The settlement is now known as Bruchim and was established more than 30 years ago.
Netanyahu spoke of the name as a symbol of gratitude for the White House decision to recognize Jerusalem as Israel's capital and Golan as a part of Israel, while Friedman spoke of the settlement as a "beautiful birthday present" to Trump, who turned 73 on Friday. Trump tweeted later on Sunday.
Israel is hoping the rebranded "Ramat Trump", Hebrew for "Trump Heights", will encourage a wave of residents to vastly expand it.
David Friedman, the USA ambassador to Israel, was also at the event.
"It's absolutely attractive", said Friedman.
Israel seized the Golan from Syria in 1967 and annexed the territory in 1981.
Les valeurs à suivre à Wall Street
La Bourse US a clôturé en baisse ce vendredi après un avertissement de Broadcom qui a pénalisé le secteur des semi-conducteurs. Deux pétroliers ont été vraisemblablement attaqués, ravivant la crainte de difficultés d'approvisionnement de pétrole.
"Many years have passed since a new settlement was established in the Golan Heights". "It is simply obvious, it is indisputable and beyond any reasonable debate".
After a cabinet meeting at the site on Sunday, Netanyahu and Friedman unveiled a sign trimmed in gold with the name "Trump Heights", adorned with USA and Israeli flags.
"All Israelis were deeply moved when President Trump made his historic decision to recognise Israel's sovereignty over the Golan Heights", said Netanyahu in a video.
Benjamin Netanyahu tagged the case as "surrealist".
Netanyahu expressed his great appreciation of the court, noting that the judge said that the events the chefs were invited to cook for were official state events. Following the decision, Netanyahu suggested that Israel would name a settlement in the region after the USA president.
Israel is set to hold another round of elections in September after Netanyahu failed to build a majority coalition in the Israeli parliament.
Met Office issue weather warning as more heavy rain forecast for Wrexham
Wet and windy conditions are set to last well into the week, with cooler-than-average temperatures for this time of year. A cloudy day with outbreaks of rain, heavy and perhaps thundery at first, but tending to slowly ease during the day.
Zvi Hauser, an opposition lawmaker who formerly served as Netanyahu's Cabinet secretary, called Sunday's ceremony a cheap PR stunt.
But a June 12 memorandum from Netanyahu's office showed the plan was far from implementation: it lacks earmarked funds as well as final approval for its precise location and name.
Developing Trump Heights won't be easy. The area is home to small agriculture and tourism sectors but otherwise has little industry.
The wife of Israeli Prime Minister Benjamin Netanyahu asked a Jerusalem court Sunday to approve a plea bargain convicting her of fraudulently using state funds for meals, an AFP reporter said.
Sara Netanyahu has been ordered to pay a fine of roughly $15,000 by a magistrate court in Jerusalem.
Sara Netanyahu previously refused to agree to pay the residence for the value of the meals and to admit to the accusations, while the Israeli PM stated that the claims against his wife were "absurd and unfounded".
Here’s The Official Candidate Lineup For The First Democratic Debate
And Sarah Sanders, the longest standing press secretary of the Trump White House, is leaving her post at the end of the month. Bernie Sanders (I-VT) speaks to supporters at Brooklyn College on March 02, 2019 in the Brooklyn borough of New York City.