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MNI POLITICAL RISK - First Trump Nominee Faces Senate Scrutiny

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

Executive summary:

  • The first of President-elect Donald Trump’s Cabinet nominations will face Senate scrutiny today. Defense Secretary nominee Pete Hegseth will receive a grilling from Senate Armed Services Committee Democrats on misconduct allegations, and his lack of managerial experience, but is expected to pass Senate confirmation.  
  • The House Ways and Means Committee will gavel in today for a hearing on the extension of Trump’s first-term tax cuts.
  • President Biden defended his legacy in his final foreign policy speech of his presidency, arguing that he oversaw the rehabilitation of US multilateralism and enacted policies that will bolster the US’ global standing in the years to come.
  • Trump’s team are discussing a gradual approach to tariffs, according to a Bloomberg report.
  • A new Conference Board survey found that 71% of US CEOs are planning to modify their supply chains to offset the disruption of tariffs.
  • Biden announced yesterday his administration will forgive the student loans of 150,000 more borrowers.
  • Cutting edge 'made in America' chips from TSMC's Arizona plant could hit the market as soon as this quarter.
  • Russian Foreign Minister Sergei Lavrov told reporters this morning that Russia will “study” Trump’s peace initiatives on Ukraine, “when he takes office."
  • Israel and Hamas appear on the verge of a ceasefire-for-hostage deal that will lay the foundations for an armistice in Gaza.
  • Chart of the Day: Americans offered a negative assessment of progress made under Biden's presidency. 

Please find the full article attached below: US Daily Brief

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Executive summary:

  • The first of President-elect Donald Trump’s Cabinet nominations will face Senate scrutiny today. Defense Secretary nominee Pete Hegseth will receive a grilling from Senate Armed Services Committee Democrats on misconduct allegations, and his lack of managerial experience, but is expected to pass Senate confirmation.  
  • The House Ways and Means Committee will gavel in today for a hearing on the extension of Trump’s first-term tax cuts.
  • President Biden defended his legacy in his final foreign policy speech of his presidency, arguing that he oversaw the rehabilitation of US multilateralism and enacted policies that will bolster the US’ global standing in the years to come.
  • Trump’s team are discussing a gradual approach to tariffs, according to a Bloomberg report.
  • A new Conference Board survey found that 71% of US CEOs are planning to modify their supply chains to offset the disruption of tariffs.
  • Biden announced yesterday his administration will forgive the student loans of 150,000 more borrowers.
  • Cutting edge 'made in America' chips from TSMC's Arizona plant could hit the market as soon as this quarter.
  • Russian Foreign Minister Sergei Lavrov told reporters this morning that Russia will “study” Trump’s peace initiatives on Ukraine, “when he takes office."
  • Israel and Hamas appear on the verge of a ceasefire-for-hostage deal that will lay the foundations for an armistice in Gaza.
  • Chart of the Day: Americans offered a negative assessment of progress made under Biden's presidency. 

Please find the full article attached below: US Daily Brief