President Donald Trump said Tuesday he's not open to extending the two-week ceasefire with Iran when it expires on Wednesday but he's confident the U.S. and Iran will come to an agreement soon. 

"We don't have much time," the president said on CNBC's "Squawk Box."

Trump also said the U.S. is "going to end up with a great deal" in the negotiations with Iran because they will "have no choice." 

He said that U.S. forces have neutralized Iran's navy, air force and "taken out" their leaders.