America’s Anniversary Is About More Than Trump. What Have We Actually Agreed to with Iran? Plus. . .

By The Free Press | Created at 2026-06-16 10:31:30 | Updated at 2026-06-16 11:31:17 1 hour ago

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It’s Tuesday, June 16. This is The Front Page, your daily window into the world of The Free Press—and our take on the world at large. Today: Where does all the stolen art go? Elliot Cohen on School of War. What Spencer Pratt got right. Plus: Mr. President, publish the details of your Iran agreement. All that and much more.

But first: ICYMI, Douglas Murray is (re)joining The Free Press. Check out the details, including his note to subscribers, here.

Now to the news, starting with what both sides are getting wrong about America’s 250th.

On Monday morning, evidently still fired up after a raucous 80th birthday spent watching UFC fights on the White House lawn, President Donald Trump announced on Truth Social that he would be celebrating America’s 250th anniversary with “the most spectacular TRUMP RALLY of them all.”

It is the latest example of the split-screen visions of the republic as it approaches the semiquincentennial. On one side, there is a Trumpian spectacle that often conflates celebration of the United States with celebration of the man in the White House. On the other side are those who find celebration of the country close to impossible given who is in the White House. The New Yorker summed up this sentiment in a recent story with the headline “How Problematic Is Patriotism?”

In our editorial today, we say both sides have it wrong. You can ignore the self-aggrandizement and self-flagellation. Read the full column to find out how:

As for Sunday’s UFC fight that was part of the president’s Freedom 250 celebrations? We sent River Page to take in the spectacle. Among the fans he spoke to was Antonio Sanchez, who mused: “This is like, the Founding Fathers’ house and they’ve got a fuckin’ Monster-sponsored octagon in the middle of the lawn. That is retarded. But also, it’s cool. People are gonna remember this fucking shit.”

Very true, Antonio. Read River’s full dispatch:

—Oliver Wiseman

From the pageantry of power to the substance of governing: Before Sunday’s fight, President Trump announced a new agreement with Iran that would end the fighting and reopen the Strait of Hormuz. On Monday, Washington was abuzz with debate over the merits of the memorandum of understanding that officials said had been signed electronically by Trump and Vice President J.D. Vance. When Republicans complained that the deal looked like capitulation, officials vented about what they say is misinformation about the agreement. In our second editorial (what can we say, the editors ate their Wheaties yesterday), we propose a simple solution: Publish the deal.

And for more analysis of the war, the deal, and what’s next, tune in to the latest episode of School of War. Today, Aaron McLean sits down with Eliot Cohen, co-host of the Shield of the Republic podcast, to answer the most pressing questions about the conflict.

The Art World Has a Theft Problem

The art world has a problem: There has been an increase in the number of art thieves. In the midst of the Sudanese civil war, troops began looting the country’s most precious museums. Iraq, Syria, Afghanistan, Ukraine, and Ethiopia also are places where war and breakdowns in civil order created opportunities for thieves. What props up this underground economy, and how do we stop the seizure of history’s greatest artifacts? Matthew Campbell went deep into the world of art thievery to find out.

Don’t Dismiss Spencer Pratt’s Loss

For a few months, Spencer Pratt was inescapable. From his grassroots support to his viral campaign ads, it seemed like the former reality TV star had a real shot at becoming Los Angeles’s next mayor. That dream came crashing down when he finished third in the nonpartisan primary earlier this month. But don’t dismiss his campaign as a flash in the pan, writes Sam Quinones. Sam has reported exhaustively on LA’s twin crises of addiction and homelessness. He gives Pratt credit for daring to expose the tragic truth behind LA’s homeless problem, and says his blunt talk may still help the city for years to come.

America Can’t Build for War Anymore

The U.S. war with Iran seems to be over, at least for now, but the weakness it exposed about our military arsenal runs far deeper. In World War II, America dominated military manufacturing. Today, Arthur Herman writes that our weakened defense industrial base is a serious problem. “We don’t have decades to get things right,” Herman writes. “Either we correct the problem quickly—within three or four years—or we will surrender our superpower status.”

With America’s 250th birthday just a few weeks away, we’re honoring some of the Great Americans who shaped our country. Today, Ann Bauer remembers L. Frank Baum, who wrote The Wonderful Wizard of Oz. Baum’s story started as a popular 1900 children’s book—and then grew into a franchise that has raked in billions of dollars and been adapted in hundreds of forms. Read her piece to find out how this “sickly, studious boy” became one of America’s biggest cultural forces, penning a story that will outlive him for centuries to come.

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THE NEWS
The New York Stock Exchange (NYSE) on Tuesday, May 26, 2026. (Michael Nagle/Bloomberg via Getty Images)
  • Oil prices fell and the S&P 500 jumped 1.7 percent on Monday after President Trump and Iran struck a peace deal. The Strait of Hormuz is set to reopen Friday, reviving one of the world’s biggest passageways for oil and liquefied natural gas.

  • Russia launched a new round of missiles and drones into Ukraine on Monday. The attack damaged at least 14 residential buildings and caused the Dormition Cathedral, one of the country’s oldest and holiest sites, to burn down.

  • British prime minister Keir Starmer announced a new plan that would ban social media for all children under age 16. Starmer framed the policy as an attempt to protect young minds, but some critics fear it will add to the UK’s crackdown on free speech.

  • President Trump arrived in France on Monday for this week’s G7 summit. The meeting of world leaders comes at a crucial geopolitical moment, with Ukraine continuing to suffer major blows and the terms of the final U.S.-Iran deal uncertain.

  • California governor Gavin Newsom said Monday that the Trump administration is investigating him and his wife. Newsom accused the president of political prosecution, saying Trump targeted him because Newsom is considering a presidential run in 2028.

  • Fox agreed to acquire the streaming giant Roku on Monday in a deal worth $22 billion. The agreement marks a major consolidation of live television programming with streaming platforms, as Fox looks for new ways to attract viewers.

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