Key points
- US and China slash tariffs by 115%
- Trump: EU 'in many way nastier than China'
- Wall Street surges on open after tariff war climbdown
- Trump heading on Middle East tour - here's what we can expect
- Mark Stone analysis: This week is truly consequential for Trump 2.0
- Trump defends gift from Qatar
- The World with Richard Engel and Yalda Hakim:Tap hereto listen on your podcast app
That's it for now
We're pausing our coverage.
Donald Trump is now in the air on his way to Saudi Arabia.
We will be back with more coverage once the US president has arrived in Riyadh.
These are the main developments today:
- The US and China have agreed to slash tariffs on each other as they seek to end their trade war;
- Trump said he was thinking of attending peace talks between Russia and Ukraine in Istanbul if he thinks "things can happen";
- Asked about Qatar's offer to give him a free plane, he said he would be a "stupid person" to refuse;
- Hamas has asked Trump and his ministers to look for ways to end the war in Gaza;
- Trump said the EU is in "many ways nastier than China";
- And he signed an executive order which could cut US drug prices by between 59% and 90%.
Trump takes off for Middle East
Donald Trump has taken off on his tour of the Middle East.
He flew on Air Force One from Joint Base Andrews in Maryland.
The US president is due to arrive in Riyadh, Saudi Arabia, at 7.45am UK time tomorrow morning.
Later in the day he will take part in a Saudi state dinner.
Hamas urges Trump administration to pursue efforts to end war in Gaza
Hamas has asked President Trump and his ministers to look for ways to end the war in Gaza.
Edan Alexander - an Israeli soldier who holds American citizenship - has been freed this afternoon.
Hamas said it was releasing Alexander as a goodwill gesture to try to revive talks on ending the war.
The group said it had "demonstrated positivity and high flexibility".
Dow Jones surges after US and China cut tariffs - but did Trump 'back off'?
The Dow Jones stock market index was up by more than 950 points at 4.30pm UK time after the US and China agreed to dramatically cut reciprocal tariffs - by115%.
Donald Trump said he was beginning a "total reset" with Beijing after discussions in Geneva.
"The talks were very friendly and our relationship is very good," he said.
"We're not looking to hurt China. China has been hurt very badly."
US correspondent James Matthewssaid critics might think Trump was "backing off from a fight" with China and was "losing and losing quickly".
Matthews pointed out that Trump said the Chinese had agreed to a more open trading arrangement.
The US leader has said he will speak to President Xi Jinping at the end of the week.
Trump news conference ends - with US leader now heading to Middle East
Donald Trump's news conference at the White House has come to an end.
He will now head to Joint Base Andrews in Maryland before flying to Saudi Arabia for his major Middle East tour.
The US leader is expected to arrive in Riyadh at around 7.45am tomorrow.
Netanyahu spoke to Trump today, Israel says
Benjamin Netanyahu has spoken to Donald Trump today after meeting the US president's Middle East envoy and ambassador to Israel, the Israeli prime minister's office said in a statement.
Netanyahu has thanked Trump for his help with the expectedrelease of Israeli-American hostage Edan Alexander, who has beenheld by Hamas in Gaza, the statement added.
It also said Trump hadreiterated his call for close cooperation with Netanyahu.
'I could be a stupid person and say we don't want a free plane'
The US leader is asked about Qatar's offer to give him a free plane.
In response, he says he has "a lot of respect for the leadership there".
"I could be a stupid person and say 'we don't want a free plane'. But we give free things out and we will take one too," he says.
"It could help us out because we have a 40-year-old aircraft."
He explains the money that is spent of the maintenance of Air Force One spend is "astronomical".
"I think it is a great gesture from Qatar - I appreciate it very much," he adds.
"I would never be one to turn down that kind of offer. I could be a stupid person and say we don't want a free plane."
We reported earlier that Qatar had offered a luxury Boeing 747-8 jumbo jet to Trump.
Watch as US correspondent Mark Stone explains row over plane:
Trump believes Russia will agree ceasefire and he is 'thinking' of attending peace talks in Istanbul
Donald Trump says he could go to Istanbul, which is where a potential meeting between Volodymyr Zelenskyy and Vladimir Putin could take place on Thursday.
"I was thinking about flying over there," he says.
"There is a possibility if I think things can happen.
"We've got to get it done."
He says the US administration is "working very hard to see if it can end the bloodbath".
He also said he believes Russia will agree to a 30-day ceasefire in Ukraine.
'EU in many ways nastier than China'
Taking a swipe at the EU, Donald Trump says the US has been "subsidising socialist healthcare systems" for years.
"In Germany and all parts of the EU," he adds.
"They were the toughest of all. They were nasty. I see that with trade - the EU is in many way nastier than China."
He says the US has "all the cards" now when it comes to trade.
"They don't take our products," he adds.
"So they will have to pay more for healthcare and we will pay less."
Trump signs executive order cutting drug prices by 'up to 90%'
The US leader now moves onto the executive order he will be signing, which will see US drug prices come down between 59% to 90%.
"I don't think there has been anything signed like this," he quips.
He says the US "will no longer subsidise the healthcare of other countries".
"We will bring fairness to America," he adds.
