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Netanyahu to Visit White House as Israel-Hamas Ceasefire Talks Resume; Rescuers Searching for Dozens Still Missing in Texas Floods; Stocks Fall as Trump Announces 25 Percent Tariffs on Japan, South Korea. Aired 3:30-4p ET

Aired July 07, 2025 - 15:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[15:30:00]

JESSICA DEAN, CNN HOST: President Trump preparing to host Israeli Prime Minister Benjamin Netanyahu at the White House today. The two leaders are meeting tonight amid a renewed push for a ceasefire in Gaza. And just two weeks after the U.S. launched unprecedented military strikes on Iran, President Trump said in confidence negotiations got underway in Qatar, saying in his words there's a good chance Israel and Hamas could reach a ceasefire this week.

CNN's political and global affairs analyst, Barak Ravid, is joining us now. He's also a global affairs correspondent for Axios. Barack, thanks so much for being here with us.

I think the first question on a lot of people's mind right now is, is this deal between Israel and Hamas, which has proven so elusive, really as close as President Trump believes it is?

BARAK RAVID, CNN POLITICAL AND GLOBAL AFFAIRS ANALYST: Hi Jessica. Good afternoon. I think it is closer than it was a week ago or two weeks ago.

And definitely the fact that Trump is pushing very hard for this deal, both the Israelis and Hamas through the Egyptian and Qatari mediators, is bringing this deal closer. Negotiators have been meeting in Doha in the last 48 hours. I hear from people in Doha that there's some moderate progress, but I think both parties will need another few days for talks.

I think the most interesting thing is the fact that White House envoy Steve Witkoff is going to Doha. Witkoff told several people in the last few days that he's not going to travel and join the talks unless he feels with quite a high degree of confidence that there could be a deal. So the fact that he decided to go, I think, tells you a lot.

DEAN: Yes, it feels like a very important context there. And I know one of the hang-ups in this deal is what a post-war Gaza would look like, even who would continue to control Gaza during a ceasefire, a permanent ceasefire.

How do they approach that? Is there any movement on either side?

RAVID: Well, that's the main issue that President Trump will discuss with Prime Minister Netanyahu in their dinner tonight. Trump wants to get an idea from Netanyahu where he is on how things will look in Gaza when the war ends. Because Trump doesn't want to go into the 60-day ceasefire, and then after 60 days have no idea how to end the war, and then the war resumes.

[15:35:00]

He wants to use those 60 days for talks between Israel and Hamas on the end state of this war. And the first step towards that is to use those 60 days for talks between Israel and Hamas on the end state of this war. And the first step towards that is to get an understanding between the U.S. and Israel on how a day-after plan could look like.

DEAN: Yes, and look, the timing of this is obviously very important in the sense that this is going to be Netanyahu's first visit to the White House since Israel and the U.S. came together to dismantle Iran's nuclear capabilities with those strikes. The President has said that the strikes could lead to more countries joining the Abraham Accords. Netanyahu has alluded to that as well.

How much of that, the Abraham Accords, expanding these relationships in the Middle East, play into the conversations that the two will be having today and for the rest of the week?

RAVID: It's definitely something that both Trump and Netanyahu want to see. But it is clear, I think, to everybody that the first step is ending the war in Gaza. No country will join the Abraham Accords before the war in Gaza ends.

When it comes to Syria and Lebanon, I think at the moment nobody is talking about them joining the Abraham Accords in the immediate term. We can talk about some sort of security arrangements, security agreements, non-aggression agreements, but not a full peace agreement and normalization. But I think that's definitely going to be one of the issues Trump and Netanyahu are going to discuss today.

DEAN: And then just domestically for Netanyahu, help people understand, give them the context around what he's facing back home, as he's here, this backdrop in Israel, as he's here in the U.S. talking to Trump about potentially bringing this war to an end.

RAVID: Yes, Netanyahu is still, when you look at the polls, Netanyahu's situation is a bit better, but it did not move the needle. The war with Iran and other issues did not really move the needle to a place where, if elections were held today, Netanyahu would have won. So he's still in a big problem in the polls.

And one of the things that I think, I'm not sure if he thinks that at the moment, but a lot of his advisors are telling him, that if the war in Gaza ends and the hostages come back home, this is an issue that 75 percent of Israelis want. So if Netanyahu does it, there's quite a lot of chance that it will give him a pretty good boost domestically.

DEAN: All right, Barak Ravid, always good to see you. And this time from the White House there, thank you so much. We appreciate it.

RAVID: Thank you.

DEAN: Coming up, more on our breaking news coverage of the devastating floods that hit central Texas. We know now at least 94 people have been killed in those floods. Rescuers still searching for dozens more who are still missing.

Stay with us for an update when we come back.

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(COMMERCIAL BREAK)

BORIS SANCHEZ, CNN HOST: We're back with our breaking news from Kerrville, Texas. Right now, urgent search and rescue efforts are underway in the central part of the Lone Star State. Dozens of people are still missing after devastating flooding.

We want to take you live to hard-hit Center Point, Texas. That's where we find CNN's Isabel Rosales, and that's where first responders are actually searching right now. Isabel, take us through what you're seeing there.

ISABEL ROSALES, CNN CORRESPONDENT: Boris, I've seen an incredible show of partnership between first responders and volunteers. And we heard over in Kerr County in the Hunt area, hey, no volunteers here. We're organized. We want just the pros. We got it.

But here at Center Point, they are welcoming volunteers who have a military background, who are former cops, who have an understanding of how to follow directions.

And we're seeing this partnership where right now on the ground, we have seen volunteers bringing in heavy machinery like this to clear the debris. And I want you to hear from one Marine who came out here to volunteer what he has seen out here in the hours that he's been looking for the missing.

(BEGIN VIDEO CLIP)

MICHAEL GUYER, VOLUNTEER: It's really just the effort to try to just find closure for the families and the victims. Even if it means, like, just finding the remains, that's more than enough for me to kind of just give satisfaction that I did a job well done. It's very humbling just because all we're finding right now is just belongings and just debris after debris. It's just exhausting.

So, like, this was a teddy bear that they found in some of the brush pile. And obviously, it looks like just it belonged to some kid.

We also had, like, one of these little -- I just remember this because it's something that I used to play with when I was little. And just seeing that kind of like, it just gives you an eerie feeling.

Like, you found kids' belongings. You found clothing that probably was ripped up as people got swept away.

(END VIDEO CLIP)

ROSALES: And we have video showing a police task force out on the waters in these rafts. They are combing through the banks here of the Guadalupe River, which we know runs for miles and miles and miles. This is a meticulous process.

We also have video of Texas A&M task force with a cadaver dog named Finn clearing up under bridges to make sure that they're not missing anyone and to clear the area before they give construction crews and volunteers a thumb up that you can clear the debris and keep moving up toward Kerrville and make sure that they're not missing anyone -- Boris.

SANCHEZ: Isabel Rosales, thank you so much for bringing us that update from Center Point. The family of Renee Smajstrla say that they are devastated by their loss. Renee was among the campers at Camp Mystic who went missing during the flooding. Among dozens there who were lost, Renee was just eight years old.

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We'll be right back. Stay with us.

(COMMERCIAL BREAK)

DEAN: Now, just minutes away from the closing bell on Wall Street, you see their stocks dropping today as President Trump ratcheted up the pressure on a growing list of America's key trading partners, including Japan and South Korea. Both nations could face a 25 percent tariff come August 1st.

On Truth Social today, the president also posted letters like this one to the leaders of Malaysia, Kazakhstan, South Africa, Myanmar and Laos, informing them of new tariff rates as high as 40 percent. Those letters started going out shortly after noon today.

Now, Wednesday was supposed to be the deadline day for all the trade deals. It's now been shifted to August 1st.

Let's bring in former Trump economic advisor Stephen Moore to talk more about this. Stephen, thanks so much for being here with us this afternoon to sort through some of this.

[15:50:00]

We now know that the president and his administration are shifting this deadline to August 1st. Do you read that as more of a buffer time for them to try and get more deals, more frameworks put together?

STEPHEN MOORE, FORMER TRUMP ECONOMIC ADVISER: Yes, I do, Jessica. And, you know, it's interesting because this whole debate started back in, I guess, early March or late February. And, look, the markets never like these discussions about tariffs because the financial markets and businesses don't like tariffs too much.

But it is interesting that since about the middle of April, Trump has been able to rack off several victories with countries like the UK and others. And so now he's basically, you know, I think, shot at the bow at two of our major trading partners, Korea and Japan, and saying, get a deal done, get at the table, let's get this done, or else you're going to face these pretty punitive tariffs.

DEAN: And at this point, you noted some of the deals they've gotten done, but there aren't a ton at this moment during this 90-day pause. The Treasury Secretary, Scott Bessent, said this morning he does expect a few more in the next 48 hours. Do you think that is realistic for us to start seeing more of these imminently?

MOORE: Look, I think it's almost like a game of musical chairs where, you know, remember that game when you played when you were a kid and you're walking around and there's one chair too few? And no country wants to be the nation that's left behind and doesn't get a deal cut. And Trump, I think, strategically has gone to these countries and saying, cut a deal now, you'll get the best deal possible.

Remember, with a lot of these countries like Japan and Korea, it's extremely important for their economies to be able to trade with the United States. It's a major, major part of their economy. It's a bit of a game of chicken, you know? Who's going to blink first?

And Trump is basically betting that these countries have more to lose. And I actually think that you will see trade deals, I don't know if the next 48 hours, but I do think you're going to see them in the next couple of weeks.

And this will be to the benefit of the United States because these other countries will have to lower their tariffs, which are in some cases punitive on American agriculture, our dairy products, our automobiles, our manufactured products. So we could come out of this ahead.

DEAN: And you did mention, and we're looking at the numbers right now while you and I are talking, that the markets don't love when this gets pushed to the forefront. They are down today amid this uncertainty.

MOORE: Right.

DEAN: Does it -- do you think this could be a repeat of what we saw in the spring?

Do you think the administration should be worried, is worried about that?

MOORE: Well, to replay what happened, because remember by mid-April the stock market was way down, the economy was doing poorly. And then all of a sudden you got some of these trade deals and all of a sudden things really improved. I mean, the difference between the economy in April and today is really profound.

So yes, I do think if Trump is able to pull off some of these big trade deals, it's going to be, you'll see a big bounce in the market. But remember, the country that matters the most in these trade negotiations is China. And because China is, you know, our biggest adversary and our biggest -- the second biggest economy in the world.

So that's the one that really counts the most. And I don't -- I have to say, I don't know where things stand with that. The president says he has a deal on paper, but I haven't seen anything signed yet.

DEAN: Yes, and I am curious, have you spoken to the president about any of this recently?

MOORE: Well, not in the last few months. The president knows I'm not a huge fan of the tariffs, but I do like when he gets these trade deals done because I really believe if Trump can pull this off, we could -- because I'm a free trade guy, I think we could have freer and fairer trade with America getting a better deal from some of these countries and that would mean more jobs here. So who could oppose that?

DEAN: All right, Stephen Moore, thanks for your time this afternoon. We sure do appreciate it.

MOORE: Thank you.

DEAN: At least 94 people have been killed in devastating floods that happened in Central Texas. We're going to talk about how rescuers are racing against the clock right now to find the dozens of people still missing. We'll be right back.

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(COMMERCIAL BREAK)

SANCHEZ: Breaking news to CNN as we come to you live from Kerrville, Texas, the death toll in the Lone Star State has just climbed yet again. Officials confirming at least 95 people have been killed as a result of these floods that came in now three days ago. Officials are still in the process of conducting a search and rescue operation, still looking for any sign of life, racing against the clock.

Now 72-plus hours after a wall of water came through the Guadalupe River on the banks of which we're standing right now, overflowing into neighborhoods, toppling structures, moving cars, moving wildlife and even people, and we are seeing the effects of it now.

By CNN's count, nearly 30 people still remain unaccounted for, including 10 campers and one counselor still missing from Camp Mystic, that all-girls camp that was just in the path of this enormous wall of water. We're hearing stories from Camp Mystic about bravery camp counselors that helped young people get out to safety, as well as tragic stories, girls as young as eight years old who were part of this all-girls camp who were swept away in floodwaters and later found by officials.

We understand that flood watch remains in effect in the area until 8 p.m. Eastern tonight. There is serious concern that weather conditions present the possibility of additional rain coming into this area, perhaps not quite as much as we saw over the weekend, where months' worth of rain fell in a matter of hours. But nevertheless, as crews try to conduct their work, as they try to find anyone who may still be out there, and they try to perhaps bring solace and comfort to families with missing loved ones, it makes their work more difficult because conditions are already tough.

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We know that the White House is planning for President Trump to visit later this week, perhaps by Friday, though it seems like a tentative plan right now. We're going to keep chasing to confirm that news. We do want to continue to bring you the heartbreaking stories of family and friends lost and missing here in Texas.

Among the victims of this tragedy, Anna Margaret Bellows from Houston. You can see this young girl smiling with her Camp Mystic sweatshirt on, holding on to a stuffed animal. Anna Margaret Bellows was just 8 years old. She is now part of this group of girls that were lost at this camp. Our hearts, of course, go out to their families.

Our breaking news coverage continues. "THE ARENA" with Kasie Hunt starts right now.

END