Trump, who himself chairs the council, is hosting the first meeting with the participating countries in Washington.
Ahead of the meeting, Hamas is urging the newly created council to increase pressure on Israel to end what it considers continuous violations of the current ceasefire in Gaza.
Israel's Foreign Minister is participating in the council meeting after first attending a meeting with the UN Security Council in New York on Wednesday.
The council was initially created, in part, to monitor the ceasefire and prepare for Gaza's future. At least 19 countries have signed the "peace council" charter.
