US President-elect Donald Trump spoke to Newsmax on Monday evening and commented on the talks for a hostage release deal, amid reports that a deal is close.

"We're very close to getting it done - and they have to get it done. If they don't get it done, there's going to be a lot of trouble out there - a lot of trouble like they have never seen before," said Trump.

He added, “They will get it done. I understand there’s been a handshake and they’re getting it finished and maybe by the end of the week. But it has to take place.”

Earlier on Monday, US President Joe Biden said there has been progress in the talks between Israel and Hamas on a ceasefire and hostage release deal.

"I have learned in many years in public service to never, never, never, ever give up," he said. "I spoke to the Prime Minister of Israel yesterday. I spoke to the Emir of Qatar today. I look forward to speaking with President Sisi soon. We're pressing hard to close this."

"The Palestinian people deserve peace and the right to determine their own futures. Israel deserves peace and real security. And the hostages and their families deserve to be reunited. And so we're working urgently to close this deal," he said.

On Sunday, Vice President-elect JD Vance told Fox News that Trump’s recent warnings that “all hell will break loose” if the hostages are not freed by January 20 were a driving force behind the recent progress in the ongoing negotiations.

“We’re hopeful there’s going to be a deal that’s struck toward the very end of Biden’s administration — maybe the last day or two,” Vance said. “But regardless of when that deal is struck, it will be because people are terrified that there are going to be consequences for Hamas.”