End to Immigration Blitz in Minnesota, Navarro on Trade, More
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News when you want it with Bloomberg News Now. I'm Karen Moscow. President Trump has agreed to end the sweeping federal immigration operations in Minnesota. That from White House Border Czar Tom Homan. It's a landmark retreat from a mission that spurred national outrage over the killings of two U.S. citizens.
The surge operation and our work here with state and local officials to improve coordination and achieve mutual goals. as well as our efforts to address issues of concern here on the ground, have yielded the successful results we came here for.
Still, Homan signaled that enforcement actions would continue, saying that a small footprint of personnel will remain for a period of time to close out and transition full command and control back to the field office. Today's decision marks a major step to de-escalate an operation that sparked protests and congressional scrutiny over the Trump administration's tactics. White House Trade Advisor Peter Navarro is saying that the North American trade pact has significant flaws ahead of negotiations over the deal and is expressing worries about China shipping goods to Mexico and Canada. Uncertainty over the future of the deal, which was negotiated by Donald Trump in his first term, has intensified with sources telling Bloomberg the president has been asking aides why he should not withdraw from the agreement entirely.
Peter Navarro spoke to Bloomberg Radio this morning.
USMCA has some significant flaws in it and it's going to be reevaluated in July. The great Jameson Greer, our US trade representative, will be taking the lead on that. But nothing ever happens in the White House without the commander in chief, particularly on trade. So as the boss says, let's see what happens.
And that's White House trade adviser Peter Navarro. Sources tell Bloomberg while Trump has been privately musing over exiting the pact, he's stopped short of flatly signaling that he'll do so. President Trump's signature economic policy was dealt a blow on Capitol Hill. Six Republicans joined with Democrats on a resolution to roll back the president's tariffs on Canadian goods. And we get more with Bloomberg's David Gurra.
This is a symbolic vote, but I think it's an important one. This bill was introduced now almost a year ago by Gregory Meeks, the Democratic congressman, who's the ranking member on the House Foreign Affairs Committee. And it's to terminate the national emergency that President Trump has used to justify the tariffs he's put in place on Canada.
And that's Bloomberg's David Gurra. After the vote, the president fired off a stern warning, writing on social media that any Republican in the House or Senate that votes against tariffs will seriously suffer the consequences come election time, and that includes primaries. The Kremlin has set out proposals that could see Russia embrace the dollar again as part of a wide-ranging economic partnership with the Trump administration. That's according to an internal Russian document reviewed by Bloomberg. The high-level memo, which was drafted this year, details seven points where, in the Kremlin's view, Russian and U.S.
What recent changes have been made to immigration policy in Minnesota?
economic interests could converge following a deal to end the war in Ukraine. Now for some breaking economic news. Sales of previously owned U.S. homes fell in January by the most in nearly four years. It was a month marked by historically cold temperatures and a massive winter storm. Contract closings decreased 8.4 percent to a 3.91 million annualized piece in January. Applications for U.S. unemployment benefits edged down last week following a surge during severe winter weather in the previous period. Initial claims decreased by 5,000 to 227,000 in the week ending February 7th.
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