials say President Trump wants a deal to end the war, but is considering resuming it due to Iran’s rejection of many of his demands and refusal to make meaningful concessions on its nuclear program,” Axios reported, citing U.S. officials.

Trump said Sunday “the clock is ticking” for Iran to make a deal and threatened “there won’t be anything left of them” if they don’t do so “FAST.”

Axios also reported Sunday that Trump will meet with his top national security officials in the White House Situation Room to discuss possibly resuming the war.

“The senior U.S. official said that if Iran doesn’t shift its position, the U.S. will have to continue the negotiations ‘through bombs,’” per Axios.

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The updated Iranian proposal was transmitted via Pakistani intermediaries Sunday night. According to Axios’s sources, the propose included “only token improvements on the last version.”

“We are really not making a lot of progress. We are at a very serious place today. The pressure is on them to be responsive in the right way,” the senior U.S. official told Axios of the negotiations.

“It’s time for the Iranians to throw bit of candy out. We need some real, sturdy, and granular conversation . If that’s not gonna happen, we will have a conversation through bombs, which will be a shame,” Axios quoted the source.