AMNA NAWAZ: Welcome to the "News Hour."

Israel and Hamas have agreed to the first phase of a deal to end the two-year-long war in Gaza.

President Donald Trump made the announcement on TRUTH Social, saying -- quote -- "This is a great day for the Arab and Muslim world, Israel, all surrounding nations and the United States."

The deal would include the release of all remaining hostages in exchange for Israel's partial withdrawal from Gaza.

Nick Schifrin is here now with the latest on what we know.

So, Nick, what is the latest?

What do we know about this deal and what's been agreed to?

NICK SCHIFRIN: So, what the president said is that phase one has been agreed to.

So, this is Israel and Hamas agreeing through mediators.

And phase one, as you said, is supposed to be all the 50 or so hostages believed to be held in Gaza, 20 of whom are believed to be alive.

But a source familiar is just texting me right now, saying that Israel believes that it will certainly be all of the living hostages, so, again, about 20 living hostages in one go.

So that's the real push that President Trump made, get all the living out.

So that's by Sunday, according to the source familiar, and then perhaps after that the deceased.

And as, Amna, you and I have talked about, Hamas has said it may not be able to find all the bodies of the deceased hostages.

In exchange, Israel would not really withdraw, but just move back inside of Gaza.

The president produced a map last week that has a yellow line.

They're calling it the yellow line now.

You see it right there.

That's to where the IDF would move back, which is still well inside Gaza in the south toward Rafah.

That's six miles inside of Gaza.

And so that's the frame of phase one.

And then Israel would release 250 detainees in Israeli prisons that have life sentences, meaning committed terrorism, and 1,700 Gazans who were detained since October the 7th.

So that is phase one, the first five points of the deal.

The rest, that's phase two, that's a lot harder.

AMNA NAWAZ: That's yet to be seen.

So we saw President Trump make the announcement on TRUTH Social.

Are we seeing reaction from any of the other parties?

NICK SCHIFRIN: Prime Minister Benjamin Netanyahu released a very quick statement just a few minutes ago -- quote -- "With God's help, we will bring them all home."

That's it.

That's all he said.

So that does reveal some perhaps concern or at least waiting to see what happens.

The deadline for release is 72 hours, I said, per a source familiar.

Israel expects by Sunday.

So that is Netanyahu saying, OK, great, but let's just see it when we see it.

AMNA NAWAZ: We know these negotiations have been led by Steve Witkoff on the ground.

Jared Kushner, the president's son-in-law, has now been involved on the ground as well.

But for this deal to be reached at this moment in time, Nick, what does that tell you about the U.S.

involvement and the process that brought us here?

NICK SCHIFRIN: It is extraordinary.

The officials who I have talked to say you got to this point basically when Israel attacked Doha, when Israel attacked the mediators who were in the country that was mediating, right, the top Hamas officials who were supposed to be negotiating.

And that started a series of events that led the president with Steve Witkoff to draft a new 20-point plan.

It was actually 21 points, the original one, with Jared Kushner's input, with Tony Blair's input.

They got all of the Arab leaders and Muslim leaders to agree to that.

And then you saw a lot of pressure from President Trump on Prime Minister Benjamin Netanyahu to agree to this, even to apologize to the country's prime minister in the Oval Office for this framework.

And then Hamas.

Hamas, even yesterday, even this morning, I think, publicly said, you know what, no deal unless the IDF leaves Gaza, no deal until you guarantee that the war ends.

It turns out that that was just a public statement and that Hamas was willing to make phase one of the deal without phase two.

And as we have been talking about phase two, right, it's the demilitarization of Hamas.

It's the future governance of Hamas.

It's, how do you secure Hamas with international forces?

No country has actually signed up to that yet, so huge questions.

But Hamas was clearly willing to say, we are going to go for phase one, after President Trump pressured Israel, after a lot of Arab and Muslim leaders really put pressure on Hamas.

They were clearly willing to make that phase one deal, leaving phase two to the future.

AMNA NAWAZ: We will see what happens next, but a remarkable first step, hopefully with peace ahead.

Nick Schifrin breaking news with us tonight, thank you.

NICK SCHIFRIN: Thank you.