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HIGHLIGHTS-The Trump presidency on April 12 at 6:38 p.m. EDT/2238 GMT

April 12 (Reuters) - Highlights of the day for U.S. President Donald Trump's administration on Wednesday: RUSSIA Russian President Vladimir Putin says trust has eroded between the United States and Russia under Trump as Moscow gives an unusually hostile reception to Secretary of State Rex Tillerson in a face-off over Syria.

Russia blocks a Western effort at the U.N. Security Council to condemn last week's deadly gas attack in Syria.

ECONOMIC ISSUES Trump says his administration will not label China a currency manipulator, backing away from a campaign promise, even as he says the dollar is "getting too strong" and eventually will hurt the U.S. economy.

Trump signals he could be moving closer to the mainstream on monetary policy, saying he has not ruled out reappointment of Janet Yellen to a new four-year term as Federal Reserve chair.

NATO Trump says NATO is not obsolete, as he had declared on the campaign trail last year, but that alliance members still need to pay their fair share for the security umbrella.

TAXES House Speaker Paul Ryan's tax reform blueprint appears to be losing its status as the likely framework for the first major tax overhaul since 1986, with rival approaches emerging from the White House and Congress.

Trump says he does not like the "border adjustment" tax formulated by Ryan and other Republicans in the House of Representatives and wants to call it an "import tax" or "reciprocal tax." HEALTHCARE Trump tells the Wall Street Journal he might consider withholding billions of dollars of Obamacare payments to health insurers to force Democrats back to the negotiating table on healthcare.

POSSIBLE CONFLICTS A Democratic senator is pressing Deutsche Bank to release information about issues including Trump's debt and any bank meetings with Trump administration officials, saying he had "great concern" about possible conflicts of interest.

NORTH KOREA Chinese President Xi Jinping calls for peaceful resolution of rising tension on the Korean peninsula in a telephone conversation with Trump, as a U.S. aircraft carrier strike group heads toward the region.

Russian Foreign Minister Sergey Lavrov says after the talks with Tillerson that Moscow and Washington broadly agreed the only solution to the brewing crisis over North Korea is political.

SPICER White House spokesman Sean Spicer says he had let Trump down with his "inexcusable and reprehensible" comments comparing the use of poison gas by Assad to the atrocities of Adolf Hitler.

(Compiled by Bill Trott; Editing by James Dalgleish and Jonathan Oatis)