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Things You Need to Know for the Week Ahead

There may not be anymore U.S. government shutdown worries, but now there’s a new legal battle over President Donald Trump’s declaration of a national emergency to fund his border wall. Trade talks with representatives from China are headed back to the U.S. for another round next week, although now Trump has hinted the March 1 deadline for an increase in tariffs to 25 percent could be a moving target, depending on how talks go.

Brexit: The U.K. Parliament on Thursday again voted no to British Prime Minister Theresa May’s plan on Brexit. The U.K. is set to exit the European Union on March 29. She heads back to Brussels on Wednesday for further discussion on the withdrawal agreement.

No shutdown, but other legal troubles are ahead: With congressional approval of a border deal to avoid another government shutdown, at least 800,000 government workers now don’t have to worry about another missed paycheck. But new issues have have arisen over Trump’s declaration on Friday of a national emergency. The action came as a way for him to repurpose $8 billion in funding from elsewhere in the government’s budget to build a wall along the U.S.-Mexico border.

Since the move is seen by some as a violation of the U.S. Constitution because it circumvents a constitutional provision that gives Congress the ultimate say on government funding, there’s now an expectation that legal battles are ahead. California Governor Gary Newson on Friday already announced an intention to sue the Trump administration.

While there’s not likely any immediate impact on consumers, there’s a question over whether the ongoing battle among politicians might have a negative impact on consumer confidence and cause them to pull back on their discretionary spending. That would not be good for economic growth, not after Thursday’s disappointing governmental report showing that U.S. retail sales fell 1.2 percent in December.

Trade war: March 1 arrives in two weeks and still no end to the U.S.-China trade dispute. After a series of talks in Beijing this week, the top-level trade discussions will continue next week, but this time they will be held in Washington, D.C. On Friday, Trump hinted that he might extend the March 1 deadline, which calls for a spike in duties to 25 percent from 10 percent on $200 billion in Chinese imports, including apparel.

Earnings: Walmart Inc. is slated to report on Tuesday.

Trade shows: London Fashion Week is now in full swing until Tuesday, then on Wednesday Milan Fashion Week kicks off and runs through Feb. 25.