January 24, 2017 10:31:48 am
US President Donald Trump addressed business and trade issues on Monday. Highlights of the day follow:
TRADE: Trump formally withdraws the United States from the Trans-Pacific Partnership trade deal, distancing America from Asian allies as China’s influence in the region rises. Mexican President Enrique Pena Nieto says his country will aim to keep tariff-free commerce with North American Free Trade Agreement partners Canada and the United States in its talks with the Trump administration. Canada has a “very special status” and is unlikely to be hit hard by changes the United States wants to make to the NAFTA trade accord, the head of a business advisory council to Trump says.
BUSINESS: Trump meets with a dozen prominent US manufacturers, promising to cut regulations and corporate taxes but warning them of penalties if they move production outside the country. Trump meets at the White House with leaders of construction, carpenters, plumbers and sheet metal unions, the administration says. Trump will have breakfast on Tuesday with the chief executives of General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles NV as he pressures automakers to boost American employment.
CABINET: The US Senate confirms Representative Mike Pompeo as Trump’s CIA director. Trump’s choice for secretary of state, former Exxon Mobil Corp Chairman Rex Tillerson, narrowly wins approval from a Senate committee and is expected to be confirmed by the full Senate. The White House says national security adviser Michael Flynn held just two phone calls with Russia’s ambassador to Washington, amid reports that Flynn’s communications are being scrutinized by US counterintelligence agents.
FOREIGN RELATIONS: The Trump administration vows to prevent China from taking territory in international waters in the South China Sea, something Chinese media has said would require Washington to “wage war.” Egyptian President Abdel Fattah al-Sisi discussed terrorism and extremism in a call with Trump, and Trump applauded Egypt’s efforts on those fronts, Sisi’s office says.
SUPREME COURT: A White House spokesman says Trump will announce a nominee in the next couple of weeks to fill a vacancy on the US Supreme Court.
HEALTHCARE: Two Republican senators say US states should be allowed to stay in the Obamacare medical insurance program if they like.
LAWSUIT: Trump dismisses allegations in a new lawsuit accusing him of violating the US Constitution by letting his hotels and other businesses accept payments from foreign governments.
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