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MNI POLITICAL RISK - Bessent May Offer Clues On Tariff Agenda

Daily round-up of news from the US.
StoryPolitical Risk

Executive summary:

  • Treasury Secretary nominee Scott Bessent will appear before the Senate Finance Committee for his nomination hearing at 10:30 ET 15:30. Bessent will tell the panel that retaining the dollar’s status as the world’s reserve currency is “critical.” He will also advocate for a “careful” deployment of sanctions to address national security. Democrats will probe his personal tax history and past comments that appeared to question Fed independence.
  • Two of Trump’s key energy-related Cabinet picks will face Senate scrutiny today.
  • Senate Majority Leader John Thune (R-SD) has a "fairly lengthy list" of Biden's energy orders to reverse. 
  • Biden warned of an emerging US oligarchy in his farewell address to the American people.
  • SecState nominee Marco Rubio indicated the Trump administration will continue AUKUS and suggested Ukraine will have to cede territory to Russia.
  • Senate negotiators are concerned that talks on FY25 spending are behind schedule.
  • Entrepreneur Vivek Ramaswamy may be eying a run for Ohio governor.
  • The House Freedom Caucus has proposed a corporate tax hike to offset the cost of SALT. 
  • The Commerce Department has announced the final reward from the CHIPS and Science Act.
  • The Trump administration may follow Biden's lead on aggressive antitrust enforcement.
  • Biden and Trump both claimed credit for a Gaza ceasefire agreement.
  • House Speaker Mike Johnson (R-LA) removed a prominent Republican Ukraine advocate from the top House intelligence job.
  • Poll of the Day: Trump is set to enter office with his best-ever approval rating. 

Please find the full article attached below: US Daily Brief

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Executive summary:

  • Treasury Secretary nominee Scott Bessent will appear before the Senate Finance Committee for his nomination hearing at 10:30 ET 15:30. Bessent will tell the panel that retaining the dollar’s status as the world’s reserve currency is “critical.” He will also advocate for a “careful” deployment of sanctions to address national security. Democrats will probe his personal tax history and past comments that appeared to question Fed independence.
  • Two of Trump’s key energy-related Cabinet picks will face Senate scrutiny today.
  • Senate Majority Leader John Thune (R-SD) has a "fairly lengthy list" of Biden's energy orders to reverse. 
  • Biden warned of an emerging US oligarchy in his farewell address to the American people.
  • SecState nominee Marco Rubio indicated the Trump administration will continue AUKUS and suggested Ukraine will have to cede territory to Russia.
  • Senate negotiators are concerned that talks on FY25 spending are behind schedule.
  • Entrepreneur Vivek Ramaswamy may be eying a run for Ohio governor.
  • The House Freedom Caucus has proposed a corporate tax hike to offset the cost of SALT. 
  • The Commerce Department has announced the final reward from the CHIPS and Science Act.
  • The Trump administration may follow Biden's lead on aggressive antitrust enforcement.
  • Biden and Trump both claimed credit for a Gaza ceasefire agreement.
  • House Speaker Mike Johnson (R-LA) removed a prominent Republican Ukraine advocate from the top House intelligence job.
  • Poll of the Day: Trump is set to enter office with his best-ever approval rating. 

Please find the full article attached below: US Daily Brief