January 23, 2025 13:26 GMT
MNI POLITICAL RISK - Market Braces For Trump's WEF Address
Daily round-up of news from the US.
Executive summary:
- 11:00 ET 16:00: President Donald Trump will address the World Economic Forum in Davos. Having already driven much of the Davos conversation with his executive orders and tariff remarks, markets will be watching closely for concrete statements on his trade agenda.
- Republican leaders are searching for offsets to fund an expensive reconciliation agenda. A House Ways and Means budget document estimates that a 10 percent across-the-board tariff could raise USD$1.9 trillion over a decade.
- JPMorgan CEO Jamie Dimon said the national security benefits of Trump tariffs could outweigh downsides for inflation.
- Republicans are considering a bipartisan package to cover government funding, a debt limit hike, California wildfire aid, and border security funds.
- The Senate is expected to confirm John Ratcliffe as Trump's CIA Director today. Treasury Secretary nominee Scott Bessent appears on track for a full confirmation vote on Sunday or Monday.
- The Pentagon is deploying around 1,500 troops to the southern border.
- Secretary of State Marco Rubio spoke with Middle Eastern leaders, continuing his busy first week in office.
- Trump's designation of Mexican cartels as foreign terrorist organisations could force American companies out of Mexico.
- Trump delivered his first post-inaugural threat to Russian President Vladimir Putin.
- Trump re-designated the Houthi rebels in Yemen as a terrorist organisation.
- Saudi Arabia is open to increasing investment and trade with the US.
- Poll of the Day: Americans believe Trump tariffs will raise the price of consumer goods.
Please find the full article attached below: US DAILY BRIEF
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