Last Updated Jan 28th, 2020 at 2:00 pm

President Trump announced his much-anticipated Middle East peace plan Tuesday, which he described as "a win-win opportunity for both sides, a realistic two-state solution that resolves the risk of Palestinian statehood to Israel's security."

The plan calls for the creation of a Palestinian state with its capital in east Jerusalem, contingent upon Palestinians taking steps to become self-governing and root out terror. It also calls for the recognition of Israeli settlements in the West Bank in exchange for a four-year freeze on new settlement activity.

Flanked in his speech by Israeli Prime Minister Benjamin Netanyahu, Trump disclosed that the Israeli leader had co-signed the plan and is ready to act. This would be the first time Israel has agreed to a Palestinian state with defined borders.

"Mr. prime minister, thank you for having the courage to take this bold step forward," Trump said.

After the speech, Trump tweeted the following map and captioned it, in Arabic, "This is what the future state of Palestine might look like with a capital in parts of East Jerusalem."

U.S. officials said they expect initial Palestinian skepticism, but hope that over time they will agree to come to the table. The plan would more than double the amount of territory the Palestinians control.