By Larry Neumeister
U.S. Sen. Bob Menendez returns to court Monday to enter an expected not guilty plea to a conspiracy charge alleging he acted as an agent of the Egyptian government when he chaired the Senate Foreign Relations Committee.
Menendez, 69, was scheduled to appear in the afternoon before Judge Sidney H. Stein at federal court in Manhattan.
The New Jersey Democrat stepped down from his powerful post leading the Senate committee after he was charged last month. Prosecutors said the senator and his wife, Nadine Menendez, accepted bribes of cash, gold bars and a luxury car over the past five years from three New Jersey businessmen in exchange for a variety of corrupt acts.
The other defendants entered not guilty charges to a superseding indictment last week. The senator was permitted to delay his arraignment so he could tend to Senate duties. He has said that throughout his whole life he has been loyal to the United States and that he will show his innocence.
Menendez has resisted calls from more than 30 Democrats that he resign.
The rewritten indictment added a charge alleging that the senator, his wife and one of the businessmen conspired to have Menendez act as an agent of the government of Egypt and Egyptian officials.
As a member of Congress, Menendez is prohibited from acting as an agent for a foreign government.
Menendez is accused of passing information to the Egyptians about the staff at the U.S. embassy in Cairo, ghostwriting a letter on Egypt's behalf intended to influence fellow senators and urging the U.S. State Department to get more involved in international negotiations to block a dam project Egypt opposed, among other things.
Last week, Nadine Menendez and a businessman, Wael Hana, pleaded not guilty to the superseding indictment.
Both of them were charged with conspiring with the senator to use him as an agent of the government of Egypt and its officials. The charge carries a potential penalty of up to five years in prison.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without much of the economic data it typically relies on from the government. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves. Fed Chair Jerome Powell told reporters that there were “strongly differing views” at the central bank's policy meeting about to proceed going forward.
U.S. and Chinese officials say a trade deal between the world’s two largest economies is drawing closer. The sides have reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting Thursday in South Korea. Any agreement would be a relief to international markets. Trump's treasury secretary says discussions with China yielded preliminary agreements to stop the precursor chemicals for fentanyl from coming into the United States. Scott Bessent also says Beijing would make “substantial” purchases of soybean and other agricultural products while putting off export controls on rare earth elements needed for advanced technologies.
A new poll finds most U.S. adults are worried about health care becoming more expensive.
The White House budget office says mass firings of federal workers have started in an attempt to exert more pressure on Democratic lawmakers as the government shutdown continues.
President Donald Trump says “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea after China restricted exports of rare earths needed for American industry. The Republican president suggested Friday he was looking at a “massive increase” of import taxes on Chinese products in response to Xi’s moves. Trump says one of the policies the U.S. is calculating is "a massive increase of Tariffs on Chinese products coming into the United States." A monthslong calm on Wall Street was shattered, with U.S. stocks falling on the news. The Chinese Embassy in Washington hasn't responded to an Associated Press request for comment.
