U.S. President Joe Biden and President-elect Donald Trump both claimed credit on Wednesday for a Gaza ceasefire-for-hostages deal that was months in the making but was helped across the line by a Trump envoy.

In announcing the ceasefire, Biden noted the final deal largely mirrored the framework of a proposal he made back in May. He smiled when a reporter asked who the history books will credit for the ceasefire and asked, "Is that a joke?"

"This plan was developed and negotiated by my team and will be largely implemented by the incoming administration. That's why I told my team to keep the incoming administration fully informed," Biden said in a farewell address on Wednesday night from the Oval Office.

In a social media post, Trump was quick to claim a measure of credit for the breakthrough after months of stalled negotiations.

He had repeatedly warned there would be "hell to pay" if a deal was not made by the time he takes office on Monday.

"This EPIC ceasefire agreement could have only happened as a result of our Historic Victory in November, as it signalled to the entire World that my Administration would seek Peace and negotiate deals to ensure the safety of all Americans and our Allies," he said.

Trump had dispatched his Middle East envoy, Steve Witkoff, to join the negotiations in Doha, and Witkoff was there for the last 96 hours of talks leading up to the deal.

In a briefing with reporters, a senior Biden administration official credited Witkoff with helping deliver the deal, working alongside Biden's envoy, Brett McGurk, who has been in Doha since Jan. 5.

White House press secretary Karine Jean-Pierre told reporters that Biden had wanted the Trump team involved because Trump will be tasked with implementing the ceasefire deal.

"In these past few days, we have been speaking as one team,” Biden said.

Biden did not provide specifics outside the broad outlines of the deal that were already known, but suggested it could set the stage for an independent Palestinian state alongside Israel.

"For the Palestinian people, a credible, credible pathway to a state of their own. And for the region, a future of normalization, integration of Israel and all its Arab neighbors, including Saudi Arabia," he said.

The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered on Oct. 7, 2023, when Hamas attacked Israel, killing 1,200 and taking about 250 hostages, according to Israeli tallies.

Israel's subsequent military assault on Gaza has killed over 46,000 Palestinians, according to the local health ministry, while also leading to accusations of genocide and war crimes that Israel denies. The assault has displaced the entire population of Gaza and caused a hunger crisis.