The decision to recognize Jerusalem as Israel's capital was "a peak moment" of the presidency, President Trump told Israel Hayom during a sit-down interview at the White House Thursday.

Why it matters: Palestinian President Mahmoud Abbas announced he would cut ties with the U.S. when Trump made his Jerusalem announcement on Dec. 6. As Axios' Barak Ravid scooped, the White House is now considering presenting a Middle East peace plan even if Abbas refuses to come to the negotiating table.

What he said: Trump called the decision "a very important pledge" that he fulfilled despite "tremendous lobbying." When asked if Israel would have to provide something in return, the president said "both sides will have to make hard compromises to reach a peace agreement."

Go deeper: What to expect next after Trump's Jerusalem move