Trump: Cooperation with Democrats Could Expand Much More Than Expected

[Financial News]  

In a phone interview with CNBC on the 4th (local time), U.S. President Donald Trump said he could work with the next Congress, in which Democrats will hold the majority, “in far more areas than people think.”
The Republicans suffered a crushing defeat in the midterm elections the previous day, despite an overwhelming spending blitz.
There had been concerns that uncertainty could intensify if President Trump, who had previously raised claims of election fraud, refused to accept the results of this election. But he conceded defeat and said he would work with the Democratic Congress.
His first remarks in front of the cameras that day were also an acknowledgment of the Republicans’ defeat and a pledge to work with Congress.
CNBC projects that Democrats will win at least 250 seats in the House, while Republicans are expected to secure at least 160. In the Senate, Democrats are projected to win at least 54 seats and Republicans at least 42.
Democrats would thus retake both chambers of Congress.
Although President Trump deflected blame by saying it was the Republican Party, not him, that had lost, he conceded the election results and said he would work with the new Congress controlled by Democrats, sending the New York stock market sharply higher.
International oil prices also plunged more than 8% on hopes that the war in Iran could end early, pushing Brent crude for delivery next January below $100 a barrel.

[email protected] Song Kyung-jae Reporter