The US and Iran agreed to a two-week ceasefire that’s expected to halt the American-Israeli military campaign in exchange for Tehran reopening the Strait of Hormuz.

President Donald Trump announced the agreement Tuesday on social media hours after Pakistan, a mediator in talks, implored the US leader to back off his deadline to unleash massive devastation on Iran if it did not meet his demands. The deal buys time for the two sides to reach a longer agreement to end the six-week-old war, which has killed thousands of people and sparked a global energy crisis.

Trump said he had agreed “to suspend the bombing and attack of Iran for a period of two weeks” as long as Iran agrees to “the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.”

For instant reaction and analysis, Bloomberg Radio host Doug Krizner speaks with:
- Bloomberg State Department and Foreign Policy Reporter Eric Martin
- Bloomberg This Weekend co-host Christina Ruffini
-  Bloomberg White House and Washington correspondent Jeff Mason
-Terry Haines, founder of Pangea Policy
- Daniel Byman, Director of the Warfare, Irregular Threats, and Terrorism Program at the Center

The US and Iran agreed to a two-week ceasefire that&rsquo;s expected to halt the American-Israeli military campaign in exchange for Tehran reopening the Strait of Hormuz. President&nbsp;Donald Trump&nbsp;announced the agreement Tuesday on social media hours after Pakistan, a mediator in talks, implored the US leader to back off his deadline to unleash massive devastation on Iran if it did not meet his demands. The deal buys time for the two sides to reach a longer agreement to end the six-week-old war, which has killed thousands of people and sparked a global energy crisis. Trump said he had agreed &ldquo;to suspend the bombing and attack of Iran for a period of two weeks&rdquo; as long as Iran agrees to &ldquo;the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.&rdquo; For instant reaction and analysis, Bloomberg Radio host Doug Krizner speaks with: - Bloomberg State Department and Foreign Policy Reporter Eric Martin - Bloomberg This Weekend co-host Christina Ruffini -&nbsp; Bloomberg White House and Washington correspondent Jeff Mason -Terry Haines, founder of Pangea Policy - Daniel Byman, Director of the Warfare, Irregular Threats, and Terrorism Program at the Center

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill. Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill. Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

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Balance of Power

Instant Reaction: US and Iran Agree to Ceasefire Hours Before Trump Deadline

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