Axios

U.S. and Iranian negotiators held marathon talks in Switzerland into Sunday night as they worked to launch a 60-day effort toward a new nuclear agreement.

Why it matters: The nearly nonstop talks at the Lake Lucerne Summit signal both sides remain engaged despite significant differences and may be laying the groundwork for broader discussions on regional security.

Vice President J.D. Vance and other U.S. negotiators met with their Iranian counterparts at the Bürgenstock ski resort in Switzerland on Sunday for the first round of talks over a deal to end the war, according to a diplomat with knowledge of the talks.

Why it matters: The Lake Lucerne Summit is the first round of direct talks between the U.S. and Iran since the Islamabad summit last April. It's supposed to launch 60 days of nuclear negotiations with the aim of limiting Iran's nuclear program.

The Iranian armed forces announced Saturday they will close the Strait of Hormuz — just three days after it reopened — alleging America's failure to rein in Israeli attacks on Lebanon violates the new ceasefire deal.

Why it matters: This is the first big crisis between the U.S. and Iran since signing a memorandum of understanding to end the war earlier this week.

Donald Trump and Giorgia Meloni's war of words over a factually contested photo op request at the G-7 exploded on Saturday, with the one-time friends blasting each other in angry terms on social media.

Why it matters: Even as Trump lavishes praise on American adversaries like China's Xi Jinping, close allies are increasingly willing to split with him.

White House envoys Steve Witkoff and Jared Kushner are in Switzerland, where the first round of talks with Iran on a potential nuclear deal is expected to take place on Sunday, U.S. officials told Axios.

• Iran's foreign minister Abbas Araghchi traveled to Switzerland on Saturday to join the talks. Vice President Vance is expected to travel to Switzerland on Saturday to participate in the negotiations Sunday, a per source familiar, while Iranian parliament speaker Mohammad Ghalibaf is also expected to attend.

Why it matters: The talks were supposed to start on Friday but were postponed because of the fighting between Israel and Hezbollah in Lebanon. It's not yet clear if a new time has been set for the talks.

President Trump praised Chinese President Xi Jinping on "The Axios Show," calling him one of the world's greatest leaders, "very smart" and "all business."

Why it matters: Trump has long admired leaders who wield centralized power and stamp their will on history. He skipped over traditional American allies when asked which world leaders he respects.

The 2026 World Cup is generating a veritable army of modern-day de Tocquevilles discovering America.

Why it matters: It's a huge moment for U.S. soft power, as the country nears its 250 birthday with a mixed global reputation at best.

President Trump said Thursday on "The Axios Show" that "it's possible" a potential Cuba invasion would resemble the swift capture of Venezuelan President Nicolás Maduro in January.

Why it matters: Trump wants to project U.S. military power across the Western Hemisphere, fitting a second term defined by blunt force and expansionist ambition.

Axios' Marc Caputo:

• Mr. President, welcome to the Axios Show.

President Trump:

• Thank you.

President Trump tells "The Axios Show" that his deal to end the war in Iran averted a global depression, that Cuba could get the same treatment as Venezuela, and that a leading AI lab looked in recent days like a national security threat.

The big picture: In a sweeping 45-minute interview on Thursday with Axios White House correspondent Marc Caputo, Trump made clear his view of the extent of his post-war power: "There are no limits."