CBC News reported Wednesday that the United States, Israel, and Iran have agreed to a two-week ceasefire, just hours before a deadline set by U.S. President Donald Trump. Trump had threatened severe consequences for Iran if an agreement was not reached by 8 p.m. Eastern Time.

According to a post on Truth Social, Trump agreed to suspend bombing and attacks on Iran for two weeks, contingent on Iran’s agreement to immediately open the Strait of Hormuz. He stated the decision came after conversations with the Prime Minister and Field Marshal of Pakistan, who requested a pause in military action. Trump claimed the U.S. had already met its military objectives and was close to a definitive agreement for long-term peace.

Iranian Foreign Minister Abbas Araqchi stated via Twitter that Iran would cease defensive operations for two weeks if attacks against Iran halted, and safe passage through the Strait of Hormuz would be coordinated with Iranian armed forces. However, CBC News Senior Correspondent Sasha Petrasek, reporting from Jerusalem, noted that Iranian media reaction was less enthusiastic than that of the White House.

Petrasek reported that Iranian officials cautioned the ceasefire was temporary and that significant negotiations remained, including discussions regarding Iran’s nuclear program and missile capabilities. Negotiations are scheduled to begin Friday in Islamabad.

Israel has reportedly agreed to the ceasefire, but questions remain regarding the involvement of Hezbollah, a proxy group in Lebanon. According to Petrasek, Israel maintains a significant military presence in Lebanon and has not indicated plans for withdrawal.

CBC News Correspondent Katie Nicholson, reporting from Washington, noted that the ceasefire provides Trump with an “off-ramp” from potential conflict, particularly given domestic pressure and concerns about a prolonged war. The 10-point plan presented by Iran includes demands for reparations, control over the Strait of Hormuz, and the withdrawal of U.S. forces from the region.

Nicholson also reported that several Republicans, including Senator Lisa Murkowski of Alaska, criticized Trump’s rhetoric, with some even suggesting the possibility of invoking the 25th Amendment. Oil futures reportedly dropped following the announcement, and American markets appeared poised to rally.