Connect with us

Business

Trump says he’ll meet Putin next Friday in Alaska to discuss Ukraine war’s end and predicts ‘some swapping of territories’

Published

on



President Donald Trump said Friday that he will meet with Russian President Vladimir Putin next Friday in Alaska to discuss ending the war in Ukraine, a potential major milestone after expressing weeks of frustration that more was not being done to quell the fighting.

Speaking to reporters at the White House after announcing a framework aimed at ending decades of conflict elsewhere in the world — between Armenia and Azerbaijan — Trump refused to say exactly when or where he would meet with Putin, but that he planned to announce a location soon. Later on social media, he announced what he called “the highly anticipated meeting” would happen Aug. 15 in Alaska. He said more details would follow. The Kremlin has not yet confirmed the details.

He suggested earlier Friday that his meeting with the Russian leader could come before any sit-down discussion involving Ukrainian President Volodymyr Zelenskyy.

“We’re going to have a meeting with Russia, start off with Russia. And we’ll announce a location. I think the location will be a very popular one,” Trump said.

He added: “It would have been sooner, but I guess there’s security arrangements that unfortunately people have to make. Otherwise I’d do it much quicker. He would, too. He’d like to meet as soon as possible. I agree with it. But we’ll be announcing that very shortly.”

If it happens, the meeting would be the first U.S.-Russia summit since 2021, when former President Joe Biden met Putin in Geneva. It could mean a breakthrough in Trump’s effort to end the war, although there’s no guarantee it would stop the fighting since Moscow and Kyiv remain far apart on their conditions for peace.

Still, Trump said, “President Putin, I believe, wants to see peace, and Zelenskyy wants to see peace.” He said that, “In all fairness to President Zelenskyy, he’s getting everything he needs to, assuming we get something done.”

Trump also said that a peace deal would likely mean “there will be some swapping of territories” between Ukraine and Russia but didn’t provide further details.

Trump said of territory generally “we’re looking to get some back and some swapping. It’s complicated.”

“Nothing easy,” the president said. “But we’re gonna get some back. We’re gonna get some switched. There’ll be some swapping of territories, to the betterment of both.”

Analysts, including some close to the Kremlin, have suggested that Russia could offer to give up territory it controls outside of the four regions it claims to have annexed.

Pressed on if this was the last chance to make a major peace deal, Trump said, “I don’t like using the term last chance,” and said that, “When those guns start going off, it’s awfully tough to get ’em to stop.”

Exasperated that Putin did not heed his calls to stop bombing Ukrainian cities, Trump almost two weeks ago moved up his ultimatum to impose additional sanctions on Russia and introduce secondary tariffs targeting countries that buy Russian oil if the Kremlin did not move toward a settlement. The deadline was Friday.

Prior to his announcing the meeting with Putin, Trump’s efforts to pressure Russia into stopping the fighting have so far delivered no progress. The Kremlin’s bigger army is slowly advancing deeper into Ukraine at great cost in troops and armor while it relentlessly bombards Ukrainian cities. Russia and Ukraine are far apart on their terms for peace.

Ukrainian troops say they are ready to keep fighting

Ukrainian forces are locked in intense battles along the 1,000-kilometer (620-mile) front line that snakes from northeast to southeast Ukraine. The Pokrovsk area of the eastern Donetsk region is taking the brunt of punishment as Russia seeks to break out into the neighboring Dnipropetrovsk region. Ukraine has significant manpower shortages.

Intense fighting is also taking place in Ukraine’s northern Sumy border region, where Ukrainian forces are engaging Russian soldiers to prevent reinforcements being sent from there to Donetsk.

In the Pokrovsk area of Donetsk, a commander said he believes Moscow isn’t interested in peace.

“It is impossible to negotiate with them. The only option is to defeat them,” Buda, a commander of a drone unit in the Spartan Brigade, told The Associated Press. He used only his call sign, in keeping with the rules of the Ukrainian military.

“I would like them to agree and for all this to stop, but Russia will not agree to that. It does not want to negotiate. So the only option is to defeat them,” he said.

In the southern Zaporizhzhia region, a howitzer commander using the call sign Warsaw, said troops are determined to thwart Russia’s invasion.

“We are on our land, we have no way out,” he said. “So we stand our ground, we have no choice.”

Putin makes a flurry of phone calls

The Kremlin said Friday that Putin had a phone call with Chinese leader Xi Jinping, during which the Russian leader informed Xi about the results of his meeting earlier this week with Trump envoy Steve Witkoff. Kremlin officials said Xi “expressed support for the settlement of the Ukrainian crisis on a long-term basis.”

Putin is due to visit China next month. China, along with North Korea and Iran, have provided military support for Russia’s war effort, the U.S. says.

Indian Prime Minister Narendra Modi said on X that he also had a call with Putin to speak about the latest Ukraine developments. Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, which the American president says is helping to finance Russia’s war.

Putin’s calls followed his phone conversations with the leaders of South Africa, Kazakhstan, Uzbekistan and Belarus, the Kremlin said.

The calls suggested to at least one analyst that Putin perhaps wanted to brief Russia’s most important allies about a potential settlement that could be reached at a summit with Trump.

“It means that some sort of real peace agreement has been reached for the first time,” said Sergei Markov, a pro-Kremlin Moscow-based analyst.

Analysts say Putin is aiming to outlast the West

Trump’s Friday comments came after he said he would meet with Putin even if the Russian leader will not meet with Zelenskyy. That stoked fears in Europe that Ukraine could be sidelined in efforts to stop the continent’s biggest conflict since World War II.

Putin said in a previous statement that he hoped to meet with Trump as early as next week, possibly in the United Arab Emirates.

The Institute for the Study of War, a Washington think tank, said in an assessment Thursday that “Putin remains uninterested in ending his war and is attempting to extract bilateral concessions from the United States without meaningfully engaging in a peace process.”

“Putin continues to believe that time is on Russia’s side and that Russia can outlast Ukraine and the West,” it said.



Source link

Continue Reading

Business

Elon Musk’s X fined $140 million by EU for breaching digital regulations

Published

on



European Union regulators on Friday fined X, Elon Musk’s social media platform, 120 million euros ($140 million) for breaches of the bloc’s digital regulations, in a move that risks rekindling tensions with Washington over free speech.

The European Commission issued its decision following an investigation it opened two years ago into X under the 27-nation bloc’s Digital Services Act, also known as the DSA.

It’s the first time that the EU has issued a so-called non-compliance decision since rolling out the DSA. The sweeping rulebook requires platforms to take more responsibility for protecting European users and cleaning up harmful or illegal content and products on their sites, under threat of hefty fines.

The Commission, the bloc’s executive arm, said it was punishing X because of three different breaches of the DSA’s transparency requirements. The decision could rile President Donald Trump, whose administration has lashed out at digital regulations, complained that Brussels was targeting U.S. tech companies and vowed to retaliate.

U.S. Secretary of State Marco Rubio posted on his X account that the Commission’s fine was akin to an attack on the American people. Musk later agreed with Rubio’s sentiment.

“The European Commission’s $140 million fine isn’t just an attack on @X, it’s an attack on all American tech platforms and the American people by foreign governments,” Rubio wrote. “The days of censoring Americans online are over.”

Vice President JD Vance, posting on X ahead of the decision, accused the Commission of seeking to fine X “for not engaging in censorship.”

“The EU should be supporting free speech not attacking American companies over garbage,” he wrote.

Officials denied the rules were intended to muzzle Big Tech companies. The Commission is “not targeting anyone, not targeting any company, not targeting any jurisdictions based on their color or their country of origin,” spokesman Thomas Regnier told a regular briefing in Brussels. “Absolutely not. This is based on a process, democratic process.”

X did not respond immediately to an email request for comment.

EU regulators had already outlined their accusations in mid-2024 when they released preliminary findings of their investigation into X.

Regulators said X’s blue checkmarks broke the rules because on “deceptive design practices” and could expose users to scams and manipulation.

Before Musk acquired X, when it was previously known as Twitter, the checkmarks mirrored verification badges common on social media and were largely reserved for celebrities, politicians and other influential accounts, such as Beyonce, Pope Francis, writer Neil Gaiman and rapper Lil Nas X.

After he bought it in 2022, the site started issuing the badges to anyone who wanted to pay $8 per month.

That means X does not meaningfully verify who’s behind the account, “making it difficult for users to judge the authenticity of accounts and content they engage with,” the Commission said in its announcement.

X also fell short of the transparency requirements for its ad database, regulators said.

Platforms in the EU are required to provide a database of all the digital advertisements they have carried, with details such as who paid for them and the intended audience, to help researches detect scams, fake ads and coordinated influence campaigns. But X’s database, the Commission said, is undermined by design features and access barriers such as “excessive delays in processing.”

Regulators also said X also puts up “unnecessary barriers” for researchers trying to access public data, which stymies research into systemic risks that European users face.

“Deceiving users with blue checkmarks, obscuring information on ads and shutting out researchers have no place online in the EU. The DSA protects users,” Henna Virkkunen, the EU’s executive vice-president for tech sovereignty, security and democracy, said in a prepared statement.

The Commission also wrapped up a separate DSA case Friday involving TikTok’s ad database after the video-sharing platform promised to make changes to ensure full transparency.

___

AP Writer Lorne Cook in Brussels contributed to this report.



Source link

Continue Reading

Business

Nvidia CEO says U.S. data centers take 3 years, but China ‘can build a hospital in a weekend’

Published

on



Nvidia CEO Jensen Huang said China has an AI infrastructure advantage over the U.S., namely in construction and energy.

While the U.S. retains an edge on AI chips, he warned China can build large projects at staggering speeds.

“If you want to build a data center here in the United States from breaking ground to standing up a AI supercomputer is probably about three years,” Huang told Center for Strategic and International Studies President John Hamre in late November. “They can build a hospital in a weekend.”

The speed at which China can build infrastructure is just one of his concerns. He also worries about the countries’ comparative energy capacity to support the AI boom.

China has “twice as much energy as we have as a nation, and our economy is larger than theirs. Makes no sense to me,” Huang said.

He added that China’s energy capacity continues to grow “straight up”, while the U.S.’s remains relatively flat.

Still, Huang maintained that Nvidia is “generations ahead” of China on AI chip technology to support the demand for the tech and semiconductor manufacturing process.

But he warned against complacency on this front, adding that “anybody who thinks China can’t manufacture is missing a big idea.”

Yet Huang is hopeful about Nvidia’s future, noting President Donald Trump’s push to reshore manufacturing jobs and spur AI investments.

‘Insatiable AI demand’

Early last month, Huang made headlines by predicting China would win the AI race—a message he amended soon thereafter, saying the country was “nanoseconds behind America” in the race in a statement shared to his company’s X account.

Nvidia is just one of the big tech companies pouring billions of dollars into a data center buildout in the U.S., which experts tell Fortune could amount to over $100 billion in the next year alone.

Raul Martynek, the CEO of DataBank, a company that contracts with tech giants to construct data centers, said the average cost of a data center is $10 million to $15 million per megawatt (MW), and a typical data centers on the smaller side requires 40 MW.

“In the U.S., we think there will be 5 to 7 gigawatts brought online in the coming year to support this seemingly insatiable AI demand,” Martynek said.

This shakes out to $50 billion on the low end, and $105 billion on the high end.



Source link

Continue Reading

Business

Trump finally meets Claudia Sheinbaum face to face at the FIFA World Cup draw

Published

on



Their long-delayed first face-to-face discussion focused on next year’s World Cup — and included side discussions about trade and tariffs — but immigration was not the top issue. That’s despite Trump’s push to crack down on the U.S.-Mexico border being a centerpiece of his administration, and the driving force in the relations between both countries.

Trump has been in office for more than 10 months, and his having taken so long to see Sheinbaum in-person is striking given that meeting with the leader of the country’s southern neighbor is often a top priority for U.S. presidents.

Trump and Sheinbaum had been set to meet in June on the sidelines of the Group of Seven summit in Canada, but that was scrapped after Trump rushed back to Washington early amid rising tensions between Israel and Iran.

Soccer took center stage — but tariffs still loom large

Trump and Sheinbaum sat talking in the president’s box and also appeared onstage with Canadian Prime Minister Mark Carney at the Kennedy Center for Friday’s 2026 World Cup draw. The U.S., Mexico and Canada are co-hosting the tournament, which begins in June.

A senior White House official, who spoke on the condition of anonymity to discuss private meetings, said Trump, Sheinbaum and Carney met privately after participating in the draw.

Sheinbaum had said before leaving Mexico that she’d talk to Trump about tariffs that his administration has imposed on automobiles, steel and aluminum from Mexico, among other things. She said after appearing at the Kennedy Center that the three leaders “talked about the great opportunity that the 2026 FIFA World Cup represents for the three countries and about the good relationship we have.”

“We agreed to continue working together on trade issues with our teams,” Sheinbaum posted on X.

Mexico is the United States’ largest trading partner. The the U.S.-Mexico-Canada Agreement which Trump forged in his first term as a replacement for 1994’s North American Free Trade Agreement also remains in place. But U.S. Trade Representative Jamieson Greer has begun scrutinizing it ahead of a joint review process set for July.

In the meantime, the U.S. and Mexico’s priorities have been reshaped by the steep drop in the number of people crossing into the U.S. illegally along its southern border, as well as the White House’s — so far largely unrealized — threats to impose large trade tariffs on its neighbor.

Before speaking in-person, Trump and Sheinbaum had repeatedly talked by phone, discussing tariffs and Mexican efforts to help combat the trafficking of fentanyl into the U.S. But despite other world leaders, including Russian President Vladimir Putin and Chinese President Xi Jinping, having already met with Trump this term, the meeting with Sheinbaum hadn’t happened until Friday.

The Trump whisperer?

Waiting so long to meet in person hasn’t seemed to hurt Mexico’s president’s standing with Trump.

The two spoke by phone in November 2024, with the then-U.S. president-elect declaring afterward that they’d agreed “to stop Migration through Mexico” — even as Sheinbaum suggested her country had already been doing enough.

Trump soon after taking office threatened to impose a 25% tariff on goods imported from Mexico in an effort to force that country to better combat fentanyl smuggling, only to later agree to a pause.

The White House subsequently backed off tariff threats against most Mexican goods. Then, in October, Sheinbaum announced that the U.S. had given her country another extension to avoid sweeping 25% tariffs on goods it imports to the U.S. — even as many items covered by the USMCA trade deal remain exempt.

Mexico, though, hasn’t avoided all U.S. tariffs. Sheinbaum’s country continues to try to negotiate its way out of import levies Trump has imposed worth 25% on the automotive sector and 50% on steel and aluminum.

Sheinbaum’s success at mitigating many tariffs, and other successes in the bilateral relationship, has led some to wonder if she has a special gift for getting what she wants from him.

She’s largely pulled it off by affording Trump the respect the U.S. president demands from leaders around the world — but especially a neighboring country — and by deploying occasional humor and pushing back, always respectfully, when necessary.

Sheinbaum also defused another potential point of contention, Trump’s renaming of the Gulf of Mexico to the “Gulf of America,” by proposing dryly that North America should be renamed “América Mexicana,” or “Mexican America.” That’s because a founding document dating from 1814 that preceded Mexico’s constitution referred to it that way.

Still, Mexican officials continue to work furiously to lessen the trade blow from tariffs going into 2026 — levies that could wreck its already low-growth economy, particularly in its all-important automotive sector. Sheinbaum’s government has also sought to defend its citizens living in the U.S. as the Trump administration expands its mass deportation operations.

Sheinbaum’s government also lobbied unsuccessfully against a 1% U.S. tax on remittances, or money transfers that millions of Mexicans send home every year from the United States. It was approved as part of Trump’s tax cut and spending package and takes effect Jan. 1.

Trump’s push for mass deportations

Trump has directed federal officials to prioritize major deportation pushes in Democratic-run cities — an extraordinary move that lays bare the politics of the issues. He’s also deployed the National Guard in an effort to curb crime, which has led to a spike in immigration-related arrests, in places like Los Angeles, Chicago and Washington, as well as Memphis, Tennessee, and Portland, Oregon.

The Trump administration says its priority is targeting “the worst of the worst” criminals, but most of the people detained in operations around the country have not had violent criminal histories.

Such operations often meant targeting Mexican citizens who have lived and worked in the United States for years and may face deportation to a homeland they no longer know well. It also has meant serious threats of declining remittance income, which has fallen for seven consecutive months.

The lower number of illegal U.S.-Mexico border crossings has knocked immigration off its perch as the top agenda item for the U.S.-Mexico bilateral relations for the first time in recent memory.

Mexican officials now say conversations around immigration have shifted toward cajoling countries into taking back their citizens and reintegrating them to keep them from leaving again — a major Trump administration priority around the world.

Cooperation on security

Sheinbaum has blunted some of the Trump administration’s tough talk on fentanyl and drug smuggling cartels by giving her security chief Omar García Harfuch more authority.

Mexico has also extradited dozens of drug cartel figures to the U.S., including Rafael Caro Quintero, long sought in the 1985 killing of a DEA agent. That show of goodwill, and a much more visible effort against the cartels’ fentanyl production, has gotten the Trump administration’s attention.

That’s a significant improvement. Only a few years ago, the DEA struggled to get visas for its people in Mexico, and then-President Andrés Manuel López Obrador accused the U.S. government of fabricating evidence against a former Mexican defense secretary, though he never presented evidence to back up the allegation.

Not everything has gone so smoothly, though. Trump criticized Sheinbaum for rejecting his proposal to send U.S. troops to Mexico to help thwart the illegal drug trade.

Last month, Sheinbaum said there was no way the U.S. military would be able to make strikes in Mexico, after Trump said he was open to the idea. And she has denounced U.S. strikes on boats allegedly carrying drugs in the Caribbean and eastern Pacific.

“The president of Mexico is a lovely woman, but she is so afraid of the cartels that she can’t even think straight,” Trump said earlier this year.

Sheinbaum declined to take the bait — and avoided turning up the political pressure — by sidestepping Trump’s criticism.

___

Associated Press writer Chris Sherman contributed from Mexico City.



Source link

Continue Reading

Trending

Copyright © Miami Select.