WASHINGTON, Jan 21 (Reuters) - U.S. President Donald

Trump said on Wednesday he has had calls from credit-card

companies, saying those firms should "give people a break," as

the Republican leader doubled ‌down on ‌a proposal to cap

credit-card interest rates.

KEY QUOTE

"I've had calls from credit card companies, ​people that are

friends of mine, actually, and I treat ‍them good. I respect them

greatly, but they make ⁠a lot of ⁠money, they got to give people a

break," Trump said in an interview ‌on CNBC on Wednesday.

Trump did not ​name any company or executive in particular or

share further details about the calls.

WHY IT'S IMPORTANT

Trump, under ⁠pressure to address voters' cost-of-living

concerns ‍ahead of ​this year's congressional elections, said

earlier this month he was calling for a one-year cap on credit

card interest rates ‍at 10%, without detailing how he would

implement such a step.

Trump made the pledge in his 2024 election campaign as well.

He said earlier on Wednesday he was asking the U.S. Congress to

approve the move.

CONTEXT

Banking industry bodies have pushed back against ​the ‍move,

arguing it would limit credit access for everyday consumers.

Meanwhile, Wall Street analysts have said such a measure

would require ​legislation and that it would have poor odds of

passing, with Democratic and Republican lawmakers divided over

supporting it.

There has been some bipartisan interest in addressing high

rates. Democratic U.S. Senator Elizabeth Warren said on

Wednesday that a law must be passed to get a cap on credit ​card

interest rates while dismissing concerns raised by banking

groups.

Trump's Republican Party currently holds a majority in both

the Senate and the House of Representatives.