Donald Trump agrees to 2-week Iran ceasefire, Strait of Hormuz to reopen for shipping

President Trump announced a two-week ceasefire with Iran tied to reopening the Strait of Hormuz.

Pakistan mediated the agreement and Iran said talks with the U.S. will begin in Islamabad on Friday.

Israel agreed to pause its bombing campaign during the two-week period, while U.S. and Israeli forces had increased strikes before the deadline.

The conflict has killed over 5,000 people and the strait handles about 20 percent of global oil shipments, affecting energy markets.