Japanese PM at WH, Budget Issues Emerge

The Japanese Prime Minister Shigeru Ishiba is set to meet with President Donald Trump today to seek his continued support for the special relationship that has emerged between the two nations. It is believed that the prime minister will emphasize the strong record of investment in the U.S. that many Japanese companies have undertaken. They may discuss the proposal by Japanese steel company Nippon to buy U.S. Steel. That deal was rejected by former President Joe Biden, but both companies continue to push in the courts and with public opinion to get Trump to intercede.

Congress and deadlines

The Continuing Resolution (CR) that funds the government for the current fiscal year ends at midnight on March 14. Without Congressional action, there will be a government shutdown. Trump has made clear to Congressional Republicans that he would like to see an agreement reached to avoid that outcome.

In addition to the CR, Congress wants to move on Trump’s agenda to provide new funding for the border, deport illegal migrants, increase funding for the military, and institute new energy policies. To avoid a Senate Democratic filibuster on the Republican agenda, leaders plan to use the parliamentary tool of Budget Reconciliation, which is a legislative vehicle that is exempt from the Senate filibuster. As any bill that implements Trump priorities is unlikely to get any Democratic votes, it will require all Republicans to support the bill. That will be no easy task with their narrow majority.

House Republicans met with the President on Thursday, and Senate Republicans are set for a dinner and talks at Mar-a-Lago this weekend. Developing a strategy on the CR, budget reconciliation, and lifting the debt ceiling will be top priorities for the president and Congressional leaders in coming weeks.

Disclosures (show)

Sign in to read the report!

We have detected you are an active member!

Ray: e78fd6-36a9ad-66618c-d0f955-8385b4

Want to receive Regular Market Updates to your Inbox?

I am your default error :)

Events

Trending tickers in our research