AP/Vahid Salemi

President Trump says the U.S. and Iran have agreed to a memorandum of understanding (MOU) to end the ongoing war. The text has not been released — and Trump says it won’t be released until it’s signed in person on Friday — but several media outlets obtained text of the 14-point deal.

Keep in mind: The White House says the reported text “does not reflect the language of the actual MOU.” So, we shall see! And Trump stressed that this Iran deal is not final. 

The Hill’s Colin Meyn broke down the key points of the deal. Here’s what you need to know: 

✅ The Strait of Hormuz will reopen: The U.S. would lift its naval blockade and Iran would remove any obstacles that would prevent ships from passing.  

✅ $300 billion to rebuild Iran: The agreement says the U.S. and its partners will give Iran at least $300 billion for reconstruction. 

✅ Nuclear weapons: Iran has agreed to not produce any nuclear weapons. However, it’s unclear what would happen to its existing uranium. The deal would allow Iran to maintain its “status quo” of its nuclear program. 

✅ Fighting in Lebanon would end: It would end fighting on “all fronts,” including Lebanon. But keep in mind that the fighting in Lebanon has not involved the U.S. — that’s Israel’s doing — so this is sure to anger Israeli Prime Minister Benjamin Netanyahu. 

Timing of the final deal: The final details will be worked out within the next 60 days. Trump even warned that bombing would resume if Iran doesn’t “behave.” 

How will the agreement be finalized?: The final deal will be subject to approval from the United Nations Security Council.  

🔎 Read the full MOU, obtained by CNN 

💬 Follow today’s live blog 

“Conservative pundits and hawkish Iran experts are warning against any agreement that gives up key leverage against the Islamic Republic, or opens access to badly needed funds, without completely giving up its nuclear capacity,” The Hill’s Laura Kelly and Colin Meyn report. 

For example: “It would reportedly allow Iran to immediately restart oil exports free from U.S. trade and banking sanctions, while Gulf states would contribute to a $300 billion reconstruction fund as part of a final deal.” 

Read more: ‘5 reasons Trump allies don’t like his Iran deal’ 

The Washington Post’s Evan Halper spoke with shipping industry officials and maritime experts who say it will take time to resume normal operations through the vital shipping route.  

How so?: “The strait remains littered with mines laid by Iran since the conflict began and is jammed with hundreds of vessels stranded by the war that will take weeks to clear. Shipping firms are also concerned the peace deal could fracture, putting vessels and crew at risk of attack.” What we know: ‘Declaring the Strait of Hormuz open is easy. Restarting shipping traffic is not.’ 

President Trump is holding a press conference to conclude the Group of Seven (G7) summit in France. It was scheduled to start at 10:30 a.m. but he got off to a late start.

💻 Watch it live

Trump kicked it off with a strong statement: "On Sunday, we reached an agreement with Iran that achieves everything we set out to accomplish — everything and much more,” Trump said.

What if negotiations aren’t finalized in 60 days? — More bombing: “It’s a memorandum of understanding. If it doesn’t get done in 60 days, it’s alright. We go back to bombing,” Trump said. “We’re never going to let them have a nuclear weapon.”

President Trump announced he is withholding his Director of National Intelligence (DNI) nominee, Jay Clayton, until the Senate passes one of his priorities: his voter ID bill. 

The Senate Intelligence Committee was expected to hold a confirmation hearing for Clayton. But Trump says that hearing is now postponed.  

Here’s what this means, practically: In the meantime, Trump’s controversial interim pick to be DNI, Bill Pulte, will start on Friday.  

Senate Republicans really don’t want Pulte to be acting DNI: They have been trying to speed up Clayton’s confirmation process to avoid Pulte from taking over. Pulte is a Trump loyalist with no intelligence background. He angered Capitol Hill Republicans by using his role as a top U.S. housing official to refer Trump’s political enemies for criminal prosecution for mortgage fraud.  

What Trump wants to happen: Trump wants his voter ID bill to be tacked onto the U.S. spy powers bill, which has already expired because of Capitol Hill infighting.  

What to know about Trump’s voter ID bill: It’s called the Safeguard American Voter Eligibility (SAVE) America Act. It would require Americans to show proof of citizenship to register to vote and a valid ID to cast a ballot. Trump argues it would help election security and address his claims of widespread voter fraud, though Democrats counter that it infringes on voting rights. 

The House passed the SAVE America Act in February, but it has stalled in the Senate. And as the midterms get closer, it is getting harder and harder to pass legislation.  

“Acting Attorney General Todd Blanche is headed for a rocky Senate confirmation process to take on the role permanently as several Republican senators raise concerns about his credibility and independence from President Trump,” The Hill’s Alexander Bolton reports. 

Senate Republicans have their concerns: “Blanche faced withering criticism from Senate Republicans during a private meeting last month at which more than 20 GOP lawmakers vented their frustrations with the administration and panned the proposal he rolled out to establish a $1.8 billion ‘anti-weaponization’ fund.” 

Blanche has tried to ease their concerns: “Blanche on Tuesday assured GOP senators in at least two private meetings that the fund is dead and he won’t support it if Trump tries to revive the idea in the future.” 

Is that enough?: Ehh, that’s unclear. Blanche “still faces skepticism over the fund and other issues, including an agreement that Trump reached with his administration to shield himself and his family from IRS audits of past tax returns.” 

President Trump is planning a new permanent fence around Lafayette Square, the public park in front of the White House that tourists can access, according to a new Washington Post report. 

Temporary fencing is currently used when the park needs to be shut down for security reasons. This new fence would make it easier for officials to close it when necessary. 

Read more: ‘Trump plan would fence park near White House long used by tourists, protesters’ 

— Ronald Reagan Washington National Airport (DCA) will close to airline traffic for most of July 4.  

The Wall Street Journal: A $40 Million Gold Heist Risks Exposing CIA’s Top-Secret Spy Programs 

The New York Times: Why Waymo’s Driverless Taxis Won’t Be on Your Streets Anytime Soon 

Politico: How a fired FEMA leader got a second chance from Trump 

The Washington Post: Inside the push to keep RFK Jr.’s vaccine agenda alive: The public effort to revamp U.S. vaccine policy has quieted. Behind the scenes is a different story.