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MNI POLITICAL RISK - Trump Eyes Expanded Commerce Dept

Daily round-up of news from the US.
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Executive summary:

  • US President-elect Donald Trump will tap the CEO of Cantor Fitzgerald, Howard Lutnick, to serve as his Commerce Secretary, noting that Lutnick "will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative.”
  • Trump’s comments suggest that he envisages a broader portfolio for Commerce that may include folding the USTR into the department, a move former President Barack Obama tried unsuccessfully in 2012.
  • Betting markets continue to whipsaw on news snippets without alighting on a clear favourite for Trump's Treasury Secretary nominee. Frontrunners include Senator Bill Hagerty (R-TN), who spent the week with Trump at Mar-a-Lago and Marc Rowan and Kevin Warsh, who are both set for vetting meetings this week.
  • The House Republican conference held a closed-door meeting yesterday to discuss legislative priorities for the first 100 days of the Trump administration, including a package to be passed under budget reconciliation – a procedural tool to move tax and spending legislation without a Senate supermajority.
  • Commerce Secretary Gina Raimondo intends to allocate all the USD$50 billion of funding from the 2022 CHIPS and Science Act before Trump takes office.
  • US officials downplayed President Vladimir Putin's adjustment to Russia's nuclear doctrine.
  • The US officially recognised opposition candidate Edmundo González Urrutia as Venezuela’s president-elect
  • Poll of the Day:Ukrainians are souring on US leadership. 

Please find the full article attached below: US Daily Brief

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Executive summary:

  • US President-elect Donald Trump will tap the CEO of Cantor Fitzgerald, Howard Lutnick, to serve as his Commerce Secretary, noting that Lutnick "will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative.”
  • Trump’s comments suggest that he envisages a broader portfolio for Commerce that may include folding the USTR into the department, a move former President Barack Obama tried unsuccessfully in 2012.
  • Betting markets continue to whipsaw on news snippets without alighting on a clear favourite for Trump's Treasury Secretary nominee. Frontrunners include Senator Bill Hagerty (R-TN), who spent the week with Trump at Mar-a-Lago and Marc Rowan and Kevin Warsh, who are both set for vetting meetings this week.
  • The House Republican conference held a closed-door meeting yesterday to discuss legislative priorities for the first 100 days of the Trump administration, including a package to be passed under budget reconciliation – a procedural tool to move tax and spending legislation without a Senate supermajority.
  • Commerce Secretary Gina Raimondo intends to allocate all the USD$50 billion of funding from the 2022 CHIPS and Science Act before Trump takes office.
  • US officials downplayed President Vladimir Putin's adjustment to Russia's nuclear doctrine.
  • The US officially recognised opposition candidate Edmundo González Urrutia as Venezuela’s president-elect
  • Poll of the Day:Ukrainians are souring on US leadership. 

Please find the full article attached below: US Daily Brief