US President Donald Trump said he had agreed to a two-week ceasefire with Iran on Tuesday on the condition that Iran agrees to reopen the critical Strait of Hormuz. 

Trump announced the ceasefire just an hour and a half before his deadline for Iran to reopen the Strait of Hormuz or face escalated military attacks on civilian infrastructure.

Israel has also agreed to the ceasefire, a White House official was quoted as saying by CNN. Trump said in his social media post it's a double sided ceasefire.

Trump’s announcement comes after Pakistani Prime Minister Shehbaz Sharif proposed the ceasefire to allow for diplomatic negotiations between the US and Iran, he said.

Trump said in his social media post: "Based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan, and wherein they requested that I hold off the destructive force being sent tonight to Iran, and subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for a period of two weeks.

"This will be a double sided CEASEFIRE! The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East.

"We received a 10 point proposal from Iran, and believe it is a workable basis on which to negotiate. Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalized and consummated.

"On behalf of the United States of America, as President, and also representing the Countries of the Middle East, it is an Honor to have this Longterm problem close to resolution."

Earlier Pakistan's Prime Minister wrote on X: "Diplomatic efforts for peaceful settlement of the ongoing war in the Middle East are progressing steadily, strongly and powerfully with the potential to lead to substantive results in near future."

"To allow diplomacy to run its course, I earnestly request President Trump to extend the deadline for two weeks. Pakistan, in all sincerity, requests the Iranian brothers to open Strait of Hormuz for a corresponding period of two weeks as a goodwill gesture."

"We also urge all warring parties to observe a ceasefire everywhere for two weeks to allow diplomacy to achieve conclusive termination of war, in the interest of long-term peace and stability in the region."

A senior Iranian official told Reuters that Tehran was "positively reviewing" the Pakistani proposal.

Iranian state media, reporting on Trump's social media post, said: "Trump announces two-week ceasefire accepting Iran's conditions to end war". It also referred  to "Trump's humiliating retreat from anti-Iran rhetoric".