The UK gov't has confirmed that it has rejected a request from unionist parties in Northern Ireland to invoke the post-Brexit 'Stormont brake'. The 'Stormont brake' permits members of the legislative assembly (MLAs) at Stormont to object to EU laws if they see them as having a "significant impact specific to everyday life of communities in Northern Ireland in a way that is liable to persist". A motion from the hardline unionist Democratic Unionist Party (DUP) was backed by all unionist MLAs claiming that changes to EU rules on packaging and labelling of chemicals would have a "significant and prolonged" impact in Northern Ireland and that they would not be required in the rest of the UK.

• Secretary of State for Northern Ireland Hillary Benn, in a letter to Speaker of the Assembly Edwin Poots, said that the new rules did not reach the threshold for implementing the brake.
• DUP leader Gavin Robinson said the decision was 'wrong' and 'utter foolishness.' As Sky News reports, "If the brake had been pulled, there would have been unprecedented and intensive talks between the UK and EU, and possibly a vote on the rules applying in Stormont. It would undoubtedly have torn the scab off some of the old Brexit wounds, at a time when Sir Keir Starmer's government has much more pressing matters to attend to. It didn't happen this time…but it's unlikely unionists will be deterred from trying again in the future."

A new surveyfrom the New York Times and Ipsos has found that many Americans who otherwise disapprove of Trump, “share his bleak assessment of the country’s problems and support some of his most contentious prescriptions to fix them.” The report suggests that Americans are more aligned with Trump ahead of his second term than they were during his first term. 

• The Times notes: “A little more than half of the country expresses some desire to see Mr. Trump follow through with his harshest threat to deal with illegal immigration: deporting everyone living in the United States without authorization.
• “Americans are more evenly split on whether Mr. Trump should implement tariffs on countries like China and Mexico, which he has vowed to do as a way to reduce reliance on foreign goods. Still, 46 percent say that trade with foreign nations should be subject to increased tariffs."
• The Times adds: “For a political figure so divisive — Americans view him more negatively than any other president about to take office in the last 70 years — the level of support for his ideas is striking.” 

Figure 1: Support for Trump Policies, "how likely do you think it is that Trump will try to do each of the following over the next four years?"

Source: New York Times

Despite President Trump's criticism of the EV market and plans to abolish the $7,500 consumer tax credit for EVs, the US EV market may thrive during his term due to the Inflation Reduction Act, corporate tax breaks, support for Tesla owner Elon Musk, and an oil boom, Argus said.

• Argus said that boosting the US’ EV market could be the best way to keep a Republican in the White House in 2028.
• The Inflation Reduction Act, passed under Biden, has become a catalyst for EV investment, particularly in key swing states and Republican districts.
• Nearly 60% of announced projects under the Inflation Reduction Act are in Republican districts, representing 85% of investment and 68% of jobs.
• Major investments include Toyota's $13.9bn plant in North Carolina. Other swing states like Michigan, Georgia, and Texas have multiple supported projects.
• The new Trump administration faces contradictions between Musk's EV interests and Trump's "drill baby drill" policy.
• Meanwhile, oil majors ExxonMobil and Saudi Aramco are investing in lithium extraction, potentially benefiting from Trump's tax cuts and oil licence bonanza, leading to a greener America.

US President Donald Trump's inauguration speech has largely confirmed reporting ahead of today's swearing in ceremony. The speech contained few surprises and hit many of his preferred talking points. 

• Trump indicated that today's slate of executive orders will primarily pertain to energy and border security. He confirms that he will declare an 'energy emergency' today that will help bolster oil and gas production.
• Trump says inflation was caused by "massive overspending and escalated energy prices", indicating the route out of inflation is to "drill baby drill."
• Trump says he will fill the Strategic Petroleum Reserve up "right to the top" and "export American energy all over the world."
• As expected, Trump also confirmed he will declare a national emergency at the US-Mexico border that will allow for the immediate enforcement of some hardline border security measures, including deploying military assets to the border and reinstating 'remain in Mexico'.
• He confirms that he will designate narcotics cartels as foreign terrorist organisations, raising the prospect of US military force within Mexico.
• Although today's actions don't appear to cover any trade or tariff policy, Trump says he "will begin an overhaul of the trade system," and confirms the establishment of the 'External Revenue Service'.
• Trump also reiterates his desire to reassert US control over the Panama Canal.
• Trump says he will direct his Cabinet to "marshal the best powers at their disposal" to "defeat inflation" and "bring down costs and prices".