Senior U.S. administration officials said in a briefing with reporters on Tuesday night that President Donald Trump will announced in a speech on Wednesday that he has decided not only to recognize Jerusalem as the capital of Israel in honor of Israel’s 70th Independence Day, but has also ordered to start the process of moving the American embassy to Jerusalem. (The latter may take several years though).

"Though Mr. Trump is announcing his intent to move the embassy, Mr. Trump will still sign the current waiver which puts off formally moving the embassy. He's taking the action of signing the waiver, senior administration officials said Tuesday night, in order to avoid significant State Dept funding cuts. And he will continue to sign waivers until the new embassy is open. The officials said it was a practical impossibility to move the embassy immediately and suggested it would take some time to find a site."