Language in the "peace deal" will give the U.S. exclusive rights to develop a key transit route that will be named after Trump.

Azerbaijan and Armenia signed a U.S.-brokered peace agreement on Friday during a meeting with U.S. President Donald Trump that would boost bilateral economic ties after decades of conflict and move them toward a full normalization of relations.

Armenia and Azerbaijan have committed to a lasting peace after decades of conflict, Donald Trump said on Friday as he hosted a signing event at the White House.