Watch: President Trump unveils Middle East peace plan with Israeli Prime Minister Netanyahu

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President Donald Trump is expected to unveil the administration's long-awaited Middle East peace plan on Tuesday with Israeli Prime Minister Benjamin Netanyahu by his side.

The plan proposes new borders for Israel, allowing the annexation of some Palestinian territories, according to various reports.

Netanyahu embraced the plan, thanking the president at a White House meeting on Monday.

"Thank you for everything you've done for Israel," he said.

Palestinian leadership however, has already rejected it.

Upon his return last week from the World Economic Forum in Davos, Switzerland, Trump touted the plan which could allow Israel to annex parts of the West Bank, occupied by almost 3 million Palestinians.

"It's a great plan. It's a plan that really would work," the president told reporters.

Tuesday's meeting comes as the president's impeachment trial continues in the Senate. Meanwhile, Netanyahu was formally indicted on corruption charges Tuesday, just hours before his meeting with Trump. He faces yet another election in March, with Benny Gantz leading the opposition, after both politicians were unable to to form a new government last year. Gantz also praised Trump's plan.

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