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Executive Summary:

  • “Steady progress is being made,” towards a bipartisan debt limit deal with the possibility that a framework for legislation may be ready by Sunday or Monday.
  • Biden is facing a growing rebellion from progressive Congressional Democrats who were blindsided by Biden’s U-turn on negotiating Republican policy priorities.
  • Chinese Commerce Minister Wang Wentao will travel to Washington next week for meetings with USTR Katherine Tai and Commerce Secretary Gina Raimondo, a significant step towards the normalisation of cabinet level talks between Washington and Beijing.
  • The USTR has announced that negotiations “have concluded on the U.S.-Taiwan Initiative on 21st Century Trade.”
  • The Pentagon has revealed that the correction of an accounting error has freed up funds in the Ukraine pot.
  • G7 leaders have issued a statement declaring they "will mobilize all our policy instruments" to bring peace to Ukraine.
  • Senator Tim Scott (R-SC) is preparing to formally announce a White House bid.
  • Fourteen countries in US-led Indo-Pacific trade talks are nearing an agreement on supply chains.
  • US Secretary of State Antony Blinken will travel to Papua New Guinea to salvage a defence agreement with Pacific Island nations.
  • Poll of the Day: Most US adults want to see the debt limit raised with measures to reduce the deficit.

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 19-05-23 .pdf

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