US and Iran reach ceasefire extension deal pending Trump's final approval

U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding extending the current ceasefire and launching negotiations on Iran's nuclear program, but the deal still needs President Donald Trump's final approval, U.S. sources confirmed to Fox News.

Axios first reported about the memorandum of understanding being reached earlier Thursday.

This is a developing story. Please check back for updates.