Jan 10, 2018

Trump expected to waive Iran sanctions

President Donald Trump. Photo: Chip Somodevilla / Getty Images

President Trump is expected to waive sanctions on Iran this week under the terms of the Iran nuclear deal, the AP reports citing U.S. officials.

Why it matters: By not immediately reimposing the sanctions, Trump is avoiding a step that could effectively end the Iran nuclear deal. But he's expected to add new sanctions on Iranian businesses and people, some of which apply to entities that saw their sanctions scrapped under the deal. That "could test Tehran’s willingness to abide by its side of the bargain," per AP.

Earlier this week, we reported that Trump’s national security team was working to convince him to waive the sanctions.

The reason that might make sense: Trump has expressed interest in canceling the nuclear deal, but the protests that swept Iran and have been cheered on by the Trump administration could complicate the timing. This is also a sign Trump may be willing to buy time and trust Congress to agree on legislation that he believes will strengthen the deal.

Go deeper: How the Iranian protests could affect Trump's next decisions

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  1. Global: Total confirmed cases as of 12 p.m. ET: 741,030 — Total deaths: 35,305 — Total recoveries: 156,838.
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  4. Public health updates: — White House COVID-19 response coordinator Dr. Deborah Birx said the 100,000 to 200,000 U.S. coronavirus death toll estimate is based on the presumption that citizens follow social-distancing guidelines "almost perfectly."
  5. Business latest: Macy's will furlough the majority of it's workers this week, as the chain's stores remain closed.
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Macy's to furlough 130,000 employees

Macy's flagship store in New York on March 24, 2020. Photo: John Lamparski/NurPhoto via Getty Images

Macy's will furlough the majority of it's workers this week, as the chain's stores remain closed due to the coronavirus outbreak, the Wall Street Journal reports.

Details: Macy's sales have seen a drastic decline, having shuttered its stores on March 18. The company employs about 130,000 people, per the Journal. It will retain workers for its e-commerce operations, distribution and call centers. The chain told staff it will continue to cover 100% of its employees health care premiums at least through May.

Go deeper: The coronavirus pandemic is hitting Main Street