The Issues
1. Key Takeaways from Trump’s Call with Putin
2. How to Save Ukraine
3. US Airstrikes on Iran-Backed Houthi Rebels in Yemen
4. Ongoing Tariff Negotiations
Key Takeaways from Trump’s Call with Putin
Recognizing the need to offer something to stay in President Donald Trump’s good graces, President Vladimir Putin delivered only the bare minimum. The ceasefire agreement restricts long-range strikes on energy infrastructure but does not prohibit attacks on other critical targets, such as airfields, supply depots, and training centers. With warmer weather approaching in Ukraine, Putin likely would have scaled back strikes on energy infrastructure regardless—consistent with Russia’s patterns in previous years. A 30-day pause on energy-infrastructure attacks gives the perception Putin is pursuing peace but, in reality, only buys Russia more time.
As Washington knows from US officials’ meetings with the Ukrainians, Kyiv is particularly interested in a ceasefire for long-range strikes and operations in the Black Sea. It was the American delegation that pushed Ukraine to extend it to the front lines, which Kyiv ultimately agreed to. The fact that Russia only accepted limitations on long-range strikes against energy targets reinforces that Moscow—not Kyiv—remains the primary obstacle to peace.
At the very least, a ceasefire focused on long-range strikes allows the US intelligence community to monitor compliance more effectively. The possibility of further discussions on a maritime Black Sea ceasefire could serve as a confidence-building measure, bringing Ukrainian, American, Russian, and likely Turkish officials—at least at the junior level—into direct talks on the same issue.
As with all such agreements, the devil is in the details. Did Putin convince Trump to halt military aid to Ukraine? That remains unclear. We’ll have to wait and see, but on balance, this agreement appears to favor Ukraine more than Russia, since Kyiv was willing to make broader commitments while Moscow was not.
How to Save Ukraine
The path forward for cooperation between the United States and Europe on Ukrainian and continental security demands pragmatic cooperation and innovative financial mechanisms. Three ideas can help to overcome the current impasse and resume support for Ukraine:
1. Establish a European fund to purchase US weapons and equipment for Ukraine.
2. Continue Ukraine’s transition away from a Soviet-vintage defense industrial base toward one that reflects Western standards.
3. Strengthen Ukraine’s ties to NATO—even if membership in the alliance is not in the cards for the foreseeable future.
US Airstrikes on Iran-Backed Houthi Rebels in Yemen
Over the weekend, the US launched a new wave of airstrikes against Houthi targets in Yemen, responding to the Iran-backed group’s continued attacks on international shipping. According to Houthi-run Al Masirah TV, the strikes hit locations in Hodeidah and Al Jawf on Monday, marking an expansion of the most significant US military operation in the Middle East since President Donald Trump’s return to office.
The primary goal of these airstrikes is clear: to degrade the Houthis’ ability to threaten Red Sea shipping lanes and deter further escalation. The group has been targeting commercial and military vessels for months, attempting to disrupt global trade and assert dominance in a strategically vital region.
By striking key military infrastructure in Hodeidah, a crucial port city, and Al Jawf, a region known for its weapons storage and smuggling routes, the US aims to destroy missile and drone launch sites used to target Red Sea shipping, disrupt supply chains feeding Iranian weaponry to the Houthis, and reassert US naval dominance in a region where American forces have increasingly been put on the defensive.
While official damage assessments are still emerging, early indications suggest the strikes hit their targets, mainly weapons stockpiles and military facilities.
However, the effectiveness of these operations depends on two key factors: First, did they cripple Houthi capabilities? The group has proven resilient, especially if Iran continues to funnel weapons and intelligence support. Second, will they deter further attacks? If history is any guide, deterrence only works if the US follows through with sustained military and economic pressure.
Ongoing Tariff Negotiations
Trump’s strategy is to use all tools to “rebalance” global trade after decades of negative US results due in some part to an overvalued dollar, widespread subsidies, and trade preferences in China but also in Europe and East Asia.
While tariff and countervailing duty actions against mercantilist China are largely justified, Trump’s rhetoric and selected tariff actions against erstwhile friends and allies risk alienating those allies, leading to countermeasures that damage US exporters and undermine international support for pushing back against Chinese mercantilism.
To speak with these or other Hudson experts, contact Allie Carroll at acarroll@hudson.org.