The transfer will be carried out by upgrading the current US Consulate General in Jerusalem to embassy status.
The Israeli army said it would nearly double the number of troops surrounding the Gaza Strip and in the occupied West Bank to tackle Palestinian protests against Monday's controversial opening of a USA embassy in Jerusalem.
"Under any peace agreement [with the Palestinians] Jerusalem will remain the capital of Israel", Netanyahu said.
Abbas, who for years had banked on the U.S. to persuade Israel to cede land for a Palestinian state, felt betrayed and halted contacts with the Trump administration.
United States President Donald Trump will address around 800 American and Israeli dignitaries at the ceremonial opening of the American embassy in Jerusalem by video tomorrow, the USA ambassador said. Since the end of March, weekly protests haven taken place there every Friday. The Award was presented by Dr. Evans to President Trump this past December at a ceremony held in the Oval Office, after declaring he will move the embassy to Jerusalem.
Jerusalem's status is perhaps the thorniest issue in the Israeli-Palestinian conflict.
US Deputy Secretary of State John Sullivan will lead the delegation that will include Mr Trump's daughter Ivanka, her husband and senior White House aide Jared Kushner, and Treasury Secretary Steven Mnuchin.
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Since March 30, the Palestinians have been organizing protests, demonstrations and rallies calling it "the Great March of Return".
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Israeli army warplanes on Saturday struck targets in the blockaded Gaza Strip, the army announced.
The plan was brought forward to coincide with the state of Israel's 70th anniversary.
There were already tensions in the weeks before the embassy move.
The announcement does not concern Israeli-annexed east Jerusalem, where responding to protests is the responsibility of the police. Israel seized the eastern part of Jerusalem during the 1967 Six-Day War and claimed the whole city as its capital, but Palestinians believe that the capital of an independent state of theirs belongs in East Jerusalem.
The protest came just three days ahead of what the leader of Gaza's ruling Hamas group has said will be a march by tens of thousands who could burst through the border fence into Israel.
Friedman in the past has been a supporter of Israeli settlements in the occupied West Bank.
"At this time 70 years ago, the new state of Israel was forcibly expelling hundreds of thousands of Palestinians from their homes in what is now Israel".
But Netanyahu insisted the embassy move is "the right thing to do" and ordered other countries to follow suit.
Abbas, a staunch opponent of violence, hasn't offered an alternative to statehood through negotiations with Israel or found a world power willing to challenge Washington.