US President Donald Trump says he's holding a White House Situation Room meeting with his advisors as he looks to make a "final determination" on moving forward with a deal to extend the Iran ceasefire.

Trump confirmed the high-level White House talks on Friday, the day after The Associated Press and other news outlets reported that US and Iranian negotiators had come to terms on a tentative agreement.

The deal would extend the fragile ceasefire by 60 days as new talks are held on Iran's disputed nuclear programme.