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

Mitigating Risks In The Bond Market: Strategies For Uncertain Times

In today's volatile bond market, characterized by liquidity concerns and rising interest rates, effective risk managemen... Read more

UK High Street Banks Rake In £9.2 Billion In Interest On BoE Reserves: A Closer Look

In the intricate world of finance, where numbers often tell compelling stories, one recent figure stands out: £9.2 bill... Read more

Powell's Pledge: Federal Reserve Chair Signals Prolonged Period Of Higher Rates

Federal Reserve Chair Jerome Powell's recent statements have stirred significant interest in financial markets, particul... Read more

European Funds Body Throws Support Behind French Capital Markets Union: Implications For Brexit-Era Finance

In a significant development for European finance, a European funds body recently threw its support behind the French ca... Read more

Federal Reserve's Rate Decision: Navigating Economic Uncertainty

The recent decision by the Federal Reserve to adjust interest rates has sparked significant interest and speculation amo... Read more

Building Bridges: Strengthening Investor Confidence Through Enhanced Risk Data In Emerging Markets

In the dynamic landscape of emerging markets, investor confidence plays a pivotal role in driving economic growth and pr... Read more