Trump says deal for ceasefire in Gaza is closer after Israel agrees on terms
Neither side has accepted the proposal announced Tuesday by Trump, who has admonished Hamas that if the militant group does not buy into the offer, its prospects will get worse. It's not clear what conditions Israel agreed to.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Trump Announces His First Signed Trade Deal—Then Immediately Drops It
President Donald Trump not only dropped the document but also confused the U.S. trading partner it was with while announcing an agreement had been finalized with the United Kingdom on Monday. The president revealed the United States had signed a previously announced deal with the U.K. while standing alongside British Prime Minister Keir Starmer at the G7 Summit in Canada. But when the president held up the folder with the document, pages tumbled to the ground, and Starmer ended up having to reach down to pick the papers up as Trump looked on. The 79-year-old president then proceeded to say that the agreement was with the European Union rather than the U.K. 'We just signed a document. This is—sorry about that,' Trump said as the papers hit the ground. 'Very important document,' Starmer chimed in with a smile as he picked the pages up. Both men laughed as the president joked it was a little windy there, though it did not appear to be wind that forced the pages from his grasp. 'We just signed it, and it's done, and so we have our trade agreement with the European Union, and it's a fair deal for both,' Trump then said, mixing up the U.K. with the EU. Neither leader revealed any details on what was in the deal, but Starmer called it a very important agreement on car tariffs and aerospace. Trump also claimed there were many other deals coming. The White House first announced that the U.S. and U.K. had reached a trade agreement early last month. The fact sheet for that deal included more than $700 million in ethanol exports and $250 million in other agricultural products. It also included a 10 percent tariff on the first 100,000 cars imported by the U.K. to the U.S. a year, and then a 25 percent tariff on any additional vehicles after that, as well as other details. Asked if anything had changed in the deal since they spoke about it by phone this spring, the president said, 'Not much.' The prime minister claimed the signed document would implement it. An executive order released by the White House on the deal on Monday also said the U.K. is committed to working to meet U.S. requirements regarding steel and aluminum product supply chain security. If it meets those requirements, 'the United States intends to promptly construct a quota at most-favored-nation rates for steel and aluminum articles.' In response to a question about steel tariffs on Monday, the president told reporters in Canada that the administration would let them have that information 'in a little while.'
Yahoo
25 minutes ago
- Yahoo
Trump Admin Insider Blows Lid Off Tariffs: ‘It's All Fake'
A source deeply embedded in the Trump administration's ongoing trade talks accused the Republican president of waging a tariff war for TV ratings. '[Donald] Trump knows the most interesting part of his presidency is the tariff conversation,' the White House insider, who chose to remain anonymous out of fear of reprisal, told Politico. 'It's all fake. There's no deadline. It's a self-imposed landmark in this theatrical show, and that's where we are.' In April, the MAGA figurehead paused his sweeping 'Liberation Day' tariffs to announce a three-month window for the world to negotiate new trade agreements with the United States—or face the full fury of his levies. In a subsequent interview with Time magazine, Trump claimed to have in principle already 'made all the deals' with more than 200 foreign partners, before later suggesting the real number would likely be closer to just a few dozen. Yet ahead of a self-imposed July 9 deadline, only the UK and China have inked relatively limited arrangements, with less than four days now left to go. As global markets brace for the Wednesday deadline, Trump has lately appeared full of tough talk in his public appearances, telling reporters Friday he'd already signed more than 12 'take it or leave it' letters to various countries reminding them of the levies they'll face if a deal is not soon reached, Reuters reported. On other occasions, Truymp appeared to revel in the uncertainty that his tariff regime has created. 'We can do whatever we want,' he said of the deadline during a White House press conference Tuesday, CNBC reported. 'We could extend it, we could make it shorter. I'd like to make it shorter.' That ambivalence apparently has some of the president's allies questioning just how far he's willing to go to net new trade opportunities for the country. 'You have wins. Take them,' as the White House insider put it to Politico. 'You only have to assume he doesn't want to take them because he likes the game too much.' In a statement to the Daily Beast, White House spokesman Kush Desai said 'the hollowing out of American Main Streets and industries by unfair foreign trade practices is not a theatrical show.' Desai added, 'President Trump pledged to use tariffs to level the playing field and restore American Greatness, and the Administration is committed to delivering on this pledge.'
Yahoo
28 minutes ago
- Yahoo
How the Trump tax bill could help China win at A.I.
Republicans in Congress produced a surprise winner this week when they axed hundreds of billions of dollars in federal clean-energy subsidies: China's artificial intelligence industry. China is pouring money into energy production to support its bid to dominate AI. America's tech industry, meanwhile, has been scrounging for more energy to run power-hungry AI data centers and strongly urged Congress not to wipe out solar and wind tax credits. Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. Solar panels and windmills are the fastest-growing sources of power in the United States, accounting for 80 percent of new energy being added to the grid. Yet Republican lawmakers and Trump administration officials remain intent on stifling clean energy progress in America, calling it Biden-era folly. Now the consequences of the massive cuts in the GOP tax and budget bill are coming into focus. Modeling of the package by energy economists shows they will substantially reduce the amount of electricity added to the U.S. power grid in the coming years, even as China races ahead. Wind and solar power 'is critical in the near term,' said Ben King, director of the U.S. energy program at the Rhodium Group, a research firm that has developed projections of the bill's impact. 'This creates a risk that energy projects just won't get built. At the same time, China is adding staggering electricity capacity.' The wind and solar electricity that China added to its power grid in just the first five months of this year is more than quadruple all the new electricity the U.S. added to its grid from all sources in 2024. China is simultaneously rapidly expanding its fleet of fossil fuel and nuclear plants. The Trump administration plans to accelerate new electricity generation from natural gas and nuclear power, but those efforts will take years, experts warn. There are no major new nuclear plants under construction, and they can take a decade or more to build. A global backlog of gas turbines means it can take five years just to build a single gas-powered plant. 'We need a huge amount of electricity after 20 years in which we did not have to deal with rising demand,' said Jason Bordoff, director of the Center on Global Energy Policy at Columbia University. 'Other countries are moving fast and being quite innovative. If we are not adding new power to the grid, companies are going to have to get it from other places.' According to the think tank Energy Innovation, the cuts in the Senate's version of the bill, which survived the House vote intact Thursday, would reduce the amount of new electricity the U.S. is able to bring online over the next decade by 344 gigawatts - enough to power nearly half the homes in the country. The loss of such generation would create an immense challenge for not just AI companies, but other industries needing to power factories as well as residential customers struggling with rising utility costs. The models are built on the premise that the loss of tax credits will boost development costs, which would require solar and wind operators to force up rates, rattling investors and risking the viability of projects. The 344 gigawatts in new power that Energy Innovation estimates would be lost is based on an assumption that solar and wind development drops 50 percent by 2035. The Trump administration waves away such warnings as overblown. The president says the tax credits that have propelled the growth of renewable energy in the U.S. are a 'scam,' arguing that wind and solar installations are a blight on the landscape. The administration contends intermittent energy produced by wind and solar, despite advances in battery technology, don't meet the needs of industry, especially the enormous, 24/7 demands of AI data centers. Energy Secretary Chris Wright calls renewable energy a 'parasite' on the power grid, undermining its stability and consuming transmission-line capacity that could be delivering more stable gas or nuclear energy. "Winning the AI race will require a significantly larger supply of around-the-clock, reliable, and uninterrupted power – unfortunately, this was not a priority of the last administration,' he said in a statement Wednesday night. Tech firms and their industry groups say eliminating the tax incentives for clean power hamstrings their ability to compete with Chinese AI development. They also say it could lead to soaring electricity prices in the United States. Both the Data Center Coalition and the Clean Energy Buyers Association, industry groups led by tech firms, warned lawmakers that the imperiled tax credits are needed for domestic AI growth. The key tax credits for large wind and solar installations will be phased out for projects not under construction by the end of June 2026 under the bill, which Trump hoped to sign Friday following expected House passage. The Biden-era incentives would have extended into the 2030s. There are thousands of eligible projects that have been announced but not yet started, amounting to a half-trillion dollars in planned investment, according to Energy Innovation. Now the question is how many of those projects can start construction before the deadline. Depending on how many projects can get shovels in the ground quickly, said Aaron Zubaty, chief executive of Eolian, a large clean energy developer, 'the U.S. has a fighting chance to keep major data center developments domestic and not lose them to the Middle East.' But, he said, China's advantage is nonetheless cemented by the budget bill. 'I've had multiple people I work with in Europe say to me that it is pretty clear who is going to be the dominant superpower in a decade, and that it will not be the U.S.,' he said. 'Dominance now depends on who has the most electricity. And by only building new gas, coal, and nuclear power plants you are not going to be able to grow U.S. supply quickly enough.' Industry officials say countries like Saudi Arabia, Qatar and the United Arab Emirates are aggressively courting American AI projects, offering plentiful, cheap power from renewables and gas. But locating major U.S. AI infrastructure in a region where alliances are constantly shifting and enemy combatants are an arm's length away 'is not good for America's national security interests or its economy,' Bordoff said. To keep up with the demands of AI and other industries, federal regulators say the United States needs to add to its grid by 2035 the amount of power used by all of California, Texas and New York combined. Many companies are feeling burned by the abrupt reversal of clean energy incentives, said Jason Grumet, chief executive of the American Clean Power Association, which represents several large companies heavily invested in both gas and renewables. As the Trump administration encourages investment in gas plants, companies are left to wonder if the federal support will still be there after a new president is in office. 'Every part of the energy economy is worried that they will make investments that in four years will be disfavored by the next administration,' Grumet said. 'We need durable energy policy.' Related Content Arthur Ashe's knack for reinvention led him to history at Wimbledon Newlywed detained by ICE freed after 141 days and two deportation attempts The Met opens a dazzling wing of non-European art
