Trump Today: Trump Today: President Directs McGahn To Defy Subpoena As He Blasts Deutsche Bank Report

President Donald Trump

President Donald Trump on Monday directed former White House Counsel Don McGahn to defy a congressional subpoena, as he slammed a New York Times report about Deutsche Bank transactions involving himself and son-in-law Jared Kushner.

MCGAHN TESTIMONY BLOCKED

Citing an opinion from the Justice Department, current White House Counsel Pat Cipollone told House Judiciary Committee Chairman Jerrold Nadler that Trump had directed McGahn not to appear at the panel’s hearing scheduled for Tuesday.

The committee had subpoenaed McGahn and was planning to question him about special counsel Robert Mueller’s Russia report. “The Democrats do not like the conclusion of the Mueller investigation — no collusion, no conspiracy, and no obstruction — and want a wasteful and unnecessary do-over,” White House press secretary Sarah Sanders said in a statement.

Trump has publicly denied asking McGahn to fire the special counsel since the release of his report.

Also see: Ex-White House counsel Don McGahn rebuffed Trump’s request to say president didn’t obstruct justice.

TRUMP PUSHES BACK AT TIMES

Following the Times’ story — which said Deutsche Bank DB, -1.98%   executives ignored employees’ recommendations about reporting suspicious activity — Trump blasted the paper and said it and other media keep writing “phony” stories about him.

The report said that anti-money-laundering specialists recommended in 2016 and 2017 that multiple transactions involving legal entities controlled by Trump and Kushner be reported to a federal financial-crimes watchdog. But reports were never filed. Deutsche Bank denied the report, saying “at no time was an investigator prevented from escalating activity identified as potentially suspicious.”

The piece cited two former employees as saying they had raised concerns about transactions involving companies linked to prominent Russians.

Responding to Trump’s tweets, the author of the Times story said Deutsche Bank was the only bank willing to lend to Trump for 20 years “because of his pattern of defaults and the bank’s hunger for growth in the US.”

Now read: Trump sues to block banks from turning financial records over to House.

BIDEN ATTACK

As Trump prepared to hold an evening rally in Montoursville, Pa., he took to Twitter to criticize Biden, two days after the former vice president held his own rally in the Keystone State.

“Looks like Bernie Sanders is history. Sleepy Joe Biden is pulling ahead and think about it, I’m only here because of Sleepy Joe and the man who took him off the 1% trash heap, President O! China wants Sleepy Joe BADLY!” said Trump.

Biden is leading the crowded field of Democrats for the party’s 2020 nomination, and went after Trump in a Saturday event in Philadelphia.

See: As Trump sets sights on Pennsylvania, Biden hits him as ‘divider in chief.’

IRAN TALKS ‘WHEN THEY ARE EVER READY’

A day after warning Iran it would meet its “official end” if it wanted to fight with the U.S., Trump tweeted about what he called a false report that the U.S. was seeking to negotiate with Tehran.

“Iran will call us if and when they are ever ready. In the meantime, their economy continues to collapse - very sad for the Iranian people!” Trump said.

Trump himself has said Iran “should call, and if they do, we’re very open to [talking] to them.”

Iran said it would resume enriching uranium at higher levels if a new nuclear deal is not reached by July 7, the Associated Press reported. Trump decided last year to withdraw the U.S. from the 2015 nuclear accord between Iran and world powers and impose wide-reaching sanctions, including on Iranian oil exports that are crucial to its economy, AP said.

Sign up for Trump Today and other MarketWatch newsletters.

Receive these updates via email. Sign up to get our daily summary of "Everything President Trump did today." Sign up here.

RECENT NEWS

US Stock Market Pulls Back, Ending Multi-Day Rally Amid Inflation Jitters

The US stock market experienced a significant pullback today, ending a multi-day rally as investors grew increasingly ji... Read more

Investor Confidence Boosted As BT's CEO Allison Kirkby Challenges Short Sellers And Raises Dividend

BT Group’s shares have surged by 17% following a series of bold announcements by CEO Allison Kirkby. Kirkby’s assert... Read more

Market Optimism As S&P500 Briefly Peaks Amid Falling Inflation

The S&P500 index saw a brief all-time high as new data revealed a drop in America's annual inflation rate to 3.4% in... Read more

Sony's Strategic Share Buyback: Impact On Stock Performance

In a bold move signaling confidence in its financial stability and future growth prospects, Sony recently announced a si... Read more

The Hidden Costs Of Investing In BDCs

Business Development Companies (BDCs) are often lauded for their attractive yields, appealing to investors seeking subst... Read more

The Case For Hedging Foreign Exchange Exposure Amidst Economic Divergence

In today's global economy, characterized by increasing economic divergence among major nations, investors face a dauntin... Read more