Washington, DC

1. US-Iran ceasefire
2. Oil prices ease
3. Ceasefire soothes Hill
4. Rutte meets Trump
5. Sharpton’s 2028 confab
6. OpenAI goes after WME
7. Sinking job hopes

PDB: Trump-backed candidate wins race to replace MTG

Hegseth, Caine hold press conference … Fed releases minutes … Israel says US-Iran ceasefire does not extend to Lebanon

Trump backs off Iran threats

The US and Iran are entering a negotiation phase after President Donald Trump backed off his threat to bomb Iranian civilian infrastructure in favor of a temporary ceasefire. While Trump called Iran’s 10-point plan, put forward through Pakistan mediators, a “workable basis on which to negotiate,” the proposal as Tehran described it includes items that would likely prove unworkable for the US — such as Iranian control of the Strait of Hormuz and sanctions relief. Iran’s foreign minister made clear Iran expects to wield influence over the strait, writing on X that for two weeks “safe passage through the Strait of Hormuz will be possible via coordination with Iran’s Armed Forces.” Vice President JD Vance welcomed the “fragile truce” during a visit to Budapest, AFP reported, urging Iranians to negotiate and saying Trump is “impatient to make progress.” Iran’s Supreme National Security Council said talks would begin Friday in Islamabad.

Oil prices plunge on truce news

Oil and gas prices plummeted in a relief rally following the announcement of a ceasefire between Iran and the US, but experts cautioned that huge fuel supply risks remain. The truce offers the prospect of shipments resuming from Gulf fossil fuel producers; benchmark oil prices fell below $100 a barrel on the news. Yet the lack of a durable peace deal means “volatility [is] likely to persist,” ING economists warned, and in any case production will not immediately rise: Gulf nations suffered damage to energy facilities and markedly reduced operations in recent weeks. Refined products are also likely to be in shortfall, with the world airline body warning that it would take months for jet fuel supplies to recover to prewar levels.

Iran ceasefire a relief for Congress

There’s a rare bipartisan sigh of relief this morning after Trump’s escalating rhetoric about Iran spooked Democrats and Republicans alike. Just before Trump’s announcement, Sen. Lisa Murkowski, R-Alaska, described Trump’s threat on Iranian “civilization” as “an affront to the ideals our nation has sought to uphold and promote around the world.” But now Republicans are hoping the ceasefire holds and diplomacy prevails. “Good time to pray for peace,” said Sen. Mike Lee, R-Utah, a skeptic of foreign entanglements, while Sen. Kevin Cramer, R-N.D., called the reopening of the strait a “pretty good breakthrough.” “I’m glad Trump backed off,” added Senate Minority Leader Chuck Schumer. Keep an eye out for when Democrats launch their next votes on Iran war powers — there are efforts afoot in both the House and Senate to force those votes when Congress returns from recess next week.

— Burgess Everett

Trump-NATO friction hits tipping point

NATO Secretary General Mark Rutte will face the difficult task of smoothing over transatlantic relations when he meets with Trump today. Rutte will sit down with the president as well as Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, a week after Trump threatened to withdraw from the alliance over its lack of contributions to his war in Iran. Trump cannot unilaterally leave NATO by law, but comments he made to The Telegraph last week have fueled European allies’ already significant doubts about the reliability of the US under Trump. “NATO is broken,” a former US ambassador to NATO told Deutsche Welle. Outwardly, the meeting may appear pleasant — earlier this week, Trump called Rutte “a wonderful guy,” even as he dismissed the alliance as a “paper tiger” — but tricky issues abound, from Greenland to Ukraine.

Sharpton’s questions for 2028 hopefuls

Rev. Al Sharpton’s National Action Network conference this week will serve as the year’s first major gathering of potential 2028 Democratic candidates, who’ll appear before an audience of loyal party members who want to hear about the restoration of policies Trump eliminated. “I want to know how they will deal with issues like DEI, which has been a major template of Trump 2.0,” Sharpton told Semafor. “How will they deal with hate crimes? How will they deal with the fact that we’re seeing, in the military, people not promoted based on gender and on race?” In addition to Kamala Harris, joining Sharpton onstage for live interviews will be Pennsylvania Gov. Josh Shapiro; Illinois Gov. JB Pritzker; Maryland Gov. Wes Moore; Kentucky Gov. Andy Beshear; Arizona Sens. Mark Kelly and Ruben Gallego; California Rep. Ro Khanna; and former Transportation Secretary Pete Buttigieg.

— David Weigel

OpenAI goes after WME in Musk feud

OpenAI is expanding its bitter legal dispute with Elon Musk to sweep in Hollywood mogul Ari Emanuel and his talent agency WME, Semafor’s Rachyl Jones reports. OpenAI’s lawyers have instructed the firm to preserve communications about the ChatGPT-maker and explain the work it has done for Musk and his lawyers, according to a letter an OpenAI lawyer sent to WME’s chief legal officer on Tuesday. The letter, seen by Semafor, claims Musk is coordinating attacks on the company alongside Meta and its CEO Mark Zuckerberg and directs WME to disclose whether it is working with Meta or other OpenAI competitors. The relationship between Musk and Emanuel — a longtime investor and associate of the SpaceX founder — is informal, but “Ari is team Elon,” a source close to WME said. OpenAI declined to comment; WME and a Musk representative did not respond to a request for comment.

Adults in US, Canada see dim job hopes

Forty-seven percent of people living in the US and Canada say it’s a good time to find a job in their city or area, down from a high of 70% in 2019 — and the smallest share who have said so in 15 years, according to a new Gallup report on the state of the global workforce. North America is second-to-last among regions when judged on how optimistic residents are about finding employment, besting only the Middle East and North Africa. (That figure is highest in Southeast Asia, at 64%.) Sinking views of employment opportunities across the US and Canada are coinciding with anxiety about inflation and Trump’s trade war, and Iran war shocks have made that economic picture even gloomier. The US’ economic future will become clearer later this week, with the release of data on initial jobless claims, inflation, and GDP.

Blindspot: Lawsuits

Stories that are being largely ignored by either left-leaning or right-leaning outlets, curated with help from our partners at Ground News.

What the Left isn’t reading: The RNC filed a lawsuit over a Virginia law that Republicans argue would allow non-residents to vote in the state. 

What the Right isn’t reading: Two organizations sued the Trump administration over a Justice Department determination declaring the Presidential Records Act unconstitutional.

Gary Peters, Senator, D-Mich.; José Muñoz, CEO, Hyundai; Ariane Gorin, CEO, Expedia Group; Olugbenga Agboola, Founder & CEO, Flutterwave; Vicki Hollub, President & CEO, Occidental Petroleum; and more will join The Future of Mobility session at Semafor World Economy. This session will examine how entire transportation ecosystems from supply chains to charging networks to city infrastructure must evolve to meet rising expectations for speed, sustainability, and accessibility.

April 14, 2026 | Washington, DC | Apply to attend

Beltway Newsletters

Punchbowl News: House Democrats appear to be moving toward impeaching President Trump, with more than 70 saying he should be removed from office for promoting genocide, following his threat to end Iran’s civilization.

Axios: A breakthrough in high-stakes talks with Iran came after new Supreme Leader Mojtaba Khamenei instructed his negotiators to pursue a deal for the first time since the war started, an Israeli official and other sources said.

Playbook: Vice President Vance played a pivotal role in closing the ceasefire deal for Trump, according to a person close to the White House. “He’s been making and fielding tons of calls.”

Congress

• Freshman Sen. Tim Sheehy, R-Mont., is joining the Republican whip team.

Outside the Beltway

• A small Wisconsin town is voting on measures to kneecap a Trump-backed data center project, offering a possible model to other municipalities. — Politico

Campaigns

• Clay Fuller,