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MNI POLITICAL RISK - Trump Escalates Tariff Rhetoric

Daily round-up of news from the US.

Executive summary:

  • US President Donald Trump confirmed his intention to impose a flat 25% tariff on goods imported from Canada and Mexico.
  • It is unclear if Trump has sufficient political capital to impose the tariffs and retain the support of the electorate - sceptical of the proposal - and Republican lawmakers from agricultural and manufacturing states, who are likely to bear the brunt of retaliatory measures.
  • Trump issued a second tariff threat directed at countries from the BRICS bloc. Brazilian President Luiz Inacio Lula da Silva, in the crosshairs of any anti-BRICS measures, told reporters he would respond in kind to any US tariffs.
  • House Speaker Mike Johnson (R-LA) is privately dialling down expectations that the House will be able to pass a reconciliation package by Easter.
  • The Senate confirmed Doug Burgum as Interior Secretary, setting up the former North Dakota governor as one of the most powerful members of Trump’s cabinet.
  • The Senate Budget Committee advanced the nomination of Russell Vought for OMB Director, despite Democrats warning of a constitutional crisis over Vought's willingness to coopt the power of the purse from Congress.
  • Secretary of State Marco Rubio said Trump’s ambition to acquire Greenland is “not a joke,” ahead of his first foreign trip, where he will meet Panama President José Raúl Mulino.
  • OpenAI CEO Sam Altman delivered a demo to a host of key Trump administration officials.
  • Poll of the Day: Tulsi Gabbard remains the most at-risk Trump Cabinet nominee. 

Please find the full article attached below: US DAILY BRIEF

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Executive summary:

  • US President Donald Trump confirmed his intention to impose a flat 25% tariff on goods imported from Canada and Mexico.
  • It is unclear if Trump has sufficient political capital to impose the tariffs and retain the support of the electorate - sceptical of the proposal - and Republican lawmakers from agricultural and manufacturing states, who are likely to bear the brunt of retaliatory measures.
  • Trump issued a second tariff threat directed at countries from the BRICS bloc. Brazilian President Luiz Inacio Lula da Silva, in the crosshairs of any anti-BRICS measures, told reporters he would respond in kind to any US tariffs.
  • House Speaker Mike Johnson (R-LA) is privately dialling down expectations that the House will be able to pass a reconciliation package by Easter.
  • The Senate confirmed Doug Burgum as Interior Secretary, setting up the former North Dakota governor as one of the most powerful members of Trump’s cabinet.
  • The Senate Budget Committee advanced the nomination of Russell Vought for OMB Director, despite Democrats warning of a constitutional crisis over Vought's willingness to coopt the power of the purse from Congress.
  • Secretary of State Marco Rubio said Trump’s ambition to acquire Greenland is “not a joke,” ahead of his first foreign trip, where he will meet Panama President José Raúl Mulino.
  • OpenAI CEO Sam Altman delivered a demo to a host of key Trump administration officials.
  • Poll of the Day: Tulsi Gabbard remains the most at-risk Trump Cabinet nominee. 

Please find the full article attached below: US DAILY BRIEF