In our news wrap Tuesday, President Trump suggested he’d rather delay a trade agreement with China until after the 2020 election. New tariffs on Chinese imports could take effect December 15th, but Trump said he wasn't in a rush. Also, a federal appeals court in New York directed Deutsche Bank and Capital One to comply with subpoenas from House committees investigating Trump's business dealings.
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In the day's other news: President Trump's first day at the NATO summit was marked by a clash with French President Emmanuel Macron. He criticized Macron for saying that the alliance suffers from — quote — "brain death."
But the French leader stood by his criticism. We will have a detailed report after the news summary.
As he made his rounds in London, the president lost a round in his legal fight to keep his banking records from Congress. A federal appeals court in New York directed Deutsche Bank and Capital One to comply with subpoenas from House committees. They're investigating Mr. Trump's business dealings.
The White House said that it may appeal to the U.S. Supreme Court.
The president roiled financial markets today when he suggested delaying a trade agreement with China until after the 2020 election. New tariffs on Chinese imports could take effect December 15, but Mr. Trump said there is no deadline for making a deal.
President Donald Trump:
I think, in some ways, it's better to wait until after the election with China.
But I'm not going to say that. I just think that. I'll just tell you, in some ways, I like the idea of waiting until after the election for the China deal. But they want to make the deal now. And we will see whether or not the deal is going to be right. It's got to be right.
The president's remarks sent Wall Street into a day-long dive. In the end, the Dow Jones industrial average lost 280 points to close at 27502. The Nasdaq fell 47 points, and the S&P 500 gave up 20.
California Senator Kamala Harris dropped out of the 2020 Democratic presidential race today. She said her campaign lacks the money to go on. Harris was an early standout in the crowded field, but has since faded.
We will take a closer look later in the program.
In Iran, the government acknowledged, for the first time, that security forces shot and killed demonstrators in a crackdown on protests over gas prices. State TV described the protesters as rioters. Amnesty International had said that at least 208 people were killed in a crackdown. but Tehran rejected that figure today.
Gholamhossein Esmaili (through translator):
I bluntly say that numbers and figures given by hostile groups about deaths in the protests are sheer lies. Real statistics are seriously different from what they announce, and numbers are far less than what they claim.
President Trump said today that Iran is killing thousands of people, and he added — quote — "I think the world has to be watching."
A new wave of anti-government protests flared across Southern Iraq today. Thousands of college students filled streets in Basra to demand government reforms. Some carried mock coffins representing more than 400 protesters killed by security forces since October 1.
In this country, Republican Congressman Duncan Hunter formally admitted diverting campaign funds for personal use. He pled guilty today in federal court in San Diego. He now faces five years in prison. The six-term California lawmaker will also resign from Congress.
The U.S. Supreme Court heard arguments today in a high-stakes environmental case on Superfund sites. It involves a former copper smelter site in Montana. Local landowners want a more extensive cleanup of arsenic contamination than federal rules call for. Atlantic Richfield, which is the site's owner, argues that the federal regulations take precedent.
And back in London, Prince Andrew faced allegations that he once had sex with a 17-year-old American. And President Trump faced questions about it. The accuser, who's now 35, said that Jeffrey Epstein trafficked her.
Mr. Trump offered no opinion the case and said that he did not know Andrew.
Photos like this one from June do show them at several events together over the years. The prince has denied any wrongdoing.