Trump to Sign Order Shuttering Education Department

FILE PHOTO: A protester stands near the US Department of Education headquarters after the agency said it would lay off nearly half its staff, a possible precursor to closing altogether, as government agencies scrambled to meet President Donald Trump's deadline to submit plans for a second round of mass layoffs, in Washington, D.C., US, March 12, 2025. REUTERS/Nathan Howard/File Photo
FILE PHOTO: A protester stands near the US Department of Education headquarters after the agency said it would lay off nearly half its staff, a possible precursor to closing altogether, as government agencies scrambled to meet President Donald Trump's deadline to submit plans for a second round of mass layoffs, in Washington, D.C., US, March 12, 2025. REUTERS/Nathan Howard/File Photo
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Trump to Sign Order Shuttering Education Department

FILE PHOTO: A protester stands near the US Department of Education headquarters after the agency said it would lay off nearly half its staff, a possible precursor to closing altogether, as government agencies scrambled to meet President Donald Trump's deadline to submit plans for a second round of mass layoffs, in Washington, D.C., US, March 12, 2025. REUTERS/Nathan Howard/File Photo
FILE PHOTO: A protester stands near the US Department of Education headquarters after the agency said it would lay off nearly half its staff, a possible precursor to closing altogether, as government agencies scrambled to meet President Donald Trump's deadline to submit plans for a second round of mass layoffs, in Washington, D.C., US, March 12, 2025. REUTERS/Nathan Howard/File Photo

US President Donald Trump is expected to sign an executive order Thursday to close the Education Department, fulfilling a yearslong pledge to dismantle the federal agency, the White House said in a statement.

The order will direct Education Secretary Linda McMahon to “take all necessary steps to facilitate the closure the Department of Education and return education authority to the States, while continuing to ensure the effective and uninterrupted delivery of services, programs, and benefits on which Americans rely.”

It mandates that the agency's funds do not go toward programs or activities that advance diversity, equity and inclusion goals or gender ideology.

Trump will hold an event at the White House to sign the order.

The President cannot shutter the agency without congressional legislation, which could prove difficult. Trump's Republicans hold a 53-47 majority in the Senate, but major legislation, such as a bill eliminating a cabinet-level agency, would need 60 votes and thus the support of seven Democrats to pass, according to Reuters.

Senate Democrats have given no sign they would support abolishing the Education Department.

Trump has repeatedly called for eliminating the department, calling it “a big con job.” He proposed shuttering it in his first term as president, but Congress did not act.



Iran’s Currency Drops to a Record Low amid Geopolitical Uncertainty

Iranian People shop at the Tehran Bazaar in Tehran, Iran March 16, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Iranian People shop at the Tehran Bazaar in Tehran, Iran March 16, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
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Iran’s Currency Drops to a Record Low amid Geopolitical Uncertainty

Iranian People shop at the Tehran Bazaar in Tehran, Iran March 16, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Iranian People shop at the Tehran Bazaar in Tehran, Iran March 16, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters

Iran's currency fell below the psychologically key level of 1,000,000 rial per US dollar on Tuesday, as market participants saw no end in sight to sanctions under US President Donald Trump's renewed "maximum pressure" campaign.

Trump said earlier this month that he had sent a letter to Iran's top authority, Supreme Leader Ali Khamenei, warning that Iran's nuclear program could either be dealt with through negotiations or militarily.

Khamenei rejected the US offer for talks as a "deception" and Iranian Foreign Minister Abbas Araqchi said last week that negotiations with Washington were impossible unless its policy changed.

The apparent diplomatic deadlock has raised fears of potential conflict, although Iranian officials have sought to assuage such concerns.

"I am certain there won't be any war as we are fully prepared for such condition... so that no one will think about attacking Iran," Araqchi said on Monday, during a meeting with the Iranian Red Crescent.

Iran's currency dropped to a record low of 1,039,000 rial to the US dollar according to Bonbast.com, which gathers live data from Iranian exchanges.

This represents a more than halving of the currency's value since President Masoud Pezeshkian took office last year.

Facing an annual inflation rate of about 40%, Iranians seeking safe havens for their savings have been buying dollars, other hard currencies or gold, suggesting further headwinds for the rial.

The Iranian rial stood around 55,000 to the US dollar in 2018, when US sanctions were reimposed by the first Trump administration to force Tehran to the negotiating table by limiting its oil exports and access to foreign currency.

The US has issued four rounds of sanctions on Iran's oil sales since Trump's return to the White House.