WASHINGTON, July 7: Israeli Prime Minister Benjamin Netanyahu and President Donald Trump are set to meet for the third time this year, discussing issues such as Israel’s 21-month war against Hamas in Gaza and the extent of Trump’s push for an end to the conflict. Trump has expressed his desire to see the Gaza conflict end soon after the 12-day war between Israel and Iran. The meeting could give new urgency to a US ceasefire proposal being discussed by Israel and Hamas, but whether it leads to a deal that ends the war remains unclear.
China’s Foreign Ministry spokesperson stated that the BRICS mechanism is an important platform for cooperation among emerging markets and developing countries, advocating openness, inclusiveness, and win-win cooperation. This comes after Trump announced that any country aligning with “the Anti-American policies of BRICS” would be levied an added 10% tariff. The second BRICS summit continues in Rio de Janeiro.
Tesla shares tumbled 6.5% overnight as the feud between CEO Elon Musk and Trump reignited over the weekend. Musk, once a top donor and ally of Trump, announced that he was forming a third political party in protest over the Republican spending bill passed late last week. Trump followed by criticizing Musk in a social media post, suggesting that Musk’s disappointment in the bill was over the termination of an “electric vehicle mandate,” which Trump says Musk knew was coming. Investors fear that Musk’s companies, which receive significant subsidies from the federal government, could suffer further if his feud with Trump continues to fester.
Secretary of State Marco Rubio will make his first official trip to Asia this week to attend a regional security conference in Malaysia. The Trump administration has vexed several allies with demands for increased defense spending and threats to impose massive tariffs on their exports to the US. Treasury Secretary Scott Bessent said that the Trump administration would announce “several” trade frameworks over the next 48 hours, focusing on the quality of the deals rather than the quantity. (AP)
