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MNI POLITICAL RISK - Biden Admin Eyes Productive Lame Duck

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

Executive summary:

  • US President Joe Biden described President-elect Donald Trump's tariff proposals as 'counterproductive' in ad hoc remarks to the press in Nantucket, Massachusetts.
  • US retailers are using the risk of Trump’s proposed tariffs to promote sales, which, according to the National Retail Federation, could cost shoppers up to USD$78 billion in annual spending power.
  • The Biden administration is pursuing an aggressive lame-duck strategy to insulate major policy items from cuts during the Trump administration, achieve foreign policy objectives, and confirm judicial branch nominees.
  • News outlets continue to warn that the GOP’s razor-thin majority in the House of Representatives could impede Trump’s legislative agenda. Trump's agenda is also expected to face "a wall of legal challenges" from Democrat state officials.
  • Trump's incoming National Security Advisor, said Trump's election marks a "step towards restoring deterrence" regarding Iran.
  • President Biden said in a statement that the Department of Defense will continue weapons shipments to Ukraine during the lame-duck period.
  • Increasingly hawkish rhetoric from Russian President Vladimir Putin could be a negotiating tool ahead of Trump's inauguration.
  • Poll of the Day: Majorities of Americans expect Trump will fulfill his campaign promises.

Please find the full article attached below: US Daily Brief

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Executive summary:

  • US President Joe Biden described President-elect Donald Trump's tariff proposals as 'counterproductive' in ad hoc remarks to the press in Nantucket, Massachusetts.
  • US retailers are using the risk of Trump’s proposed tariffs to promote sales, which, according to the National Retail Federation, could cost shoppers up to USD$78 billion in annual spending power.
  • The Biden administration is pursuing an aggressive lame-duck strategy to insulate major policy items from cuts during the Trump administration, achieve foreign policy objectives, and confirm judicial branch nominees.
  • News outlets continue to warn that the GOP’s razor-thin majority in the House of Representatives could impede Trump’s legislative agenda. Trump's agenda is also expected to face "a wall of legal challenges" from Democrat state officials.
  • Trump's incoming National Security Advisor, said Trump's election marks a "step towards restoring deterrence" regarding Iran.
  • President Biden said in a statement that the Department of Defense will continue weapons shipments to Ukraine during the lame-duck period.
  • Increasingly hawkish rhetoric from Russian President Vladimir Putin could be a negotiating tool ahead of Trump's inauguration.
  • Poll of the Day: Majorities of Americans expect Trump will fulfill his campaign promises.

Please find the full article attached below: US Daily Brief