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Damian Paletta is White House economic policy reporter for The Washington Post. Before joining The Post, he covered the White House for the Wall Street Journal.
Ayers, who is currently Vice President Pence’s chief of staff, announced in a tweet Sunday evening that he will leave the White House at the end of the year.
Markets dive as U.S. and Beijing offer different accounts of deal, and as key provisions remain unsettled.
Tuesday’s stock market plunge amid doubts over a China trade deal is the latest example of the lack of confidence in Trump’s declarations.
Beijing’s promises remained vague, while a pact with Canada and Mexico got a rough reception in Congress.
Funding for parts of the federal government is set to expire at midnight Dec. 7, but Congress is deadlocked over Trump’s demand for $5 billion for a border wall.
Jerome H. Powell’s comments did not accept recent arguments from President Trump that interest rate increases have been a mistake.
“The countries that send us cars have taken advantage of the U.S. for decades,” Trump wrote.
The president said of the central bank: “They’re making a mistake because I have a gut, and my gut tells me more sometimes than anybody else’s brain can ever tell me.”
The president says on Twitter that he intends to investigate an end to federal subsidies for the firm if the layoffs go forward.
Escalating trade tensions coincide with a new era of hostility between the Trump administration and some of America’s closest allies.