Trump says US will continue to support Israel against Iran as military attacks continue for 3rd day
US President Donald Trump said on Sunday that he hopes Israel and Iran will eventually reach a ceasefire agreement but noted that sometimes "you have to fight it out first." Speaking to reporters before heading to the G7 summit in Canada, Trump said, "We're always going to support Israel," reaffirming America's long-standing backing of the country.When asked if he had requested Israel to pause its military strikes on Iran, Trump declined to respond. He reiterated that a deal between the two countries is possible but did not offer specifics. Tensions between Israel and Iran have escalated in recent days.advertisementThis is a developing story. It will be updated.
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Business Standard
41 minutes ago
- Business Standard
G7 summit opening in Canada with focus on trade, wars, not riling Trump
When US President Donald Trump last came to Canada for a Group of Seven summit, the enduring image was of him seated with his arms folded defiantly as then-German Chancellor Angela Merkel stared daggers at him. If there is a shared mission at this year's G7 summit, which begins Monday in Canada's Rocky Mountains, it is a desire to minimise any fireworks at a moment of combustible tensions. The 2018 summit ended with Trump assailing his Canadian hosts on social media as he departed on Air Force One, saying he had instructed the US officials who remained in Quebec to oppose the G7 joint statement endorsed by the leaders of Japan, France, the United Kingdom, Italy, Germany and, of course, Canada. I have instructed our US Reps not to endorse the Communique as we look at Tariffs on automobiles flooding the U.S. Market! Trump posted on the site then known as Twitter. This time, Trump already has hit several dozen nations with severe tariffs that risk a global economic slowdown. There is little progress on settling the wars in Ukraine and Gaza and now a new and escalating conflict between Israel and Iran over Tehran's nuclear programme. Add to all of that the problems of climate change, immigration, drug trafficking, new technologies such as artificial intelligence and China's continued manufacturing superiority and chokehold on key supply chains. Asked if he planned to announce any trade agreements at the G7 as he left the White House on Sunday, Trump said: We have our trade deals. All we have to do is send a letter, This is what you're going to have to pay.' But I think we'll have a few, few new trade deals." At stake might be the survival of the G7 itself at a time when the Trump administration has sent mixed signals about whether the president will attend the November Group of 20 summit in South Africa. What Trump opposed at the 2018 summit in Quebec wasn't just tariffs, but a focus on having alliances with a shared set of standards seeking to shape policies. The big dispute in Quebec were the references to the rules-based international order and that's where that famous photo comes from, said Peter Boehm, Canada's counselor at the 2018 G7 summit in Quebec and a veteran of six G7 summits. I think it gave everyone the idea that G7s were maybe not business as usual. The German, U.K., Japanese and Italian governments have each signalled a belief that a friendly relationship with Trump this year can reduce the likelihood of outbursts. Well, I have got a good relationship with President Trump, and that's important," UK Prime Minister Keir Starmer said Saturday as he flew to Canada. There is no plan for a joint statement this year from the G7, a sign that the Trump administration sees no need to build a shared consensus with fellow democracies if it views such a statement as contrary to its goals of new tariffs, more fossil fuel production and a Europe that is less dependent on the U.S. military. The Trump administration almost certainly believes that no deal is better than a bad deal, said Caitlin Welsh, a director at the Center for Strategic and International Studies think tank who was part of Trump's team for the G7 in Trump's first term. The White House has stayed decidedly mum about its goals for the G7, which originated as a 1973 finance ministers' meeting to address the oil crisis and steadily evolved into a yearly summit that is meant to foster personal relationships among world leaders and address global problems. The G7 even briefly expanded to the G8 with Russia as a member, only for Russia to be expelled in 2014 after annexing Crimea and taking a foothold in Ukraine that preceded its aggressive 2022 invasion of that nation. Trump will have at least three scheduled bilateral meetings during the summit with other world leaders while in Canada, staring on Monday morning with Canadian Prime Minister Mark Carney. The US president is also expected to have bilateral meetings with Mexican President Claudia Sheinbaum and Ukrainian President Volodymyr Zelenskyy, according to an administration official. The US president has imposed 25% tariffs on steel, aluminum and autos, all of which have disproportionately hit Japan. Trump is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period set by him would expire. The United Kingdom reached a trade framework with the U.S. that included quotas to protect against some tariffs, but the 10% baseline would remain as the Trump administration is banking on tariff revenues to help cover the cost of its income tax cuts. Canada and Mexico face separate tariffs of as much as 25% that Trump put into place under the auspices of stopping fentanyl smuggling, through some products are still protected under the 2020 US-Mexico-Canada Agreement signed during Trump's first term. The Trump administration has insisted that its broad tariffs will produce trade agreements that box out China, though it's unclear how antagonizing trade partners would make them want to strengthen their reliance on the U.S. Carney, the Canadian leader, has been outspoken in saying his country can no longer look to the U.S. as an enduring friend. That might leave Trump with the awkward task of wanting to keep his tariffs in place while also trying to convince other countries that they're better off siding with the U.S. than China. Trump will try to coordinate the group against China's economic coercion, Josh Lipsky, chair of international economics at the Atlantic Council, wrote in an analysis. But the rest of the leaders may turn back to Trump and say that this kind of coordination, which is at the heart of why the G7 works, would be easier if he weren't imposing tariffs on his allies.
News18
42 minutes ago
- News18
Israel-Iran War News LIVE Updates: 3 Dead, 100 Injured In Iranian Ballistic Missile Attack
Israel-Iran Conflict Live Updates: As the Iran-Israel conflict escalation enters its fourth day, an Iranian ballistic missile reportedly hits the Haifa refinery in Israel, retaliating against Israel's strikes on Iranian energy and nuclear sites. Several loud explosions also rocked the Fordow nuclear site, causing ground tremors. The earthquake triggered near the nuclear facility was measured at 2.5 on the Richter scale. According to Iran's health ministry, Israeli strikes have killed 224 people since the beginning of the conflict on June 13. The region is bracing for a protracted conflict following Israel's surprise bombardment of Iranian nuclear and military sites on Friday, which resulted in the deaths of several top generals and nuclear scientists. With neither side showing any signs of backing down, the situation remains volatile. US President Donald Trump has expressed full support for Israel's actions while warning Iran that it can avoid further destruction only by agreeing to a new nuclear deal.
Hindustan Times
42 minutes ago
- Hindustan Times
Gold prices hit near two-month high amid escalating Israel-Iran tensions
Gold rose for a fourth straight session to a near two-month high on Monday, as intensified clashes between Israel and Iran over the weekend stoked fears of a broader regional conflict, pushing investors towards safe-haven assets. Spot gold gained 0.3% to $3,442.09 an ounce, as of 0246 GMT, after hitting its highest level since April 22 earlier in the session. U.S. gold futures advanced 0.3% to $3,461.90. "It's the joint political risk premium that's rising due to the Iran-Israel conflict at this point that is boosted safe-haven demand for gold," said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA. "We have a clear break above $3,400 right now and the short term uptrend is intact. We are seeing resistance level at $3,500 and with the possibility of breaking new high above the $3,500 level." Israel and Iran launched fresh attacks on Sunday, killing and wounding civilians and raising concerns of a broader regional conflict, with both militaries urging civilians on the opposing side to take precautions against further strikes. U.S. President Donald Trump said he hopes Israel and Iran can broker a deal but said sometimes countries have to fight it out first. Gold often considered a safe-haven asset during times of geopolitical and economic uncertainty. Investors this week will look forward to host of central bank monetary policy decisions, with the spotlight on the U.S. Federal Reserve on Wednesday. The U.S. central bank is widely anticipated to keep interest rates steady, with markets awaiting for signals on potential rate cuts in the months ahead. Futures markets suggest expectations for two rate cuts by year-end, possibly starting in September, bolstered by tame inflation data last week. [FEDWATCH] Elsewhere, spot silver steady at $36.29 per ounce, platinum rose 0.4% to $1,233.87, while palladium gained 1.3% to $1,040.96.
