Ceasefire Between Israel and Hamas Expires

Last Saturday marked the end of Phase 1 of the Israel-Hamas ceasefire. According to Axios, “As of that day, all living hostages who were part of the first phase of the ceasefire deal have now been released by Hamas. The bodies of four dead hostages are expected to be returned to Israel on Thursday to conclude the release of all 33 hostages, part of the deal’s first phase.” Phase 1 of the ceasefire agreement also saw Israel release between 1,000-1,700 Palestinian prisoners.

The ceasefire collapsed when Hamas rejected an Israeli-US proposal to extend it through Ramadan and Passover, insisting instead on advancing to Phase 2, which requires full Israeli withdrawal from Gaza and a permanent ceasefire. Both sides claimed breaches by the other. Israel accused Hamas of violations and halted the planned release of 620 Palestinian prisoners on February 22, 2025, and stopped aid flow into Gaza on March 2, 2025. Hamas accused Israel of failing to withdraw from key areas like the Philadelphi Corridor as required under Phase 1.

President Trump warned Hamas in the strongest of terms that he would support additional Israeli strikes unless remaining hostages were released. Secretary of State Marco Rubio is launching an effort to cancel the visas of foreign nationals and students who have supported Hamas or other designated terror groups.

Aftermath of Explosive WH Meeting with Zelensky

“An agreement to end the war is still very, very far away, and no one has started all these steps yet,” Ukrainian President Zelensky told reporters last Sunday, after the collapsed White House meeting on Friday. “The peace that we foresee in the future must be just, honest, and most importantly, sustainable.” The Trump administration paused all military aid to Ukraine on Monday, pausing the sharing of intelligence with Ukraine on Wednesday. On Tuesday, President Trump reported receiving a letter from Zelensky that said, “Regarding the agreement on minerals and security, Ukraine is ready to sign it at any time that is convenient for you.” Friday and Saturday night, Russia launched heavy aerial attacks inside Ukraine.

Tariffs Go Into Effect

25% tariffs on imports from Mexico and Canada kicked in Tuesday. Stocks slumped. After tumbling on Tuesday, the S&P 500 closed at 5,778.15, below the 5,782.76 level on Election Day, losing its post-election gains. Trump also announced an additional 10% tariff on China, for 20% total. China retaliated with new tariffs on American products and controls on U.S. companies. On Thursday, President Trump announced a temporary tariff exemption on automobiles and all Canadian and Mexican goods covered by the North American trade agreement known as USMCA until April 2.

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