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President-elect Joe Biden says he won’t immediately lift tariffs placed by President Donald Trump on many imports from China or break Trump’s initial trade deal.Biden says he wants to maximize his leverage in future talks with the United States’ geopolitical rival.Speaking to New York Times columnist Thomas Friedman, Biden said, “I’m not going to make any immediate moves, and the same applies to the tariffs.” Biden adds in Friedman’s column published Wednesday: “I’m not going to prejudice my options.”Under Trump, the U.S. and China engaged in a yearlong trade war that has been largely frozen since a Phase One deal was reached in January. While some industries have benefited from Trump’s protectionist policies, the policies have been largely panned by the business community and most experts — and most of the cost of tariffs has been borne by American businesses and consumers.Biden tells Friedman an early priority after his January swearing-in will be to restore relationships with allies to strengthen his negotiating position with China. Biden says key to talks with China is “leverage” and in his view “we don’t have it yet.” 1148

President Trump's trade war threat drove the Dow lower for the second straight day.The Dow fell as much as 391 points on Friday, but it recovered most of those losses and finished down 71. The Nasdaq and the S&P 500 both ended with modest gains after falling 1% earlier in the day.The sell-off began Thursday after Trump announced that his administration would impose a 25% tariff on steel imports and a 10% tariff on aluminum. Trump has not said whether some countries would be excluded from the tariffs.For the market, "this really could be something new and worse than we have seen so far," said Brad McMillan, chief investment officer at Commonwealth Financial Network.  691

President Donald Trump will not attend Saturday's funeral service for former first lady Barbara Bush, the White House said in a statement Thursday, citing the desire to "avoid disruptions" and out of respect for her family and friends."First Lady Melania Trump will attend the memorial service for Barbara Bush this Saturday on behalf of the First Family. To avoid disruptions due to added security, and out of respect for the Bush Family and friends attending the service, President Trump will not attend," the White House said in a statement.President Trump offered his condolences to the Bush family Wednesday as he began remarks at a joint news conference with Japanese Prime Minister Shinzo Abe.Barbara Bush, Trump said, was a "wonderful, wonderful person" and "a titan in American life.""Her strength and toughness really embodied the spirit of our country," Trump said at Mar-a-Lago. "She was a woman of proud patriotism and profound faith."Security will already be heightened at the funeral at St. Martin's Church in Houston -- Bush's husband, former President George H. W. Bush, and her son former President George W. Bush will be in attendance, as well as former Presidents Barack Obama and Bill Clinton. Former first ladies Michelle Obama, Laura Bush and Hillary Clinton will also attend.Former President Jimmy Carter and Rosalynn Carter will not attend, as Jimmy Carter will be on a trip overseas and Rosalynn Carter is recovering from recent intestinal surgery, a spokesperson for the Carter Center said in a statement Thursday.Bush, the matriarch of a Republican political dynasty and a first lady who elevated the cause of literacy, died Tuesday. She was 92. 1681

President Donald Trump's televised meeting Wednesday with lawmakers on gun control "made for great TV," a National Rifle Association spokesperson told CNN -- but the group was not entertained by the President's apparent sharp turn on policy."While today's meeting made for great TV, the gun-control proposals discussed would make for bad policy that would not keep our children safe," NRA public affairs director Jennifer Baker said. "Instead of punishing law-abiding gun owners for the acts of a deranged lunatic, our leaders should pass meaningful reforms that would actually prevent future tragedies."Lawmakers should focus on "fixing the broken mental health system, strengthening background checks to ensure the records of people who are prohibited from possessing firearms are in the (National Instant Criminal Background Check) system, securing our schools and preventing the dangerously mentally ill from accessing firearms," Baker added.During the meeting, Trump insisted that he is "a fan of the NRA," but he chided Republicans for being "afraid" of the gun lobby. Meanwhile, he expressed openness to measures that the NRA and some Republicans oppose, including raising the age limit to purchase firearms to 21 from 18. The President's remarks left Republicans visibly shell-shocked and Democrats giddy.Trump was skeptical that major gun policy changes would present a political risk, saying it would be "so easy" to harness the 60 votes needed to avert a filibuster in the Senate. And he pointedly dismissed the power of the NRA to derail the effort, telling lawmakers in the room, "They have great power over you people, they have less power over me.""Some of you people are petrified of the NRA," Trump added. "You can't be petrified." 1756

Rep. John Lewis, who died last week after a three-decade career in Congress, will lie in state, Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell jointly announced on Thursday.The civil rights activist who stood alongside Martin Luther King Jr. in the 60s died last Friday following a six-month battle with pancreatic cancer.Due to the coronavirus pandemic, mourners are encouraged not to travel from outside the D.C. area to pay tribute to Lewis. Those who attend the viewing will be asked to follow social distancing guidelines.The public viewing line will begin next Monday at 6 p.m. ET and continue through 10 p.m. The viewing will continue from 8 a.m. to 10 p.m. on Tuesday.Lewis will be the 33rd person to lie in state in the Capitol rotunda.Prior to Lewis’ viewing, an invitation-only arrival ceremony will be held Monday at 1:30 p.m. ET. 868

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