Lionel Messi and Inter Miami feted by President Donald Trump at the White House for MLS Cup title

WASHINGTON (AP) — Lionel Messi bestowed President Donald Trump with a bejeweled pink soccer ball during a White House ceremony honoring Inter Miami for winning last year's MLS Cup.

Miami beat the Vancouver Whitecaps in December for the Major League Soccer title, and the Argentinian superstar was named the league's MVP for the second consecutive season.

“Leo, you came in and you won, and that's something very hard to do, very, very unusual and frankly, there's a lot more pressure put on you than anyone would know, because you sort of expected to win, but almost nobody wins,” Trump said.

Messi, who entered the ceremony alongside Trump, joined Inter Miami in mid-2023 to great fanfare. He did not speak during the event, which turned political at times with Trump addressing the war with Iran, the situation in Venezuela, a possible future announcement regarding Cuba and even tariffs.

Addressing Messi — who famously avoids speaking out on politics — the president stuck mostly to sports.

“You could have gone anywhere in the world. You could have chosen any team in the world, and you chose to go to Miami. I don’t blame you. The weather’s extremely good. Do you go to Doral? You go to Doral and play golf?” Trump said, referencing a golf course he owns. “I just want to thank you for bringing us all on this ride, because you are hot and talented and a great person.”

Among the other Inter Miami stars in attendance were Luis Suárez, Tadeo Allende and Rodrigo De Paul. MLS Commissioner Don Garber sat next to Andrew Giuliani, head of the White House's World Cup task force. Also attending were retired baseball star Alex Rodriguez and members of Trump's cabinet.

Inter Miami was the first MLS team to be invited to the White House during Trump’s two terms in office.

Messi, an eight-time Ballon d'Or winner, led Argentina to the World Cup title in 2022. The 38-year-old is expected to play again for Argentina this summer when the tournament is hosted by the United States, Canada and Mexico.

Soccer's global showcase has been clouded by recent events, including the war with Iran and turmoil in Mexico following the death of cartel leader Nemesio Oseguera in a military operation.

Iran is part of the World Cup field of 48 teams and is set to play a pair of games at SoFi Stadium in Southern California and another in Seattle during the group stage.

Trump opened the ceremony with comments about the conflict with Iran but did not mention the World Cup.

Following military action by the United States and Israel last week, Iran’s top soccer official, Mehdi Taj, said the country could not look to playing in the World Cup with “hope.”

“I really don’t care” if Iran participates, Trump told Politico this week. “I think Iran is a very badly defeated country. They’re running on fumes.”

It's not clear what would happen if Iran pulled out of the World Cup. No team that has qualified for the tournament has withdrawn in the past 75 years.

The World Cup kicks off on June 11 when Mexico plays South Africa in Mexico City.

During the ceremony, Trump spoke about how he saw Brazilian great Pele play with the New York Cosmos. He looked to Messi: “You may be better than Pele,” then asked the crowd, “Who’s better?”

Inter Miami owner Jorge Mas said his team has “changed the culture of football in the United States of America forever.”

“We can play with the big boys, we can play with the heavyweights. Our league can be one of the top leagues in the world,” Mas said. “And it is this ability to dream, to persevere, to have no obstacles ahead of us, that we will continue to be successful. And hopefully, Mr. President, this is not our only visit here celebrating an MLS Cup championship.”

It was the first White House visit for Messi. He was invited by the Biden administration to be presented with the Presidential Medal of Freedom in January 2025 but could not attend because of a scheduling conflict.

Inter Miami will remain in the area to play D.C. United on Saturday.

AP soccer: https://apnews.com/hub/soccer

President Donald Trump receives a soccer ball trophy from Lionel Messi during an event to honor the 2025 Major League Soccer champions Inter Miami in the East Room of the White House, Thursday, March 5, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)

Lionel Messi, left, and teammates listen to President Donald Trump speak during an event to honor the 2025 Major League Soccer champions Inter Miami in the East Room of the White House, Thursday, March 5, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)

FILE - Argentina's Lionel Messi hoists the winning team replica of the FIFA World Cup trophy during a celebration ceremony for local fans after an international friendly soccer match against Panama at the Monumental stadium in Buenos Aires, Argentina, March 23, 2023. (AP Photo/Gustavo Garello, file)

Lionel Messi listens to President Donald Trump speak during an event to honor the 2025 Major League Soccer champions Inter Miami in the East Room of the White House, Thursday, March 5, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)

President Donald Trump shakes hands with Lionel Messi during an event to honor the 2025 Major League Soccer champions Inter Miami in the East Room of the White House, Thursday, March 5, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)

WASHINGTON (AP) — The world is getting more uptight about lending money to President Donald Trump’s government — causing interest rates to climb in ways that are worsening affordability pressures, hampering economic growth and creating a new risk for Republicans in November’s midterm elections.

The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the U.S. government. Interest rates on a 10-year U.S. Treasury note are topping 4.44%, up from 3.95% before the war started at the end of February. Average mortgage rates have climbed to their highest levels in nine months, while auto sales are slumping.

The challenge is global in scale, as interest rates have risen for multiple countries as the world has been adjusting to the prospect of higher inflation, mounting questions about the sustainability of government debt and a dramatic surge in investment in artificial intelligence.

Trump has tried to assure Americans that he has a plan to trim the roughly $1.8 trillion annual budget deficit. In the past, he has pointed to revenue from tariffs, payments from foreigners for his “Gold Card” visa, spending cuts made by the Department of Government Efficiency, and faster economic growth. Last week, he said the fraud task force led by Vice President JD Vance would be the key to unlocking massive savings.

“If he does really great, we’ll have a balanced budget without having to do anything,” Trump said.

Economists say Trump’s strategies to meaningfully curb the deficit are unlikely to deliver the promised results.

The cost of servicing the national debt has tripled since 2021 to more than $1 trillion annually, said Jessica Riedl, a budget and tax fellow at the Brookings Institution.

“President Trump signed a tax cut bill that will likely add $5 trillion to 10-year deficits — and tariffs are offsetting only a small fraction of those costs,” she said. “Budget deficits are still projected to soar past $4 trillion annually within a decade under current policies.”

Deficits are expected to grow over the next decade as the costs of Social Security and Medicare outstrip tax revenues.

The 10-year U.S. Treasury rate climbed as high as 4.67% in the middle of May and has since eased as negotiations over the Iran ceasefire continued — just as rates initially climbed in 2025 because of Trump's “Liberation Day” tariffs and then began to decline once Trump backed off the most extreme increases.

When Kent Smetters, faculty director of the Penn Wharton Budget Model, broke down the math tied to rising 30-year Treasury yields, he estimated that 60% of the increase had come from the expectation that America will continue its outsized borrowing and the other 40% was tied to the inflation driven by the Iran war and Trump’s tariffs.

Glenn Hubbard, a former chairman of the White House Council of Economic Advisers during the George W. Bush administration, worries that the U.S. may no longer have the same borrowing capacity as before to effectively combat an economic crisis, such as the 2008 crash or the coronavirus pandemic.

“I don’t think we have the space that we had in 2008 or 2020 to deal with it,” said Hubbard, now a professor at Columbia University's Business School. “Washington doesn’t seem to be full of ideas — good or bad — to solve it.”

Higher interest rates are giving Democratic candidates in the races to determine control of the House and Senate another line of attack at a time when voters are concerned about high costs for food and gasoline.

In Colorado’s fifth congressional district, Democrat Jessica Killin is leaning into the message that the persistent deficits and higher interest rates make it harder to buy or renovate a home, afford a new car or manage credit card debt.

“Things are already expensive,” said Killin, an Army veteran who was a top aide to Doug Emhoff, the former second gentleman. “We can already talk about gas, but the cost of borrowing only makes that worse.”

Joe Reagan, an Army veteran also seeking the Democratic nomination, said in an email that he is talking “a lot about fiscal stewardship” in his campaign. “Every dollar spent paying interest is a dollar that isn’t being invested in infrastructure, education, veterans’ services, or economic growth," he said.

They are challenging Republican Rep. Jeff Crank in a district that their party views as a potential pickup. Killin said the deficit is an example of how “Trump says one thing and does the opposite.”

In his March 2025 address to Congress, Trump declared that “in the near future, I want to do what has not been done in 24 years: balance the federal budget. We’re going to balance it.”

Crank, the Republican incumbent, did not reply to requests for comment.

The administration maintains that it is going to steadily reduce budget deficits. As a share of the overall economy, the deficit last year was lower than it was in 2024, though that drop depended in part on tariff revenues that are subject to refunds after the Supreme Court ruled them to be illegal.

Treasury Secretary Scott Bessent last week cited a report showing that there was as much as $500 billion annually in fraudulent government spending that could be eliminated, “so that would reduce the deficit substantially.”

Bessent appeared to draw that conclusion from a 2024 report by the Government Accountability Office that estimated there had been between $233 billion to $521 billion each year in fraudulent spending. But those numbers were drawn in part from the pandemic era when the government borrowed heavily to stabilize the economy.

The White House and Treasury did not respond to questions about the source of Bessent’s claims.

On deficits, Bessent told reporters at the White House that the administration was essentially dealt a bad hand from former President Joe Biden, a Democrat. “We inherited the worst budget deficit in history — in history — when we were not in a recession or not at war,” Bessent said.

Bessent had previously announced that the administration would aim to reduce the annual deficit to 3% of overall U.S. gross domestic product. It’s roughly double that percentage currently and Bessent did not directly answer a question about the timeline for hitting his target.

As of now, investors continue to buy shares in U.S. companies, causing the stock market to increase in value in a sign of confidence in America’s economic potential. But the increase in interest rates also suggests that investors view the national debt as a vulnerability for the U.S.

The financial markets might be able to inflict enough pain with higher rates in order to compel political leaders to address the systemic imbalances. Multiple economists said they expected that markets would force the deficit issue before voters would.

Hubbard emphasized that the whole bond market system rests on the trust that the debt will be repaid. He noted that the word “credit” is linked to a Latin term that is also the root of the word creed about a system of beliefs.

“That is what debt is about: I believe you will pay me back,” Hubbard said. “That works until it doesn’t.”

Treasury Secretary Scott Bessent listens to a reporter's question in the James Brady Press Briefing Room at the White House, Thursday, May 28, 2026, in Washington. (AP Photo/Mark Schiefelbein)

Treasury Secretary Scott Bessent calls on a reporter in the James Brady Press Briefing Room at the White House, Thursday, May 28, 2026, in Washington. (AP Photo/Jacquelyn Martin)

President Donald Trump speaks during a Cabinet meeting at the White House, Wednesday, May 27, 2026, in Washington, as Secretary of Defense Pete Hegseth, looks on. (AP Photo/Jacquelyn Martin)