Trump climbs down in wall row, Congress passes bill ending shutdown

News Image

MG News | January 26, 2019 at 01:10 PM GMT+05:00

0:00

Washington, Jan 26: President Donald Trump on Friday brought a temporary end to the longest government shutdown in US history, while dropping his previous insistence on immediate funding for wall construction along the Mexican border.

The announcement in the White House Rose Garden on the bipartisan deal marked a retreat by Trump, suspending a row that paralyzed Washington, disrupted air travel, and left more than 800,000 federal employees without pay for five weeks.

The top Democratic senator, Chuck Schumer, said he hoped Trump had "learned his lesson."

The Senate and House of Representatives both passed the deal by unanimous consent Friday. The White House later confirmed Trump had signed it into law.

Trump's reversal came as the full weight of the shutdown, including the financial cost on struggling employees and the national economy, became clear, and as the president appeared outfoxed by his political nemesis Nancy Pelosi, the Democratic speaker of the House of Representatives.

But while Trump climbed down in agreeing to reopen government without first getting $5.7 billion in border wall funds, he still threatened to renew hostilities with a new shutdown, or a state of emergency, if there is no breakthrough on his pet project in the next three weeks.

"Over the next 21 days, I expect that both Democrats and Republicans will operate in good faith," he said as he announced he would reopen the government.

"If we don't get a fair deal from Congress, the government either shuts down on February 15th again, or I will use the powers afforded to me under the laws and Constitution of the United States to address this emergency," he warned.

"We really have no choice but to build a powerful wall or steel barrier."

S&P Global Ratings said late Friday that the shutdown cost "is likely worse than what we had previously expected."

Based on their analysis, "the US economy lost at least $6 billion ... larger than the $5.7 billion that the White House requested for the border wall," it said in a statement.

 

(AFP/APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 152,907.97
313.13M
-3.41%
-5405.48
ALLSHR 91,785.84
517.51M
-3.04%
-2879.94
KSE30 46,304.86
108.36M
-3.69%
-1774.69
KMI30 222,014.44
106.73M
-3.34%
-7665.42
KMIALLSHR 59,976.79
312.82M
-2.94%
-1816.68
BKTi 41,546.33
34.74M
-3.94%
-1704.98
OGTi 31,998.89
11.08M
-3.07%
-1014.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 69,000.00 69,200.00
68,820.00
510.00
0.74%
BRENT CRUDE 105.95 109.05
102.75
3.73
3.65%
RICHARDS BAY COAL MONTHLY 99.40 0.00
0.00
-9.15
-8.43%
ROTTERDAM COAL MONTHLY 120.10 120.10
120.10
1.55
1.31%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00
0.00
0.00%
CRUDE OIL - WTI 93.24 93.74
93.02
-1.24
-1.31%
SUGAR #11 WORLD 15.85 15.97
15.53
0.30
1.93%

Chart of the Day


Latest News
March 26, 2026 at 09:12 PM GMT+05:00

SBP reserves rise $22m to $16.4bn


March 26, 2026 at 07:20 PM GMT+05:00

SBP rejects all bids in PIB floating rate buyback auction


March 26, 2026 at 06:54 PM GMT+05:00

SBP raises Rs466bn in fixed-rate PIB auction



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg