Biden says Trump “could be impeached” based on House probe results

Former Vice President Joe Biden said Saturday that President Trump “could be impeached” depending on the results of a House investigation into whether Mr. Trump asked Ukrainian President Volodymyr Zelensky to investigate Biden’s son, Hunter.

“I know Trump deserves to be investigated. He is violating every basic norm of a president,” Biden said in Iowa. “Depending on what the House finds [Trump] could be impeached.”

The Wall Street Journal reported that Mr. Trump repeatedly pressured Zelensky to open an investigation into Hunter Biden in a July call with the Ukrainian president. This interaction with Zelensky may be the subject of a whistleblower report to the inspector general of the intelligence community that the Trump administration is refusing to provide to Congress.

Hunter Biden served on the board of a Ukrainian natural gas company owned by Mykola Zlochevsky, a wealthy associate of Viktor Yanukovych, the pro-Russian Ukrainian president who was forced into exile in 2014. Zlochevsky was subsequently investigated for corruption, and a new prosecutor general, Viktor Shokin, took over the investigation in 2015, according to Politifact

Speaking to reporters in Iowa on Saturday, Biden said that he had never spoken to his son about his business dealings in Ukraine. He accused Mr. Trump of “trying to intimidate a foreign leader” by asking Zelensky to investigate the younger Biden.

“Trump’s doing this because he knows I’ll beat him like a drum. And he’s using the abuse of power and every element of the presidency to try to do something to smear me,” Biden said. He also said that Mr. Trump “crossed a line,” and called on the president to release the transcript of the July call with Zelensky.

For his part, Mr. Trump has denied any wrongdoing and accused the media of trying to create a conspiracy. He pointed out that Biden, while he was vice president, threatened to withhold aid from Ukraine unless it ousted Shokin, which Ukraine agreed to do.

“The Fake News Media and their partner, the Democrat Party, want to stay as far away as possible from the Joe Biden demand that the Ukrainian Government fire a prosecutor who was investigating his son, or they won’t get a very large amount of U.S. money, so they fabricate a story about me and a perfectly fine and routine conversation I had with the new President of the Ukraine. Nothing was said that was in any way wrong, but Biden’s demand, on the other hand, was a complete and total disaster. The Fake News knows this but doesn’t want to report!” Mr. Trump wrote on Twitter.

However, Shokin was perceived by the U.S. and its allies as not pursuing corruption cases aggressively enough, Politifact points out, and he was suspected of trying to protect pro-Russian interests. The case against Zlochevsky languished while Shokin was a prosecutor.

In a heated interview with CNN on Thursday, the president’s personal lawyer, Rudy Giuliani, admitted that he asked Ukrainian officials to investigate Joe Biden and his son. However, Giuliani said he wasn’t ordered by Mr. Trump to investigate Biden and didn’t inform the president of his investigation until after the fact.

Bo Erickson and Rob Legare contributed reporting.

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World – CBSNews.com

Trump announces increased sanctions on Iran

President Trump announced an increase in sanctions on Iran on Wednesday after Secretary of State Mike Pompeo blamed the country for an attack on Saudi oil fields. Mr. Trump wrote on Twitter that he had asked the Treasury Department to “substantially increase” sanctions on Iran.

“I have just instructed the Secretary of the Treasury to substantially increase Sanctions on the country of Iran!” Mr. Trump wrote.

Saudi Arabia was expected to directly blame Iran on Wednesday for the raid that heavily damaged two oil facilities in the kingdom over the weekend. Pompeo was visiting Saudi Arabia to discuss the attack “and coordinate efforts to counter Iranian aggression in the region,” according to the State Department.

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Pompeo tweeted on Sunday that “Iran has now launched an unprecedented attack on the world’s energy supply,” adding that there was no evidence that the attack came from Houthi forces in Yemen, who claimed responsibility.

“We call on all nations to publicly and unequivocally condemn Iran’s attacks. The United States will work with our partners and allies to ensure that energy markets remain well supplied and Iran is held accountable for its aggression,” Pompeo tweeted.

Iran has denied any involvement, but on Wednesday Iranian President Hassan Rouhani said Saudi Arabia should see the attack as a warning to end its war in Yemen.

CBS News national security correspondent David Martin said the most urgent order of business for Pompeo will be to discuss the installation of better air defenses around the Saudis’ oil facilities, which have suddenly proven vulnerable to attack.

U.S. intelligence agencies were caught flatfooted, never expecting Iran would be so bold as to attack Saudi Arabia directly. A U.S. official told CBS News the U.S. has identified the exact locations in southern Iran from which the drones and cruise missiles were launched at Saudi Arabia’s oil facilities.

Saudi Arabia’s Crown Prince Mohammed bin Salman said Wednesday that his country was already beefing up its security measures in the air and the water. CBS News correspondent Ian Lee said the Saudis had also committed to joining a U.S.-backed force to protect vital shipping lanes and oil facilities in and around the Persian Gulf.

U.S. officials said experts have examined pieces of the wreckage on the ground, identified the specific type of cruise missiles and drones fired on Saturday and determined they were made in Iran. A senior administration official told CBS News there was “100%” certainty on that point.

Pompeo will ask the Saudis what they want to do in response to what U.S. officials have called “a complex and coordinated attack” on their infrastructure.

One option is a military strike against the facilities from which those drones and cruise missiles were launched.

“We’re locked and loaded, and we’re ready to defend our interests and our allies in the region, make no mistake about it,” Vice President Mike Pence said Tuesday.

It was unclear on Wednesday whether Mr. Trump was favoring a military response, which would risk a dramatic escalation in the region.

“By sending your secretary of state, it almost implies that you’re leaning more toward diplomatic solutions to this issue,” Joseph Westphal, a former U.S. ambassador to Saudi Arabia, told CBS News. He said Pompeo’s visit “will be important to ensure that both U.S. and the Saudis have a unified response to this attack.”

Mr. Trump had talked about trying to strike a new deal with Iran since pulling the U.S. out of the 2015 nuclear agreement hashed out by his predecessor, but now he says he no longer wants to meet Iran’s president when world leaders gather for the United Nations General Assembly next week.

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NewsBreak: Trump Rages as ECB Restarts QE, Cuts Rates

© Reuters.  © Reuters.

Investing.com — President Donald Trump raged again at the Federal Reserve Thursday after the European Central Bank cut its key interest rate further into negative territory and announced it would restart quantitative easing from November.

  • “They are trying, and succeeding, in depreciating the Euro against the VERY strong Dollar, hurting U.S. exports…. And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!” Trump said via Twitter.
  • ECB cut its deposit rate by 10 basis points to -0.5%;
  • ECB will resume quantitative easing on an open-ended basis at a rate of 20 billion euros a month from November
  • EUR/USD at $ 1.0969 vs $ 1.1023 immediately before the QE announcement.
  • ECB President Mario Draghi’s press conference to start at 8:30 AM ET. Follow it live at investing.com.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex – U.S. Dollar Rises; Trump Goes After Fed

© Reuters.  © Reuters.

Investing.com – The U.S. dollar was higher on Wednesday as U.S. President Donald Trump once again went after the Federal Reserve for not cutting interest rates as much as he would like.

Trump said in a tweet that the central bank should cut interest rates to zero or less, calling Fed officials “boneheads.”

He said negative interest rates would save the U.S. government money on its debt. Central banks in Europe and Japan introduced negative interest rates in order to try to stimulate the economy, but the lower rates have done little to boost growth or raise inflation in the regions.

The , which measures the greenback’s strength against a basket of six major currencies, gained 0.4% to 98.653 as of 11:01 AM ET (14:01 GMT).

The Japanese yen, which is seen as a safe haven in times of market turmoil, fell, with rising 0.2% to 107.73.

Sterling was flat as tensions between Prime Minister Boris Johnson and the U.K. parliament continued. A Scottish High Court ruled that Johnson’s decision to suspend parliament was unlawful. An appeal is expected in the Supreme Court next week. was flat at 1.2339 while fell 0.4% to 1.10995 due to the stronger dollar.

And the loonie turned lower after Prime Minister Justin Trudeau called for elections on Oct. 21. While not a surprise, it does increase political uncertainty in the country. rose 0.2% to 1.3168.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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US President Trump addressing a rally says China wants to talk

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Trump plans to revoke California fuel economy standards

The Trump administration plans to set a nationwide standard for automotive emissions and fuel economy, depriving California of the waiver that allows it to set its own standards, according to an administration official. The proposal is expected some time this month from the Environmental Protection Agency.

California has had stricter fuel economy and auto emissions standards for decades. The state’s laws were enacted before the passage of the Clean Air Act to curb the automobile air pollution in the Los Angeles metropolitan area. Congress granted California a waiver to make stricter standards law in the state for public health reasons. 

Twelve states and the District of Columbia chose to adopt the California standards, too. The different standards have meant that automakers who want to sell cars in these states either must manufacture two sets of cars — those that meet the California standards and those that meet the looser national standards — or they could follow the California standards for all their cars. Some have already decided to side with California.

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In July, four automakers — Ford, BMW, Honda and Volkswagen — signed a deal with California to meet more stringent pollution and mileage standards than the Trump administration is proposing. 

President Trump has pushed for months to weaken Obama-era mileage standards nationwide. Any administration moves to rescind authority that Congress granted probably would end up in court. When President George W. Bush challenged California’s greenhouse gas emissions and mileage-setting ability, California fought it. The Obama administration subsequently dropped the Bush effort.

The Trump plan would have to be posted in the Federal Register and would be subject to public comment. His administration has tried to ease or remove scores of environmental regulations that it regards as unnecessary and burdensome. The tougher mileage standards were a key part of the Obama administration’s efforts to reduce climate-changing fossil fuel emissions.

The administration has sought to freeze Obama-era standards, keeping fleetwide new-vehicle mileage at 2021 levels of about 30 mpg. The administration argues that the extra expense to comply with the requirements will raise the price of new cars, making them unaffordable and depriving buyers of new safety technology. Many experts, including former EPA engineers, have challenged the administration’s safety assertion.

Arden Farhi contributed to this report.

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U.S. – CBSNews.com

Trump to meet with USDA, EPA officials about biofuels plan: sources

© Reuters. President Donald Trump departs the White House en route to Camp David © Reuters. President Donald Trump departs the White House en route to Camp David

By Chris Prentice and Stephanie Kelly

(Reuters) – U.S. President Donald Trump is expected to meet with Department of Agriculture and Environmental Protection Agency officials late Thursday to consider a plan that would include boosting biofuels requirements for 2020 by 1 billion gallons, according to two sources familiar with the discussions.

Trump has promised to deliver a “giant package” to U.S. farmers related to ethanol, in response to ire from U.S. farmers and biofuels advocates over a large number of exemptions regulators have given to oil refineries to free them of requirements to blend biofuels.

The Renewable Fuel Standard, signed into law by President George W. Bush in 2005, requires refineries to blend increasing volumes of biofuels into their fuel each year. Small facilities under financial strain can be exempted, and Trump authorized the EPA to grant 31 waivers to small refineries in August, far more than the Obama administration had typically granted.

The draft plan under consideration would include a previously discussed increase of 500 million gallons for conventional biofuels, largely corn-based ethanol, as well as an additional 500 million gallons for advanced biofuels like biodiesel for 2020. It would also include an addition to the biodiesel mandate for 2021 of 250 million gallons.

That increase would help address “excess waivers,” which have also harmed biodiesel and soy farmers, the document said.

An EPA spokesperson declined to confirm or comment on the plan but said the agency will continue to consult on the best path forward for the program.

“The president will always seek to engage with stakeholders to achieve wins for the agriculture and energy sectors,” the spokesperson said.

EPA in July proposed setting biofuels requirements at 20.04 billion gallons in 2020, up from 19.92 billion gallons in 2019. That included 15 billion gallons of conventional biofuels like ethanol. The EPA also proposed setting the 2021 biodiesel volume at 2.43 billion gallons, unchanged from 2020.

Further details about Thursday’s meeting and the latest proposal were unclear but had already drawn criticism from the oil industry.

“Pursuing this plan jeopardizes the refining industry’s support of the president and would undoubtedly raise fuel prices for consumers, neither of which would be good for the president going into next year’s election,” said Chet Thompson, head of the American Fuel and Petrochemical Manufacturers.

Backlash to the waivers has been particularly strong in Iowa, the largest producer of corn and ethanol, and a swing state won twice by former Democrat President Barack Obama but which voted for Trump in 2016.

“The EPA’s exemptions have destroyed demand for far more than a billion gallons each year,” said Brooke Coleman of the Advanced Biofuels Business Council. “Farm-state champions are looking for a fix that will put the RFS back on the track that Congress intended.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Pres. Trump: Tariffs that are set to go in place on Sunday against China are still on

Pres Trump says tariffs will go on as planned on Sunday.

Pres Trump says tariffs will go on as planned on Sunday.

Before departing the White House for the weekend told reporters, 

  • He can’t say whether he will speak to Xi, but US is speaking to China
  • Tariffs set to go in place on Sunday against China are still on
  • “We are going to win the fight” with China
  • Trade meeting with China in September is still on, it has not been canceled
  • US is in incredible negotiating position with China because of tariffs it has placed on Chinese imports
  • He sees a connection between situation in Hong Kong and China trade talks
  • Chinese response in Hong Kong will be much more violent if were not for the trade talks
  • Repeats China wants to make a trade deal

On other topics:

  • Too soon to call for evacuation Florida.  Determination will likely be made on Sunday
  • Asked if he would like to see negative interest rates in the United States, says no.

The squeeze remains on.

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Euro Falls to Two-Year Low Amid Trade Concerns, Trump Ire

(Bloomberg) — The euro sank below $ 1.10 for the first time since May 2017 amid low liquidity on a late-summer trading session.

The common currency lost as much as 0.7% against the U.S. dollar, getting as low as $ 1.0976. The selloff picked up dramatically around 11 a.m. in New York as London closed for the month and after currency options expired.

With U.S. markets shut Monday for Labor Day, traders may be hesitant to hold big positions going into the long weekend. And that’s especially true with new U.S. tariffs on Chinese imports poised to take effect Sunday as the trade war between the world’s two largest economies rages on.

“The direction of travel for world trade-industrial production is still heading south — which is a euro negative,” Chris Turner, a foreign-exchange strategist at ING Groep (AS:) NV, said in an email.

The euro remained weak in early afternoon trading, setting a fresh daily low of $ 1.0976 at 1:02 p.m. in New York.

The common currency tumbled even after U.S. President Donald Trump complained Friday, yet again, about the dollar’s strength and the euro’s weakness, which makes American exports less competitive. Meanwhile, Italian bonds fell as the country’s political crisis took another twist with officials clashing as they attempted to form a new ruling coalition.

This comes at a time when European Central Bank staff are working on a stimulus proposal for policy makers to consider at their Sept. 12 meeting, amid rising expectations the institution will cut interest rates further below zero and consider fresh asset purchases.

Traders also executed stop orders Friday to sell the euro as it weakened, helping to accelerate the move lower.

Brad Bechtel, a strategist at Jefferies, said there were stops through the prior August lows and then again through $ 1.1000. Traders execute stop orders at predetermined levels to curb losses.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex – Dollar Rises vs Havens as Trump Talks up Trade Hopes

© Reuters.  © Reuters.

Investing.com – The U.S. dollar was broadly higher on Monday, as optimism over the U.S.-China trade conflicts supported risk sentiment, despite further signs of a slowdown in the U.S. manufacturing sector.

The U.S. , which measures the greenback’s strength against a basket of six major currencies, rose 0.3% to 97.852 as of 10:18 AM ET (14:18 GMT), thanks largely to gains against the safe-haven and , as well as against sterling.

Speaking at the G7 summit in Biarritz, France, on Monday, U.S. President Donald Trump said that he had received two phone calls from Chinese officials over the weekend urging new talks, which he interpreted as a signal that China was willing to make concessions in the ongoing trade dispute.

The Chinese Foreign Ministry said it was not aware of any phone calls between the two nations but Vice Premier Liu He said he wanted to solve their trade differences as calmly as possible.

Tensions escalated on Friday after both the U.S. and China announced new tariff measures and Trump appeared to threaten to use emergency powers to force U.S. companies to stop making goods in China.

The trade noise overshadowed a light domestic data schedule, which showed that orders (a measure that excludes volatile big-ticket items) fell 0.4% in July, and also rose by less than originally reported in June.

Elsewhere, the euro was down 0.2% at 1.1117, as the closely-watched German index fell more than expected to a new seven-year low.

Hopes of a quick and effective response to support the eurozone economy may be premature, some argue.

“Everyone is very excited about a German stimulus, but Germany is constrained by its own debt rules and probably won’t be galvanized to provide much stimulus until unemployment spikes significantly,” Megan Greene, a senior fellow at the Harvard Kennedy School of Government, said via Twitter.

In emerging markets, the Brazilian real fell to its lowest in nearly a year amid concerns at President Jair Bolsonaro’s missteps with regard to the Amazon fires. Piqued by European threats not to ratify a recent trade deal with the Mercosur trading bloc, Bolsonaro responded at the weekend with a Facebook post insulting the wife of French President Emmanuel Macron. To make matters worse Monday, new data showed Brazil’s deficit widened to the most since 2015 in July, although picked up after a sharp dip in June.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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