Trump has sought to link an end to the family separations to passage of a wider bill on immigration, prompting Democrats to accuse him of using children as hostages.
Trump's state visit to Japan has been punctuated by ceremonial activities, with the US president meeting Japan's new Emperor Naruhito and Empress Masako on Monday-making him the first foreign state leader to be received by the monarch, who ascended the throne this month.
Trump has said privately over the past weeks that he is not interested in getting into another foreign conflict. But two of his senior advisers — Secretary of State Mike Pompeo and national security adviser John Bolton — are especially hawkish on Iran and have used tougher language.
Tuesday January 16
Trump's announcement contradicted his own aides on Monday who said that "cutting payroll taxes is not something under consideration at this time''.
Trump canceled the scheduled meeting on Thursday, saying that it will not happen "based on the tremendous anger and open hostility" displayed in the DPRK's most recent statements.
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Trump spoke by phone with Turnbull shortly after taking office in January. However, the exchange soon reportedly went sour after Turnbull expressed expectation that Trump would honor an Obama-era deal with Australia to help resettle up to 1,250 refugees from Africa, the Middle East and Asia, who are housed in immigration camps on the Pacific island nations of Nauru and Papua New Guinea.
Trump's address to the nation on Wednesday and the Federal Reserve on Thursday making a .5 trillion intervention in short-term funding markets didn't calm the market.
Trump's comments mark a ratcheting up in his criticism of the Federal Reserve and its chairman, Jerome Powell, named to the post by the president in 2017.
Trump's recent tariffs have triggered widespread concern in the world and among the US public about retaliation from China and other US trade partners.