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MNI POLITICAL RISK - Senate Takes The Lead On Trump's Agenda

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

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Executive summary:

  • Senate Majority Leader John Thune (R-SD) opened floor action on a budget resolution to underpin a USD$300 billion reconciliation bill, escalating a showdown with the House over President Donald Trump's agenda. The move signals the Senate is sceptical Speaker Mike Johnson (R-LA) can corral his conference behind a single 'megabill' that includes deep spending cuts and a debt ceiling hike.
  • President Trump added another layer of complexity to the House reconciliation plan, telling Fox News’ Sean Hannity that Medicaid will be ringfenced from cuts, leaving few options for achieving spending cuts required to fund Trump's tax agenda.
  • President Trump issued a fresh tariff threat yesterday, telling reporters that he is likely to impose a 25% tariff on automobile, semiconductor, and pharmaceutical imports as soon as April 2, when an interagency trade review is completed.
  • Trump signed an executive order that would give him more authority over agencies that operate with some independence from the White House.
  • The Trump administration upended years of US policy towards Russia, pledging to restore lines of communication with Moscow and appearing to endorse several key Kremlin talking points over the war in Ukraine.
  • Trump’s hardline position on Ukraine, although telegraphed on the presidential election campaign trail, may be a difficult sell to Senate Republicans – many of whom have spent years advocating for Ukraine funds and bolstering NATO.
  • Poll of the Day:70% of voters believe tariffs will raise prices.

Please find the full article attached below: US DAILY BRIEF

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Executive summary:

  • Senate Majority Leader John Thune (R-SD) opened floor action on a budget resolution to underpin a USD$300 billion reconciliation bill, escalating a showdown with the House over President Donald Trump's agenda. The move signals the Senate is sceptical Speaker Mike Johnson (R-LA) can corral his conference behind a single 'megabill' that includes deep spending cuts and a debt ceiling hike.
  • President Trump added another layer of complexity to the House reconciliation plan, telling Fox News’ Sean Hannity that Medicaid will be ringfenced from cuts, leaving few options for achieving spending cuts required to fund Trump's tax agenda.
  • President Trump issued a fresh tariff threat yesterday, telling reporters that he is likely to impose a 25% tariff on automobile, semiconductor, and pharmaceutical imports as soon as April 2, when an interagency trade review is completed.
  • Trump signed an executive order that would give him more authority over agencies that operate with some independence from the White House.
  • The Trump administration upended years of US policy towards Russia, pledging to restore lines of communication with Moscow and appearing to endorse several key Kremlin talking points over the war in Ukraine.
  • Trump’s hardline position on Ukraine, although telegraphed on the presidential election campaign trail, may be a difficult sell to Senate Republicans – many of whom have spent years advocating for Ukraine funds and bolstering NATO.
  • Poll of the Day:70% of voters believe tariffs will raise prices.

Please find the full article attached below: US DAILY BRIEF