*By Carlo Versano*
President Trump announced on Friday that he reached a tentative deal with Democrats to reopen the government temporarily while the two sides continue to negotiate on border security.
The continuing resolution would fund the government at current levels for three weeks, until Feb. 15. It reportedly does not include any funding for the border wall. While Trump framed the deal as a victory, he was essentially agreeing to the same proposal that was offered by Democrats before the shutdown, which he had rejected.
Trump thanked federal workers, some of whom have been forced to visit food banks as they missed paychecks, and promised they would receive back pay "very quickly."
After 35 days of a government shutdown that left 800,000 furloughed federal workers without pay and strained the nation's law enforcement, air travel, food safety, and border security agencies, the president essentially backed off his promise that he would only re-open the government if Congress agreed to appropriate billions for a wall. House Speaker Nancy Pelosi had said Trump would get "nothing for the wall."
In his Rose Garden announcement, Trump said he would ask Sen. Majority Leader Mitch McConnell to hold a vote on the continuing resolution immediately. He then delivered an extended off-prompter riff on border security, repeating many of his claims that a wall would drastically reduce crime and drug use in the U.S. "Walls should not be controversial," Trump said.
"This is an opportunity for all parties to work together for the benefit of our whole, beautiful, wonderful nation."
Afterward, Nancy Pelosi told reporters she was "glad we gave come to a conclusion today."
Sen. Chuck Schumer added: "Hopefully, the president learned his lesson."
U.S. and Chinese officials say a trade deal between the world’s two largest economies is drawing closer. The sides have reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting Thursday in South Korea. Any agreement would be a relief to international markets. Trump's treasury secretary says discussions with China yielded preliminary agreements to stop the precursor chemicals for fentanyl from coming into the United States. Scott Bessent also says Beijing would make “substantial” purchases of soybean and other agricultural products while putting off export controls on rare earth elements needed for advanced technologies.
A new poll finds most U.S. adults are worried about health care becoming more expensive.
The White House budget office says mass firings of federal workers have started in an attempt to exert more pressure on Democratic lawmakers as the government shutdown continues.
President Donald Trump says “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea after China restricted exports of rare earths needed for American industry. The Republican president suggested Friday he was looking at a “massive increase” of import taxes on Chinese products in response to Xi’s moves. Trump says one of the policies the U.S. is calculating is "a massive increase of Tariffs on Chinese products coming into the United States." A monthslong calm on Wall Street was shattered, with U.S. stocks falling on the news. The Chinese Embassy in Washington hasn't responded to an Associated Press request for comment.
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Department’s monthly jobs report.
