President Donald Trump announced that he was extending a ceasefire with Iran just hours after he threatened to bomb the country if negotiations stalled.

"Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump said in a Tuesday Truth Social post.

"I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other," he added.

While speaking to CNBC earlier in the day, Trump promised that a "great" deal would emerge from negotiations with Iran, but vowed to resume attacks if it did not.

"I expect to be bombing because I think that's a better attitude to go in with. But we're ready to go. I mean, the military is raring to go," the president explained.

Iran has insisted that it would "not negotiate under threat and force."