Tuesday Bulletin – The New York Times

Trump’s Gulf tour focuses on business deals

President Trump is known for viewing the presidency as a global pursuit of business opportunities. Today, he will embark on a four-day visit to Saudi Arabia, Qatar, and the United Arab Emirates, with the aim of finalizing deals worth over $1 trillion, as per his instructions to his advisors.

Instead of a comprehensive strategy, the visit will be characterized by a series of financial transactions that Trump will market as job-creators for American workers. He is urging Saudi leaders to invest an amount equivalent to the nation’s entire annual gross domestic product.

This agenda conveniently aligns with Trump’s expanding business interests. His family has pending agreements with a majority Saudi-owned real estate company, a cryptocurrency deal with a U.A.E. affiliate, and a new golf and luxury villa project supported by Qatar.

A controversial offering: The Qatari royal family is courting Trump with a gift of a luxury Boeing 747-8 plane, earmarked for an upgrade to serve as Air Force One. Trump has dismissed any ethic considerations regarding the gift, claiming only a “fool” would refuse such an opportunity.

Gaza: Hamas released Edan Alexander, the last remaining U.S. hostage it held in Gaza, framing the move as an effort to garner support for a potential war-ending agreement.

More U.S. political news:

U.S. and China agree to temporary tariff reduction

The U.S. and China reached an agreement to suspend their respective tariffs for 90 days and continue their negotiations. Trump mentioned that he expects to discuss with President Xi Jinping of China this week, but recognized that a comprehensive deal will take more time.

The White House signaled a retreat as the prospect of a full-blown trade war loomed over the global economy. This tariff truce underscored the constraints of Trump’s aggressive stance on trade.

Following two days of negotiations in Geneva, the U.S. has agreed to decrease tariffs on Chinese imports from 145 percent to 30 percent, while China will reduce its import tax on U.S. products from 125 percent to 10 percent. Global stocks rose after the announcement, in response to this development. Find out more here.

Latin America: This week, Xi is hosting the Brazilian president and other officials from Latin America and the Caribbean in Beijing to assert China’s ongoing commitment to maintaining its influence in the region.

Ukrainian President Volodymyr Zelensky has challenged Russia’s leader, Vladimir Putin, to a meeting in Turkey on Thursday. Trump has raised the stakes by considering joining the potential meeting. The Kremlin has not yet responded to the proposal of Trump’s involvement.

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Don Pettit, a NASA astronaut, brought his camera during a 220-day stint at the International Space Station, capturing dwarf galaxies, mesmerizing auroras, and the glowing trails of fishing boats.

“There is so much to see, whether you’re into all the technical aspects or just sitting back and thinking, How cool,” he stated. Take a look.

Lives lived: Koyo Kouoh, a celebrated figure in the global art scene set to become the first African woman to curate the Venice Biennale, passed away at 57.

Art auction week gets off to a rough start

The art market is bracing for a disappointing season after several years of declining profits. A much-anticipated auction that took place at Christie’s in New York last night proved to be underwhelming and lacked the fervor of high-spending collectors typical of the market’s zenith in 2022.

A 1922 Mondrian painting fetched $47.6 million, including fees, a standout in an otherwise dismal sale that experts attributed to economic uncertainties. Read more about the key artworks on the auction block this week here.