Good Monday evening. In this edition: U.S. and Iran reach tentative deal to end the war and reopen the Strait of Hormuz.
Plus, Newsom, FISA, McConnell and July 4.
Iran War
The U.S. and Iran digitally signed a framework agreement on Sunday to end the monthslong war, but the details of the memorandum of understanding remain unclear, with both sides giving differing accounts of what it entails.
"Many presidents have tried to make Peace with Iran, and all have failed before me. The Leaders of the Region have, for the first time, found a President who can help them achieve real Peace."
The agreement, which President Trump said will be revealed after a public signing ceremony on Friday, is focused primarily on ending attacks and allowing ships to move through the critical Strait of Hormuz.
"As you know, they're doing a little hunting for a couple of mines that they've already found. But it's essentially — ships are starting to go out now. On Friday, it'll be completely opened."
Iran closed the strait, a major oil conduit, when the U.S. and Israel launched attacks against the country in late February, grinding shipping to a halt and driving up energy costs around the globe.
On Monday, oil prices fell to their lowest level since just after the war began, with Brent crude, the international benchmark, trading at about $83 per barrel.
That should eventually provide some relief at the pump, but experts caution it could take months for gas prices to fall to pre-war levels.
The fate of Iran's nuclear program, which the president has cited as the main reason for starting the conflict, will be left to further negotiations over the next 60 days.
The upcoming negotiations will focus on curbing Iran's nuclear program and easing U.S. sanctions and unfreezing Iranian assets, which are expected to occur as Tehran reaches certain milestones under the agreement.
Iran has also indicated it does not view issues surrounding the strait as fully resolved and suggested it could still seek to collect "fees" from ships moving through the narrow waterway.
Congress will want to weigh in on whatever final deal is crafted, as Senate Majority Leader John Thune (R-SD) indicated last week, a view echoed Sunday night by Sen. Lindsey Graham (R-SC), an Iran hawk.
"Under our law, any nuclear deal with Iran will be sent to Congress for review and a vote," Sen. Graham wrote on social media. "I look forward to reviewing the final product."
Senate Minority Leader Chuck Schumer (D-NY) demanded the Trump administration share details with Congress and the American people about the deal.
"Americans still have more questions than answers," he said on the floor. "There are still many unknowns about Trump's negotiations with Iran, but we know this for certain: we are worse off than before Trump began this foolish war of choice."
Israeli Prime Minister Benjamin Netanyahu, who linked arms with President Trump at the start of the war but has grown increasingly at odds with the president in the months since, cast the agreement as "Trump's decision."
The prime ministeracknowledged at a press conference that he and the president "do not always see eye to eye" and said his country's "struggle has not ended," vowing to keep Israeli forces in Lebanon, Gaza and Syria "for as long as necessary."
A public signing ceremony for the memorandum of understanding is slated to take place Friday in Switzerland.
Vice President JD Vance, special envoy Steve Witkoff and the president's son-in-law Jared Kushner will lead the U.S. delegation at the ceremony.
California Gov. Gavin Newsom (D) said he is being investigated by the Justice Department, accusing President Trump of weaponizing the justice system to target him and his wife, Jennifer Siebel Newsom, for political purposes. "Donald Trump isn't just coming after me because of my mean tweets," the governor said in a video. "He's coming after me because I am considering running for president." Gov. Newsom said friends and associates have been questioned by federal agents as part of what he portrayed as a fishing expedition. "He has directed his Department of Justice to investigate us," he said. "They have not found a crime — they are simply trying to find one." A person familiar with the investigations told the New York Times they were "initiated by federal law enforcement officials in California, based on government witnesses offering information there, and were not launched by officials in Washington."
President Trump is now threatening to veto an extension of Section 702 of the Foreign Intelligence Surveillance Act (FISA) if the bill does not also include the SAVE America Act, his proposed overhaul of the nation's election system that lacks enough support in Congress to pass. "The Dumocrats want FISA because that's what they used to go after me for three years during my First Term!" he wrote on social media. "I'm against FISA if it doesn't come with The Save America Act (Full version!) firmly attached to it." Section 702 authority, which allows warrantless surveillance of foreign targets abroad, expired Friday after a bipartisan renewal deal fell apart following the president's appointment of Bill Pulte as director of national intelligence.
Sen. Mitch McConnell (R-KY), 84, was hospitalized Sunday, his office said, without providing any information about his condition or prognosis. "Senator McConnell was admitted to the hospital this morning. He is receiving excellent care," spokesperson David Popp said in a statement. Sen. McConnell, who stepped down last year as GOP leader after a record 18 years atop the conference, has experienced a series of health issues in recent years, including multiple falls and another hospitalization in February for flu-like symptoms. "I'm hopeful that he'll be back this week," his successor, Sen. John Thune (R-SD), told reporters.
President Trumpannounced plans to hold "the most spectacular TRUMP RALLY of them all" on July 4 between the Lincoln Memorial and Washington Monument, featuring a record-breaking fireworks show to mark the country's 250th birthday. He also said a June 24 kickoff event for the summerlong celebrations will include performances by country singer Lee Greenwood and tenor Christopher Macchio. The announcement comes after most of the previously scheduled performers dropped out of the "Great American State Fair" concert series.
For your radar…
President Trump participates in more G7 events on Tuesday, including a "family photo" and meetings with leaders of several Middle East countries. Watch LIVE on C-SPAN starting at 3am ET.
Hal Duncan, the president's nominee to be deputy White House budget director, testifies Tuesday at a confirmation hearing before the Senate Budget Committee. Watch LIVE on C-SPAN at 10am ET.
