Overview
- Trump will chair the new body and has named a seven-member executive team that includes Marco Rubio, Jared Kushner, Steve Witkoff, Tony Blair, Marc Rowan, Ajay Banga and Robert Gabriel.
- Sources say more than 10 countries have agreed to join, with the UAE, Morocco, Hungary, Argentina, Belarus and Canada publicly accepting; Canada says it will not pay for a permanent seat.
- France has declined to participate, prompting Trump to threaten 200% tariffs on French wine and champagne, as other European allies voice reservations about the plan.
- Roughly 60 invitations have gone out, including to Russia’s Vladimir Putin and China’s Xi Jinping, with a signing and announcement targeted for Thursday in Davos.
- A draft charter grants the chairman veto power and offers permanent membership for a $1 billion cash contribution in the first year, while practical issues on Gaza disarmament, security forces and funding remain unresolved.