US President Donald Trump on Tuesday gave Hamas an ultimatum of "three or four days" to respond to his plan to end the war in Gaza, as the militant group reviewed the proposal backed by Israel.

The plan calls for a ceasefire, the release of hostages by Hamas within 72 hours, a disarmament of Hamas and the gradual Israeli withdrawal from Gaza, followed by a post-war transitional authority headed by Trump himself.

World powers, including Arab and Muslim nations, welcomed the proposal, but Hamas had yet to issue its response.

"We're going to do about three or four days," Trump told reporters when asked about any timeframe.

He later warned the militants would face severe consequences if they refused.

"We have one signature that we need, and that signature will pay in hell if they don't sign," Trump told US generals and admirals gathered at a military base in Quantico, Virginia.

Trump announced his proposal at the White House on Monday after meeting with Israeli Prime Minister Benjamin Netanyahu.

On Tuesday, a Palestinian source said on condition of anonymity that Hamas had begun consultations on the plan "within its political and military leaderships, both inside Palestine and abroad".

"The discussions could take several days due to the complexities," the source said.

"It is still too early to speak........

© International Business Times