Donald Trump has announced a bold new Gaza peace plan, aiming to end years of conflict. Israel has approved the first phase, including a ceasefire, troop withdrawals, and humanitarian aid. Hamas will release hostages while Israel frees nearly 2,000 Palestinian prisoners. A U.S.-led multinational force will monitor the truce, and Gaza’s governance will transition to a technocratic committee under Trump and Tony Blair. An ambitious economic development plan is set to rebuild the region. But challenges loom: disarmament, phased withdrawals, and governance risks could derail the deal.