MNI POLITICAL RISK - Treasury Sec Yellen Arrives In China

Executive Summary:

• US Treasury Secretary Janet Yellen has touched down in Beijing with unenviable task of convincing Beijing that US-led exports controls on high-tech, and a drive to diversify supply chains outside of China, aren’t designed to constrain China’s economic growth.
• Yellen's trip comes as Beijing makes its first serious counter-play to US measures by applying export controls on two minerals which are essential for semiconductor production and clean tech.
• President Biden will give the first major speech of his “Bidenomics” tour today.
• UPS workers have edged closer to strike action after management failed to reach an agreement with Teamsters.
• The US Navy says it prevented Iranian forces from seizing two commercial tankers in the Gulf of Oman yesterday.
• Democrats are recording record fundraising numbers ahead of a highly challenging 2024 Senate map.
• Senate Minority Leader Mitch McConnell (R-KY) says he supports a move to block the sale of F16 fighter jets to Turkey, “until Ankara ends its blockade of Sweden’s NATO accession.”
• Republicans are increasingly supportive of sending the US military into Mexico to counter the flow of narcotics.
• Poll of the Day: Confidence in US institutions nears all-time lows.

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 06-07-23 .pdf