President Trump announced details of his administration's long-awaited plan for peace between Israelis and Palestinians.

President Trump said on Tuesday that his Middle East peace plan charts a course to two states for Israelis and Palestinians, acknowledging it would be a tough sell to Palestinians and others.

He proposed a two-state solution and said no Israelis or Palestinians would be uprooted from their homes.

Standing alongside Israeli PM Benjamin Netanyahu at the White House, President Trump said his plan "could be the last opportunity" for Palestinians.

Details about the initiative's economic proposals, including $50 billion in infrastructure spending and investment over 10 years for the Palestinian territories and neighbors Jordan, Egypt, and Lebanon, have been previously announced. 

He said the plan would grant Palestinian Authority President Mahmoud Abbas four years to fulfill American conditions necessary for an independent Palestinian state to be recognized, including renouncing terrorism, acknowledging Jerusalem as the capital of Israel and passing laws to root out corruption and halt the activities of militant groups Palestinian Islamic Jihad and Hamas.

President Trump said the deal, outlined in an 80-page document, was a "win-win" for Israelis and Palestinians. The plan more than doubles the territory currently under Palestinian control. It also recognizes Israeli sovereignty over major settlement blocs in the West Bank, a scenario that many Palestinians will find difficult to accept. 

The proposals are:

• The US will recognize Israeli sovereignty over territory that President Trump's plan envisages being part of Israel. The plan includes a conceptual map that Mr. Trump says illustrates the territorial compromises that Israel is willing to make
• The map will "more than double the Palestinian territory and provide a Palestinian capital in eastern Jerusalem", where President Trump says the US would open an embassy
• Jerusalem "will remain Israel's undivided capital"
• An opportunity for Palestinians to "achieve an independent state of their very own" - however, he gave few details
• "No Palestinians or Israelis will be uprooted from their homes" - suggesting that existing Jewish settlements in the Israeli-occupied West Bank will remain
• Israel will work with the king of Jordan to ensure that the status quo governing the key holy site in Jerusalem known to Jews as the Temple Mount and al-Haram al-Sharif to Muslims is preserved
• Territory allocated to Palestinians in President Trump's map "will remain open and undeveloped for a period of four years". During that time, Palestinians can study the deal, negotiate with Israel, and "achieve the criteria for statehood".