The U.S. and Ukraine have signed a new agreement granting Washington access to Ukraine’s rare earth minerals and energy resources. ⁠
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The deal, named the United States-Ukraine Reinvestment Fund, is framed as a joint investment initiative and is expected to support Ukraine’s reconstruction while offering the U.S. compensation for its military assistance. ⁠
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Treasury Secretary Scott Bessent said the agreement reflects “a peace process centered on a free, sovereign, and prosperous Ukraine,” and President Donald Trump called the terms a safeguard against the U.S. “looking foolish” by not being repaid.⁠
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Ukraine’s government approved the deal after adding provisions to create a more balanced partnership. Prime Minister Denys Shmyhal described it as “an equal and good international deal.” ⁠
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The updated version limits the American contribution to future military aid, excludes previous assistance, and affirms compatibility with Ukraine’s path toward EU membership.⁠
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President Donald Trump said Wednesday that the U.S. and China have reached a deal in which China will supply rare earth minerals and magnets, and the U.S. will allow Chinese students to study at American universities.⁠
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“WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT!” Trump wrote on Truth Social.⁠
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A White House official said the U.S. tariff includes a 10% reciprocal rate, 20% tied to fentanyl trafficking, and a 25% carryover from past policies. China will apply a 10% tariff on U.S. imports. Trump added that the deal awaits final approval from him and President Xi Jinping. “FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA,” he said.⁠
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Officials said the agreement revives a stalled trade truce by lifting Chinese export limits and resuming cooperation. Commerce Secretary Howard Lutnick described it as putting “meat on the bones” of last month’s Geneva talks.⁠
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President Donald Trump introduced a new savings initiative Monday as part of the pending $1.45 trillion budget package. ⁠
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The pilot program, called “Invest America,” would provide $1,000 in government seed money for newborns’ index fund accounts, available to U.S. citizens born from 2025 through 2028. Contributions up to $5,000 annually could also be made by families, friends, or employers. “These men and women lead large, successful companies. And they are committed to contributing millions of dollars to the Trump account,” Trump said.⁠
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The event brought together Trump, House Speaker Mike Johnson, and executives from firms including Dell, Uber, Goldman Sachs, and Robinhood. Michael Dell said his company would match the federal contribution and add a “significant gift” from his foundation. ⁠
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“This is an investment in our people, their families, our communities and America’s future,” Dell said. The accounts, controlled by legal guardians until beneficiaries turn 18, allow partial withdrawal at 18 and full access by age 30.⁠
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President Donald Trump’s newly released budget plan calls for a $163 billion cut to nondefense spending while increasing the defense budget to $1.01 trillion. ⁠
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The Department of Homeland Security would receive $175 billion to fund expanded border security. The proposal targets “woke” and “radical left” programs and seeks to eliminate funding for climate initiatives, DEI efforts, and agencies such as the National Endowment for the Arts and the Corporation for Public Broadcasting.⁠
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The Department of Education would lose $12 billion, with funding shifted toward charter schools. Health and Human Services would see a $33.3 billion cut, eliminating grants for mental health, substance abuse, and chronic illness prevention. ⁠
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The EPA faces a $5 billion reduction, with climate programs slashed and limited investment in clean water. Several international aid programs, including disaster relief and peacekeeping, would be eliminated or severely cut.⁠
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Despite widespread cuts, the Department of Defense receives a $113.3 billion boost, with pledges to dismantle DEI and climate programs. The VA would gain $5.4 billion for healthcare and records upgrades, while NASA’s budget would drop by $6 billion, with funding redirected to lunar and Mars exploration. ⁠
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The budget also includes increases for rural development, food inspection, and FAA modernization, while scaling back social programs, housing support, and job training initiatives.⁠
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