Trump doesn't give Israel a break on tariffs despite Netanyahu visit
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Trump greets Netanyahu today at the White House. Photo: Kevin Dietsch/Getty Images)
President Trump told reporters during a visit with Israeli Prime Minister Benjamin Netanyahu on Monday that he had not decided whether to reduce the 17% tariffs he announced on Israel last week.
Why it matters: Netanyahu was the first foreign leader to meet Trump after he launched the global tariff regime, and the meeting was closely watched by investors and other foreign governments for signs of just how flexible the president was willing to be. So far, there's no sign of a deal.
State of play: U.S. markets see-sawed wildly on Monday on any indications of the direction the trade war might take, before ending down for the day and way down over the past week.
- Trump threatened an additional 50% tariff on China if it follows through on its plan to retaliate with tariffs of its own. That would push levies on Chinese goods to at least 104%.
- But Trump also said negotiations with other countries would begin "immediately," in what the markets interpreted as a more positive sign.
Between the lines: Trump is coming under increasingly sharp criticism from American billionaires and business leaders, including some who supported him in the election.
- But he sent an uncompromising message in a flurry of Truth Social posts before the meeting with Netanyahu.
- He called his critics "weak, stupid and PANICAN" and claimed "countries from all over the World are talking to us" about negotiating new trade deals.
State of play: Netanyahu landed in Washington on Sunday. He met Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer to discuss the tariffs. The Prime Minister's Office said the meeting was "productive."
The big picture: Iran and Gaza were also on Netanyahu's agenda. Trump made the surprising announcement that the U.S. had opened nuclear talks with Iran and would hold a "high-level" meeting on Saturday.
- Netanyahu thinks the chances of a U.S.-Iran nuclear deal are extremely low but planned to present to Trump what "a good deal should look like," a senior Israeli official said.
- "Netanyahu want the Libya model. Full dismantling to the Iranian nuclear program," the official said. Iran denies it wants a bomb, but rejects the idea of shutting down its nuclear program.
- The official added Netanyahu wanted to reach an understanding with Trump about striking Iran's nuclear facilities when diplomacy fails.
Trump and Netanyahu also planned to discuss the stalled efforts to reach a new Gaza hostage and ceasefire deal.
- Trump held a call earlier Monday on Gaza with French President Emmanuel Macron, Egyptian President Abdel Fattah el-Sisi and King Abdullah II of Jordan.
- Netanyahu also met Monday with White House envoy Steve Witkoff to discuss the efforts made by Egypt and Qatar to draft an updated ceasefire proposal.
