Trump admin live updates: President denies $300B fund for Iran, says no US money going to it

President Trump denied that there is a $300 billion fund for Iran in the peace deal, saying others can invest but no American money will be given.

“It’s false,” he said when asked about the fund.

“You can invest if you want,” he said. “We’re not investing, we’re not putting up 10 cents, and people can decide to do that, but that’s up to them.”

The president was then asked if he’s asking Gulf countries to invest in it. 

“No, I’m not. If they do it fine. But I would say they won’t be doing it for a while until they find out the behavior. It’s a behavior thing but we are not investing,” Trump said. 

“We are not invested. It’s a false story that got picked up incorrectly,” he added.

Vice President JD Vance has said Iran could attract up to $300 billion in investments from the Gulf states if they meet obligations about ending their nuclear program.

President Trump described President Obama as a “stupid son of a bitch” when discussing the peace deal with Iran on Wednesday.

Trump has long criticized the deal Obama made with Iran, known as the JCPOA. It limited Iran’s nuclear program in return for sanctions relief and other provisions. 

“They tried to bribe their way out, and you know what the Iranians did – they laughed at Obama, and they said he’s a stupid son of a bitch,” Trump said.

President Trump said the deal with Iran is not final, and if he doesn’t like the final option, he’ll go back to bombing the country.

“It’s not final, it’s a memorandum of understanding, and if I don’t like it, we’ll go back to shooting at them, dropping bombs on their head,” he said of the Memorandum of Understanding that will be signed on Friday.

After the signing, there will be a 60-day phase two where more details will be worked out, particularly on Iran’s nuclear program and the handling of the Strait of Hormuz.

Trump said if he doesn’t like those results, the bombing will restart.

“If I don’t like it, if they don’t behave, we’ll go right back to dropping bombs right smack in the middle of their head,” he said.

President Trump said he’ll talk about his Iran deal more at his press conference later Wednesday, but he bragged the markets loved it.

“It’s a very strong deal. Nobody knows what it is, but it’s very strong,” he said. The text has not been released, but Trump has previously said it would come out on Friday after the deal is formally signed.

The president went on to praise the markets, which rose on the news of the deal. Oil has fallen below $80 a barrel since March.

“There’s nothing so smart as the market and the market loves it,” he said. “The stock market has gone through the roof and oil has come tumbling down.”

He said without the deal: “The alternative would be a worldwide depression.”

The G7 leaders got off to a late start on Wednesday, the final day of the summit, with President Trump the last one to join their morning session on the economy.

Trump was the last leader in the room and, in fact, Treasury Secretary Scott Bessent was seated at the American place at the table. Trump walked up and joked, “I’m the boss,” before replacing Bessent in the seat.

French President Emmanuel Macron tried to start the meeting, but Trump interrupted, inviting members of the media to stay.

“Would you like to stay for the meeting? It’s ok with me,” he said, but French officials promptly escorted the press out. 

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As the press were leaving, Trump could be heard saying: “It’s too hot in here.”

The president made several posts on Truth Social on Wednesday morning during the time the session was supposed to start.

President Donald Trump said that Wednesday’s Senate hearing to approve Jay Clayton to be the next US spy chief was being canceled and would not go forward until James McDonald is approved to be US Attorney for the Southern District of New York.

In a Truth Social post, Trump also said that he would not approve the renewal of Foreign Intelligence Surveillance Act without his Save America Act going along with it.

WASHINGTON — DC City Councilmember Robert White won the Democratic nod Tuesday night to become the first new delegate to Congress from the nation’s capital in 36 years.

White won 63.2% of the vote compared to his City Council colleague Brooke Pinto, who notched 21.5% when the contest was called by the Associated Press just after 12:10 a.m. ET. Wednesday.

He is almost sure to win the delegate post in November and represent one of the most Democratic constituencies in America.

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Polls are closed in California’s 14th district, where a special election to replace disgraced Rep. Eric Swalwell was held.

Swalwell resigned from Congress in April after a series of sexual assault allegations emerged.

Alleged victim Lonna Drewes, 50, held a press conference in Beverly Hills claiming he drugged and raped her in a hotel room in 2018. She tearfully described how the congressman allegedly spiked her drink before choking and sexually assaulting her in West Hollywood.

If none of the challengers in the crowded field reaches 50%, the race will head to a runoff.

Three-term congressman Rep. Barry Moore defeated former Navy SEAL Jared Hudson in Alabama’s GOP Senate runoff.

Barry Moore had the endorsement of President Trump and the House Freedom Caucus in the race.

The Republican will face the winner of the Democrats’ runoff, either Dakarai Larriett or Everett Wess in November.

Mike Mazzei, Gentner Drummond are heading to a runoff.

Former Oklahoma state Senator Mike Mazzei and current Oklahoma Attorney General Gentner Drummond are headed to a runoff in Oklahoma’s hard-fought GOP gubernatorial primary.

The candidates will face off in the runoff on August 25th.

Billionaire Republican gubernatorial candidate RickJackson likened his victory to SEC Championship win — and promised he “can’t be bought”

“I’m the only candidate who doesn’t owe a thing to the political establishment.I can’t be bought and I won’t back down.”

Jackson defeated Burt Jones, who was endorsed by President Trump and Gov. Brian Kemp.

The healthcare entrepreneur remembered his humble roots and time in foster care, and credited God for his success in life.

WASHINGTON — Billionaire Rick Jackson scored an upset victory in the Georgia governor’s race against Lt. Gov. Burt Jones (R), who was endorsed by both Gov. Brian Kemp and President Trump in the highly competitive runoff race Tuesday.

Jackson won 53% of voters in the Peach State, while Jones won 47% when the race was called by the Associated Press at 9:45 pm ET.

The billionaire’s victory marks a rare endorsement defeat for Trump, who has enjoyed a near-perfect record in House, Senate, and governor’s GOP primary races this cycle, suffering his first setback in Iowa two weeks ago, when his pick Randy Feenstra lost to Zach Lahn.

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