
Behind the Story: Trump's crypto schemes, 'worthless' deals, and Qatar's wooden horse
US president Donald Trump is embarking on a visit to the Middle East this week. As he steps onto his plane, it is another one from the Qataris that has been making the headlines.
Reports suggest the country will gift him a new Air Force One jet, and it is being dubbed the "palace in the sky".
"Nothing says 'America First' like Air Force One, brought to you by Qatar," said Senate minority leader Chuck Schumer.
In the latest episode of RTÉ's Behind the Story podcast, Fran McNulty and David McCullagh discuss whether Qatar's gift plan will take off.
"Our colleague Miles Duncan was suggesting on social media that the previous record for an interstate gift was held by Greece for an equestrian object donated to Troy. And we know how that worked out for the Trojans," David said.
The pair also take a look at the president's involvement in crypto, the apparent end of the tariff tit-for-that with China, and that another deal with the UK "isn't worth the paper it's written on" according to Nobel Prize-winning economist Joseph Stiglitz.
You can listen to David, Katie, and Fran's analysis on the situation on Behind the Story which is available on the RTÉ Radio Player.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

The Journal
44 minutes ago
- The Journal
Pre-tariff tech and pharma exports from Ireland boost first-quarter economic growth
ECONOMIC GROWTH IN Ireland surged in the first quarter of this year, as the threat of US tariffs on technology and pharmaceuticals saw exports boom. Gross Domestic Product (GDP), which measures the strength and performance of the Irish economy based on the output of domestic and multinational companies in Ireland, increased by nearly 10% in the first three months of this year. The latest figures from the Central Statistics Office (CSO) show that a 9.4% increase in exports last quarter largely contributed to the economic growth, particularly in multinational-dominated sectors like technology and pharmaceuticals. Exports grew as companies in those sectors sought to deliver their goods to the US before tariffs, implemented briefly by the country's president Donald Trump, came into effect. Advertisement The Republican almost immediately paused the taxes after they began to impact the American economy. It has been reported and stated by members of government that multinational companies have postponed rounds of investments over the instability. Domestic companies last quarter grew by 0.7%. Modified Domestic Demand (MDD), which measures economic performance in Ireland based on the output of domestic companies in Ireland only, grew by 0.6%. Finance minister Paschal Donohoe said the increase in GDP and export figures are likely to be temporary. He welcomed the growth in MDD rates as a reflection of resilience among Irish companies. 'In this more challenging global environment, we must focus on policy areas where we can exert influence,' Donohoe, who is also the President of the Eurozone finance ministers, the Eurogroup, said. He added:'In particular, continuing to boost our competitiveness will be key to ensuring that Ireland remains an attractive place to live, work and invest – not just today, but over the long term.' Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal


Irish Independent
an hour ago
- Irish Independent
VAT receipts up but corporation tax takes ‘marked' drop from last year
The amount of Value Added Tax (Vat) collected to the end of May was €11.4bn, up €0.6bn or 5.5pc on the same period in 2024, despite the turbulence caused by US president Donald Trump's tariffs. In May, a Vat-due month, some €3.5bn was collected, which was €0.1bn more than in the same month last year. Daryl Hanberry, head of tax and legal, at Deloitte Ireland, said: the increase in Vat was good news. 'This reflects continued strong levels of employment and the fact that consumers are continuing to spend. We can't take this for granted, and we need to invest further for our growing population,' he said. Income tax receipts in May were €2.8bn, according to the latest Exchequer returns, which was up 3.6pc on the same month last year. On a cumulative basis, €14.5bn in income tax has been collected in the year so far, up €0.6bn or 4.5pc. This reflects a scenario of almost full employment. Total tax receipts of €38.2bn were collected to the end of May, up €3bn or 8.5pc. But when the windfall Apple tax revenues are taken out, the figure stood at €36.4bn, which was just €1.3bn or 3.6pc ahead. May is considered an important month for corporation tax revenues, and €2.5bn was collected, which was down €1.1bn, or just over 30pc, on the same month last year. Receipts in May 2024 were boosted by one-off factors, however. Overall, and excluding money from the Apple tax settlement, corporation tax this year stands at €5.7bn, which is €0.6bn or 9.4pc down on the same period in 2024. Orla Gavin, head of tax at KPMG, said: 'The dip in corporation tax receipts in May, down just over €1bn on May 2024, is unexpected, given the steady performance of corporation tax payments to date this year. 'While May is a significant month for corporate tax payments, the decline may be due to the concentrated nature of taxpayers rather than a general indication of business performance owing to global trade uncertainties. The key months of June and November will be crucial in assessing whether the government's corporation-tax forecasts for the year are achievable.' Paschal Donohoe, the minister for finance, also said the most notable feature of the Exchequer returns for May was in respect of corporation tax, which he agreed had seen a 'marked' drop year-on-year. ADVERTISEMENT 'While this reflects once-off factors last year, it nonetheless highlights the degree of concentration in the corporate tax base, wherein a small number of multinational firms can significantly impact on the overall tax yield,' he added. 'In a context of unprecedented uncertainty in the international economic landscape, this serves as a timely reminder of Ireland's exposure to changes in the global trading environment, and of the vital importance of adhering to a sensible and sustainable budgetary strategy.' Total gross voted expenditure in the first five months of the year amounted to just under €42bn, up just over 8pc on last year, but €37m behind profile. Overall, an Exchequer surplus of €4bn was recorded to the end of May. This compares to a surplus of €0.8bn last year, but the comparison is again distorted by the Apple tax settlement. Once that is taken out, the underlying surplus of €0.7bn is €0.1bn behind the same period last year. The Minister for Public Expenditure, Jack Chambers, said: 'We are seeing a significant increase in capital spending in particular, up by almost a third year on year. This underscores Government commitment to tackling infrastructure gaps in our economy and society. "I am currently undertaking a review of the National Development Plan to further target investment in the critical, growth enabling areas for the rest of the decade and will be bringing this review to Government next month.'


Irish Examiner
an hour ago
- Irish Examiner
Trump says it might be better to let Ukraine and Russia ‘fight for a while'
President Donald Trump has said that it might be better to let Ukraine and Russia 'fight for a while' before pulling them apart and pursuing peace. In an Oval Office meeting with German chancellor Friedrich Merz, Mr Trump likened the war in Ukraine — which Russia invaded in early 2022 — to a fight between two young children who hated each other. 'Sometimes you're better off letting them a fight for a while and then pulling them apart,' Mr Trump said. He added that he had relayed that analogy to Russian president Vladimir Putin in their phone conversation on Wednesday. The US president still left the threat of sanctions on the table. He said sanctions could be imposed for both Ukraine and Russia. 'When I see the moment where it's not going to stop … we'll be very, very tough,' Mr Trump said.