Trump says US will end ~$4B annual aid to Israel at year-end, citing deal with Netanyahu (Nov 3)
What happened
President Trump said Tuesday morning on Fox & Friends, on Election Day, that the United States will cut off roughly $4 billion in annual aid to Israel at the end of 2026 because 'they don't need it' — calling Israel 'a very thriving country' and its top aid recipient. He claimed he reached an agreement with Israeli Prime Minister Netanyahu months ago, saying Netanyahu himself raised ending the aid. Trump framed it partly as removing a Democratic attack line: 'Why don't we give everybody $4 billion?' Critically, the claim is unconfirmed: Netanyahu's office has not confirmed any year-end cutoff deal (Israeli press reported neither the military nor Treasury knew of it), the existing MOU runs through 2028 with no identified termination mechanism, and Trump conceded 'we'll help Israel if they need it.' Le Monde described the announcement as 'lacking any specifics, largely symbolic.'
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- U.S. defense primes (LMT, RTX, NOC, GD — the $3.8B/year Foreign Military Financing must be spent on U.S. weapons, so aid flows straight to American arms manufacturers); energy/oil (WSJ noted oil prices fell further after the remarks, extending Monday's de-escalation-driven plunge); broader equities via U.S.–Iran/Middle East risk premium — the statement coincided with a day of conflicting Iran signals (Qatari-drafted MOU approved vs. Qeshm Island strikes)