US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu say they have agreed a new peace plan for Gaza and have warned Hamas to accept it. The plan proposes an immediate end to military operations, with Hamas releasing 20 living Israeli hostages and the remains of over two dozen hostages believed to be dead, in exchange for hundreds of detained Gazans. A Palestinian source familiar with the ceasefire negotiations told the BBC that Hamas officials have been given the White House's 20-point proposal. It demands that Hamas will have no role in governing Gaza, and leaves the door open for an eventual Palestinian state. Speaking at a news conference following talks at the White House, Trump called the plan a historic day for peace. However, he added that Netanyahu would have US backing to proceed with military action if Hamas fails to comply with the plan. Netanyahu asserted that Israel will finish the job should Hamas reject this proposal. British Prime Minister Sir Keir Starmer praised the initiative, urging all parties to collaborate in finalizing the agreement and to alleviate the ongoing misery in the region. The US plan outlines that existing military battle lines will remain fixed until certain conditions are met, with Hamas expected to disarm and dismantle tunnel and weapon production facilities. Additionally, aid can be expected to flow into the Gaza Strip once both sides agree to the proposal. Trump's administration is proposing a temporary governance model led by a technocratic Palestinian committee under supervision from a new international body, dubbed the Board of Peace. The proposal signifies a pivot away from Trump's earlier stance demanding Palestinian relocation. Instead, it emphasizes developing Gaza and encourages residents to remain in the territory. The backdrop to this plan involves a surge of violence following the Hamas-led attack on southern Israel on October 7, 2023, which left around 1,200 Israelis dead and others taken hostage. Since then, at least 66,055 individuals have died in conflicts within Gaza, highlighting the pressing need for resolution and stability in the region.