US and Iran Agree to Ceasefire Hours Before Trump Deadline

WATCH: President Trump has announced a two-week, two-sided cease-fire with Iran, suspending earlier threats to strike Iranian civilian infrastructure.Source: Bloomberg

The US and Iran agreed to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz, a last-ditch deal that averted President Donald Trump’s threatened escalation of the war.

Trump announced the agreement on social media Tuesday, hours after mediator Pakistan implored him to back off his deadline to unleash massive devastation on Iran if it didn’t meet his demands. The deal buys time for the two sides to reach a longer agreement to end the six-week conflict, which has killed thousands of people and sparked a global energy crisis.