"Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE!" Trump said on Truth Social.
"Final negotiations on 'Peace' are proceeding, subject to ignorance or stupidity getting in its way," he added.
A few minutes earlier, Trump warned Israel and Iran to "immediately stop 'shooting.'"
Iran fired a barrage of missiles at Israel overnight Sunday into Monday and Israel responded by targeting military sites in the Islamic republic.
Tehran's strikes followed attacks by Israel against targets of the Iran-backed Lebanese Shia group Hezbollah in the southern suburbs of Beirut.
Trump is looking to end the conflict, which is unpopular in the United States, as the November midterm congressional elections approach.
President Trump announces ceasefire deal between Israel and Ira...