Trump-Netanyahu clash points to strain over Lebanon fighting
Axios reported Trump berated Netanyahu by phone as traders watched for signs that the conflict involving Israel, Iran and Hezbollah could ease.
By Daniel Okafor · Business Editor
3 min read
President Donald Trump sharply confronted Israeli Prime Minister Benjamin Netanyahu during a Monday call over Israeli military action in Lebanon, Axios reported. The exchange drew market attention because traders were looking for evidence that the U.S., Israel and Iran might be trying to limit a widening conflict, Fortune reported.
Axios, citing a U.S. official, reported that Trump told Netanyahu: “You’re f---ing crazy. You’d be in prison if it weren’t for me. I’m saving your ass. Everybody hates you now. Everybody hates Israel because of this.” A second person briefed on the call told Axios that Trump was angry and asked Netanyahu what he was doing, using an expletive.
The dispute centered on Israel’s fighting with Iran-backed Hezbollah in Lebanon, according to Axios. Trump wanted Israel and Hezbollah to stop firing, while Iran said it was suspending talks with the U.S. because of continuing Israeli strikes, Bloomberg reported.
Trump publicly gave a more orderly account of the diplomacy. The BBC reported that Trump said Iran and Israel had agreed that shooting would stop. On Truth Social, Trump wrote that he had asked Netanyahu not to carry out a major raid in Beirut and said Netanyahu had turned troops around. Trump also said representatives of Hezbollah’s leaders had agreed to stop shooting at Israel and its soldiers, and that Israel had agreed to stop shooting at them.
Netanyahu described the situation differently, according to the BBC. He said strikes on Beirut would continue if Hezbollah kept attacking Israeli cities and civilians, and he said Israeli forces would not leave southern Lebanon.
CNBC reported that Trump also sounded dismissive about peace talks with Iran, saying he did not care if the talks were over and that the discussions had become “very boring.” Fortune reported that Israel and Hezbollah were still exchanging fire overnight despite Trump’s statements.
Markets looked for signs of de-escalation
Fortune reported that global stocks rose as investors weighed the possibility that the Middle East conflict could ease. S&P 500 futures were down 0.16% after the index rose 0.26% the prior day to a record 7,599.96, while Europe’s Stoxx 600 was up 0.67% in early trading and the U.K.’s FTSE 100 was up 0.31% before lunch.
Asian markets were mixed, according to Fortune. South Korea’s KOSPI rose 0.15%, Japan’s Nikkei 225 fell 0.3%, India’s Nifty 50 gained 0.38% and China’s CSI 300 rose 1.45%. Fortune reported Brent crude at $93 a barrel and Bitcoin at $69,000.
Deutsche Bank’s “World Outlook,” cited by Fortune, assumed that the Strait of Hormuz would reopen later in June. Jim Reid’s team at Deutsche Bank said its baseline expectation was for a U.S.-Iran agreement during the month that would allow shipping through the strait to resume, with Brent crude falling to $86 a barrel in the fourth quarter.
The Financial Times reported that Greek shipping company Dynacom Tankers had moved eight ships through the Strait of Hormuz blockade and was preparing six more to pass through the route. The FT said it did not report how Dynacom was doing so. Founder George Prokopiou told a conference in Athens that Greece has a long history of breaking blockades.
This story draws on original reporting from Fortune.