According to Reuters, Mr. Trump also warned that if the ceasefire is not respected, additional sanctions will be imposed by his administration and partners.
In a social media post on May 8, Mr Trump stressed: "If the 30-day ceasefire is disrespected, new sanctions will be issued."
He expressed hope that both Russia and Ukraine will comply with the agreement and will be responsible for protecting the sacredness of the direct negotiations.
This ceasefire must eventually lead to a peaceful settlement. It can be done very quickly, and I will be ready to support at any time if needed, Trump said.
Mr Trump's proposal comes as Ukraine has approved a 30-day ceasefire initiative by the US side.
Ukrainian President Volodymyr Zelensky said in a phone call with Trump that Kiev was ready for a 30-day ceasefire with Russia, starting immediately. He stressed that Russia needs to demonstrate goodwill to end the conflict by agreeing to an unconditional ceasefire.
Meanwhile, the Russian side only proposed a 3-day ceasefire (from midnight on May 8 to May 11) to coincide with the 80th anniversary of the Nazis Victory Day.
However, the three-day ceasefire announced by Russia has been met with suspicion from Kiev. The Ukrainian Foreign Minister affirmed that Moscow had repeatedly violated the ceasefire just hours after it began. Russia has also accused Ukraine of continuing the fighting.
Mr. Trump has repeatedly expressed his desire to end the conflict in Ukraine, but has also warned that he will give up mediation efforts if the two sides do not make progress. His administration is also closely monitoring the situation and issuing a strong message that this ceasefire must be the first step towards peace.