The agreement was announced in a joint statement from House Minority Leader Nancy Pelosi of California and Senate Minority Leader Chuck Schumer of New York.
It was following a dinner the pair had with Trump on Wednesday at the White House, New York Post reported.
The statement said they and Trump have "agreed to enshrine the protections of DACA into law quickly, and to work out a package of border security, excluding the wall, that's acceptable to both sides", Fox News said.
The agreement would specifically not include Trump's long-sought border wall, the Fox report said.
It would enshrine protection for the nearly 800,000 immigrants who benefited from the Deferred Action for Childhood Arrivals (DACA) program created by former President Barack Obama that Trump has announced he would be ending.
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