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Trump Administration Prepares $2.8 Billion Bomb Sale to Israel as Continental Resources Eyes Venezuela Oil Deal

By Market Flux···1 min read
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The Trump administration is preparing a $2.8 billion arms package to send Israel 40,000 heavy 2,000-pound bombs, comprising 20,000 Mk84s and 20,000 BLU-117s, unpausing a weapons transfer that the Biden administration had halted over mass casualty concerns in Gaza. The deal is described as the largest single sale of the munition in recent years and follows a series of steps by the Trump administration to boost Israel's military capacity.

Separately, Continental Resources, the Oklahoma City-based oil company controlled by shale pioneer Harold Hamm, is set to announce an investment deal in Venezuela at the G20 energy ministers summit in Houston. The move comes as the Trump administration pushes American companies to help revive Venezuela's oil sector.

On trade, Chinese officials are considering including BYD in a business delegation to accompany Xi Jinping to a summit with President Trump in Washington next week, according to Bloomberg, as tensions over US tariffs on Chinese electric vehicles remain elevated. China currently faces a 100 percent tariff on EV exports to the United States.

In domestic policy, a Reuters investigation spanning the auto industry's trajectory from 2019 through 2024 highlighted a wave of domestic EV manufacturing investment launched under both Trump's first term and the Biden administration. The White House, responding to Reuters questions about the impact of Trump's current anti-EV policies on auto-manufacturing employment, did not directly address the question and instead faulted Biden for creating artificial demand through EV subsidies. Ford has already taken a $19.5 billion writedown and killed several EV models in response to the policy shift.

On Capitol Hill, House GOP leaders canceled votes scheduled for Wednesday and sent members home until after the midterms, with the final votes of the week moved to 4:45 p.m. Tuesday. The move also shelved a vote on the impeachment of Defense Secretary Pete Hegseth.

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  1. Semafor.@RepKiley tells @nicholaswu12 he won't caucus with Republicans next year if re-elected to the House as an independent. "The committee seats should belong to the American people, and you shouldn't be denied a seat on committees just because you're an independent member."
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  4. InvestingBYD eyed for Xi’s Trump summit amid US tariff tensions - Bloomberg
  5. StaunovoBillionaire shale pioneer Harold Hamm’s Continental Resources Inc. is set to announce a deal to invest in #Venezuela as the Trump administration pushes US companies to revive the nation’s oil sector, according to a person familiar with the matter. The Oklahoma City-based company plans to make the announcement at the G20 energy ministers summit in Houston. #oott
  6. OpenOutcrierBreaking news — House GOP leaders are CANCELING votes tomorrow and sending the House home tonight until after the midterms No vote on Hegseth impeachment Last votes of the week at 4:45pm today Will move tomorrow votes to tonight -- POLITICO
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  1. ReutersEU's von der Leyen backs European Security Council and 'playbook' against sabotage
  2. MarketsdayMassive bomb shipment back on the table | The Trump administration is preparing a $2.8 billion arms deal to send Israel 40,000 heavy 2,000-pound bombs, including Mk84 and BLU-117 models, unpausing a weapons transfer previously halted by the Biden administration over mass casualty concerns during the conflict in Gaza. Full Report Here 👇 #USPolitics #Israel #DonaldTrump #Defence #MiddleEast
  3. CnbcPentagon CTO says U.S. government shouldn't take stakes in tech giants, questions adding AI regs
  4. BusinessChinese officials are considering BYD for a possible business delegation joining Xi Jinping’s summit with Donald Trump next week in Washington, according to people familiar with the matter
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  6. ForbesRep. Joyce Beatty accused President Donald Trump of having a “tantrum” after learning that a federal judge had sided with her and blocked the Kennedy Center board’s efforts to inscribe the president’s name on the building’s facade. Read more: 📸: Tom Williams/CQ-Roll Call, Inc via Getty Images
  7. JonathanTamariPete Hegseth embodies many traits Donald Trump admires: Swaggering. Combative. Looks good on TV. But his main character energy has made him a lightning rod as the war drags on. Today's AM Washington Edition newsletter for @business + @BGOV
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