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MNI POLITICAL RISK - Biden To Bolster Image As Global Leader

US
  • The G7 leaders summit, underway in Italy, is likely to be President Biden’s last major international trip before Election Day. The White House hopes a set of deliverables, including a plan to use immobilised Russian sovereign assets to finance a USD$50 billion loan to Ukraine, a 10-year bilateral security agreement to ‘Trump-proof’ support for Kyiv, a joint response to Chinese 'overcapacity' in green manufacturing, and a unified message on Gaza, can lend credibility to Biden's argument that he is better equipped to manage global affairs than former President Trump.
  • The annual Pentagon spending bill, the National Defense Authorisation Act, cleared it first procedural hurdle in the House of Representatives.
  • Treasury Secretary Janet Yellen will tout Biden's economic agenda and outline her “modern-supply side economic strategy," at an event in New York. Parallel to Yellen’s speech, Trump will sit down for a fireside chat with his former economic advisor Larry Kudlow to make his economic pitch at a Business Roundtable event in Washington, D.C.
  • Trump will then head to the US Capitol to meet GOP lawmakers to discuss plans for governance in 2025. Republicans are looking at Democrats' Inflation Reduction Act, as a potential template to move legislation and avoid the logjam that accompanied the early months of Trump’s first term.
  • Biden administration officials warned Hamas that the “the time for haggling is over” after receiving the group’s response to the three-phase Gaza ceasefire-for-hostages proposal.
  • Poll of the Day: Ohio voters may split their ticket in November.
Full article: US Daily Brief
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