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The Pronk Pops Show 983, October 13, 2017, Story 1: Trump To Trash Iranian Nuclear Agreement If Congress Does Not Act — Videos — Story 2: Trump’s Timid Tiny Targeted Tax Temporary Cut –Videos — Story 3: Consumer Sentiment Hits Thirteen Year High — Videos —

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Image result for President Trump DECERTIFIES the Iran Nuclear Deal

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Story 1: Trump Administration Does Not Certify Iran Nuclear  Agreement If Congress Does Not Act — Videos —

John Bolton on Breitbart News Daily (10/16/2017)

Trump addresses strategy on Iran nuclear deal (full speech)

President Trump DECERTIFIES the Iran Nuclear Deal | Full Speech 10/13/17

Trump on North Korean nuclear threat, Iran nuclear deal

Benjamin Netanyahu commends Trump’s decision on Iran

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Lou Dobbs Tonight 10/14/17 October 14, 2017|Fox Business Highlights

John Bolton on Iran: US heading in the right direction

Amb. Bolton: We’re down to two options with North Korea

How Powerful Is Iran?

Why Does Iran Hate The U.S.?

Why Does The U.S. Love Israel?

IRGC commander: Iran able to target US interests anywhere in world

How Iran’s Revolutionary Guards Financial Empire Funds Terrorism

Iran’s revolutionary guard explained

Iran Defense Min: US, Israel dare not attack, they would have if they could

World War 3: ‘Only two North Korea options – ELIMINATE Kim Jong-un or eliminate weapons’

Sen. Bob Corker: Donald Trump Has ‘Publicly Castrated’ Rex Tillerson | The Last Word | MSNBC

Gingrich: ‘The Alligators Are Really Unhappy’ That Trump Is ‘Draining the Swamp’

Newt Gingrich calls Trump “stunningly effective,” and reporters a “bunch of idiots”

Condoleezza Rice on Tillerson, North Korea, Iran deal

John Bolton on Iran, North Korea, and Pres Trump.

John Bolton: Why Iran nuke deal is “worst appeasement since Hitler” “catastrophic blunder”

What is the strategy to Trump decertifying Iran deal?

How Trump’s de-certification of the Iran nuclear deal could affect businesses

President Trump DECERTIFIES the Iran Nuclear Deal | Full Speech 10/13/17

Donald Trump decertifies Iran nuclear deal

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Noam Chomsky on North Korea & Iran: Historical record shows U.S. favors violence over diplomacy

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The Iranian Revolutionary Guard

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Trump decertifies Iran nuclear deal, slaps sanctions on IRGC in broadside at ‘radical regime’

President Trump announced Friday he will decertify the 2015 Iran nuclear deal, saying he believes the “radical regime” has committed multiple violations of the agreement as he kicked a decision over whether to restore sanctions back to Congress.

“I am announcing today that we cannot and will not make this certification,” Trump said during a speech at the White House. “We will not continue down a path whose predictable conclusion is more violence, more terror, and the very real threat of Iran’s nuclear breakthrough.”

Friday’s announcement does not withdraw the United States from the Iran deal, which the president called “one of the worst and most one-sided transactions the United States has ever entered into.”

“In the event we are not able to reach a solution working with Congress and our allies, the agreement will be terminated,” he said. “It is under continuous review and our participation can be canceled by me as president at any time.”

Speaking to reporters ahead of Trump’s speech, Secretary of State Rex Tillerson said the president will use the Congressional Iran Nuclear Agreement Review Act to decertify the agreement, which was negotiated over 18 months by the Obama administration.

Congress could then decide to restore sanctions, do nothing or make changes to the law. Trump is pressing Congress to work to fix the deal’s “flaws.”

IRAN NUCLEAR DEAL: WHAT IS IT?

In making his decision, Trump said, “Iran is not living up to the spirit of the deal.” Among other alleged violations, Trump said Iran failed to meet expectations in its operation of advanced centrifuges and intimidated international inspectors into not using their full authority.

The president also slammed sunset provisions in the deal itself, complaining that the U.S. got a “weak inspection” in exchange for a “short-term” delay in Iran’s nuclear progress.

Trump, meanwhile, announced plans to take action against the Islamic Revolutionary Guard Corps, authorizing the Treasury Department to impose targeted sanctions against “its officials, agents, and affiliates.”

“Execution of our strategy begins with a long overdue step of imposing tough sanctions on Iran’s Islamic Revolutionary Guard Corps,” Trump said. “The revolutionary guard is the Iranian supreme leader’s corrupt personal terror force and militia.”

In his broadside against the Iranian regime, the president said it “remains the world’s leading state sponsor of terrorism,” accusing it of providing assistance to Al Qaeda, the Taliban, Hezbollah and other terrorist networks.

The president accused Iran of developing missiles that threaten American troops and allies and imprisoning Americans “on false charges.”

“Given the regime’s murderous past and present, we should not take lightly its sinister vision for the future,” Trump said. “The regimes two favorite chants are ‘Death to America’ and ‘Death to Israel.’”

The president did not designate the IRGC a terrorist group, something that had been rumored ahead of the announcement. In the run-up to the decision, Iranian officials threatened consequences if that occurred.

“If the news is correct about the stupidity of the American government in considering the Revolutionary Guards a terrorist group, then the Revolutionary Guards will consider the American army to be like Islamic State all around the world,” IRGC commander Mohammad Ali Jafari said Sunday, according to Reuters.

The National Resistance Council of Iran, an offshoot organization of the People’s Mojahedin Organization of Iran (MEK), praised Trump’s move in support of the de-certification.

Mrs. Maryam Rajavi, President-elect of the National Council of Resistance of Iran (NCRI), welcomed the new U.S. policy to “condemn the IRGC’s gross violations of human rights” in Iran.

“The regime’s deadly meddling in the region and concessions made to it in the course of the JCPOA (Joint Comprehensive Plan of Action) have been disastrous, and for which the people of Iran and the region have paid heavily,” Rajavi said in a statement provided to Fox News.

“The IRGC is a prime means of suppression, execution, and torture in Iran, spreading terrorism throughout the world, war mongering and massacre in the region, the drive for acquiring nuclear weapons, and the increase in the proliferation of ballistic missiles,” she said. “If the IRGC had been recognized as a terrorist entity earlier and dealt with accordingly, the current situation in the region in general, and Iraq, Syria, Lebanon, Yemen, and Afghanistan in particular, would have been totally different.”

Trump had been facing a Sunday deadline to notify Congress whether Iran is complying with the accord.

Republicans are calling for new legislation that addresses the “flaws” of the agreement.

“Lawmakers need to do now what we couldn’t do two years ago: unite around an Iran strategy that truly stops Iran’s nuclear weapons program and empowers the United States and our allies to combat the full spectrum of Iran’s imperial aggression,” Sen. Tom Cotton, R-Ark., said in a statement.

Democrats accused the president of making matters worse. Former Obama administration official Ben Rhodes, who helped sell the Iran deal, said the president is “provoking” a crisis with his speech.

“Hard to overstate how irresponsible it is for Trump to risk blowing up Iran Deal by demanding rest of world justify his campaign rhetoric,” Rhodes tweeted.

Fox News’ Serafin Gomez, Mike Emanuel and Perry Chiaramonte and The Associated Press contributed to this report.

http://www.foxnews.com/politics/2017/10/13/trump-to-decertify-iran-nuclear-deal.html

Trump says he has decided to decertify Iran nuclear deal

WASHINGTON, Oct 13 (Reuters) – U.S. President Donald Trump struck a blow against the 2015 Iran nuclear agreement on Friday in defiance of other world powers, choosing not to certify that Tehran is complying with the deal.

“Based on the factual record I have put forward, I am announcing today that we cannot and will not make this certification,” Trump said at a White House event as he unveiled a tougher strategy against Tehran.

Trump’s move does not pull the United States out of the agreement, formally known as the JCPOA. (Reporting by James Oliphant; Writing by Tim Ahmann and Makini Brice; Editing by James Dalgleish)

Read more: http://www.dailymail.co.uk/wires/reuters/article-4978524/Trump-says-decided-decertify-Iran-nuclear-deal.html#ixzz4vS0Hglgq

Bolton: ‘Unfixable’ Iran Deal Must Be Abandoned

Image: Bolton: 'Unfixable' Iran Deal Must Be Abandoned
Ambassador to the United Nations John Bolton (Alex Brandon/AP)

By Brian Freeman   |   Monday, 16 Oct 2017 03:27 PM

 Arguments over the Iran deal have been dominated by peripheral issues, and obscured the fact there are no real “fixes” that can be made to turn it into a good agreement, former U.S. Ambassador to the United Nations John Bolton wrote in a Monday op-ed in The Wall Street Journal.

Now that President Donald Trump has announced the U.S. will stay in the Joint Comprehensive Plan of Action, while refusing to certify under American law the deal is in the national interest, Congress will have to decide what next step to take, with many offering proposed changes.

Bolton insisted it should be remembered for those who say the agreement must be preserved because Iran is not violating the deal “it is neither dishonorable nor unusual for countries to withdraw from international agreements that contravene their vital interests.”

 Such an example, he said, was President George W. Bush’s notice of withdrawal in 2001 from the 1972 Anti-Ballistic Missile Treaty, even though it was not clear Russia was violating it. What was important was the agreement was no longer strategically wise for the U.S.

Bolton said the Western powers’ collapse from their original insistence it would not even negotiate unless Iran agreed to suspend all enrichment-related activity was a grave error, because regardless of the treaty’s limits, “Iran benefits from continued enrichment, research and development by expanding the numbers of scientists and technicians it has with firsthand nuclear experience, [which] will be invaluable to the ayatollahs come the day they disdain any longer to conceal their real nuclear strategy.”

 

Iran Nuclear Agreement Review Act of 2015

From Wikipedia, the free encyclopedia

The Iran Nuclear Agreement Review Act of 2015 (H.R. 1191Pub.L. 114–17) is a bill that was passed by the US Congress in May 2015, giving Congress the right to review any agreement reached in the P5+1 talks with Iran aiming to prevent Iran from obtaining nuclear weapons.

The bill passed in the Senate by 98 to 1 (only Tom Cotton voted against), and then passed in the House by a vote of 400 to 25 on May 14.[1] President Barack Obama had threatened to veto the bill, but eventually a version was arrived at that had enough support to override any veto and Obama did not try to veto it.

Larry Klayman filed a lawsuit, alleging that the law as an unconstitutional abrogation of the Senate’s Treaty Power. The lawsuit was dismissed for lack of standing.[2]

See also

References

 

Story 2: Trump’s Timid Tiny Targeted Tax Temporary — Postcard Propaganda — No Tax Returns With Fair Tax Less — Videos —

George Stephanopoulos GRILLS Treasury Secretary Steven Mnuchin on Trump’s Tax Plan

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Mnuchin Says Parts of Tax Plan Would Be Temporary

Treasury secretary hopeful a bill will be on president’s desk by December

Treasury Secretary Steven Mnuchin, right, speaks during the Institute of International Finance annual membership meeting in Washington, D.C, on Friday.
Treasury Secretary Steven Mnuchin, right, speaks during the Institute of International Finance annual membership meeting in Washington, D.C, on Friday. PHOTO: ZACH GIBSON/BLOOMBERG NEWS

WASHINGTON—Treasury Secretary Steven Mnuchin said Friday that some parts of a Republican plan to overhaul the tax code could be permanent while others would be temporary.

Mr. Mnuchin, speaking at a conference of international bankers, also said he expects Congress can have a bill to the president’s desk by the beginning of December, an aggressive timeline.

“There’s tax cuts that absolutely have to be permanent,” he said when asked whether the administration will be able to make tax cuts permanent. For example, moving to a territorial tax system, which would allow companies to repatriate their future foreign profits without paying U.S. taxes, would be very difficult to unwind, he said.

On the other hand, the current GOP proposal includes a provision that would allow businesses to immediately write off investments for at least five years with little certainty beyond that.

“That’s to incent people to invest money now and it’s a lot cheaper than giving it to them for 10 years,” Mr. Mnuchin said.

That is cheaper for the federal budget in the short run, but would do much less to improve the economy, according to the conservative-leaning Tax Foundation. In an analysis earlier this month, the group estimated that temporary investment writeoffs would lead to less than one-quarter of the economic growth of the full and permanent provision that House Republicans had proposed last year.

GOP May Backpedal on State and Local Taxes
Republicans in Congress are considering tweaking their tax-overhaul plan to preserve some federal deductions for state and local taxes. WSJ’s Gerald F. Seib explains what is next for tax reform. Photo: AP

The size of tax cuts, and the extent to which they are made permanent, will be constrained by Senate rules that limit the ability of Republicans to increase budget deficits. Those rules apply under the fast-track procedure that will let the GOP pass a tax plan without any Democratic votes.

The party faces the challenge of fitting its tax goals—more than $5 trillion of rate cuts over a decade—into a budget plan that will likely allow for $1.5 trillion in bigger deficits over a decade and no additional deficits beyond that 10-year window. Doing so would require eliminating or shrinking some cherished tax breaks and could force the GOP to make some tax breaks temporary, even if they plan on coming back later to extend them.

In 2001 and 2003 under President George W. Bush, Congress cut individual taxes and set a 2010 sunset date. Most of those cuts were extended permanently in 2013 by large bipartisan majorities and President Barack Obama.

That would be tougher to do this time around, because Republicans want to make business tax cuts permanent up front, to provide companies with certainty for decision-making.

A combination of permanent business tax cuts with temporary individual changes could be hard to sell to lawmakers and to voters. Republicans will likely consider pairing a permanent territorial tax system for businesses with a permanently higher standard deduction or child tax credit for individuals, said Rohit Kumar, a leader of PwC’s Washington National Tax Services.

“You want, at least, to have something of similar quality be made permanent on the individual side,” said Mr. Kumar, a former aide to Senate Majority Leader Mitch McConnell (R., Ky.)

Mr. Mnuchin and other Trump administration officials have maintained the plan will generate enough economic growth to offset the costs of tax cuts, and may even reduce the deficit, a claim some tax analysts have said is very unlikely. Congressional Republicans’ schedule isn’t quite as aggressive as Mr. Mnuchin’s. The Senate is set to adopt its budget as soon as next week. Then, the House and Senate must agree on a budget.

After that, the House Ways and Means Committee plans to release a detailed bill. House Speaker Paul Ryan (R., Wis.) said this week that he hopes the House will vote on a tax bill in November and said he would keep lawmakers in Washington until Christmas, if needed, to work through a final version with the Senate.

Republican Sens. David Perdue of Georgia and Tim Scott of South Carolina told major donors, including billionaire David Koch, on Friday in New York that the effort to overhaul the tax code is proving slower than expected. The donors are part of a network of political and policy groups steered by the Koch brothers.

“I’m very concerned,” Mr. Perdue said about the ability to complete a tax bill on a timeline that has already slipped from November to December. “We have a ways to go yet, mainly on deductions. And mainly on the individual side.”

Both acknowledged the efforts are concentrated on swaying “three or four” Senate Republicans and then reconciling the Senate and House plans.

“Believing that we’re going to get this done by Thanksgiving is unrealistic,” Mr. Scott said. “By the time we get this issue, we’ll probably be bleeding into middle of December, and we’re going to use the backstop of Christmas, end of the year, to finish the process.”

https://www.wsj.com/articles/mnuchin-says-parts-of-tax-plan-would-be-temporary-1507903361

Story 3: Consumer Sentiment Hits Thirteen Year High — Videos —

Consumer sentiment in US surges to 13-year high

Good Question: How Is Consumer Confidence Measured?

What is the University of Michigan Consumer Sentiment Index?

09: INDEX OF CONSUMER SENTIMENT

 

Consumer Sentiment in U.S. Unexpectedly Surges to 13-Year High

U.S. consumer sentiment unexpectedly surged to a 13-year high as Americans’ perceptions of the economy and their own finances rebounded following several major hurricanes, a University of Michigan survey showed Friday.

HIGHLIGHTS OF MICHIGAN SENTIMENT (OCTOBER, PRELIMINARY)

  • Sentiment index rose to 101.1 (est. 95), highest since Jan. 2004, from 95.1 in Sept.
  • Current conditions gauge, which measures Americans’ perceptions of their finances, jumped to 116.4, highest since Nov. 2000, from 111.7
  • Expectations measure increased to 91.3, highest since Jan. 2004, from 84.4

Key Takeaways

The jump in sentiment, which was greater than any analyst had projected, may reflect several trends: falling gasoline prices following a hurricane-related spike; repeated record highs for the stock market; a 16-year low in unemployment; and post-storm recovery efforts driving a rebound in economic growth.

The advance in the main gauge spanned age and income subgroups as well as partisan views, according to the report. Almost six out of every 10 consumers thought the economy had recently improved in early October, the university said.

Not all measures in the survey showed big gains: the share of consumers reporting improved finances held steady at about half, while the proportion expecting gains in their financial situation fell slightly to 40 percent.

Official’s Views

“While the early October surge indicates greater optimism about the future course of the economy, it also reflects an unmistakable sense among consumers that economic prospects are now about as good as could be expected,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement. “Indeed, nothing in the latest survey indicates that consumers anticipate an economic downturn anytime soon — which contrarians may consider a clear warning sign of trouble ahead.”

Other Details

  • 83 percent of respondents saw buying conditions for household durables as favorable, most in more than a decade; positive vehicle-buying attitudes at 75 percent, highest since 2004
  • Consumers saw inflation rate in the next year at 2.3 percent after 2.7 percent the prior month
  • Inflation rate over next five to 10 years seen at 2.4 percent after 2.5 percent in September

https://www.bloomberg.com/news/articles/2017-10-13/consumer-sentiment-in-u-s-unexpectedly-surges-to-13-year-high

A:There isn’t a difference between consumer confidence and consumer sentiment. Both terms are used to refer to the degree of confidence consumers feel about the overall economy and their personal financial state. Consumer confidence or sentiment dictates the level of spending that consumers will engage in. A high level of consumer confidence means that consumers, generally feel good about their financial condition, especially their ability to obtain and keep jobs. If consumer confidence is relatively high, then consumers are going to increase the amount of money that they spend. On the other hand, if consumer confidence is relatively low, then consumers are going to spend less.

Consumer confidence is measured by two indexes: the Consumer Confidence Index (CCI) and the Michigan Consumer Sentiment Index (MCSI). The CCI is a survey conducted by a not-for-profit research organization for businesses that distributes information about management and the marketplace. This organization is sometimes known as the Conference Board.The Conference Board usually surveys 5000 households from the country’s nine census region. The survey usually covers five major sections:

  1. Current business conditions
  2. Business conditions for the next six months
  3. Current employment conditions
  4. Employment conditions for the next six months
  5. Total family income for the next six months.

The MCSI is a telephone survey conducted by the University of Michigan. The purpose of the survey is to collect information about consumer expectations regarding the overall economy. The MCSI also covers five sections:

  1. Personal financial situation now and a year ago
  2. Personal financial situation one year from now
  3. Overall financial condition of the business for the next twelve months
  4. Overall financial condition of the business for the next five years
  5. Current attitude toward buying major household items.

For more, read Consumer Confidence: A Killer Statistic.

Read more: What’s the difference between consumer confidence and consumer sentiment? http://www.investopedia.com/ask/answers/09/consumer-confidence-sentiment-difference.asp#ixzz4vRn0gPtk
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The Pronk Pops Show 969, September 21, 2017, Story 1: President Trump Signs Executive Order Targeting Institutions and People Doing Business With North Korea — Communist China Trades With and Enabled North Korea Nuclear Weapon and Missile Programs — Waiting For Embargo Banning All Trade and Investment in Communist China — Videos — Story 2: Fed To Start Quantitative Tightening In October 2017 by Selling Some ($10 Billion Per Month or $120 Billion Per Year) of $4,500 Billion Bond Portfolio As U.S. Economy Slows in 2017? — Videos

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 Story 1: President Trump Signs Executive Order Targeting Institutions and People Doing Business With North Korea — Communist China Trades With and Enabled North Korea Nuclear Weapon and Missile Programs — Waiting For Embargo Banning All Trade and Investment in Communist China — Videos —

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BREAKING NEWS: President Donald Trump Announces New Sanctions on North Korea through Executive Order

Trump: China has told its banks to stop doing business with North Korea

North Korea: Trump signs new order to widen sanctions

Trump hints at ending US trade with all North Korea partners | Time To Play Trump Card

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China Pulls Trade From North Korea! Russia RESPONDS BY Increasing Trade by 73%!

John Bolton calls for ‘sweeping’ set of sanctions on China

United Nations funding mechanism needs to be changed: John Bolton

John Bolton: We are at a ‘crisis point’ with North Korea

Trump administration undercuts his message on North Korea

Former CIA Director James Woolsey: North Korea Has Been Able To Hit Power Grid For Years | CNBC

Ralph Peters on North Korea: China will never help us

Peters: People don’t understand how desperate North Korea is

China getting away with ‘trade murder’: Ralph Peters

What Are Economic Sanctions?

Chinese sanctions will help US trade deficit, but could backfire: Andrew Peek

Gordon Chang: China understands the effects of US sanctions

Lou Dobbs : Is China helping North Korea create nuclear missiles? : 5/30/2017

Gordon Chang: NKorea is forcing the United States to act

Trump unplugging Chinese banks will end China’s economy: Gordon Chang

BREAKING: Putin To Trump – I will arm your enemies if you send arms to mine

What Is Life Really Like In North Korea?

Why China Supports North Korea

Where Are The World’s Nuclear Weapons Stored?

What Countries Have Nuclear Weapons?

Trump signs order aiming to cut off funding for North Korean missile program

  • President Donald Trump signs an executive order to expand his authority to target people and institutions doing business with North Korea.
  • With the action, he aims to reduce funding going to the dictatorship’s nuclear and missile programs.

President Donald Trump speaking as he meets with South Korean president Moon Jae-in during the U.N. General Assembly in New York, September 21, 2017.

Trump unveils order aiming to cut off funding for North Korean missile program  

President Donald Trump on Thursday signed an executive order expanding his authority to target people and institutions that do business with North Korea.

Through the measure, the president aims to cut off the communist dictatorship’s funding and deter its nuclear and missile ambitions amid a string of recent tests and provocations.

“North Korea’s nuclear weapons and missile development is a grave threat to peace and security in our world and it is unacceptable that others financially support this criminal, rogue regime,” Trump said before a meeting with Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in. “Our new executive order will cut off sources of revenue that fund North Korea’s efforts to develop the deadliest weapons known to humankind. The order enhances the Treasury Department’s authorities to target any individual or entity that conducts significant trade in goods, services or technology with North Korea.”

The isolated nation has tested ballistic missiles and an apparent hydrogen bomb in recent weeks in the face of international economic sanctions and warnings. On Tuesday, Trump told the U.N. General Assembly that the U.S. “will have no choice but to totally destroy North Korea” if it is forced to defend itself or its allies.

President Donald Trump speaking as he meets with South Korean president Moon Jae-in during the U.N. General Assembly in New York, September 21, 2017.

Kevin Lamarque | Reuters
President Donald Trump speaking as he meets with South Korean president Moon Jae-in during the U.N. General Assembly in New York, September 21, 2017.

Last week, the U.N. Security Council unanimously passed fresh measures to punish the communist dictatorship economically, with the support of China and Russia. Trump has repeatedly pressed China, North Korea’s only major ally, to do more to force Pyongyang to abandon its nuclear ambitions.

Trump on Thursday highlighted that China’s central bank has told its banks to strictly implement U.N. sanctions. He thanked President Xi Jinping for what he called a “bold” and “somewhat unexpected” move.

On Tuesday, he also commended Beijing for signing on to two recent sanctions packages enacted by the Security Council. The U.S. sees China’s commitment to sanctions as crucial to forcing Pyongyang to end its nuclear and missile programs.

Trump appeared to try to quash speculation that he is targeting China or other North Korean trading partners with the action.

“I want to be clear — the order targets only one country, and that country is North Korea,” he said.

Trump said the order identifies industries including textiles, fishing, information technology and manufacturing, which the Treasury Department can target with “strong sanctions.” The president added that the order includes “measures designed to disrupt” shipping and trade networks to reduce North Korea’s ability to avoid the sanctions.

Earlier, national security advisor H.R. McMaster said Trump would take more action to stop North Korea “short of war.” Trump’s advisors have repeatedly said they prefer to use diplomatic methods to curb North Korea’s aggression.

The president again said that he seeks the “complete denuclearization” of North Korea.

Trump had separate bilateral meetings scheduled with both Moon and Abe on Thursday.

https://www.cnbc.com/2017/09/21/trump-to-make-north-korea-announcement-mcmaster-says.html

 

Trump announces new economic sanctions targeting North Korea over nuclear program

 September 21 at 12:45 PM

President Trump announced an executive order on Sept. 21 to enforce economic sanctions on North Korea and countries that do business with the “rogue regime” of North Korea. (The Washington Post)

NEW YORK — President Trump announced an executive order Thursday granting the Treasury Department additional authority to enforce economic sanctions on North Korea and target foreign companies and individuals that do business with the rogue nation in Northeast Asia.

Trump said the new powers aim to cut off international trade and financing that dictator Kim Jong Un’s regime uses support its nuclear and ballistic missile weapons programs. The president also said that Chinese President Xi Jinping had ordered Chinese banks to cease conducting business with North Korean entities. Trump called the move “very bold” and “somewhat unexpected,” and he praised Xi.

“North Korea’s nuclear program is a grave threat to peace and security in our world, and it is unacceptable that others financially support this criminal, rogue regime,” Trump said in brief public remarks during a meeting with the leaders of South Korea and Japan to discuss strategy to confront Pyongyang.

He added that the United States continues to seek a “complete denuclearization of North Korea.”

He added that the order will give Treasury Secretary Steve Mnuchin the “discretion to target any foreign bank knowingly facilitating specific transactions tied to trade with North Korea.”


President Trump meets with South Korean president Moon Jae-in during the U.N. General Assembly in New York on Thursday. (REUTERS/Kevin Lamarque)

A White House fact sheet said the executive order imposes a ban on airplanes or ships that have visited North Korea will be banned for 180 days from visiting the United States, a move to crack down on illicit trade.

“This significantly expands Treasury’s authority to target those who enable this regime…wherever they are located,” Mnuchin said.

Trump’s announcement came as he has sought to rally international support for confronting Pyongyang during four days of meetings here at the United Nations General Assembly. In a speech to the world body on Tuesday, Trump threatened to “totally destroy” the North if necessary and referred derisively to Kim as “rocket man.” But the president and his aides have emphasized that they are continuing to do what they can to put economic and diplomatic pressure on the North in order to avoid a military conflict.

“We are witnessing a very dangerous confrontation spiral,” Russian Foreign Minister Sergey Lavrov said in a speech to the United Nations, filling in for President Vladimir Putin, who skipped the forum. “We resolutely condemn the nuclear missile adventures of Pyongyang in violation of Security Council resolutions. But military hysteria is not just an impasse, it’s disaster…There is no alternative to political and diplomatic ways of settling the nuclear situation on the Korean Peninsula.”

China is North Korea’s largest trading partner, but Mnuchin emphasized that “this action is in no way specifically directed at China,” and he said he called Chinese officials ahead of the announcement to give them a heads up.

In recent weeks, the U.N. Security Council has approved two rounds of economic sanctions but also left room for further penalties. For example, the sanctions put limits on the nation’s oil imports but did not impose a full embargo, as the United States has suggested it supports. The Trump administration has signaled it also wants a full ban on the practice of sending North Korean workers abroad for payments that largely go to the government in Pyongyang.

Sitting down with South Korean President Moon Jae-in before the trilateral discussion with Japan, Trump said the nations are “making a lot of progress.”

Moon praised Trump’s speech to the U.N., saying through a translator that “North Korea has continued to make provocations and this is extremely deplorable and this has angered both me and our people, but the U.S. has responded firmly and in a very good way.”

The Security Council had also applied tough new export penalties in August, and Secretary of State Rex Tillerson said Wednesday that there are signs those restrictions are having an economic effect.

“We have some indications that there are beginning to appear evidence of fuel shortages,” Tillerson said in a briefing for reporters. “And look, we knew that these sanctions were going to take some time to be felt because we knew the North Koreans…had basically stockpiled a lot of inventory early in the year when they saw the new administration coming in, in anticipation of things perhaps changing. So I think what we’re seeing is a combined effect of these inventories are now being exhausted, and the supply coming in has been reduced.”

There is no sign, however, that economic penalties are having any effect on the behavior of the Kim regime and its calculation that nuclear tests and other provocations will ensure its protection or raise the price of any eventual settlement with the United States and other nations.

All U.N. sanctions have to be acceptable to China, North Korea’s protector and chief economic partner. China’s recent willingness to punish its fellow communist state signals strong disapproval of North Korea’s international provocations, but China and fellow U.N. Security Council member Russia have also opposed some of the toughest economic measures that could be applied, such as banking restrictions that would affect Chinese and other financial institutions.

“We continue to call on all responsible nations to enforce and implement sanctions,” Trump said.

Trump said the United States had been working on the North Korea problem for 25 years, but he asserted that previous administrations had “done nothing, which is why we are in the problem we are in today.”

Through executive orders and other measures extending back to the Clinton administration, the United States has been trying to undermine the economic underpinnings of the North Korean nuclear weapons program.

Each new sanction from Washington has been followed by evasive measures by Pyongyang, and then another attempt from Washington to ramp up pressure. Earlier sanctions restricted trade between U.S. companies and businesses involved with the North Korean regime and its weapons efforts. Until recently, however, such sanctions had limited effects because North Korea continued an expansive trade with other countries, mainly China.

In recent years, the United States has sought to expand the economic pressure by working through the international banking system, where the country has particular leverage because so much of international trade is conducted in dollars. The “vast majority of international transactions are denominated in dollars, the world’s reserve currency,” a Congressional report found last year.

Even when the companies are outside the United States, trade conducted in dollars typically must run through U.S. banks, and last year, that provided the Obama administration an opportunity to interrupt such business.

In November 2016, a special measure implemented by the Treasury barred U.S. banks from providing the accounts that handle such transactions for any North Korean bank or any party acting on its behalf. The measure essentially cut off North Korean banks from any trade denominated in U.S. dollars.

North Korea, however, has continued to conduct such trades by using front companies located in third countries, at least some of which are in China.

The new executive order expands the U.S. pressure on the North by allowing the Treasury to single out those front companies, and any banks helping to finance any trade with North Korea, for sanctions. Those sanctions would cut off trade with those companies or forbid them from conducting transactions in dollars.

Anne Gearan in New York,  Abby Phillip in Washington and Peter Whorisky contributed to this report.

https://www.washingtonpost.com/news/post-politics/wp/2017/09/21/trump-says-the-u-s-will-impose-new-sanctions-on-north-korea/?utm_term=.f13cecf3e9e7

US-North Korea standoff could spark economic war with China

  • The escalating saber rattling between the U.S. and North Korea has raised the prospects of an economic confrontation between America and China.
  • So far, economic sanctions against Pyongyang have done little to convince North Korean leader Kim Jong Un to curb his ambitions to develop a nuclear missile capable of striking the U.S. mainland.
  • Now, critics of those measures are calling for stepped-up pressure on China, North Korea’s largest trading partner.

President Donald Trump (L) and Chinese President Xi Jinping (R) walk together at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017.

Jim Watson | AFP | Getty Images
President Donald Trump (L) and Chinese President Xi Jinping (R) walk together at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017.

The escalating saber rattling between the U.S. and North Korea has raised the prospects of an economic confrontation between America and China.

At issue are a series of sanctions against Pyongyang designed to convince North Korean leader Kim Jong Un to curb his ambitions to develop a nuclear missile capable of striking the U.S. mainland.

But those measures have had little impact on the increasingly bellicose stand-off, and on Thursday President Donald Trump repeated his complaint that Beijing needs to lean harder on Pyongyang to defuse rising tensions.

“I think they can do a lot more and I think they will do a lot more,” the president told reporters. “We lost hundreds of billions of dollars a year on trade with China. They know how I feel. It’s not going to continue like that.”

On Tuesday, Trump threatened to inflict “fire and fury” on North Korea if it continues to pursue its nuclear weapons program. A recent series of successful North Korean test launches were matched Wednesday by Kim’s threats to launch a missile at the U.S. territory of Guam.

The latest round of sanctions includes fresh restrictions, unanimously approved Saturday by the United Nation Security Council, that target North Korean exports of coal, iron, iron ore, lead, lead ore and seafood. The measures also ban countries from hiring more North Korean laborers, bar new joint ventures with North Korea and ban fresh investment in existing joint ventures.

“We say to China, ‘You have a choice whether you do business with North Korea or you do business with the U.S. but you can’t do both.'”-Sen. Chris Van Hollen, D-Md.

Economic sanctions so far have proved ineffective largely because North Korea has found ways to get around them with “evasion techniques that are increasing in scale, scope and sophistication,” according to a February U.N. report.

“Designated entities and banks have continued to operate in the sanctioned environment by using agents who are highly experienced and well trained in moving money, people and goods, including arms and related material, across borders,” the U.N. report found.

The widest flow of goods and cash, by far, crosses North Korea’s border with China. As North Korea’s largest trading partner, China accounted for roughly 85 percent of overall volume in 2015, according to data from the United Nations Comtrade database.

Coal and other minerals accounted for more than 40 percent of North Korean exports in 2015, followed by textiles (29 percent), metals (7 percent) and machinery (6 percent). North Korea’s biggest imports included textiles, machinery and raw materials including minerals, metals and plastics.

Though China has taken some steps to curb imports from North Korea, exports rose by nearly 30 percent in the first half of this year, according to Chinese customs data. During the six-month period, overall trade flows across the North Korean-China border rose 10 percent to $2.65 billion.

That’s why critics of the existing North Korean sanctions say the measures don’t go nearly far enough in cutting off the flow of cash and goods to the Pyongyang regime.

Some of those critics are calling for “secondary sanctions,” which would cut off trade and financial flows to any country doing business with North Korea.

“We say to China, ‘You have a choice whether you do business with North Korea or you do business with the U.S., but you can’t do both,'” Sen. Chris Van Hollen, D.-Md., told MSNBC on Thursday. “That is what got people’s attention with the Iran sanctions, and that’s what we need to do now.”

Last month, Van Hollen co-sponsored a bill with Sen. Pat Toomey, R.-Pa., that would impose secondary sanctions targeting third parties and countries that do business with North Korean companies and individuals.

Secondary sanctions offer a powerful financial weapon by allowing the U.S. government to bar foreign banks access to the U.S. financial system.

In late June, the White House imposed limited secondary sanctions on two Chinese citizens and a shipping company for helping North Korea develop nuclear weapons and also accused a regional Chinese bank, the Bank of Dandong, of laundering money for Pyongyang, Reuters reported.

Beyond cutting off cash and supplies to the North Korean regime, secondary sanctions squeeze the flow of cash to individuals, putting pressure on Kim’s political allies, according to David Cohen, a senior CIA official in the Obama administration.

“Imposing secondary sanctions would send a strong message to North Korean leader Kim Jong Un that the financial noose is tightening in a way that could drive a wedge between Kim and the Pyongyang elite critical to his continued hold on power,” Cohen wrote in a recent op-ed piece.

Imposing secondary sanctions that single out major Chinese banks and state enterprises comes with the risk of economic retaliation from Beijing.

To minimize that risk, the White House will need to build a much wider coalition of Asian countries, says Nicholas Burns, former U.S. ambassador to NATO during the George W. Bush administration.

But developing that coalition will be a tough task for an administration that has yet to fill dozens of key diplomatic positions. So far, the White House has filled fewer than half of the State Department positions that require Senate confirmation.

“It really is a time for diplomacy,” Burns told CNBC on Thursday. “But there’s no American ambassador to South Korea, there’s no secretary of State for East Asia. So, you’ve also got to fill out the ranks.”

https://www.cnbc.com/2017/08/10/us-north-korea-standoff-could-spark-economic-war-with-china.html

 

How did North Korea get nuclear weapons?

North Korea showed off its arsenal of missiles during this parade to celebrate the 105th birth anniversary of Kim Il-Sung in Pyongyang, North Korea, April 15, 2017.

North Korea showed off its arsenal of missiles during this parade to celebrate the 105th birth anniversary of Kim Il-Sung in Pyongyang, North Korea, April 15, 2017.

AP Photo/Wong Maye-E

North Korea is known for its bluster and outrageous propaganda, but the nuclear threat posed by the country is taken seriously by those in the know.

The “hermit kingdom” is estimated to have between 13 and 30 nuclear weapons, according to the Institute for Science and International Security. It could have up to 50 by the year 2020.

U.S. President Donald Trump has made it clear that he considers North Korea a legitimate threat. In early April, Trump dispatched the USS Carl Vinson aircraft carrier and its battle group to waters off the Korean Peninsula, and said “major, major conflict” was quite possible.

WATCH: Trump discusses military option for North Korea

Tensions have since soared over fears that North Korea may be about to conduct its sixth nuclear weapons test. On Friday, the country sent a letter to American lawmakers, saying any sanctions would only cause its nuclear testing program to “gather greater pace, beyond anyone’s imagination.”

But how did a country as isolated and impoverished as North Korea get its hands on nuclear weapons in the first place?

The Korean War

In 1950, a few months into the Korean War, U.S. President Harry Truman said in a press conference that the use of an atomic bomb was under “active consideration.”

Truman’s nuclear threat remained just that, with the Korean War formally ending in an armistice in 1953. But U.S. forces still laid waste to North Korean targets, dropping over 650,000 tons of bombs and napalm, according to The Korean War: A History.

U.S. Air Force Gen. Curtis LeMay estimated that the U.S. “killed off 20 per cent of the Korean population.”

WATCH: North Korea propaganda video puts White House in crosshairs, simulates strike on US Capitol

After the war, North Korea tried to convince its wartime ally China to share its nuclear weapons technologies. Supreme Leader Kim Il-Sung, grandfather of present-day leader Kim Jong-Un, twice asked Chinese ruler Mao Zedong for help but was refused both times, according to The Two Koreas: A Contemporary History.

Denied an easy path to a nuclear bomb, North Korea set about cobbling together an indigenous nuclear weapons program.

Soviet support

It helped that the country already had basic nuclear infrastructure in place.

As a founding member of the Soviet-led Joint Institute for Nuclear Research, North Korea had for years sent its scientists to the Soviet Union for nuclear energy training, according to a timeline compiled by the Nuclear Threat Initiative (NTI).

The Soviets even helped North Korea set up its first nuclear reactor in 1964. The reactor was used to produce radioactive isotopes for medicinal, industrial and research purposes.

READ MORE: Mike Pence urges China, Russia to pressure North Korea to abandon weapons program

But in the years that followed, the country began to explore weapons capabilities, summoning its best scientists home — including from Canada, according to NTI — to work on its fledgling nuclear weapons program.

But while North Korea’s scientists had the technical training, they lacked designs for the highly sophisticated facilities needed to produce nuclear weapons.

Path to a plutonium weapon

 In the ‘70s and ‘80s, North Korea set about acquiring sensitive nuclear technologies from Europe, taking advantage of the lack of adequate nuclear information safeguards at the time.

At one point, North Korean agents went to a conference in Vienna and chatted up some Belgian scientists who had a design for a plutonium separation plant, The Atlantic reported.

“Lo and behold, it wasn’t long before the North Koreans obtained the design information for that installation… and then eventually over a period of 10 to 15 years, they set that technology up, they deployed the plant, they started to experiment with it and use it,” Mark Hibbs, a senior fellow with the Carnegie Endowment for International Peace, told The Atlantic.

READ MORE: North Korea says it’s ready for war if Donald Trump wants

In 2003, CIA director George Tenet told the Senate Armed Services Committee that North Korea “probably” has one or two plutonium-based nuclear warheads, according to The Statesman’s Yearbook 2012.

The following year, second-generation Supreme Leader Kim Jong-Il invited a delegation of Western nuclear scientists to North Korea to see its plutonium extraction facility. One of them, American scientist Dr. Siegfried Hecker, revealed in a Google Tech Talk lecture that North Korean officials at one point brought out two marmalade jars of plutonium.

“Inside one was a plutonium powder and the other one had plutonium metal,” Hecker said.

He even held one of the jars in his hand, and concluded from its appearance, weight and warmth that it contained radioactive plutonium.

In 2006, two years after Hecker’s visit, North Korean state media announced the country’s first nuclear weapon test.

By then, the country’s scientists had increasingly begun redirecting their efforts away from plutonium-based nuclear weapons to uranium-based ones, according to NTI. This is because the facilities needed to produce weapons-grade uranium can more easily be hidden underground, away from prying satellites and weapons inspectors.

North Korea wanted to cover all its bases.

Pakistani proliferation

The groundwork for North Korea’s uranium nuclear weapons program was laid in the ‘90s, with substantial help from Dr. A.Q. Khan, the pioneer of Pakistan’s atomic bomb program.

Khan orchestrated the clandestine transfer of uranium centrifuges, enrichment machines and technical data to North Korea over a period of several years, according to the book Nuclear Black Markets: Pakistan, A.Q. Khan and the Rise of Proliferation Networks.

According to the book’s author, Mark Fitzpatrick, some of Khan’s deals were likely tied to existing official agreements between the two countries, wherein North Korea provided ballistic missile technologies to Pakistan.

WATCH: Pakistan test fires submarine-based cruise missile

In 2003, the U.S. learned of North Korea’s plans to build a uranium-enrichment facility with Pakistan’s help. The following year, Khan admitted to running a global nuclear proliferation ring, with Iran and Libya among his other clients.

Khan later told German magazine Der Spiegel that he was merely acting on behalf of the Pakistani leadership.

He even released what he claimed was a 1998 letter from Jon Pyong-ho, one of the architects of North Korea’s nuclear program, in which Pyong-ho assures that $3 million has been transferred to Pakistan’s army chief, and asks that Khan dispatch “the agreed documents, components, etc.” via a North Korean emissary.

READ MORE: Pakistan refuses to release doctor who helped US find Osama bin Laden

Khan was later pardoned by Pakistani leader Gen. Pervez Musharraf.

“By freely selling enrichment equipment and putting the designs on computer disks, Khan significantly lowered the technical barriers to nuclear weapons development,” Fitzpatrick wrote.

And no country benefited more from Khan’s largesse than North Korea.

READ MORE: Pakistan issues nuclear warning to Israel on Twitter after fake news story

In 2010, Dr. Siegfried Hecker was again invited to North Korea, and was this time taken on a tour of a uranium enrichment facility. He described what he saw as “truly mind-boggling” — around 2,000 centrifuges that appeared to contain highly enriched, weapons-grade uranium.

“[The North Koreans] take whatever they can get, and then they build things themselves, and they do it quite well,” Hecker concluded in his Google Tech Talks lecture.

The Nuclear Silk Road

In early 2015, debris from a North Korean satellite launch were analyzed by experts and found to contain components manufactured in the U.K. and routed through Chinese companies, according to a United Nations Panel of Experts report.

The following year, foreign journalists on a tour of a Pyongyang factory spotted a shipment of boxes from Calgary-based chemical producer Dow Canada, the Washington Post reported.

These are but two of several known instances of North Korea evading international sanctions and export controls to procure weapons components.

WATCH: China says it will impose more sanctions on North Korea if missile test conducted: Tillerson


“North Korea is very creative in the way that it goes about sanctions evasion, and the patterns in which it goes about it vary,” Andrea Berger, a senior researcher with the James Martin Center for Nonproliferation Studies, told Global News.

Berger says North Korea often sends trusted nationals to China to set up front companies, often in collaboration with Chinese citizens. These companies then import equipment from Western manufacturers, who often have no way of knowing that the companies are really fronts controlled by the North Korean regime.

“Let’s say you’re Siemens in Germany and you get a purchase request from ‘Golden Star General Trading Corporation’ in China. You look into that company and it doesn’t have a big web presence  —  because most Chinese small and medium-sized enterprises don’t  — and you assume, after some limited due diligence, that it’s probably fine,” Berger says.

READ MORE: China defends trade practices with North Korea after Chinese-made vehicles seen towing ballistic missiles

Even Chinese banks themselves often get deceived, she adds.

“The bank account might be under, say, ‘Golden Star General Trading Corporation’ or a Chinese director,” Berger says. “The Bank of China might not immediately be the wiser that there’s a North Korean beneficiary behind that account.”

By covering their tracks in this manner, front companies procure sensitive goods before re-exporting them to North Korea, evading Chinese export controls via misleading shipping labels or creative smuggling techniques.

READ MORE: U.S. mulls North Korea sanctions, targeting cash that flows through Chinese banks

The racket doesn’t exclusively involve surreptitious front operations, however.

In 2015, a large Chinese company called Shenyang Machine Tools bought equipment from a European manufacturer under the explicit condition that the items wouldn’t be re-sold to North Korea, according to the Institute for Science and International Security.

Shenyang Machine Tools promptly broke the agreement by embedding the products into its own line of industrial machines, which were then exported to North Korea.

The equipment in question is commonly used to manufacture missile parts and uranium centrifuges.

Financial skullduggery

So how does North Korea pay for the expensive parts that it acquires illegally?

Turns out it doesn’t just use front companies to buy  —  it also uses them to sell its own military products.

Earlier this year, the UN Panel of Experts reported the interception of a shipment of 45 military radios bound for Eritrea. The shipment was sent by a Malaysian-based company called Glocom — which investigators found to be controlled by the North Korean intelligence agency.

Glocom was selling the radios to developing countries at North Korea’s behest — for $8,000 per unit.

READ MORE: U.S. urges UN Security Council to increase economic pressure on North Korea over weapons program

Berger, who is familiar with the Glocom investigation, said the company was “being used to facilitate sales of that technology specifically.”

The combination of such clandestine military deals, the sale of missile technologies and the export of coal and minerals have enabled North Korea to fund its nuclear procurement, the UN report suggested.

The “disco ball” warhead

In March 2016, North Korean state media released photographs of Kim Jong-Un standing in front of what it claimed was a miniaturized nuclear warhead “standardized to be fit for ballistic missiles,” Reuters reported.

The object was silver, shiny and shaped like a giant orb. It was roundly mocked on Twitter for resembling a disco ball.

So you’re saying this new disco ball with old CDs stuck on the side will be more glittery? 

But experts aren’t laughing.

Melissa Hanham, a researcher who analyzes open source data and photos to assess North Korea’s weapons programs, says it’s “plausible” that the object is a working nuclear warhead.

“We can’t see inside it to say, ‘Yes, it is’ or ‘No, it isn’t’ a nuclear warhead,” Hanham told Global News. “But they’ve had five nuclear tests, so it wouldn’t be surprising for them to have that kind of compact warhead by that many tests.

READ MORE: North Korea’s latest missile launch could be 2nd test of new technology, experts say

“I can tell you that we’ve measured it a lot, and it does fit into the payload of many of their missiles.”

Hanham admits it’s bizarre that North Korea would let its Supreme Leader stand so close to the real thing, but points out that “there are other photographs of Kim Jong-Un engaging in really dangerous activities that confuse us as well” — referring to photos of him smoking next to a solid-fuel rocket engine and standing underneath a heavy object dangling from a crane.

A legitimate threat

The purported warhead may have been goofy-looking, but it represented one of many milestones in a ramped-up schedule of North Korean nuclear weapons development over the past year and a half.

“North Korea in 2016 spent a lot of time doing a point-for-point refutation of every major narrative of the things it ‘couldn’t do’ in its nuclear missile program,” Berger says.

“All the developments we’re seeing in the nuclear missile program are deeply serious, and the more we continue to laugh about it, the more North Korea will attempt to demonstrate that it has a credible military program that is making rapid advancement.”

WATCH: Should we be worried about North Korea?

That advancement is the result of over half a century of steadily accumulated scientific know-how and single-minded subterfuge, with North Korea taking advantage of lax regulations and shady foreign partners to hoodwink the international non-proliferation regime.

Berger says China’s “conscious negligence” — in relation to both clamping down on front companies and tightening export controls — has resulted in such a huge flow of illicit goods to North Korea that it would take “an enormous effort” to rein it in at this point.

“The problem we have is enormous policy inertia, and very few good ideas of how to address the situation,” Berger says.

READ MORE: Could North Korea’s nuclear missiles reach Canada?

Hanham agrees. “I think there are probably still opportunities to slow or disrupt their program, but they’ve already crossed a lot of important thresholds that make it unlikely that they will give up their [nuclear] program entirely,” she says.

“North Korea has shown that it’s dedicated to acquiring nuclear weapons, and it’s very hard to stop any country that’s completely dedicated.”

How did North Korea get nuclear weapons?

Story 2: Fed To Start Quantitative Tightening In October 2017 by Selling Some ($10 Billion Per Month or $120 Billion Per Year) of $4,500 Billion Bond Portfolio As U.S. Economy Slows in 2017? — Videos

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Fed will finally wind down historic rescue program

The Federal Reserve is leaving interest rates alone to give the economy room to keep growing.

But the central bank did take historic action on Wednesday: It will begin undoing the extraordinary steps it took to prop up the economy for almost a decade after the financial crisis. The Fed said it would begin shedding some of the $4.5 trillion in investments starting next month.

The announcement marks a milestone in the long recovery from 2008, and reflects confidence by Fed officials that the economy will continue to grow.

Starting in October, the Fed will begin unloading $10 billion of debt from its so-called balance sheet, including $6 billion in Treasury securities and $4 billion in agency debt each month through December.

For years, the central bank piled up purchases of Treasury and mortgage-backed securities, a strategy intended to stimulate the economy by reducing borrowing costs for everyone. At the time, it also reduced its benchmark interest rate to zero, and only began raising it in December 2015, seven year after the crisis.

On Wednesday, the Fed left rates unchanged, hovering between 1% and 1.25%.

Related: The CNNMoney Trump Jobs Tracker

The central bank has raised that rate three times since December as the economy has gradually improved. Raising rates too quickly could risk hobbling the recovery.

Still, the majority of Fed policymakers signaled on Wednesday that they expect to lift rates one more time this year.

Central bankers pointed to signs of strength in the U.S. economy, including a pickup in household spending and growth in business investments, in a statement following the Federal Open Market Committee’s two-day meeting.

“Job gains have remained solid in recent months, and the unemployment rate has stayed low,” the Fed said in a statement.

While Fed officials cautioned that the devastation of Hurricanes Harvey, Irma and Maria would hold back the U.S. economy in the “near term,” they said the storms would not “materially alter” the country’s economy overall.

“Within a few months, rebuilding activity has typically kicked in, returning economic growth to normal—or maybe even a little higher than normal,” wrote Eric Winograd, AB senior economist in a note. “So, despite the storms, we’re still confident the U.S. economy will keep its momentum, because the foundations are sound.”

Related: Fed Chair Janet Yellen warns – Monitor your credit report!

Some Fed officials have warned against raising interest rates until inflation — which reflects the prices of everything from meat and cheese to houses and cars — meets the goal of 2% that they consider healthy for the economy.

But inflation is still running below that target, even though the job market has picked up and other explanations have fallen away. In a press conference, Fed chair Janet Yellen described it as something of a “mystery.”

In past years, she said the Fed has been able to point to root causes of low inflation: the gap between those employed versus those that aren’t, energy prices and a rising dollar.

“This year’s inflation shortfall is more of a mystery,” Yellen told reporters at the press conference. “I will not say that the committee clearly understands what the causes are.”

Central bankers have been in a bind over when to lift rates again. Inflation has been stubbornly low for years, suggesting the Fed should hold off. But economic growth and low unemployment suggest they should act.

Fed officials cautioned that they do expect inflation to be higher than normal — at least for a little while — following the hurricanes that have devastated Texas, Florida and now Puerto Rico.

“Inflation remains the wild card of Fed policy and the temporary boost to gasoline prices following the hurricanes only clouds the picture further,” said Bankrate.com’s chief financial analyst Greg McBride. “Whether the Fed hikes in December will remain an open question until December.”

Along with one more rate hike this year, the Fed also predicted three more possible moves next year.

“It is too soon for the committee to conclude that the recent slowing in inflation was sufficiently permanent to alter the Fed’s plans,” Michael Gapen, a Barclay’s analyst wrote in a research note.

The Fed said it continues to expect inflation to remain at 1.6%, below its target, and the unemployment rate to be 4.3%, based on its updated economic projections.

The central bank did, however, offer a rosier picture of the overall economy, upping its economic growth forecast to 2.4% from 2.2%.

Yellen again declined to address speculation about whether President Trump will nominate her for a second four-year term leading the Fed. Her first term ends in February.

http://money.cnn.com/2017/09/20/investing/federal-reserve-janet-yellen/index.html

Fed prepares to cut $4.5 trillion portfolio: What it means
By Matthew Rocco Published July 12, 2017 The Fed FOXBusiness Opens a New Window.

USA-FED/ The Federal Reserve building in Washington, D.C (Kevin Lamarque / Reuters)
Federal Reserve Chairwoman Janet Yellen will be on Capitol Hill for two days of congressional testimony starting Wednesday, and investors will be closely watching the proceedings for any clues about the central bank’s plans to shrink its securities portfolio.

The Fed has begun to pave the way toward cutting its balance sheet, which grew from about $1 trillion to $4.5 trillion in five years. The large increase is the result of an aggressive bond-buying stimulus program known as quantitative easing. The program was implemented to keep interest rates low and support a collapsed housing market. Since December 2015, the Fed has gradually raised the benchmark fed funds rate from near zero amid an improved labor market and U.S. economy. But its large portfolio of Treasury bonds and mortgage-backed securities has remained in place.

With officials phasing out its crisis-era monetary policies, the Fed is now discussing a timeline to start winding down its portfolio to about half its current size.

“[The Fed] is in uncharted territory. They’ll be very cautious because they are committed to reducing interest rates and reducing the balance sheet. The first foray will be fairly limited,” said Nariman Behravesh, IHS Markit’s chief economist.

Investors have mostly prepared themselves for the Fed’s next move by anticipating an increase in interest rates. If anything, the Fed tends to “do less than the market expected,” Behravesh added.

“I think the good thing is the Fed is raising rates in an environment that’s not gangbusters, but it’s decent. Rates will go up, no question, but if they go gradually, it won’t do a great amount of damage to the economy,” he said, noting that the fed funds rate remains historically low. “Monetary policy is becoming tighter, but at the end of next year, it still won’t be tight.”

Fed members have already decided on a plan of action. Currently, the Fed purchases new bonds to replace the ones that come due. Once it starts the clock, the central bank will allow bonds to mature and roll off its balance sheet.

At their June policy-setting meeting, members of the Federal Open Market Committee set up a plan to shed as much as $6 billion worth of government bonds and $4 billion in mortgage-backed securities each month as a starting point. The Fed would raise the amount every quarter, eventually hitting a cap of $30 billion in Treasury and $20 billion in mortgage bonds per month.

Federal Reserve Board Chairwoman Janet Yellen holds a news conference after the Fed released its monetary policy decisions in Washington, U.S., June 14, 2017. TPX IMAGES OF THE DAY – RTS1750PExpand / Contract
Federal Reserve Board Chairwoman Janet Yellen holds a news conference after the Fed released its monetary policy decisions in Washington, U.S., June 14. (Joshua Roberts / Reuters)
Demand for bonds will weaken once the Fed stays on the sidelines, thus lowering prices and forcing interest rates to climb. (Bond yields move in the opposite direction as prices.) The magnitude of that rate increase will depend on how gradually the Fed sells off its holdings, Behravesh explained.

The benchmark 10-year Treasury yield has declined about 0.081 percentage points since the start of the year, hitting 2.36% in recent trading.

As for when the Fed will kick off the process, several officials prefer to “announce a start to the process within a couple of months,” according to minutes of their June meeting Opens a New Window. . Others believed that a decision later in 2017 would give the Fed more time to study inflation, which has fallen short of the central bank’s target, and U.S. economic activity.

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The general consensus is that the Fed will make an announcement in September. In her prepared remarks to Congress Opens a New Window. , Yellen affirmed that the Fed will “likely” implement the program this year, as long as the economy “evolves broadly as anticipated.”
“We do not intend to use the balance sheet as an active tool for monetary policy in normal times,” Yellen said, adding that the Fed is prepared to “resume reinvestments” if it sees a deterioration in the economic outlook.

No matter when the Fed begins to shrink its portfolio, economists expect it to move in the same way it raises interest rates: slowly.

“It’s hard to tell how slowly they are going to go,” Behravesh said, but the Fed is determined to move one step at a time. The impact on the financial and housing markets isn’t fully clear, and the Fed plans to raise the fed funds rate at the same time it dumps assets.

In June, the Fed raised the fed funds rate another quarter of a percentage point to a range of 1% to 1.25%. The next rate hike is expected in December.

http://www.foxbusiness.com/markets/2017/07/12/fed-prepares-to-cut-4-5-trillion-portfolio-what-it-means.html

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The Pronk Pops Show 965, September 15, 2017, Breaking Story: Breaking Story 1: Radical Islamic Terrorist Attack — Improvised Bucket Bomb Device Explodes In United Kingdom Parson Green Tube Train Station in West London During Morning Rush Hour — 29 Injured None Seriously including Children — Threat Level Raised From Severe To Critical By Prime Minister May — Videos — Story 2: North Korea Fires Another Ballistic Missile Over Japan — Videos — Story 3: Conservative Commentator Ben Shapiro Allowed To Speak At University of California, Berkeley, Police Arrested Nine of The Protesters –Videos

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Image result for terrorist attack in London tube train Parsons green 14 September 2017Image result for North Korea launced missile over japan

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Image result for terrorist attack in London tube train Parsons green 14 September 2017

 

Breaking Story 1: Radical Islamic Terrorist Attack — Improvised Bucket Bomb Device Explodes In United Kingdom Parson Green Tube Train Station in West London During Morning Rush Hour — 29 Injured None Seriously including Children — Threat Level Raised From Severe To Critical By Prime Minister May — Videos —

Parsons Green explained: Terror attack on London Tube

18-yr-old Terrorist arrested for London Tube terror attack

ISIS claimed responsibility for BUCKET BOMB ATTACK in the London subway station

29 Injured In Explosion On London Subway Train At Parsons Green Underground Station

WION Gravitas: Know all about terror attack at Parsons Green Station in London

Parsons Green: Man arrested over Tube bombing

Parsons Green: Explosion was from an improvised explosive device – BBC News

London police confirm Parsons Green explosion was terrorist attack

Eyewitnesses describe moments of explosion on London Tube

Londoners resilient following Parsons Green attack: ‘Everyone seemed in good spirits’

Soldiers on the streets and extra armed police on patrol Theresa May raises terror level to CRITICAL

Trump Just Made HUGE Announcement To Americans Immediately After London Terror Attack Overnight

Parsons Green: ‘It’s a terrible thing’ – US President Donald Trump – BBC News

Parsons Green terror attack Theresa May scolds Donald Trump over ‘unhelpful’ comments

Parsons Green: ‘There was a human stampede’ – BBC News

Parsons Green Explosion Tube Train Station at District Line London – Fulham 9/15/2017

Explosion on London tube train

Burning device filmed on tube carriage at Parsons Green station

Several Injured in London Terror Attack

UK raises terror threat after Parsons Green Tube attack

Mayor’s statement on Parsons Green terrorist attack

Blast In London Underground Station

London tube attack witness describes ‘frightening’ scene

Parsons Green explosion was terrorist attack – London police (Special Coverage)

Parsons Green attack: 22 injured, UK terror threat remains at severe

#London #ParsonsGreen Bombing and the #MSM Usual Suspects Trained Seal Show: Repeat But Don’t Report

Idiots React to London Underground Attack

UPDATED

 Parsons Green attack: Police raid in west London as 18-year-old man arrested in Dover – latest news

Detectives investigating the terrorist attack at Parsons Green have made a “significant” arrest in connection with the attempted bombing.

The 18-year-old man was arrested by Kent Police in the port area of Dover on Saturday morning under section 41 of the Terrorism Act.

He remains in custody at a local police station from where he will be transferred to a south London police station.

 Deputy Assistant Commissioner Neil Basu, Senior National Co-ordinator for Counter Terrorism Policing, said: “We have made a significant arrest in our investigation this morning. Although we are pleased with the progress made, this investigation continues and the threat level remains at critical.

“The public should remain vigilant as our staff, officers and partners continue to work through this complex investigation. We are not, at this time, changing our protective security measures and the steps taken to free up extra armed officers remain in place.

“This arrest will lead to more activity from our officers. For strong investigative reasons we will not give any more details on the man we arrested at this stage.”

The development came after Prime Minister ordered troops onto the streets on Friday night after a suspected Islamist placed a powerful time bomb on a packed rush hour train heading towards Westminster.

Theresa May took the decision after the independent Joint Terrorism Assessment Centre (JTAC) recommended raising the terror threat to its highest level, Critical, meaning another attack is expected.

The white bucket that is said to have blown up on the Parsons Green carriage
The improvised explosive device in a white bucket blew up on the final carriage of the Parsons Green train CREDIT: PRICEY1983AA/TWITTER

The army will deploy troops at key locations around the capital in order to free up police who were last night involved in a huge manhunt to catch the terrorist responsible for the failed Parsons Green bomb attack, which Islamic State of Iraq and the Levant claimed responsibility.

At least 29 people were injured, including a boy believed to be aged about 10 when an improvised explosive device (IED) went off on a packed rush hour tube at Parsons Green in west London yesterday morning.

Witnesses described scenes of terror and panic after the blast sent a “fireball” and a “wall of flame” through a District line service in west London.

But the main device, which had been fitted with a crude timer using shop-bought fairy lights, failed to detonate, meaning hundreds of people were spared death and serious injury.

Anti-terror police are understood to be working on the theory that the bomb was detonated early by accident and that the intended target may have been the Tube station at Westminster.

Detectives have so far spoken to 45 witnesses and continue to receive information from the public to the confidential anti-terrorist hotline.

The public has sent 77 images and videos to investigators via the UK Police Image Appeal website.

A police officer at the entrance to Parsons Green after the station re-opened overnight
A police officer at the entrance to Parsons Green after the station re-opened overnight CREDIT: JONATHAN BRADY/PA WIRE

Detectives from the Met’s Counter Terrorism Command are continuing to urge anyone with information about the terrorist attack to contact police.

The attack – the fifth terrorist attack on the UK in just six months – caused a diplomatic row between Washington and London.

Donald Trump seemed to accuse the Metropolitan Police of knowing the identity of the attacker in advance but failing to prevent the bombing. Mr Trump posted on Twitter: “Another attack in London by a loser terrorist. These are sick and demented people who were in the sights of Scotland Yard. Must be proactive!”

His claim earned the US President a stiff rebuke from Theresa May. “I never think it’s helpful for anybody to speculate on what is an ongoing investigation,” said the prime minister. “The police and security services are working to discover the full circumstances of this cowardly attack and to identify all those responsible.”

Despite Mr Trump’s suggestion that the terrorist was known to police, counter-terrorism sources insisted that was not the case and that the hunt for the perpetrator of the bombing on a District Line train was ongoing.

An injured woman is assisted by a police officer close to Parsons Green station
An injured woman is assisted by a police officer close to Parsons Green station CREDIT: STEFAN ROUSSEAU/PA

Counter terrorism specialists from Scotland Yard were last night working to establish his identity from CCTV footage on the train and at stations on the line. They were also combing through records of payments with Oyster cards used to buy Tube tickets.

One theory is the suspected bomber may have fled the scene among the stampede of panicking passengers and escaped among the crowds.

They were also uncertain that Parsons Green was not the planned target, pointing to reports that the bomb, which was packed with shrapnel and contained a timing device, had apparently malfunctioned.

Witnesses reported seeing people “covered in blood” after a “flash and a bang” from the device, but sent a “fireball” through the packed Tube train.

Pictures and video posted on social media showed a flaming bucket – which appeared to have wires coming from it – inside a Lidl carrier bag on the floor of a carriage.

The device is not believed to have fully detonated and it is reported that it could have been set off on a timer.

More follows – stay with us for the latest updates through the day

Residents evacuated at Sunbury address

The Met Police said police officers had evacuated and were searching a residential address in Sunbury-on-Thames.

Scotland Yard said: “The evacuation is a precautionary measure following the arrest of a man in Dover, Kent, at approximately 07:50hrs this morning in connection with the investigation into the terrorist attack at Parsons Green Underground Station on Friday, 16 September.

Officers began evacuating the address at approximately 13:40hrs today.

Residents in the buildings immediately surrounding the address are also being evacuated as a precautionary measure.

Cordons are being put in place at a 100 metre radius to facilitate the Metropolitan Police Service’s operation, which is being supported by colleagues from Surrey Police.

A search of the address is ongoing and the cordons will remain in place until the operation is complete.

Police would like to thank the local residents directly affected for their cooperation and patience. Local officers are on duty in the immediate area to talk to the community and address any concerns that they may have.

No further arrests have been made.”

Police cordon set up after officers raid house in Sunbury-on-Thames

 00:35

Armed police raid west London address

Police investigating the Parsons Green bombing carried out a raid on an address in Sunbury-on-Thames, close to the start of the M3 in west London, on Saturday afternoon.

Residents described a house in Cavendish Road being evacuated by armed officers. Others reported bomb squad vehicles arriving as armed officers moved in.

Met Police Commissioner Cressida Dick says London “will not stop”

London will not be stopped by terror, Metropolitan Police Commissioner Cressida Dick has said as she highlighted an increased visible police presence on the capital’s streets.

Ms Dick spoke as she joined officers on some of the city’s busiest streets, travelling on the Tube to Waterloo Station and patrolling the tourist hot spot of the South Bank

She said: “London has not stopped after other terrible attacks and it will not stop after this one.”

The Commissioner said the public should feel “utterly reassured” by the presence of police.

Met chief says London "will not stop"

Met chief says London “will not stop”

02:38

She said: “I’ve been out and about today. The public seem to be very positive about the number of officers that we have.”

She added: “The great thing about London is that we don’t give in, we don’t give in to terrorists – we never have and we carry on.

“So the transport system is running just as it ever did and the events are going ahead today. People are out and about. I’ve spoken to lots of people, Londoners and tourists and business people. People are here and I would say, carry on about your business and secondly, of course, be vigilant.”

She added: “My main message is London is carrying on. Carry on with your business but be alert, don’t be alarmed but make sure you tell us anything that worries you.”

Scenes from Saturday morning

Armed police are making their presence felt in the capital following the news last night that Prime Minister Theresa May had raised the UK terror threat level to critical.

Armed police in Westminster
Increased security in Westminster CREDIT:  TOM NICHOLSON/LNP

Meanwhile, Tube passengers have been returning to Parsons Green.

A passenger walks into Parsons Green Underground station
The station reopened in the early hours CREDIT: PETER NICHOLLS/REUTERS

Scotland Yard describe the arrest as “significant”

The 18-year-old was arrested by Kent Police in the port area of Dover under section 41 of the Terrorism Act.

Deputy Assistant Commissioner Neil Basu, Senior National Co-ordinator for Counter Terrorism Policing, said: “We have made a significant arrest in our investigation this morning. Although we are pleased with the progress made, this investigation continues and the threat level remains at critical.

“The public should remain vigilant as our staff, officers and partners continue to work through this complex investigation. We are not, at this time, changing our protective security measures and the steps taken to free up extra armed officers remain in place.

“This arrest will lead to more activity from our officers. For strong investigative reasons we will not give any more details on the man we arrested at this stage.”

18-year-old arrested in Dover over London bombing

00:49

Man, 18, arrested in Dover

An 18-year-old man has been arrested in the Dover area under the Prevention of Terrorism Act in connection with the Parsons Green station bombing.

More information to follow as we receive it.

Tightened security ahead of Chelsea v Arsenal game

In a statement, Chelsea said:  “Following Friday morning’s incident at Parsons Green, and in order to help us fully prepare for the game, the majority of the Stamford Bridge site will remain closed until Sunday morning.

“This includes Stadium Tours, the Museum, Megastore and the Chelsea Health Club & Spa, while the ticket office will be operating via telephone and online only.

“During that time, entrance to the site will be via the Stamford Gate entrance only. On Sunday, we urge supporters to arrive at least one hour before kick-off to allow for extra security measures.

“We also request that supporters do not bring bags as this will delay your entry to the stadium. The club continues to monitor events and liaise with the police and relevant authorities on supporter safety.”

Trump under fire in US over London bombing comments

Ben Cardin, a Democratic member of the Senate Intelligence Committee, backed Theresa May in her rebuke of Donald Trump over the London  bombing David Millward reports.

“I think the Prime Minister of the UK was appropriate in calling the president out.”

John Cohen, former US counterterrorism official and now a professor at Rutgers University, also believed Mr Trump’s intervention was unhelpful.

“At this stage investigators are going to be doing everything they can to locate those involved in the attack, and in particular the bomb maker,”  he told the New York Times.

“These types of statements — at this stage of the investigation — can undermine law enforcement efforts because it discloses key information that the investigators may be using to locate the attackers, and it could put peoples’ lives at risk.”

Bomb ‘highly likely’ to be TATP – CNN

A source briefed by investigators told CNN that an initial assessment of the device indicates it is “highly likely” to have contained the explosive TATP but that this has not been confirmed. It also appeared to have been crude and poorly designed, the source said.

‘Excellent progress’ made in hunt for terrorist, police say

Met Assistant Commissioner, Mark Rowley, said the police were making “excellent progress” in the hunt for the terrorist.

He said officers were trawling through hundreds of hours of CCTV footage and 77 images and videos taken by members of the public at the scene were also being examined.

Mr Rowley said the IED had now been made safe and was being examined by specialist forensic scientists.

Threat level raised to ‘critical’

The UK’s terror threat level has been raised from severe to critical, indicating a further attack may be imminent, following the Parsons Green Tube bomb, Prime Minister Theresa May said.

Army troops will be assisting the police with their duties, freeing up officers to continue their investigation into the attack.

Islamic State claims responsibility for the attack

The Islamic State terror group has claimed responsibility for the attack, according to the Amaq news agency which has links to the group.

White House defends Trump’s comments on Parsons Green attack

Mr McMaster was asked about Donald Trump’s comments this morning, in which he said the suspect of the bombing was “in the sights” of Scotland Yard.

Theresa May called that speculation “unhelpful”.

National security adviser H.R. McMaster, right, and U.S. Ambassador to the UN Nikki Haley, participate in a news briefing at the White House, in Washington
National security adviser H.R. McMaster, right, and U.S. Ambassador to the UN Nikki Haley, participate in a news briefing at the White House, in Washington CREDIT: CAROLYN KASTER 

Mr McMaster said he thought the president was speaking in general terms, and did not have any specific information.

He said: “I think what the president was communicating was that all our law enforcement efforts are focused on this threat for years.

“Scotland Yard is a leader in this, and if it happened here in the US the FBI would also have the suspect in their sights.

“I think he means generally this kind of activity is what we are trying to prevent.”

President Trump calls for renewed effort to cut terror funding

H.R. McMaster, Donald Trump’s national security adviser, has just spoken about the Parsons Green attack in the White House, Harriet Alexander reports.

He said: “The US stands in solidarity with the people of the UK.

“We will defend our people and our values against these cowardly attacks, and we will always stand by countries who do the same.”

He said Mr Trump had been “unambiguous” in his policy on terrorism, urging a renewed effort at cutting financing for terrorist networks.

President Trump speaks to PM to express sympathy

The White House press secretary has revealed details of the phone call between Donald Trump and Theresa May. The US president phoned to “convey his sympathies and prayers for those injured in the terrorist attack today in London”, the White House said.

“The President pledged to continue close collaboration with the United Kingdom to stop attacks worldwide targeting innocent civilians and to combat extremism. ”

A Downing Street spokesman said: “President Trump called the Prime Minister earlier today to offer his condolences over this morning’s cowardly attack in London.

“They also discussed North Korea’s latest missile test, agreeing it was a reckless provocation and that China must now use all its leverage to bring pressure to bear on the North Korean regime to ensure they change course and end these illegal tests.”

Number of injured rises to 29

NHS England says 29 people have been treated after the explosion at Parsons Green tube station.

As of 5.30pm on Friday, NHS England said it was now treating 21 patients.

Eight others were discharged earlier in the day.

 

Soldiers on the streets and extra armed police on patrol as Theresa May raises terror level to CRITICAL after ISIS claim Tube bucket-bomb attack was carried out by a cell of several jihadis

  • Soldiers and armed police will be on the streets as the threat level is raised to critical, the highest possible 
  • Scotland Yard have identified the suspect behind the rush hour blast on District Line train at Parsons Green
  • Manhunt underway for bomber amid fears he may have left other devices and could be armed with knives 
  • Islamic State group claimed responsibility for the west London attack saying its ‘soldiers’ had ‘planted IEDs’
  • IED had timer attached meaning terrorist probably exited at an earlier station but bomb failed to detonate
  • Bloodied and burned commuters ‘ran for their lives’ after explosion on London Underground this morning 
  • Were you on the train, witness the bombing or know one of the injured? Email tips@dailymail.com

Soldiers are being deployed on London’s streets as the terror threat level is raised to critical amid fears the Parsons Green bomber could strike again, Theresa May announced tonight.

Operation Temperer will see military personnel replacing police at key sites such as nuclear power plants to free up extra armed officers for regular patrols.

Scotland Yard said it is making ‘excellent’ progress in hunting the suspected terrorist who set off an improvised bucket bomb on a packed commuter train by Parsons Green tube station in west London at 8.20am.

Mrs May said in a statement from Number 10: ‘The Joint Terrorism Analysis Centre has now decided to raise the national threat level from severe to critical – this means their assessment is that a further attack may be imminent.’

Minutes later Assistant Commissioner Mark Rowley suggested there may have been more than one person involved stating that police were ‘chasing down suspects’.

Police identified the suspected terrorist using CCTV but the investigation has been overshadowed by an extraordinary diplomatic row triggered by Donald Trump

The US President tweeted just hours after the rush hour blast that police had the attacker ‘in their sights’ and should have been ‘more proactive’ in catching ‘the loser’.

Scotland Yard hit back and said Mr Trump’s comments were ‘pure speculation’ while senior officers refused to name the suspect.

The Islamic State group claimed responsibility for the attack tonight, saying its ‘soldiers’ had ‘planted IEDs’.

Scroll down for videos.  

A photograph of the flaming white bucket taken just after it exploded around 8.20am shows a number of wires protruding out of the top and on to the train carriage floor

The majority of victims suffered 'flash burns' including to their heads (pictured)  and several have been taken to a specialist burns unit

A victim, believed to be a schoolchild, is carried from the station with charred legs as others were treated for burns in the street and neighbouring shops

Others were treated for burns in the street and neighbouring shops

an 11-year-old who was found on the floor asking for his brother

Theresa May gave a statement from within Downing Street in which she announced the terror threat level would be raised to critical, its highest level

Assistant Commissioner Mark Rowley suggested there may have been more than one person involved stating that police were 'chasing down suspects'

A well-dressed young woman was walked to safety by a Met officer after having her head bandaged after suffering a burn or wound to her cheek

Firefighters from the London Fire Brigade raced to the scene in west London and were there within five minutes

This photograph captured the moment the first members of the emergency services raced to the scene within five minutes of the explosion

Elite armed counter-terrorism police are at the scene amid reports of the suspect being on the run and claims of a second device

Peter Crowley had the hair burnt off his head in the attack

Mr Crowley before the attack

A traumatised and injured passenger on the ill-fated Parsons Green train is taken away by paramedics and firefighters

The majority of the victims have suffered 'flash burns' caused by the ignition - but it appears that the bomb did not properly detonate

A forensic officer outside Parsons Green station in West London where there remains a heavy police presence as the manhunt for the suspected terrorist continues

Security was stepped up at stations around London following this morning's attack. Pictured is a British Transport Police officers at Euston

A police officer watches on as commuters file into the underground at Euston Station amid newly tightened security

As Britain faced its fifth terror attack in a year it has emerged:

  • Bucket bomb left on Tube train – which had a timer – failed to explode properly at 8.20am but left 29 injured;
  • Most victims suffered ‘flash burns’ and others crush injuries in ‘human stampede’ as people fled the train;
  • Two hours after the explosion Metropolitan Police confirmed they were treating it as a terrorist incident; 
  • The IED used Christmas lights as a fuse, as recommended by ISIS magazines and online bomb manuals;
  • Police are looking for multiple suspects – and officers have told MailOnline that main suspect is armed;
  • Donald Trump insists he has been briefed on bombing and Scotland Yard knew of the suspect before attack;
  • The Metropolitan Police hit back at ‘pure speculation’ and refused to name the suspect they are looking for; 
  • Met spotters are watching back CCTV from the train and at Tube stations to trace the bomber’s steps; 
  • ISIS claimed responsibility for the attack through its Amaq news agency saying ‘soldiers’ had ‘planted IEDs’
  • Police asks the public to dial 999 or the anti-terror hotline on 0800 789 321 if they see anything suspicious.

The crude bucket bomb – which had a timer – went off at 8.20am inside a tube train packed with commuters, including children and a pregnant woman.

The device was hidden in a builder’s bucket and could have killed dozens but failed to properly detonate and sent a ‘wall of fire’ through the carriage at Parsons Green injuring at least 29 people.

Terrified passengers were seen covered in blood with scorched hands, legs, faces and hair – others suffered crush injuries during a stampede as they ‘ran for their lives’ over fears the ‘train would blow up’.

London Ambulance took 19 patients to hospitals, while the others went in themselves. The four hospitals dealing with patients were Imperial, Chelsea and Westminster, Guy’s and St Thomas’ and St George’s.

Officers are hunting for the bomber across London amid claims he could be armed and may have planted other explosive devices.

An officer at the scene told MailOnline: ‘We believe there is a second bomb – there is a man with knives on the loose.’

Theresa May raises terror threat level to its highest possible

Mrs May said in a statement from Number 10 –

 ‘The Joint Terrorism Analysis Centre has now decided to raise the national threat level from severe to critical – this means their assessment is that a further attack may be imminent.

‘The public will see more armed police on the transport network and on our streets, providing extra protection.

‘This is a proportionate and sensible step which will provide extra reassurance and protection while the investigation progresses.’

In a pre-recorded television statement, May said military personnel would replace police officers ‘on guard duties at certain protected sites which are not accessible to the public’.

She said: ‘The public will see more armed police on the transport network and on our streets, providing extra protection.

‘This is a proportionate and sensible step which will provide extra reassurance and protection while the investigation progresses.’

Speaking moments afterwards, Assistant Commissioner Mike Rowley said: ‘We are making excellent progress at the moment as we pursue our lines of inquiry to identify, locate and arrest those responsible.

‘We have hundreds of police officers trawling through CCTV footage, detectives have spoken to tens of witnesses and we have taken a large number of calls to the hotline… for members of the public.

‘Indeed members of the public have sent in so far 77 images and videos of the scene which they have sent in to our appeal website and these are now being assessed for evidential value.’

Mr Rowley said he was only aware of one device, and the remnants of that device are being examined by experts.

London Mayor Sadiq Khan told LBC radio ‘there is a manhunt under way as we speak’ and there have been no arrests.

ISIS claimed responsibility for the attack this evening through its Amaq News Agency, saying its ‘soldiers planted IEDs’. However, the group has often made false claims in the past.

Photographs show what experts believe is a ‘unsophisticated’ bomb in a flaming white bucket inside a Lidl freezer bag with Christmas lights protruding from the top – a type of fuse encouraged by ISIS in its online manuals.

Donald Trump tweeted just hours after the rush hour blast that police had the attacker ‘in their sights’ and should have been ‘more proactive’ in catching ‘the loser’.

Scotland Yard hit back and said Mr Trump’s comments were ‘pure speculation’ while senior officers refused to name the suspect.

Mrs May also hit out at the President’s tweet, calling it ‘unhelpful’, and has this evening discussed the intelligence sharing between the two countries with the President in a telephone call.

This image was taken from the platform in the minutes after the terror attack and it remained alight until the fire service arrived

This image was taken from the platform in the minutes after the terror attack and it remained alight until the fire service arrived

A forensics tent has been erected on the platform - although there have been no fatalities - and a single pair of shoes lies abandoned outside the door where the bomb ignited

Horrified witnesses on social media claim there was a stampede as people were 'screaming and running' off the trains, which was searched by heavily armed police officers today

A heavily armed officer wanders through the damaged train's carriages looking for more devices

The abandoned train at Parsons Green today after a terrorist left a bucket bomb on the carriage floor

Police believe the bomber may have exited the train (pictured) perhaps one or two stops before the bomb went off

Passengers on trains at Parsons Green were evacuated onto the track away to safety after London was hit by another terror attack

Passengers are ushered across the track by firefighters after getting trapped in the aftermath of the bombing

 Witnesses to the explosion said there was a loud ‘bang’, a flash and then a ball of flame engulfed surrounding passengers on the ‘packed’ District Line train.

Luke Warsmey said: ‘The explosion was like a large match going off at the end of the carriage. People just started sprinting. It was every man for himself when that happened. The burn victims had severe leg injuries.

HOW RELEASING INFORMATION HELPED CATCH BARCELONA ATTACKER

The failure of the Metropolitan Police to name the suspect contrasts sharply with the response to the last major terror attack in Europe, Barcelona in August.

Just over an hour after the attack took place, Spanish police tweeted the public to say they were searching for the attacker and to avoid the area.

Then, three hours after the attack, a photo of a suspect, Driss Oukabir, was released and circulated online.

The release of the image caused Oukabir to come forward to his local police and tell officers his documents had been stolen.

This was again revealed to the media as Oukabir’s younger brother Moussa became the prime suspect.

‘It was a very busy commuter train, young and old, school children going to their schools. I saw was nannies trying to look for kids, because of the rush of people just taking five and six year olds away from them and they were trying to look for them.

‘There were lots of injuries from people being trampled on and everyone who had been close to it had the same burns to their head.’

Prime Minister Theresa May chaired a meeting of the Government’s Cobra emergencies committee this afternoon to discuss the terrorist attack.

Mrs May later appealed to any members of the public with images of the incident to pass them to the police.

Armed Police, paramedics and firefighters were all said to be at the west London station within five minutes of the explosion today.

A 100 yard cordon was erected around the station and a police helicopter was also overhead.

The Met confirmed it was a terrorist attack around 40 minutes later.

Scotland Yard said the area surrounding Parsons Green Tube station has been evacuated so specialist officers could ‘secure the remnants of the improvised device and ensure it is stable’.

NHS England said 29 patients in total were being treated at Imperial, Chelsea and Westminster, Guy’s and St Thomas’ and the Central London Community Healthcare Urgent Care Centre. Of these 18 were taken by ambulance and four self-presented.

In the aftermath armed police swooped from the SO-15 counter-terrorism unit performed a hard-stop on a bus in nearby Chelsea Bridge Road. The call was linked to the terror attack but nothing suspicious was found on board.

A team of paramedics walk towards the station to treat victims and St Mary's Hospital in Paddington have declared an emergency

A team of paramedics walk towards the station to treat victims and St Mary’s Hospital in Paddington have declared an emergency

Sniffer dogs are also searching around the cordoned off area amid claims that there are other devices 

Specialist forensic officer, including some with expertise in dealing with bombings and chemical incidents, are combing the train for clues

Specialist forensic officer, including some with expertise in dealing with bombings and chemical incidents, are combing the train for clues

A police cordon remained outside Parsons Green Tube station on Friday afternoon following the blast during the morning rush hour

A forensic officer in blue overalls walks along the pavement near Parsons Green tube station as the investigation continues into the attack

Emma Stevie, 27, described a ‘human stampede’ after the bomb went off. She said: ‘I heard lots of screams and people saying ‘run, run’. We got out and then there was a human stampede, down the stairs.

‘There were people lying underneath getting crushed, a big human pile-on. I wedged myself in next to a railing. I put myself in the foetal position. I kept thinking, ‘I’ll be ok, I’ll be ok’.

‘There was a pregnant woman underneath me, and I was trying really hard not to crush her.’

Lidl will help police after their bag was used to house bomb

Supermarket Lidl has offered to assist a police investigation into the terrorist incident on the London Underground, after one of its bags was apparently used to hold the improvised bomb.

The German-owned grocery chain issued a statement just hours after social media photos of the affected District Line carriage showed a still-burning bucket inside a Lidl-branded reusable bag.

‘We are shocked and concerned to have learned of an incident at Parsons Green this morning and our thoughts are with those affected,’ Lidl UK said.

‘We will, of course, support the authorities should they need our assistance in their investigations. We are closely monitoring the situation as it develops over the course of the day.’

A spokesman for the supermarket also confirmed that what seemed to be an insensitive tweet, purportedly sent out by Lidl UK’s twitter account on Friday morning, was fake.

Twitter user @jesuiscanard appeared to retweet a Lidl UK tweet from 10:32am which read: ‘We are proud to officially have the strongest bags. Great value for just 10p.’

Richard Aylmer-Hall told Sky News: ‘There were a few crush injuries on the stairs. People got squashed and crushed going down the stairs. Police evacuated everyone from the scene pretty quickly.

‘There was screaming, pushing and shoving – it was a like there was a terrorist on the loose with a gun or something – lots of people were in tears. When it was all over lots of people were being comforted and looked after. It was total chaotic panic.

‘A lady who had been on the same carriage as the device described it going off – a puff of smoke and flames coming out of it.’

Couple Lucy, 24 and Fabin, 29, were on their way to work when the explosion happened.

Lucy, who works in PR, said: ‘We just heard screaming and sprinting, there was a stampede on the stairs and people were falling over, there was a schoolboy being lifted up after he had fallen down, he was in his school uniform, he must have been about ten, he was crying and distressed.’

Fulham fitness instructor Niyi Shokunbi, 24, was in the next carriage the moment the bomb went off.

He told MailOnline: ‘I have never seen anything like it was like something out of a film. I thought it was an acid attack. It happened like bang within ten seconds, i just wanted to run.

‘I went towards the carriage where the bomb went off a woman said you don’t want to go in there. I saw a little boy with scratches on his face crying for his brother. A woman was bleeding. Everyone was running. I’ve never seen anything like it.’

People suffered burns from the explosion and others were hurt in the crush as people fled.

Rob Partinton, 24, from Harrow told MailOnline: ‘We were literally about two minutes from Parsons Green when the train suddenly stopped.

‘I saw people running on the track opposite direction towards Fulham Broadway, I could hear no screams but a lot of people running. We’ve been held at the station for the last half an hour. It’s pretty busy, a lot of police around and police dogs.’

Another witness, Sham, said he saw a man with blood all over his face. ‘There were loads of people crying and shaking,’ he told 5 live.

‘There were a lot of people limping and covered in blood. One guy I saw, his face was covered in blood – I’ve never seen anything like it.’

There is terror and panic at the station this morning, with police officers consoling members of the public

An injured man is helped into an ambulance – one of 18 ferried by ambulance to hospitals across London. Four others went to A&E themselves

A family with young children look towards the station in the aftermath of the terror attack on London

Witnesses say people ran from the scene with 'blood on their face'

People were stranded after the bombing and the District Line is expected to be closed for at least today

Bomb disposal experts are at the scene amid fears there could be second bomb 

Passengers ran onto the rail tracks to get away from the train as a fireball engulfed the carriage

 Witnesses claim people were trampled on when they fled the train after hearing a ‘whoosh’ and seeing flames race towards them

Flames engulfed one carriage and raced along a train on a west London route to Parsons Green, forcing passengers to trample others as they rushed for an exit 

At the scene dozens of police and ambulances have continued to be called into the cordoned area. It is not known at this stage how many people are injured.

Specialist armed anti-terror units also swamped the area.

Fairy lights have been used as detonators by extremist bombers before

Pictures of the apparent home-made bomb seen after the explosion show a Lidl coolbag with a large paint tub inside and a string of Christmas tree lights hanging over the top.

If the device does turn out to be a terrorist bomb, it would not be the first time extremists have used so-called ‘fairy lights’ to build a device.

In May this year, a radicalised former doorman Zahid Hussain was found to have built an explosive device in his bedroom with fairy lights, shrapnel and a pressure cooker.

He is said to have researched bomb-making techniques online, with police finding a wealth of notes and instructions at his home in Birmingham when he was arrested in 2015.

Chief Superintendent Matt Ward, of West Midlands Police, said of Hussain’s bomb at the time: ‘Forensic examination of the pressure cooker found it contained mixed urea, nails, drills bits, nuts, bolts, steel sockets and diesel fuel.

‘The Christmas tree lights also found at his address had been adapted so each one could be used as an explosive initiator or detonator.

‘Examination of his computer discovered browsing history relating to terrorism including bomb making and bomb blast injuries, showing he had a consistent and continued interest in

Chris Wildish, who was on the train, said he saw a ‘device’ in the last carriage.

‘It was a white bucket, a builder’s bucket, in a white Aldi bag or Lidl bag,’ he told 5live.

‘Flames were still coming out of it when I saw it and had a lot of wires hanging out of it – I can only assume it was done on purpose.

‘It was standing against the door of the rear-most carriage.’

Chris Wildish, who was on the train, said he saw a ‘device’ in the last carriage.

‘It was a white bucket, a builder’s bucket, in a white Aldi bag or Lidl bag,’ he told 5live.

‘Flames were still coming out of it when I saw it and had a lot of wires hanging out of it’.

Sylvain Pennec, a software developer from Southfields, near Wimbledon, was around 10 metres from the source of the explosion when fire filled the carriage.

‘I heard a boom and when I looked there were flames all around,’ he said. ‘People started to run but we were lucky to be stopping at Parsons Green as the door started to open.’

He described the scene of panic as commuters struggled to escape the carriage, ‘collapsing and pushing’ each other.

Mr Pennec stayed behind to take a closer look at what he believed was the source of the explosion.

‘It looked like a bucket of mayonnaise,’ he said. ‘I’m not sure if it was a chemical reaction or something else, but it looked homemade. I’m not an expert though.’

Passengers on the train behind the affected Tube witnessed terrified passengers sprinting away up the tracks.

They were then held in their train for over an hour before being evacuated on to the tracks themselves.

Nicole Linnell, 29, who works for a fashion label, said: ‘We saw people running down the tracks. About 30 or 40 people.

‘They were running down the tracks outside our train.

‘It was absolutely terrifying. Running on the tracks is the last thing you want to do so we were like ‘What’s going on?’

‘After about an hour we were evacuated off the train on to the tracks. About 10 to 15 people at a time.’

Melanie Heyside had been at a gym nearby and intended to get on a District Line train to go to work.

She told Sky News: ‘I just was about to open the doors to leave the studio and then all of a sudden Swat cars completely stormed and blocked the street and police jumped out with their armour and were telling people to ‘move, to move’.

‘So I was inside with a group of other people and we weren’t really sure what to do.’

She said they were told to leave the area, which she added was populated by schoolchildren and others going to work, as quickly as possible.

Lady Margaret’s School, next to Parson’s Green tube station, has put an alert out to concerned parents to say all children are okay and there are no absences.

‘Crude’ bucket bomb made with fairy lights could have killed DOZENS say experts as police reveal 21/7-style device failed to properly detonate

Explosives experts say the Parsons Green bomb could have killed dozens if it had properly detonated at rush-hour this morning.

Anti-terror police are now examining the bucket bomb which failed to fully go off on a tube train in west London as they try to track down the bomber.

Photos of the explosive show a large builder’s tub – believed be packed with explosives – inside a Lidl coolbag, with a string of Christmas tree lights, thought to have been a crude detonator, hanging over the top.

Officers compared the device to those used in the failed 21/7 bombings, in which jihadis attempted to blow up tube trains. In that case, the bombs’ detonators went off but the explosives themselves were not ignited.

It is believed the bomb was left on the busy district line train from Wimbledon this morning before the bomber escaped. Police are analysing the device to track down the terrorist

ISIS have encouraged followers to use the lights in bomb guides they post online, but the terror group have yet to claim responsibility for the attack.

A timer is understood to have been found on the device, suggesting the terrorist left it on board the train and then got off. It also suggests it was intended to go off at busier stations further down the line.

Terror expert Will Geddes said:  ‘My suspicion is that Parsons Green was not the intended target.

‘Unless a person knows it, it is not going to mean a great deal to you – if it was Paddington or Notting Hill, they are internationally recognised names.’

‘I think it was more a premature detonation than anything else. This could have been a lot worse. It could have killed a significant number of people.’

Others say the bomb probably didn’t detonated properly because it was badly made.

Explosives expert Dr Sidney Alford told MailOnline: ‘The fact that an initial bang was heard but the bomb did not even shatter the plastic bucket it was contained in suggests to me this could have been hydrogen peroxide.

‘I can rule out other types of explosives as if the initial bang was heard with those they would have gone off completely and destroyed the bucket.’

Flames engulfed one carriage and raced along a train on a west London route to Parsons Green, forcing passengers to trample others as they rushed for an exit 

Dr Alford said the bomb properly did not go off because it was poorly designed.

Witnesses reported a ‘strong, acrid chemical smell’ in the carriage after the explosion.

Major General Chip Chapman told Sky News: ‘This doesn’t look like a high-end explosive from ISIS such as TATP (triacetone triperoxide) or, if it was, it failed significantly, the booster or detonator didn’t go off.’

‘That said of course, the most devastating land-based terror attack in Europe, in Madrid, had a similar modus operandi.’

He added: ‘It’s not a high explosive that functioned because the blast and shockwave would have killed multiple people.’

Former Army bomb squad expert Chris Hunter told the channel the pictures reminded him of the devices which failed to go off during botched the 21/7 attacks.

In that instance, a group of Islamic terrorists planned to carry out a copy-cat attack to 7/7, but although the detonator part of the bombs went off, they did not ignite the explosives and only one person was injured.

Examining the image of the bomb, chemical weapons expert Hamish de Bretton-Gordon told MailOnline: ‘It looks pretty unsophisticated.

‘It could be an incendiary device with some sort of detonator in a big white plastic bucket, perhaps with some sort of chemical like ammonia nitrate, fertiliser bomb to cause an explosion.’

He said the attack looked like ‘classic jihadi terrorism’ and the bomb could have been ‘devastating’ if it had detonated properly.

Mr de Bretton-Gordon said the attack would raise further questions over whether the sale of certain chemicals should be more heavily regulated.’

Describing the device, witness Sylvain Pennec said: ‘It looked like a bucket of mayonnaise. I’m not sure if it was a chemical reaction or something else, but it looked home made.’

The incident has been compared to the 21/7 attacks in which bombs were placed on the underground and the detonators went off, but did not ignite the explosives

In that instance, the bombers Muktar Said Ibrahim (left) and Ramzi Mohammed were tracked down by police and convicted of terror offences

It is not be the first time extremists have used so-called them to build a device.

In May this year, a radicalised former doorman Zahid Hussain was found to have built an explosive device in his bedroom with fairy lights, shrapnel and a pressure cooker.

He is said to have researched bomb-making techniques online, with police finding a wealth of notes and instructions at his home in Birmingham when he was arrested in 2015.

Similarities between the device and that used in the Boston Marathon bombing in 2013 have also been drawn.

In that case, timers were also used to allow the bombers to get away. However, in that case the explosives were in a pressure cooker.

Members of a bomb disposal squad stand in the street near Parsons Green tube station

There were reports of a man at the station with a knife in the aftermath of the explosion. Scotland Yard said they believe this is unrelated to the Tube incident

Pictures from the District Line train appear to show a burning plastic bucket stashed in a Lidl carrier bag, which exploded

A police officer and a sniffer dog stand in the street near Parsons Green tube station

People at the chaotic scene have been frantically calling relatives in the aftermath of the explosion 

Police at the scene are keeping people away, moving them up Fulham Road and away from the station

Emergency services at the scene following a blast on an underground train at Parsons Green tube station in West London

Peter Crowley tweeted this photograph, with the caption: 'Charred head from the fireball at Parsons Green'

Dozens of police vehicles are at the scene as people are being urged to avoid the area

A London Fire Brigade spokeswoman said: 'We were called at 8.21am and we have information there was a fire on a train eastbound at the platform at Parsons Green'

A London Fire Brigade spokeswoman said: ‘We were called at 8.21am and we have information there was a fire on a train eastbound at the platform at Parsons Green’

Armed police are at the scene in London, as commuters have been evacuated

 Armed police are at the scene in London, as commuters have been evacuated

Images from the scene show emergency services and armed police 

Social media users reported a 'stampede' around the underground station at rush hour 

The London Ambulance Service was called at 8:20am and sent single responders in cars, ambulance crews, incident response officers and a hazardous area response team

People fled the Underground station in panic, amid reports there was an explosion 

May confronts Trump in a direct phone call after the US President sparked a diplomatic row by claiming Scotland Yard had the Parsons Green bomber ‘in their sights’ before the terror attack 

Theresa May today confronted Donald Trump to vent her anger after he claimed Scotland Yard had the Parsons Green bomber ‘in their sights’ before the attack.

The US President sparked a major diplomatic row by suggesting British police knew the extremist behind the bucket bomb in the second major intelligence sharing breach in just five months.

Both Mrs May and the Met Police reacted with fury to the intervention slamming Mr Trump for speculating about the fast moving terror investigation.

And in a direct call with the US leader late this afternoon, the Prime Minister raised her concerns over the comment directly with him.

The row is a revival of damaging split between London and Washington in May when shared intelligence about the Manchester bombing was handed to US media.

In a brief statement after the call a Downing Street spokeswoman said: ‘President Trump called the Prime Minister earlier today to offer his condolences over this morning’s cowardly attack in London.’

The White House said Mr Trump ‘pledged to continue close collaboration with the United Kingdom to stop attacks worldwide targeting innocent civilians and to combat extremism’.

Mr Trump sparked a furious reaction from British police and politicians after he wrote on Twitter: ‘Another attack in London by a loser terrorist. These are sick and demented people who were in the sights of Scotland Yard. Must be proactive!’

Angry MPs told the Mail Online his careless words risked endangering the crucial manhunt to find the extremist behind the attack.

After risking a new diplomatic row with Britain, Mr Trump insisted he had been briefed on intelligence about the attack and called Mrs May.

Donald Trump on the White House lawn today where he insisted he had been briefed about Parsons Green and said the suspect was known to police

Theresa May (pictured in No 10 this afternoon) said any speculation was unhelpful when asked about the President's tweets on the Parsons Green attack  

Trump tweeted: 'Another attack in London by a loser terrorist. These are sick and demented people who were in the sights of Scotland Yard. Must be proactive!'

 Trump tweeted: ‘Another attack in London by a loser terrorist. These are sick and demented people who were in the sights of Scotland Yard. Must be proactive!’

Met terror chief Mark Rowley updated the media on the investigation this morning (pictured) but has not given any details of any man hunt

But in an afternoon press briefing, US National Security Advisor H.R. McMaster insisted that Trump wasn’t conveying information about Friday’s attack in particular.

‘I think what the president was communicating is that obviously all of our law enforcement efforts are focused on this terrorist threat from, you know – for years,’ McMaster told reporters at the White House. ‘Scotland Yard has been a leader, as our FBI has been a leader.’

‘So I think if there was a terrorist attack here, God forbid, that we would say that they were in the sights of the FBI. So I think he didn’t mean anything beyond that. … I think he means generally that this kind of activity is what we’re trying to prevent. And so these organizations that are responsible for it, whatever comes out of this investigation that remains to be seen, it is likely that law enforcement had been orking on that problem set.’

Mr Trump’s initial Tweets came at almost exactly the same time as Met Assistant Commissioner Mark Rowley gave an initial update on the attack in a TV statement.

Standard UK police procedure in the aftermath of any terror attack is to keep the identity of any suspects confidential. The tactic allows rapid arrests to be carried out without alerting the prime suspect or their family and friends.

Mr Trump’s used today’s tirade to promote his plans for a travel crackdown on Muslims wanting to visit the United States.

Speaking from Downing Street after chairing a meeting of the Government’s emergency ‘Cobra’ committee, Mrs May said: ‘I never think it’s helpful for anybody to speculate on what is an ongoing investigation.’

A Met Police spokesman said: ‘The comments are unhelpful and pure speculation.

‘If anyone has got any evidence or information, please contact the anti-terrorism hotline.’

President Donald Trump has claimed Scotland Yard knew ahead of time about a bomber or bombers who set off a crude incendiary bomb Friday morning on London's 'Tube' subway

Trump added: 'Loser terrorists must be dealt with in a much tougher manner. The internet is their main recruitment tool which we must cut off & use better!'

Trump added: ‘Loser terrorists must be dealt with in a much tougher manner. The internet is their main recruitment tool which we must cut off & use better!’

The force declined to give details when asked by MailOnline if they had a suspect, evidence of a wider plot or if any suspect was seen on CCTV.

Liberal Democrat home affairs Sir Ed Davey told MailOnline Mr Trump could undermine the police investigation

He said: ‘It is insulting to the victims of this attack that Donald Trump is already using it to tr