Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Markets>
Trump Calls for Government to Reopen; Democrats Refuse Border Funding Demands

Trump Calls for Government to Reopen; Democrats Refuse Border Funding Demands

Bitget-RWA2025/11/01 06:40
By: Bitget-RWA
- Trump demands immediate government reopening, blaming Democrats for shutdown impacting 800,000 furloughed workers and critical agency operations. - New York mayoral candidate Mamdani rejects Trump's funding threats, calling them distractions from broader governance failures. - U.S.-China trade deal targets 55% tariff reduction on Chinese goods and addresses fentanyl precursor issues amid ongoing economic tensions. - Fed resists Trump's rate-cut demands, opting for 0.25% reduction while maintaining inflat

Trump Urges Swift End to Government Shutdown

President Donald

has ramped up his demands for Congress to resolve the ongoing government shutdown, calling for lawmakers to "reopen the government without delay" and blaming Democrats for blocking his policy initiatives. Now entering its third week, the shutdown has resulted in thousands of federal employees being furloughed and has disrupted operations at major agencies such as the Department of Homeland Security and the Federal Aviation Administration.

The White House has portrayed the deadlock as a partisan dispute centered on Trump’s border security proposals and budget plans. "Democrats are putting politics above the needs of hardworking Americans," Trump wrote on Truth Social. "We won’t allow them to take the country hostage for their extreme demands."

At the same time, Zohran Mamdani, a frontrunner in New York City's Democratic mayoral primary, has dismissed Trump’s threats to cut federal funding to the city if Mamdani wins the November election. Mamdani, who identifies as a democratic socialist, brushed off Trump’s comments as a diversion from broader failures in governance. "If the president wants a fight, I’m ready to take him on," Mamdani told The Good Liars, a political satire outlet. He also rejected Trump’s labeling him a communist, saying, "I’m a democratic socialist, but I expect the president will call me whatever he wants." After defeating former Governor Andrew Cuomo in the Democratic primary, Mamdani now faces independent candidate Cuomo and Republican Curtis Sliwa in the general election.

Internationally, Trump and Chinese President Xi Jinping are preparing to finalize a trade and tariff deal at a summit in South Korea. The agreement, which has been under negotiation for months, seeks to lower retaliatory tariffs on Chinese products from 145% to 55% and address U.S. concerns about fentanyl precursor chemicals. Trump has also indicated he may be open to a compromise on TikTok, which faces a U.S. ban unless its Chinese parent company sells its stake. This deal is part of a wider easing of the trade conflict between the two nations, which have both reduced tariffs since earlier this year.

On the domestic front, the Federal Reserve has resisted Trump’s persistent calls for deeper interest rate cuts. In its most recent meeting, the Fed reduced rates by 0.25%, a move critics say falls short of what’s needed to tackle inflation, which remains above the central bank’s 2% goal. Trump has criticized the Fed’s independence, insisting that more aggressive rate cuts are necessary to boost economic growth. "The Fed is being obstinate," he said in a recent interview. "They’re not listening to what Americans need." Fed officials, however, have defended their measured approach, pointing to ongoing inflation and the dangers of overstimulating the economy.

In the world of cryptocurrency, the Trump-associated

(TRUMP) has bounced back after plunging 90% from its $9 billion peak. The token’s creator, Fight Fight Fight LLC, is in advanced negotiations to acquire the U.S. operations of Republic.com, a crowdfunding platform that could enable TRUMP to be used for payments and investments. If completed, the acquisition would represent a major step in expanding the memecoin’s practical use beyond speculation. Fight Fight Fight is also working to raise a $200 million digital asset reserve to help stabilize the token’s price.

The token’s recovery coincided with a $160 million

purchase by American Bitcoin, a treasury co-founded by Trump’s sons. This move, part of a broader effort to grow the Trump family’s crypto assets, has highlighted the administration’s favorable stance toward cryptocurrency, including pardons for industry figures and regulatory changes.

With the shutdown continuing and no quick solution in sight, Trump’s administration is under mounting pressure to address the economic and logistical fallout. As key elections draw near and global trade relations evolve, how the president manages these challenges will likely define his legacy in a potential second term.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Epic Games CEO hails Google’s antitrust agreement as a victory for Android’s ‘future as an open platform’
2
SoftBank and OpenAI introduce a new collaborative venture in Japan as AI partnerships become increasingly interconnected

Crypto prices

More
Bitcoin
Bitcoin
BTC
$104,229.22
+2.97%
Ethereum
Ethereum
ETH
$3,453.18
+4.78%
Tether USDt
Tether USDt
USDT
$0.9999
+0.00%
XRP
XRP
XRP
$2.3
+4.08%
BNB
BNB
BNB
$963.77
+3.52%
Solana
Solana
SOL
$162.9
+4.23%
USDC
USDC
USDC
$0.9999
+0.00%
TRON
TRON
TRX
$0.2890
+3.07%
Dogecoin
Dogecoin
DOGE
$0.1681
+5.03%
Cardano
Cardano
ADA
$0.5469
+4.47%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter