Trump cancels US administration's Davos trip

A week after stating that he would not attend the World Economic Forum in Switzerland's Davos, U.S. President Donald Trump has also canceled the American delegation's trip, CNBC reported late Thursday citing sources.

Trump previously said he's canceling his trip because of Democrats' "intransigence" on border security. Trump and Democrats are at an impasse over funding for Trump's proposed wall at the southern border.

In a tweet, Trump offered his "warmest regards and apologies" to the economic forum.

"I intended to go and speak in front of the world financial community in Davos. That's still on, but if the shutdown continues ... I won't go. I had planned to go, it's been very successful when I went. We have a great story to tell," Trump told reporters before leaving the White House to visit Texas.

Treasury Secretary Steven Mnuchin and other Cabinet members were scheduled to attend the annual Davos event, which attracts business and political elite.

The partial government shutdown, now in its 20th day, could end by the meeting's Jan. 22 start date. The meeting concludes on Jan. 25.