(Reuters) - Highlights for U.S. President Donald Trump’s administration on Friday: The Trump administration could respond to North Korea’s latest failed missile test by speeding plans for new U.S. sanctions against Pyongyang, including possible measures against specific North Korean and Chinese entities, a U.S. official says. Secretary of State Rex Tillerson warns failure to curb North Korea’s nuclear and missile development could lead to “catastrophic consequences” while China and Russia rebuke Washington for its threat of force. Trump signs a bill approved by the Republican-led Congress to avert a U.S. government shutdown and give lawmakers another week to work out federal spending through Sept. 30, with tricky issues like defense spending still unresolved. Trump pledges to uphold Americans’ right to possess guns in a speech that he uses to revisit some 2016 election campaign themes from his vow to build a border wall to dismissing Democratic Senator Elizabeth Warren as “Pocahontas.” Trump tells Reuters he will either renegotiate or terminate what he calls a “horrible” free trade deal with South Korea and says Seoul should pay for a U.S. anti-missile system he prices at $1 billion. A 5-year-old U.S.-South Korean trade deal could be improved to increase access for American vehicles and deter currency manipulation but changes will not necessarily shrink the U.S. trade deficit with the Asian export powerhouse. OBAMA-ERA REGULATIONS Lawmakers, lobbyists and interest groups are making a final push in their fight over regulations enacted during former President Barack Obama’s last months in office, with the financial services industry working hard to kill a rule on retirement plans run by states. Trump signs an executive order to extend offshore oil and gas drilling to areas that have been off limits — a move meant to boost domestic production but that could fall flat due to weak industry demand for the acreage. A U.S. appeals court grants a Trump administration request to put on hold a legal challenge by industry and a group of states to Obama administration regulations aimed at curbing greenhouse emissions mainly from coal-fired power plants, rules Trump is moving to undo. In an unexpected triumph for privacy advocates, the U.S. National Security Agency says it has stopped a form of surveillance that allowed warrant-less collection of the digital communications of Americans who mentioned a foreign intelligence target in their messages. 