DEAL REACHED: President Donald Trump tonight said the “first phase” of the peace plan to end the conflict in Gaza had been signed. It includes a plan to pause fighting and release hostages and prisoners. The initial agreement was confirmed by Israeli officials and Hamas, as well as mediator Qatar.

Israel and Hamas have agreed to the “first phase” of his plan to pause fighting and release at least some hostages and prisoners, U.S. President Donald Trump said Wednesday.

President Donald Trump announced Wednesday that both Israel and Hamas had both "signed off" on the first phase of a peace plan in Gaza following negotiations in the Egyptian Red Sea city of Sharm el-Sheikh. The talks came after Hamas responded positively to Trump's proposal for peace in Gaza, though the group had said more negotiations were needed.

Egyptian President Abdel Fatah El Sisi also said Wednesday that the messages he had received out of the talks in Sharm el-Sheikh were "very encouraging."

The US president says the first phase of the deal secures the exchange of Israeli hostages and Palestinian prisoners and the start of an Israeli withdrawal.

Israel assesses that Hamas may not be able to find and return all the remaining dead hostages in Gaza, according to three Israeli sources, a fact that may complicate efforts to reach a deal to end the war.