While US warplanes and aircraft carriers headed toward Iran on his orders, Trump welcomed some two dozen allies from around the world to the gleaming Washington building of the former US Institute of Peace, which has been gutted and renamed after the 79-year-old Republican.

Trump, who has sharply curtailed foreign aid, said that the United States would contribute $10 billion to the initiative whose goals include rebuilding Gaza, which was reduced to rubble by two years of war between Hamas and Israel.

"Together we can achieve the dream of bringing lasting harmony to a region tortured by centuries of war, suffering," said the realtor-turned-president, who has previously spoken improbably of building tourist resorts in Gaza.

Trump did not explain exactly where the money would go and his "Board of Peace" has drawn wide criticism for its opaque nature.

Trump will wield veto power over the "Board of Peace" and can remain its head even after leaving office, while countries that want to stay on permanently rather than enjoy a two-year stint will need to pay $1 billion.

In a rambling speech in which he denounced domestic opponents, highlighted stock market gains and hailed his prowess in endorsing foreign leaders during elections, Trump said he wanted to pursue more peace deals.

"It's all about an easy word to say, but a hard word to produce -- peace," Trump said.

- 'Bad things happen' -

The meeting comes two days after Trump sent two envoys to speak with Iran's top diplomat as the United States pushes for major concessions from the cleric-run state on concerns starting with its nuclear program.

"We have to make a meaningful deal otherwise bad things happen," Trump said.

He warned that Washington "may have to take it a step further" without any agreement, adding: "You're going to be finding out over the next probably 10 days."

The "Board of Peace" came together after the Trump administration, teaming up with Qatar and Egypt, negotiated a ceasefire in October to halt two years of devastating war in Gaza.

The United States says that the plan has now entered its second phase with a focus on disarming Hamas -- the Palestinian militant group whose unprecedented October 7, 2023, attack on Israel triggered the massive offensive.

Gaza's health ministry, which operates under Hamas authorities, says at least 601 people have been killed by Israeli forces since the truce began.

The meeting will also look at how to launch the International Stabilization Force that will ensure security in Gaza.

A key player will be Indonesia, the largest Muslim-majority country, which has said it is ready to send up to 8,000 troops to Gaza if the force is confirmed.

Indonesian President Prabowo Subianto -- a former general once accused of human rights abuses whom Trump called a "tough cookie" -- will take part in the inaugural meeting in Gaza, after joining the launch event at the World Economic Forum in Davos, Switzerland, last month.

Israel was represented by its foreign minister, who was positioned at a group photo next to the prime minister of Qatar, which has faced intense criticism from Israel.

In one step towards a new Gaza, a technocratic committee was formed last month to handle day-to-day governance of Gaza headed by engineer and former official Ali Shaath.

- 'Ambition and narcissism' -

The inaugural meeting brought ideological allies of Trump including Hungarian Prime Minister Viktor Orban, who is facing a tough reelection battle, and Argentina's President Javier Millei.

Other leaders in attendance include some eager for US attention, such as Pakistani Prime Minister Shehbaz Sharif, who has courted Trump for support in his country's conflict with India.

Critics say that the "Board of Peace" remains vague, including how it would interact with existing institutions including the United Nations.

"It's a confused mix of ambition and narcissism, unleavened by any effort at intellectual coherence," said Bruce Jones, a senior fellow at the Brookings Institution.

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