President Trump meets with Israeli Prime Minister Netanyahu

UPDATE (2:03 PM): President Donald Trump is negotiating a trade deal with Israel in the wake of last week's tariff announcement.

President Trump met with Israeli Prime Minister Benjamin Netanyahu at the White House Monday.

During an Oval Office photo-op, Prime Minister Netanyahu pledged to eliminate his nation's trade deficit with the U.S.

"We intend to do it very quickly. We think it's the right thing to do. And we're going to also eliminate trade barriers, a variety of trade barriers that have been put up unnecessarily, and I think Israel can serve as a model for many countries who ought to do the same," the prime minister explained.

Netanyahu also teased growing support for a Trump-backed plan for Gaza that would involve Palestinians leaving the strip.

"And what is wrong with giving people a choice. Now we've been talking, looking over lunch about some countries. Won't go into them by now that are saying, you know, if Gazans want to leave, we want to take them in. And I think this is, this is the right thing to do," Netanyahu said.

Trump said he was open to making new trade deals on a country by country basis, but made it clear there is no plan to put the tariffs on pause during those negotiations.

The president also announced his administration has started talks with Iran involving the "top levels" of their government.

"It's the only chance our country will have to reset the table, because no other president would be willing to do what I'm doing, or to even go through it now, I don't mind going through it because I see a beautiful picture at the end, but we are making tremendous progress with a lot of countries, and the countries that really took advantage of us are now saying, Please negotiate. You know why? Because they're getting beaten badly because of what's happening."

President Donald Trump

Just before the Oval Office meeting got underway, the White House canceled a joint press conference planned for later in the afternoon.

UPDATE (10:59 AM): According to NBC News, the Trump-Netanyahu press conference has been canceled.

WASHINGTON (NBC, KYMA/KECY) - President Donald Trump and Prime Minister Benjamin Netanyahu will hold a press conference at the White House Monday.

The president is set to meet with the Israeli Prime Minister Benjamin Netanyahu in what would be their second White House sit-down since President Trump's return to office.

The visit, which was confirmed by a White House official and Netanyahu's office over the weekend, comes as Israel deploys troops in a new security corridor across Gaza to continue pressuring the Hamas militant group.

Prime Minister Netanyahu's office also said in a statement on social media that he and Trump would discuss tariffs, efforts to return hostages, Israel-Turkey relations, the Iranian threat and his battle against the International Criminal Court.

His visit comes after Israel shattered the ceasefire with a surprise bombardment in Gaza last month.

Israel attempted to pressure Hamas to accept proposed new terms for the ceasefire, a move supported by the White House. Hundreds of palestinians have since been killed.

Netanyahu's defense minister has said Israel will seize large areas of the territory and add them to its so-called security zones.