To civilized nations and sane politicians, it means a suspension of hostilities in a war. It's not a truce or any other sort of resolution to the war yet - merely an agreement to stop fighting for some period.

To Trump it's just another of the countless things he doesn't even realize he's never bothered to understand, and is only notable for his belief that claiming responsibility for one should get him a Peace Prize (except that the Nobel committee is nasty and mean and won't admit that he's the most beautifully awesome president ever in the history of ever even though everybody else knows it's true except for all those other mean, nasty people who won't admit it).

To Israel, it's an entirely meaningless word that sometimes threatens to interfere with their right as God's chosen people to rob, rape and murder anybody who tries to stop them from taking whatever land they want.