Ukraine: Trump says Putin vows 'response' to airfield attack – DW – 06/04/2025
US President Donald Trump held a phone call with Russian President Vladimir Putin on Wednesday. According to a post on Trump's Truth Social, the two spoke about Ukraine and the recent attack on Russian airfields.
Meanwhile, Germany is making a new attempt on the international stage to strengthen and maintain Ukraine's air defense.
To this end, the multinational "Immediate Action on Air Defense" initiative is set to be relaunched, said Defense Minister Boris Pistorius in Brussels.
And Ukrainian President Volodymyr Zelenskyy said that Russia gave Ukraine "an ultimatum" during the latest round of talks in Istanbul.
However, the Ukrainian leader said that he is ready to hold direct talks with Putin and Trump "any day."
Here are the main developments in Russia's war in Ukraine from Wednesday, June 4, 2025:
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2 hours ago
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NATO likely to hike defense spending despite economic woes – DW – 06/05/2025
The military alliance looks set to satisfy US President Donald Trump's demands to commit to a massive increase in defense spending. Some creative counting proposed by NATO head Mark Rutte could soften the financial blow. A NATO defense ministers' meeting in Brussels on Thursday showed "broad support" for signing off a historic hike in defense spending at a crunch summit later this month. This was their response to the growing threat from Russia and a "more dangerous world" in general, the military alliance's Secretary General Mark Rutte told reporters. "I will propose an overall investment plan that would total 5% of gross domestic product in defense investment," Rutte announced, following months of pressure from US President Donald Trump for allies to more than double the present target. Current NATO guidelines encourage states to spend 2% of their economic output on their militaries. But not all of the alliance's members meet this target, raising questions of how they will reach an even higher spending goal. Splitting the bill In response, NATO chief Rutte has specified a division of the new spending goal that could allow Trump to claim a headline figure, while giving the other 31 nations room to maneuver their national budgets. Thus, of the 5%, 3.5% of national GDP could be allotted to "core defence spending", while the remaining 1.5% could be diverted to "defense- and security-related investment like infrastructure and industry," he said. Allied defense ministers gathered at the NATO headquarters in Brussels Image: Dursun Aydemir/Anadolu/picture alliance Trump has long criticized NATO allies for relying on the US' large military might as a strategy to defend the European continent. In 2023, more than two thirds of the 32 NATO countries' collective $1.3 trillion (€1.14 trillion) military spending came from Washington, according to data compiled by the Stockholm International Peace Research Institute (SIPRI). On Thursday, US Secretary of Defense Pete Hegseth drove home the message to the rest of the alliance once again. "Every shoulder has to be to the plough. Every country has to contribute at that level of 5% as a recognition of the nature of threat," he said. Leaders of the world's most powerful defense alliance are set to gather in three weeks in the Dutch city The Hague. Topping the agenda will be discussions on the ongoing war in Ukraine, and Russia's resulting massive rearmament drive. It seems likely that NATO members will officially commit to the 5% goal at these upcoming talks. Giving in to pressure Under US pressure, and with Europeans alarmed by Russia's full-scale invasion of Ukraine in 2022, NATO military spending has already burgeoned in recent years. Most countries now meet the 2% threshold, which was agreed upon 11 years ago. But around one third of the alliance still doesn't, including Portugal, Italy, Canada, Belgium, and Spain. Most NATO states had indicated willingness to spend more, but the 5% goal was considered far-fetched when Trump floated the idea earlier this year. Almost half a year on, the message seems to be resonating with many in the alliance. Earlier this week, 14 NATO states, including the Czech Republic, Hungary, Poland and the five Nordic states, published a joint statement in which they said they were "moving towards reaching at least 5% of GDP on defense and defense-related investments." Specter of war: Are Europeans really ready to rearm? To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Last month, German Foreign Minister Johann Wadepuhl also indicated Germany could get on board with the goal. Several NATO countries, including Poland, Estonia and Lithuania, have already committed to spending 5% or more in the future. All are former Soviet states, and two of them share a border with Russia. Since taking office in January, the "America-first" president has strained the NATO alliance with threats not to help defend alliance members that didn't meet spending targets should they be attacked. His designs on the semi-autonomous Danish territory Greenland have also alienated allies, as have his attempts at bilateral talks to find an end to Russia's war in Ukraine, which sidelined European partners and left Ukrainian President Volodymyr Zelenskyy largely marginalized. Questions remain There are still many open questions to be answered, one of them being the timeline. On Thursday, Estonian Defense Minister Hanno Pevkur spoke of committing to reaching 5% within five years. "We don't have time for ten years, we don't even have time for seven years, to be honest," he said. But the official focus at this week's meeting was on working out what exact capabilities NATO would need and may currently be missing to defend itself if a member of the alliance were attacked. After the talks, Rutte spoke of the need to upgrade air defense systems and long-range missiles, among other things. German Defense Minister Boris Pistorius said Germany might need as many as 50,000 – 60,000 more troops in its standing forces to meet defense needs in the coming years. Increased spending amid economic downturn While consensus appears to be forming, it is also clear that increasing military spending to 5% of GDP would be an enormous strain on public finances, particularly as Europe's two major economies, Germany and France, face tough times. Paris and Berlin are touting increased defense spending as a chance to fuel economic growth in Europe, but there is a risk of public backlash. In April in Rome, the opposition Five Star Movement led a protest against an EU drive to rearm the bloc — a move supported by the government of far-right Prime Minister Giorgia Meloni — reportedly drawing tens of thousands of people. According to Cullen Hendrix, an expert from the Peterson Institute for International Economics, a US think tank, a 5% spending target would essentially put NATO countries on "war footing." US secretary of State Pete Hegseth was in Brussels for the last NATO gathering before next month's summit Image: Bob Reijnders/Middle East Images/AFP/Getty Images "In 2023, just nine countries spent 5% of GDP or more on defense: Algeria, Armenia, Israel, Lebanon, Oman, Russia, Saudi Arabia, and South Sudan," Hendrix wrote in February. "Most are, or were, at war. Five of these are authoritarian petro-states, unencumbered by competitive elections or the need to tax their populaces to fund this military largesse." There is also a risk that increased spending will make Europe less safe, Hendrix warned. "Increasing military spending to this extent would likely catalyze an arms race with those near-peer competitors." On Thursday in Brussels, Rutte argued there was little choice but to spend significantly more on defense, pointing to recent comments by the German Chief of Defense Carsten Breuer, who posited that Russia would be ready to mount an attack on NATO states by 2029. "We live in a more dangerous world," Rutte said. "We are safe today, but if we don't do this, we are not safe in the foreseeable future." Edited by: Maren Sass
DW
2 hours ago
- DW
What Trump-Musk feud means for tech billionaire's businesses – DW – 06/06/2025
Tesla CEO Elon Musk spent some $300 million on Donald Trump's campaign, gaining unprecedented access to the Republican president's administration. What does their public row mean for Musk's empire? How did Musk and Trump get so close? Once a vocal critic of Donald Trump during his 2016 United States election campaign, Elon Musk, the billionaire CEO of Tesla and SpaceX, pivoted from his Democratic Party roots to embrace Trump's policies during the Republican's second term. Frustrated by Obama-era regulations stifling his ventures, Musk embraced Trump's agenda of tax cuts and deregulation. Their bond grew from mutual respect to a robust political alliance, which saw Musk last year back Trump's reelection campaign to the tune of nearly $300 billion (€263 billion). When Trump returned to the White House in January, the world's richest man took on an advisory role in the administration, leading the controversial Department of Government Efficiency (DOGE). Tasked with slashing public spending, Musk's role stirred controversy, impacting Tesla's stock price and auto sales. After months of pressure from investors, Musk agreed last month to scale back his work in Trump's government. Trump and Musk on the outs over Big Beautiful Bill To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video What sparked the public feud between Trump and Musk? On Thursday, wearing a T-shirt emblazoned with the "The Dogefather," Musk was given an initially cordial farewell by the president in the Oval Office. But Trump could not contain his frustration at Musk's earlier criticism of his administration's sweeping tax and spending bill, which the Tesla founder called fiscally reckless and a "disgusting abomination." After Musk then accused the US president of alleged ties to child sex offender Jeffrey Epstein, the news conference ended with Trump threatening to revoke Musk's government contracts, which could cost his business empire billions of dollars. Over the next few hours, the row spilled over to social media, where both men repeated their White House remarks, prompting the SpaceX owner to announce an immediate decommissioning of its Dragon spacecraft, before appearing to back down. How did markets react to the Trump-Musk fallout? Tesla stock lost about $150 billion in market value on Thursday — the largest single-day decline in its history. The stock closed down over 14%. However, news outlet Politico reported Friday that the two men were scheduled to speak later in the day in the hope of defusing the situation, which caused a sharp reversal in the stock's fortunes. Tesla stock was up 5% in pre-market trade. However, a White House official said later Friday that Trump had no plans for any call, adding that he may get rid of his Tesla bought in March in a show of support against Musk in the face of anti-Tesla protests. Tesla shares have been on a wild rollercoaster ride this year after a strong performance around the US election. Having peaked at $428 in January, shares in the electric vehiclemaker plummeted by almost half in March as investors reacted negatively to Musk's involvement in the Trump administration. Tesla stock then rallied when Trump paused his unprecedented tariffs on the rest of the world and after US regulators eased rules on self-driving vehicles. Trump came to Musk's aid when Tesla vehicles and dealerships were attacked Image:What's at stake for Musk's empire? The public spat, as well as Trump's budget plans, have left the fortunes of Musk's companies hanging in the balance. Tesla, Musk's most profitable firm, could be severely impacted by Trump's plans to cut a subsidy on new electric vehicles that is worth up to $7,500 for buyers. Despite Musk's aggressive criticism and lobbying by Tesla, Trump plans to eliminate the credit by the end of the year, seven years before it was due to expire. News agency Bloomberg cited JP Morgan analysts as saying that the cut would reduce Tesla's full-year profit by $1.2 billion. Cuts to state-level credits could further impact the EV maker's bottom line this financial year. It could, however, encourage EV buyers to bring forward their plans and spur demand for Tesla's vehicles in the short term. Tesla is already being impacted by Trump's tariffs as the firm relies on Chinese parts for its Cybercab robotaxi and Semi electric truck. Starlink satellite system shaping modern warfare To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video However, it is unclear whether Trump can unilaterally make good on his threat to tear up federal contracts with Musk's firms like SpaceX. Since 2000, SpaceX has received more than $22 billion in contracts from the US Defense Department and space agency NASA. If Trump were to terminate the contracts, it would have a huge financial impact on SpaceX and disrupt the US government's space ambitions. SpaceX's Crew Dragon is currently the only US spacecraft certified to carry crew to the International Space Station (ISS). Any ending of Pentagon contracts involving Musk's Starlink satellite internet service would also be a lose-lose for both Musk and the government. Starlink provides broadband services to rural areas. Terminals are also deployed on US military bases, ships, aircraft, and armored vehicles. The satellite internet service is often used for disaster response. Edited by: Uwe Hessler
Int'l Business Times
3 hours ago
- Int'l Business Times
Tesla Shares Rise Over 5% After Elon Musk Hints at Cool off Period With President Donald Trump
Elon Musk's net worth fell by almost £25.11 billion ($34 billion) in a short span after Tesla (NASDAQ:TSLA) shares tanked over 14% yesterday to wipe out £110.81 billion ($150 billion) in market value over a spiralling public clash between the richest person in the world and the US President Donald Trump, two people who worked together for months to reshape the federal government. The rift between the two over a tax bill took an ugly turn when Trump threatened to cancel federal contracts with Musk's companies. The SpaceX owner responded with his own threats to decommission the Dragon spacecraft, which carries astronauts and cargo to and from the International Space Station. Bloomberg estimated that total revenue for SpaceX and Tesla from federal unclassified contracts was over £16.25 billion ($22 billion) over the past two decades. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's governmental subsidies and contracts,' Trump wrote on Truth Social. While Musk has claimed that Trump's tax-cut bill could bankrupt America and trigger a recession by year-end, financial analysts forecast that the legislation would also abolish a credit of up to £5,540 ($7,500) for buyers of several Tesla models by 2025-end and lead to a £886.49 million ($1.2 billion) financial impact on the company's full-year profit. If the proposed bill is passed, the end of credits would arrive seven years ahead of schedule. 'Elon was wearing thin, I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!," Trump had wrote. After a public spat where Musk even suggested Trump's impeachment and that his name is in the Epstein files, the Tesla owner hinted he is open to cooling off tensions with Trump, which lifted the EV stock by 5.4% in Friday premarket trading. In response to an X user tweet saying that it is a shame this back and forth and that both Musk and Trump 'cool off' for a few days, Musk responded by saying it is 'good advice' and that 'we [SpaceX], won't decommission Dragon.' Even billionaire investor Bill Ackman urged both to 'make peace for the benefit of our great country,' to which Musk said, 'you're not wrong.' According to Politico, White House aides plan a call with Musk today to de-escalate the situation. Tesla stock lost nearly all its gains in May on investor optimism about Musk stepping down from the White House role to focus on his business ventures. In one of his tweets, Musk even suggested creating a new political party that would represent '80% in the middle.' Even Mark Cuban endorsed the idea in a tweet. While Cuban and Musk have sparred on various subjects, including DEI and Trump, the billionaires appear to have found some common ground. The Shark Tank star's view on a new political party might not come as a surprise, as he had previously highlighted his dismay with both political parties. Disclaimer: Our digital media content is for informational purposes only and not investment advice. Please conduct your own analysis or seek professional advice before investing. Remember, investments are subject to market risks and past performance doesn't indicate future returns. Originally published on IBTimes UK Elon musk Tesla Donald trump Trump
