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MNI POLITICAL RISK - Trump Adjusts Tariff Rate For Metals

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

Executive summary:

  • US President Donald Trump adjusted tariffs on all steel and aluminium products entering the United States to a flat 25%. The new tariff rate will go into effect at midnight tonight.
  • China may look to target US tech companies to leverage a position ahead of expected negotiations with the US over trade policy. 
  • Trump indicated he may provide Australia with a tariff exemption.
  • Japanese Prime Minister Shigeru Ishiba is confident an FDI pivot from China to the US can help Tokyo avoid tariffs.
  • European Commission President Ursula von der Leyen said the action would trigger "firm and proportionate" countermeasures.
  • House Speaker Mike Johnson (R-LA) is expected to outline his budget resolution at a Republican Conference meeting this morning. Johnson is contending with a competing reconciliation plan from Senate Budget Committee Chair Lindsay Graham (R-SC).
  • Congressional Republicans are willing to turn Elon Musk's DOGE spending cuts into legislation.
  • Analysts are divided over whether Democrats are likely to use a government shutdown as leverage to oppose Trump’s agenda.
  • The Senate is expected to confirm Tulsi Gabbard as Director of National Intelligence as soon as today.
  • Federal Reserve Chair Jerome Powell will appear before the Senate Banking Committee at 10:00 ET 15:00 GMT.
  • President Trump will meet with King Abdullah of Jordan at the White House today amid hardline rhetoric from Trump over the future governance and reconstruction of the Gaza Strip. 
  • Poll of the Day: Republican voters believe GOP lawmakers should push back against Trump when they disagree. 

Please find the full article attached below: US DAILY BRIEF

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Executive summary:

  • US President Donald Trump adjusted tariffs on all steel and aluminium products entering the United States to a flat 25%. The new tariff rate will go into effect at midnight tonight.
  • China may look to target US tech companies to leverage a position ahead of expected negotiations with the US over trade policy. 
  • Trump indicated he may provide Australia with a tariff exemption.
  • Japanese Prime Minister Shigeru Ishiba is confident an FDI pivot from China to the US can help Tokyo avoid tariffs.
  • European Commission President Ursula von der Leyen said the action would trigger "firm and proportionate" countermeasures.
  • House Speaker Mike Johnson (R-LA) is expected to outline his budget resolution at a Republican Conference meeting this morning. Johnson is contending with a competing reconciliation plan from Senate Budget Committee Chair Lindsay Graham (R-SC).
  • Congressional Republicans are willing to turn Elon Musk's DOGE spending cuts into legislation.
  • Analysts are divided over whether Democrats are likely to use a government shutdown as leverage to oppose Trump’s agenda.
  • The Senate is expected to confirm Tulsi Gabbard as Director of National Intelligence as soon as today.
  • Federal Reserve Chair Jerome Powell will appear before the Senate Banking Committee at 10:00 ET 15:00 GMT.
  • President Trump will meet with King Abdullah of Jordan at the White House today amid hardline rhetoric from Trump over the future governance and reconstruction of the Gaza Strip. 
  • Poll of the Day: Republican voters believe GOP lawmakers should push back against Trump when they disagree. 

Please find the full article attached below: US DAILY BRIEF