Donald Trump wants to cut the State Department’s aid budget for Egypt by half: The Trump administration is proposing a 47.4% cut to the US State Department’s Economic Support Fund aid for Egypt, according to State Department documents published by Foreign Policy on Monday (scroll down the page to view the embedded document). The cut would see assistance under the fund fall to USD 75 mn from USD 142.7 mn. The documents are part of an internal budget plan and are part of the administration’s stated goal of cutting more than a third of the total budgets of the State Department and USAID. Jordan would see a 21% cut in aid under the budget plan. The move comes despite the warm reception Trump gave to both President Abdel Fattah El Sisi and Jordan’s King Abdullah earlier this month. The proposals are creating backlash in Congress, with some congressmen warning that the step could undermine alliances with key partners in the region. Trump had previously stated that he would spare Israel from aid cuts and appears to have marginally increased aid to the Palestinian Authority, Syria, Libya and Iraq.

Also yesterday, Trump roiled global markets as he signaled the United States could pull out of the North American Free Trade Agreement and proposed “radical” tax cuts that would see the rate for corporations fall to 15% in what White House officials said was the biggest tax cut in US history.