Happy Wednesday and welcome to your morning wrap of the political and business headlines from around the world.
First up, US President Donald Trump has ruled out sending American troops to Ukraine as part of security guarantees in any peace deal with Russia.
The BBC reported that Trump was asked what guarantees could look like for Ukraine, to which he said France, Germany and the UK were among those “who want to have boots” on the ground, adding, “I don’t think it’s going to be a problem”.
The President was categorical about US troops not being deployed in Ukraine. “You have my assurance, and I am president,” he said. “I’m just trying to stop people from being killed.”
However, Trump hinted at US air support for Ukraine and told Fox News that his Russian counterpart, Vladimir Putin, would face a “rough situation” if he didn’t cooperate. Trump also told Fox News he “sort of” set up a meeting between Putin and Ukrainian President Volodymyr Zelensky. “I called President Putin, and we’re trying to work out a meeting with President Zelensky ... if that works out, then I’ll go to the trilat (trilateral) and close it up,” he said.
Meanwhile, Zelensky, writing on social media, described his talks at the White House yesterday as a “significant step toward ending the war”.
Volodymyr Zelensky.
Moving to the Middle East, where Israel is weighing militant group Hamas’ response to a proposal for a 60-day truce in Gaza and a hostage release, Reuters reported.
The proposal included the release of 200 Palestinians jailed in Israel and an unspecified number of imprisoned women and minors, in return for 10 living and 18 deceased hostages from Gaza, according to a Hamas official. Israel said a total of 50 hostages remained in Gaza, 20 of them alive.
“Israel's policy is consistent and has not changed. Israel demands the release of all 50 hostages in accordance with the principles established by the Cabinet for ending the war. We are in the final, decisive stage of Hamas and will not leave any hostage behind,” an Israeli political source said.
The comment fell short of an outright rejection of the proposal. Efforts to pause the fighting have gained new momentum over the past week.
Staying with Israel, the country’s Prime Minister, Benjamin Netanyahu, has called his Australian counterpart, Anthony Albanese, a “weak politician” who has “betrayed Israel and abandoned Australia’s Jews,” the ABC reported.
The post on social media is the latest in a war of words between the two leaders, which was sparked after Israel’s foreign minister revoked visas for Australia’s representatives to the Palestinian Authority. This was widely seen as a retaliatory move for Australia’s decision to recognise a Palestinian state.
Israel also cited the Australian government’s decision to cancel visas for Israeli figures wanting to travel to Australia, including far-right politician Simcha Rothman. Albanese is yet to respond to Netanyahu’s latest barb.
Anthony Albanese is yet to respond to Netanyahu's latest barb.
In trade news, the United States has expanded its 50% steel and aluminium tariffs to include more than 400 additional product categories, CNBC reported.
The tariff list now covers products such as fire extinguishers, machinery, construction materials, and specialty chemicals that either contain or are contained in aluminium or steel.
“This isn’t just another tariff, it’s a strategic shift in how steel and aluminium derivatives are regulated,” Kuehne+Nagel International AG vice president of customs Brian Baldwin wrote on LinkedIn, as quoted by CNBC.
The US Department of Commerce said the levies extended to 407 new product categories, expanding the reach and closing loopholes used to circumvent previously announced metal tariffs.
Coils of steel.
Moving to business, US chipmaker Intel has received a US$2 billion capital injection from SoftBank Group, Reuters reported.
The investment is seen as a lifeline for the US firm, which has struggled to compete after years of management blunders left it without a foothold in the booming artificial intelligence chip industry.
At the same time, Associated Press reported that the Trump administration wanted to take a significant stake in the company, deepening its ties with the sector. This marks a sharp reversal from the president’s recent push to have its chief executive ousted.
Trump’s Commerce Secretary, Howard Lutnick, said in an interview that the deal would involve converting federal grants, originally pledged by the Biden administration to Intel, into equity. This would make the US government one of the company’s largest shareholders.
“We think America should get the benefit of the bargain,” Lutnick said, as he explained why Trump was pushing for the deal. “It’s obvious that it’s the right move to make.”
