Donald Trump takes aim at Dodd-Frank financial overhaul
The Latest on President Donald Trump (all times local): 1:28 p.m. President Donald Trump has signed an executive order that will direct the Treasury secretary to review the 2010 Dodd-Frank financial overhaul. It’s Trump’s first step at scaling back regulations on financial services. Trump has called the law a “disaster” and said it failed to address some of the causes of the 2008-2009 financial crisis. The president has also signed a presidential memorandum related to retirement planning. The administration’s move will delay implementing an Obama-era rule that requires financial professionals who charge commissions to put their clients’ best interests first when giving advice on retirement investments. ___ 1 p.m. The Trump administration says it has thawed its temporary freeze on contract and grant approvals at the Environmental Protection Agency, with all $3.9 billion in planned spending moving forward. A media blackout at the agency also appears to have been partially lifted, as a trickle of press releases were issued by EPA this week. However, the agency still has not posted to its official Twitter feed since President Donald Trump’s Jan. 20 inauguration. The Associated Press and other media outlets reported last week that Trump political appointees had instructed EPA staff not to issue press releases or make posts to the agency’s official social media accounts without prior approval. Contract and grant spending at the agency was also put on hold, prompting confusion and concern among state agencies expecting funding. ___ 12:05 p.m. Foreign leaders and groups are finding new ways to make known their disagreement with President Donald Trump’s policies. An international school in Bosnia announced Friday it would extend scholarships to students affected by Trump’s travel ban on citizens from seven Muslim-majority countries. The United World College’s branch in Mostar said it was motivated by its belief in equal opportunities. In Portugal, the parliament there voted to condemn the U.S. travel ban and highlighted the role of the U.S. to promote tolerance and human rights. In Sweden, Deputy Prime Minister Isabella Lovin posted on Facebook a photo of her signing the country’s new climate law while surrounded by seven female members of her staff. Swedish media say it resembles photos of Trump in the Oval office surrounded by male advisers. ___ 10:25 a.m. President Donald Trump is applauding the January jobs report, saying it shows there’s a “great spirit in the country right now.” Trump addressed last month’s job report, which showed the U.S. economy adding 227,000 jobs and the unemployment rate at 4.8 percent. The report also says that more Americans started looking for work, although not all of them found jobs immediately. Trump is joining business leaders and CEOs in the White House and also previewing some of his economic priorities. He says he expects “to be cutting a lot out of Dodd-Frank,” the financial regulations put in place in response to the Great Recession. The president says they’ll be discussing how to bring back jobs, lower taxes and reduce regulations. ___ 8:15 a.m. President Donald Trump says that a “new radical Islamic terrorist” is behind an attack outside the Louvre Museum in Paris. Trump tweeted early Friday that America needs to “get smart,” in light of the incident. He writes, “a new radical Islamic terrorist has just attacked in Louvre Museum in Paris. Tourists were locked down. France on edge again.” A knife-wielding man shouting “Allahu akbar” — “God is Great,” in Arabic — attacked French soldiers on patrol near the museum Friday in what officials described as a suspected terror attack. The soldiers first tried to fight off the attacker and then opened fire, shooting him five times. There were no immediate details about the identity of the suspect. ___ 7:40 a.m. President Donald Trump says reports of his contentious conversation with Australia’s prime minister are “fake news.” In a tweet Friday morning, Trump thanked Prime Minister Malcolm Turnbull “for telling the truth about our very civil conversation that FAKE NEWS media lied about. Very nice!” Turnbull told journalists that Trump had agreed to honor a deal to resettle refugees from among around 1,600 asylum seekers. Most are in island camps on the Pacific nations of Nauru and Papua New Guinea. Turnbull also said the U.S.-Australia relationship is strong. Australia has refused to accept them and instead pays for them to be housed on the impoverished islands. Trump earlier took to Twitter to call the agreement with Australia a “dumb deal.” ___ 7:04 a.m. President Donald Trump says movie star Arnold Schwarzenegger “tried hard” to make “Celebrity Apprentice” a success, but has failed. In an early morning Twitter post Friday, the president kept alive a theme he brought up a day earlier during his first appearance at the National Prayer Breakfast. Trump, who once hosted the NBC reality TV show, took a pot shot there at Schwarzenegger, the current host and former California governor, over a ratings nosedive for the show. On Friday, Trump said in his tweet, “Yes, Arnold Schwarzenegger did a really bad job as Governor of California and even worse on the Apprentice … but at least he tried hard!” Schwarzenegger responded quickly to Thursday’s remarks in a video on his verified Twitter account, suggesting that he and Trump switch jobs. Republished with permission of The Associated Press.
World jittery about Donald Trump’s ‘America first’ inaugural speech
President Donald Trump‘s inaugural speech promised “America first” policy led by a forceful executive, in contrast to the coalition building and international conferences which have featured strongly in past administrations. The billionaire businessman and reality television star — the first president who had never held political office or high military rank — promised to stir a “new national pride” and protect America from the “ravages” of countries he says have stolen U.S. jobs. “This American carnage stops right here,” Trump declared. In a warning to the world, he said, “From this day forward, a new vision will govern our land. From this moment on, it’s going to be America first.” A look at some reactions from around the world: ___ AFGHANS DISAPPOINTED BUT HOPEFUL Like many in the Afghan capital of Kabul, restaurant owner Mohammad Nahim watched the presidential inauguration ceremonies but was disappointed to not hear any mention of Afghanistan. “Trump did not mention a word about Afghanistan in his speech and the salaries of the Afghan army and police are paid by the U.S.,” he said. He added that if the U.S. stops helping Afghanistan, “our country will again become a sanctuary to terrorists. I hope Trump will not forget Afghanistan.” Mohammed Kasim Zazi, a shopkeeper whose home is in eastern Afghanistan’s Khost province, where the feared Haqqani network is prominent, said he expected Trump to stay focused on Afghanistan. “Trump said he will finish the terrorists in the world and that has to mean that Afghanistan will remain in the sights of the U.S.” said Zazi. Chief Executive Abdullah Abdullah said he was encouraged by Trump’s speech to soldiers in Bagram. “There he announced his support to the troops and the continuation of support for their troops here and strengthening their troops, which is a good and elegant step and I am sure that our cooperation in other areas will continue as well.” ___ SPEECH RESONATES IN MEXICO Perhaps no country was watching the speech more closely than Mexico. Trump has made disparaging remarks about immigrants who come to the United States illegally and sought to pressure companies not to set up shop in Mexico by threatening a border tariff on goods manufactured there and exported to the United States. So Trump’s talk of “protect(ing) our borders,” ”America first” and “buy American and hire American” had particular resonance in America’s southern neighbor. Ricardo Anaya Cortes, president of the conservative opposition National Action Party, called for “the unity of all Mexicans, unity in the face of this protectionist, demagogic and protectionist speech we just heard. Unity against that useless wall, against deportations, against the blockade of investment.” “The challenge is enormous. … We demand the federal government leave aside tepidity, that it tackle with absolute firmness and dignity the new relationship with the United States,” Anaya said. The United States is by far Mexico’s largest commercial partner, buying some 80 percent of its $532 billion in exports in 2015. Mexico is the second-largest market for U.S. exports. “At least the word ‘Mexico’ was not heard in the speech. Nevertheless one can expect the United States to launch a hyper-protectionist project,” said Ilan Semo Groman, a researcher at Iberoamericana University. If Trump truly moves to block or drive away U.S. investment in Mexico, Semo said Mexico should focus its commercial efforts on other countries. “There are very clear possibilities,” Semo said. Mexican President Enrique Pena Nieto sent three tweets after Trump’s inaugural speech Friday: — “I congratulate @realDonaldTrump on his inauguration. We will work to strengthen our relationship with shared responsibility.” — “We will establish a respectful dialogue with the government of President @realDonaldTrump, to Mexico’s benefit.” — “Sovereignty, national interest and the protection of Mexicans will guide the relationship with the new government of the United States.” ___ PAKISTAN WORRIES ABOUT MUSLIM COMMENTS A group of retired government officials gathered after morning prayers for a walk in a sprawling park in the heart of the federal capital of Islamabad and the topic of their conversation was President Trump’s inaugural speech. They expressed concern that Trump would target the Islamic world, particularly Pakistan, because of his campaign rhetoric about Muslims as well as his inaugural speech in which he promised to eradicate Islamic terrorism worldwide. Pakistan has often been accused of harboring militant insurgents and declared terrorist groups that have targeted neighboring India, against whom Pakistan has fought three wars, as well as Afghanistan. Pakistan denies the charges. “Likely there is more trouble in store for the Islamic world and our country will take the most brunt of the harsh treatment from President Trump administration,” said Mohammad Afzal. His sentiments were echoed by Shafiq Khan, who said “the one main thing that the new president mentioned about the world outside America is to tackle Islamic radicalism and that should be the matter of concern for all of us.” Amanaullah, a school teacher in Islamabad, feared Trump’s reference to eliminating radical Islamic terrorism. “I think under this name he wants to malign and eliminate Islam,” he said. Umair Khan, an engineer, said of Trump: “Let him taste the burden of government and get settled, I am sure he will calm.” ___ CONCERN IN TOKYO Some Tokyo residents are worried that Trump’s “America first” policy will usher in an era of populism and protectionism at the expense of the rest of the world. Tadashi Gomibuchi, who works in the manufacturing industry, recorded Trump’s inauguration speech overnight as he was keen to hear what the new president had to say. “Trump is trying to make big changes to the way things are. Changes are good sometimes, but when America, the most powerful, loses stability … it’s a grave concern,” he said. “If you take his words literally, it may destabilize the world going forward and I’m really worried. I hope things will lead to a soft landing.” Retiree Kuninobu Inoue, who lived in the U.S. during the 1990s, is concerned about trade frictions between Japan and the U.S, citing Trump’s decision
