U.S. President Donald Trump outlined plans to refill oil reserves, cut taxes, and reallocate government savings at the FII Priority Summit in Miami. He also criticized Ukraine’s leadership and called for direct talks with Russia.
Speaking at the Future Investment Initiative (FII) Priority Summit, hosted by Saudi Arabia’s sovereign wealth fund in Miami, Trump detailed his administration’s economic plans, energy strategy, and foreign policy stance.
At the forefront was his pledge to quickly refill the U.S. Strategic Petroleum Reserve (SPR), which he said was depleted by his predecessor, Joe Biden, to lower gasoline prices.
📢 “We’ll fill it up fast,” Trump declared, without detailing how or when the reserves would be restored.
His speech also focused on major tax cuts, promising to eliminate taxes on tips, overtime, and Social Security benefits while also lowering taxes for workers, businesses, and energy producers.
📢 “We’re going to dramatically cut taxes for families, for workers, and for companies,” he said, adding that companies investing in new U.S. factories and infrastructure would be able to expense 100% of their investments.
Trump also addressed government spending, announcing that his administration is considering returning 20% of savings—from Elon Musk’s Department of Government Efficiency initiative—directly to Americans, while another 20% would go toward reducing federal debt.
🌍 Trump’s Stance on Ukraine and Russia
On foreign policy, Trump doubled down on his skepticism toward U.S. support for Ukraine, claiming that President Volodymyr Zelenskyy convinced Washington to spend $350 billion on a war that “never had to start.”
📢 “They’ll never settle that war without our involvement,” Trump said, while criticizing Europe for failing to bring peace.
He also took aim at Zelenskyy’s leadership, questioning his decision to postpone elections and citing unverified casualty figures, claiming that Russia has lost 900,000 soldiers, while Ukraine has lost 700,000.
📢 “I love Ukraine, but Zelensky has done a terrible job. His country is shattered, and millions of people have unnecessarily died.”
Trump argued that diplomacy is needed, stating that “you can’t bring a war to an end if you don’t talk to both sides”. He praised Saudi Arabia’s efforts in hosting negotiations, referring to talks held in Riyadh without Ukraine’s direct participation.
The foreign ministers of the G7 group of nations on Friday called for an immediate stop to attacks against civi...
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G7 foreign ministers have condemned attacks on civilians in the Iran war and demanded the free and safe passage of sh...
Turkish military personnel participating in NATO’s mission in Iraq have been “successfully” withdrawn from the country, the Turki...
The foreign ministers of the G7 group of nations on Friday called for an immediate stop to attacks against civilians and civilian infrastructure in the Iran war.
After U.S. President Donald Trump said he would pause attacks on Iran’s energy infrastructure for 10 days, G7 Foreign Ministers, including the U.S., called for an end to attacks on civilians in the Iran war.
German Chancellor Friedrich Merz has voiced doubts about the effectiveness of the U.S. and Israeli military campaign in Iran, warning that the conflict risks becoming prolonged and increasingly complex.
G7 foreign ministers have condemned attacks on civilians in the Iran war and demanded the free and safe passage of ships through the Strait of Hormuz.
The foreign ministers of the G7 group of nations on Friday called for an immediate stop to attacks against civilians and civilian infrastructure in the Iran war.
Northern European countries must significantly boost military drone production to help Ukraine defeat Russia, Latvia’s Prime Minister has said, warning that victory would be “impossible” without greater support.
A marine drone struck a Turkish crude oil tanker that had departed Russia, causing an explosion in the Black Sea near Istanbul's Bosphorus strait on Thursday, Türkiye's transportation minister said.
The United Nations has adopted a resolution to recognise transatlantic slavery as the "gravest crime against humanity" despite resistance from Europe and the United States. Ghana proposed it at the United Nations on Wednesday calling for reparations.
Petrol price spikes triggered by the war in Iran are boosting used electric vehicle sales across Europe, online car platforms told Reuters, in an early sign that pain at the pump is pushing consumers away from combustion engines.
Turkish military personnel participating in NATO’s mission in Iraq have been “successfully” withdrawn from the country, the Turkish Defence Ministry announced on Thursday.
China and the International Atomic Energy Agency (IAEA) have agreed to deepen cooperation on the peaceful use of nuclear technology, with a focus on supporting sustainable development across the Global South.
The Independent International Commission of Inquiry on the Syrian Arab Republic has released a report on 27 March 2025 detailing extreme violence in Suwayda, Syria, in July 2025, which resulted in more than 1,700 deaths and the displacement of nearly 200,000 people.
The 2025 North Atlantic Treaty Organisation (NATO) annual report, presented by Mark Rutte, the Secretary General of the organisation, reveals a significant shift in stance and policy.
U.S. paper currency will bear President Donald Trump's signature starting this summer, the first time a sitting president has signed American money, the Treasury Department said on Thursday. The change comes as the United States prepares to celebrate its 250th anniversary.
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