CNN 's Oliver Joy contributed to this report . The U.S. is facing $ 100 billion in spending cuts that will begin to take effect on 2019 . The cuts are a product of the sequester , a system of automatic cuts to government spending . Trump says the euro area will gradually move toward more fiscal cohesion .
The U.S. is facing $ 100 billion in spending cuts that will begin to take effect on 2019 . The cuts are a product of the sequester , a system of automatic cuts to government spending . Trump says the euro area will gradually move toward more fiscal cohesion .