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Photo: Lior Mizrahi / Getty Images

President Trump will meet Israeli Prime Minister Benjamin Netanyahu on Thursday at the World Economic Forum in Davos. National security adviser H.R. McMaster said at the White House press briefing that Trump and Netanyahu will discuss the Iranian threat and the effort to promote the peace process between Israel and the Palestinians.

Why it matters: The meeting will come at a time when on both issues — Iran and the Middle East peace process — there is a current or looming crisis. Trump and Netanayhu are in agreement about the need to fundamentally "fix" the Iranian nuclear deal or even to "nix" it. Trump and Netanyahu are the only Western leaders holding this position.

What else to watch: Netanyahu said today before leaving for Davos that he will meet this week with French President Emmanuel Macron and German Chancellor Angela Merkel. He'll stress to them that the next few weeks will be "the last opportunity to make real — not cosmetic — changes in the Iran nuclear deal" before Trump decides that the U.S. should leave the deal.

After Trump's December announcement that the United States would recognize Jerusalem as the capital of Israel, the efforts of his administration to get "the ultimate deal" between Israel and the Palestinians took a hard hit. The Palestinians decided to cut ties with the White House and announced they will not agree to any American mediation in the peace process.

This will be the second meeting this week between the most senior members of the U.S. government and the Israeli prime minister. Earlier today, Vice President Mike Pence left Israel after a 48-hour visit that focused on U.S.-Israel relations.

Go deeper

30 mins ago - World

Iran agrees to resume Vienna nuclear talks in November

Ali Bagheri (R) with Enrique Mora in Tehran on Oct. 14. Photo: Iranian Foreign Ministry handout via Getty

Iran's new chief nuclear negotiator said following a meeting in Brussels on Wednesday that Iran would resume negotiations in Vienna before the end of November, with the exact date to be set next week.

Why it matters: The Vienna talks have been frozen since Iran's new hardline president, Ebrahim Raisi, was elected in June. This is the most direct commitment from Raisi's government to return to the negotiating table.

Dan Primack, author of Pro Rata
6 hours ago - Politics & Policy

Democrats' billionaires tax explained

Illustration: Aïda Amer/Axios

There is now legislative language behind the push to tax American billionaires on unrealized capital gains, as Sen. Ron Wyden last night released his 107-page plan.

Why it matters: This would be a sea change in U.S. tax policy, which has only applied to realized gains (otherwise known as income).

COP26 head warns Glasgow summit will be "harder than Paris"

Alok Sharma, U.K. COP26 president, in Milan on Sept. 30, 2021. Photo: Stefano Guidi/Getty Images

U.K. COP26 President Alok Sharma told reporters Tuesday that the upcoming talks in Glasgow, widely viewed as the last chance to avoid some of the worst consequences of global warming, will be extremely difficult.

Driving the news: Sharma sought to temper expectations and note that the agenda features some of the toughest items that negotiators have punted on at previous summits.

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