News Alert: Trump rolls the dice on North Korea

View in your browser     Trump rolls the dice on North Korea President Trump is making a serious roll of the dice with his decision to meet face-to-face with North Korean leader Kim Jong Un. Trump would be the first U.S. president to ever meet with a leader of North Korea, and success in the negotiations — if the Korean peninsula was de-nuclearized — would be a tremendous, historic achievement. At the same time, there’s little reason to believe Kim has actually changed his mind about nuclear weapons when he’s on the verge of achieving his goal of a nuclear-tipped missile capable of striking the U.S. mainland. Read the full story here           Did a friend forward you this email? Sign up for News Alerts     Forward News Alerts     You Might Like       Privacy Policy  |  Manage Subscriptions  |  Unsubscribe  |  Email to a friend  |  Sign Up for Other Newsletters   The Hill 1625 K Street, NW 9th Floor, Washington DC 20006 ©2016 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.

Defense Issuewatch Newsletter

View in your browser     Pentagon seeks flexibility on $700B budget By Rebecca Kheel and Ellen Mitchell Generals and administration officials will take the hot seat in the coming week to testify on President Trump's fiscal 2019 budget request. Secretary of State Rex Tillerson, whose hearings last month were canceled after his father died, is now scheduled to testify Thursday before the Senate Foreign Relations Committee Tillerson can expect a grilling on the proposed 26 percent cut to the State Department's budget, with particular emphasis on the military's support for fully funding the department. Meanwhile, lawmakers are also getting closer to the deadline to pass a spending bill for the rest of fiscal 2018. When Congress passed a two-year budget deal last month, they also passed a stopgap spending measure that expires March 23. As the spending package for the rest of the fiscal year gets finalized, one thing to keep an eye out for is whether the Pentagon gets flexibility on when it can spend its dollars. The budget deal gives the Pentagon a $700 billion windfall -- everything it asked for. But officials have been expressing concern that they'll have to rush to spend the money in the remaining six months of the fiscal year, leading to unwise decisions. As such, they've asked for more flexibility in how and when the Pentagon is allowed to spend its money.     In a Senate Budget Committee hearing this week, Pentagon comptroller David Norquist asked for the ability to roll over operations and maintenance funds into the next fiscal year and for more flexibility in moving funds between accounts. He also asked for relief from the so-called 80:20 rule, which prohibits federal agencies from spending more than 20 percent of their funding in the last two months of the fiscal year. In a separate hearing, House Appropriations Committee Chairman Rodney Frelinghuysen (R-N.J.) promised some flexibility in the bill, without being specific. "We are addressing the whole issue of flexibility," he said at a hearing with Navy leaders. "Oversight is important. Sometimes when you get a huge bucket of money people say, 'This is the gold mine.' But we -- the committee still -- I know under Ms. [Kay] Granger's chairmanship [of the defense subcommittee], wants to make sure that all of those dollars are spent responsibly. So I think we worked out a path forward to provide that degree of flexibility you and the other services are looking for." The hearing and event schedule for the coming week is packed. Army Secretary Mark Esper, Navy Secretary Richard V. Spencer and Air Force Secretary Heather Wilson will discuss the fiscal 2019 budget at the Center for Strategic and International Studies at 1:30 p.m. Monday in Washington. http://bit.ly/2FeYfeR The Senate Armed Services Committee will hear from U.S. Central Command head Gen. Joseph Votel and Gen. Thomas Waldhauser, commander of U.S. Africa Command, at 9:30 a.m. Tuesday in the Hart Senate Office Building, room 216. http://bit.ly/2Iie8QG The heads of U.S. Army Cyber Command, Marine Forces Cyberspace Command, Air Forces Cyber and Navy Fleet Cyber Command will testify on the cyber posture of the services before a Senate Armed Services subpanel at 2:30 p.m. Tuesday in Russell Senate Office Building, room 222. http://bit.ly/2FoW7lH Gen. Ellen Pawlikowski, head of Air Force Materiel Command, will speak on current acquisition challenges and opportunities at an Air Force Association breakfast at 8 a.m. Wednesday in Arlington, Va. http://conta.cc/2If7WZB Rep. Seth Moulton (D-Mass.) will speak on present and future dangers ahead of Russian President Vladimir Putin's reelection at 9 a.m. Wednesday at the American Enterprise Institute in Washington. http://bit.ly/2Fs58dG Ranking Member of the House Armed Services Committee Adam Smith (D-Wash.), will speak on the future of base realignment and closure at 9 a.m. Wednesday at the Cato Institute in Washington. http://bit.ly/2tvRQr3 The House Appropriations defense subcommittee will hear from Air Force Secretary Heather Wilson and Air Force Chief of Staff Gen. David Goldfein on the fiscal 2019 Air Force budget at 10 a.m. Wednesday on the House side of the Capitol Building, room 140. http://bit.ly/2oXZVjE A Senate Foreign Relations subcommittee will hold a hearing on Somalia's current security and stability status at 10 a.m. Wednesday in Dirksen Senate Office Building, room 419. http://bit.ly/2IfaZ41 The House Armed Services Committee will hold a hearing on space warfighting readiness policies, authorities and capabilities at 10 a.m. Wednesday in Rayburn House Office Building, room 2118. http://bit.ly/2Fv0Cau The House Foreign Affairs Committee will hear from outside experts on modernizing export controls at 10 a.m. Wednesday in Rayburn 2172. http://bit.ly/2Hk3oji A House Armed Services subcommittee will hear from Air Force officials on the service's fiscal 2019 budget request for sea power and projection forces staff at 2 p.m. Wednesday in Rayburn 2212. http://bit.ly/2FBtGk1 A Senate Armed Services subpanel will hear from Energy Department and National Nuclear Security Administration officials on atomic energy defense activities at 2:30 p.m. Wednesday in Russell 232-A. http://bit.ly/2IceHeN DARPA Director Steve Walker will speak at a House Armed Services subcommittee on the fiscal 2019 budget request for Department of Defense science and technology programs at 3:30 p.m. Wednesday in Rayburn 2118. http://bit.ly/2Fx1mM7 Army Secretary Mark Esper and Army Chief of Staff Gen. Mark Milley will appear before the House Appropriations defense subcommittee to discuss the fiscal 2019 Army budget request at 10 a.m. Thursday in the House side of the Capitol Building 140. http://bit.ly/2IeKtrx Secretary of State Rex Tillerson will appear before the Senate Foreign Relations Committee to discuss the fiscal 2019 State Department budget request and redesign plans at 10 a.m. Thursday in Dirksen 419. http://bit.ly/2De9vTV Head of U.S. European Command Gen. Curtis Scaparrotti will testify before the House Armed Services Committee on security challenges in Europe and competition with Russia at 10 a.m. Thursday in Rayburn 2118. http://bit.ly/2oUoHBq Sen. Marco Rubio (R-Fla.) will speak on countering authoritarianism and advancing U.S. interests in Latin America at 12:15 p.m. Thursday at the Heritage Foundation in Washington. http://bit.ly/2FvTKtB Lt. Gen. Jerry Harris, Air Force deputy chief of staff, and Lt. Gen. Anthony Ierardi, director of the Joint Chiefs of Staff force structure, resources and assessments, will speak at a House Armed Services subpanel on the fiscal 2019 budget request for Air Force airborne intelligence, surveillance and reconnaissance programs at 2 p.m. Thursday in Rayburn 2212. http://bit.ly/2IdE5AG Another House Armed Services subcommittee will hear from Assistant Secretary of Defense Kenneth Rapuano and head of Air Force Space Command Gen. John Raymond on the fiscal 2019 budget request for national security space programs at 3:30 p.m. Thursday in Rayburn 2118. http://bit.ly/2FmbPhD Lt. Gen. Charles Hooper, director of the Defense Security Cooperation Agency, will speak on strengthening alliances and partnerships through defense cooperation at 10 a.m. Friday at the Center for Strategic and International Studies in Washington. http://bit.ly/2If8K0z   Recent stories: -- White House: North Korea must take 'steps' before Trump-Kim meeting -- Trump agrees to meet with Kim -- State Dept. announces over $450M in weapons sales to Qatar, UAE despite Gulf blockade -- Senators to Trump: Keep pressure on North Korea while exploring talks -- Top US general: Trump admin lacks unified effort to combat Russia cyber threat -- Experts urge senators to back bill ending US involvement in Yemen war -- US troops in Niger to receive hostile fire pay -- Navy, Marine Corps leaders warn that China is 'weaponizing capital' -- DC Veterans Affairs hit by scathing report citing 'failed leadership at multiple levels'     Join The Hill on Wednesday, March 21, for Leadership in Action: The Hill's Newsmaker Series featuring Sen. Lamar Alexander (R-Tenn.) and Reps. Nanette Barragán (D-Calif.), and Joe Crowley (D-N.Y.). RSVP Here         Did a friend forward you this email? Sign up for Defense Newsletters     Forward Defense Newsletters       Privacy Policy  |  Manage Subscriptions  |  Unsubscribe  |  Email to a friend  |  Sign Up for Other Newsletters   The Hill 1625 K Street, NW 9th Floor, Washington DC 20006 ©2016 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.

Finance Issuewatch Newsletter

View in your browser   Week ahead: Lawmakers dig in for fight on tariffs By Sylvan Lane Washington will be focused on two major showdowns over economic policy in the coming week as the president's new tariffs and legislation to rollback Dodd-Frank banking rules both see action. The Trump administration is set to start implementation of tariffs on imported steel and aluminum that the president signed Thursday. Trump said imposing the tariffs, 25 percent on steel and 10 percent on aluminum, were essential to protecting U.S. manufacturing and national security. But the issue has Trump at odds with his own party. Republicans have almost unanimously opposed the tariffs and are pushing for significant changes. GOP leaders in Congress are pushing Trump to narrow the tariffs, which they say should be focused on unfairly traded goods and those countries that are violating trade laws. House Speaker Paul Ryan (R-Wis.) said Thursday he feared the "unintended consequences" of broad tariffs, and Senate Finance Committee Chairman Orrin Hatch called the fees a tax on U.S. workers. Sen. Jeff Flake (R-Ariz.), a staunch Trump critic, said he'd introduce a bill to nullify the tariffs. "These so-called 'flexible tariffs' are a marriage of two lethal poisons to economic growth -- protectionism and uncertainty. Trade wars are not won, they are only lost. Congress cannot be complicit as the administration courts economic disaster," Flake added on Thursday.     U.S. trading partners have vowed to impose tariffs of their own on American imports if Trump forges ahead with broad tariffs. But the administration has sought to limit the possibility of angering key allies, particularly Canada and Mexico. The White House said that those countries would be exempted from the tariffs as talks to renegotiate the North American Free Trade Agreement continue. Treasury Secretary Steven Mnuchin said Friday that countries beyond Mexico and Canada could be added to the exemptions list before tariffs go into effect in the next few weeks. The Commerce Department may also look into removing certain products from the brunt of hefty tariffs, he said. When asked whether he is concerned the tariff policy could spark a global trade war that hurts the U.S. economy, Mnuchin insisted that "we have to defend U.S. interests." "Tariffs are important to preserve the steel industry," he said. Tariffs aren't the only contentious issue on the docket in the coming week. Lawmakers will also face off over a bipartisan bill to loosen key parts of the Dodd-Frank Act after votes were pushed to next week. The Senate will vote to end debate on the measure Monday evening, and the bill is poised to pass this week over the objections of liberal Democrats. A spokesman for Senate Majority Leader Mitch McConnell (R-Ky.) said Thursday that Republicans and Democrats were unable to agree on which of the more than 100 amendments to the bill would get votes. The Senate will vote on a series of amendments "early next week," the spokesman said. More than a dozen Democrats support the underlying measure, and the battle over amendments isn't likely to change the final outcome. House conservatives are also pushing for more input on the bill. With the GOP searching for accomplishments to tout ahead of the midterm elections, House Republicans who once derided the Senate bill are taking a second look, suggesting they may be open to compromise. An amendment introduced by the Senate bill's sponsors included eight bills originating in the House Financial Services Committee, along with other changes meant to woo Democrats. The panel's chairman, Rep. Jeb Hensarling (R-Texas), told reporters Thursday that the manager's amendment didn't include enough input from the House to win him over, however. He's pushing for the Senate to include roughly 30 bills from his panel that earned bipartisan support. "We expect them to be in any bill that goes to the president's desk," Hensarling said, insisting the Senate bill didn't reflect the will of the House. Sarah Flaim, a Hensarling spokeswoman, later said that Financial Services panel is "not making demands on the Senate bill." "This is a list of bills intended to illustrate the hard work of the House on a bipartisan basis," Flaim said. "The Senate has put forth their bill. The House has its bills. It is our expectation that those bills be reconciled through conference -- be it formal or informal." But the coalition of Republicans and Democrats backing the Senate bill have expressed worries about the additional changes demanded by Hensarling. "There will be tremendous pressure on the House to not sink any kind of compromise," said Sen. Heidi Heitkamp (D-N.D.), a co-sponsor of the Senate bill, on Tuesday. "This is a moment in time, and I think House leadership understands that."   Your week ahead: Monday: Senate votes to end debate on bipartisan bill to loosen Dodd-Frank, 5:30 p.m. Tuesday: House Rules Committee: Hearing on three financial services bills, 5 p.m. Wednesday: House Foreign Affairs Committee: Hearing entitled "Modernizing Export Controls: Protecting Cutting-Edge Technology and U.S. National Security," 10 a.m. House Financial Services Committee: Hearing on cryptocurrencies and initial coin offerings, 10 a.m. House Budget Committee: Hearing on Congressional Budget Office oversight, 10 a.m. House Rules Committee: Hearing on two financial services bills, 3 p.m. Thursday: House Financial Services Committee: Hearing on the Committee on Foreign Investment in the United States (CFIUS), 10 a.m. House Financial Services Committee: Hearing entitled "After the Breach: the Monetization and Illicit Use of Stolen Data," 2 p.m. Recap the week with Overnight Finance: Monday: Trump says he won't back down on tariffs | GOP pressure to pull back grows | Trading partners promise payback | Dems divided over bank rules | Cochran to resign next month Tuesday: Cohn resigns from White House | Senate moves forward on Dodd-Frank rollback | House eyes vote on funding bill next week Wednesday: Trump expected to sign tariffs Thursday | GOP fears post-Cohn White House | House conservatives warm to Senate deal to ease Dodd-Frank | SEC wants crypto exchanges to register Thursday: Trump signs tariffs, defying GOP | Republicans look to narrow tariffs | Vote on Dodd-Frank rollback pushed to next week | Trump says Cohn could return to WH   Today's stories Republicans slam Trump's tariffs plan, by Vicki Needham and Jordain Carney Trump: Sanctions on North Korea will stay until deal reached, by Brett Samuels Dems tread cautiously on Trump's tariffs, by Amie Parnes and Jordain Carney Economy adds 313K jobs in February, most since July 2016, by Vicki Needham Cornyn: Trump aide Navarro 'has a lot of wrong ideas when it comes to trade,' by Timothy Cama Goldman Sachs chief Blankfein to retire as early as year's end: WSJ, by Sylvan Lane Mnuchin signals more changes to tariffs plan, by Vicki Needham Warren turns focus to Kushner's loans, by John Bowden     Join The Hill on Wednesday, March 21, for Leadership in Action: The Hill's Newsmaker Series featuring Sen. Lamar Alexander (R-Tenn.) and Reps. Nanette Barragán (D-Calif.), and Joe Crowley (D-N.Y.). RSVP Here     Write us with tips, suggestions and news: slane@thehill.com, vneedham@thehill.com, and njagoda@thehill.com. Follow us on Twitter: @SylvanLane, @VickofTheHill, and @NJagoda.         Did a friend forward you this email? Sign up for Finance Newsletters     Forward Finance Newsletters       Privacy Policy  |  Manage Subscriptions  |  Unsubscribe  |  Email to a friend  |  Sign Up for Other Newsletters   The Hill 1625 K Street, NW 9th Floor, Washington DC 20006 ©2016 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.