February 26, 2025 13:25 GMT
MNI POLITICAL RISK - House Takes Initiative After Budget Vote
Daily round-up of news from the US.
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Executive summary:
- 11:00 ET 16:00 GMT: US President Donald Trump will convene the first Cabinet meeting of his second term.
- House Speaker Mike Johnson (R-LA) scored a major win yesterday, passing a budget resolution that will underpin a mammoth reconciliation bill covering the bulk of President Donald Trump’s agenda.
- The House vote will ease some concerns from the Senate, but there are still major obstacles to a final package, namely the Senate's position that a tax package must make the TCJA permanent.
- Republican leaders will meet today to discuss the March 14 government funding deadline. In response to the House budget vote, the implied probability of a government shutdown decreased slightly but the overall risk remains elevated.
- CBC reports that “North America-wide tariffs are not a done deal", citing a White House clarification on Trump's Monday comments.
- Trump ordered the Commerce Department and USTR to examine tariffs on all copper imports.
- Markets are braced for Nvidia’s Q4 earnings report – the first since DeepSeek disrupted the Artificial Intelligence sector.
- Ukrainian President Volodymyr Zelenskyy will visit the White House on Friday to meet with President Trump and sign a deal to share mineral revenue with the US.
- The Senate voted 54-44 yesterday to undo a Biden-era rule limiting offshore drilling.
- Republicans are likely to shield the bulk of Biden’s clean energy investments.
- Poll of the Day:80% of Americans believe tariffs will lead to increased prices.
Please find the full article attached below: US DAILY BRIEF
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