Trump signs rescissions package, closes out week with trip to Scotland

President Donald Trump arrived in Scotland late Friday for a working trip where he is expected to meet with British Prime Minister Keir Starmer amid ongoing trade negotiations between the U.S. and the U.K., as well as visit several of his properties there. 

“We’re meeting with the prime minister tonight,” Trump told reporters Friday before departing for Scotland. “We’re going to be talking about the trade deal that we made, and maybe even improve it.”

“We want to talk about certain aspects, which is going to be good for both countries,” Trump said. “More fine-tuning. Also, we’re going to do a little celebrating together, because, you know, we got along very well. U.K.’s been trying to make a deal with us for like, 12 years, and haven’t been able to do it. We got it done, and he’s doing a very good job, this prime minister. Good guy.”

TRUMP HEADS TO SCOTLAND TO TALK GOLF, POLITICS AND TRADE

In May, the U.S. and the U.K. announced the two countries had agreed to a major trade deal, which marked the first historic trade negotiation signed following Liberation Day, when Trump announced widespread tariffs for multiple countries April 2 at a range of rates.

Trump, who is slated to remain in Scotland until Tuesday, is also scheduled to visit his golf courses in Turnberry and Aberdeen while abroad. 

Here’s also what happened this week:

Federal Reserve visit 

Trump visited the Federal Reserve headquarters Thursday, as he has ramped up digs at Federal Reserve Chairman Jerome Powell. 

Trump accompanied other administration officials for a tour of the headquarters, following $2.5 billion in renovations to the building. The massive project has attracted scrutiny from lawmakers and members of the Trump administration, including the president, who suggested the huge renovation could amount to a fireable offense. 

“I think he’s terrible … I didn’t see him as a guy that needed a palace to live in,” Trump said July 16. “But the one thing I would have never guessed is that he would be spending two and a half billion dollars to build a little extension onto the Fed.”

FOUR KEY TAKEAWAYS FROM TRUMP’S VISIT TO THE FEDERAL RESERVE WITH POWELL

On Thursday, the two briefly sparred over the cost of the renovation, but Trump told reporters afterward that the two had a “good meeting” and that there was “no tension.” Trump also shut down speculation he might oust Powell, claiming such a move would be unnecessary. 

The Federal Reserve, the United States central bank, oversees the nation’s monetary policy and regulates financial institutions. 

Trump historically has railed against Powell, calling him names like “numskull” and “too late.” Likewise, Trump has expressed ire toward Powell for ignoring requests to lower interest rates. 

“Well, I’d love him to lower interest rates, but other than that, what can I tell you?” Trump said Thursday. 

Rescissions package signing

Trump signed into law Thursday his roughly $9 billion rescissions package to claw back already approved federal funds for foreign aid and public broadcasting. 

The rescissions measure revoked nearly $8 billion in funding Congress already approved for the U.S. Agency for International Development (USAID), a formerly independent agency that provided impoverished countries aid and offered development assistance.

The rescissions package also rescinds more than $1 billion from the Corporation for Public Broadcasting (CPB), which provides federal funding for NPR and PBS.

TRUMP SIGNS $9B RESCISSIONS PACKAGE INTO LAW, REVOKING FUNDING FOR FOREIGN AID, NPR