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MNI POLITICAL RISK - Trump Kicks Off Bumper Week Of Tariffs

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

Executive summary:

  • House Speaker Mike Johnson (R-LA) appears to be losing the race to dictate the GOP's legislative strategy, hinting the House may delay a Budget Committee mark up again and leaving the Senate to kickstart action on a two-bill reconciliation strategy.
  • Johnson conveyed to Senate Republicans that he does not believe his chamber can pass two reconciliation bills this year, suggesting the extension of Trump’s tax cuts could be at risk if Congress gets behind the Senate’s two-bill strategy.
  • Government funding expires in just over a month and appropriators are not close to a topline spending number.
  • Senator Andy Kim (D-NJ) indicated Democrats may be willing to use a government shutdown as leverage to oppose Elon Musk’s federal government reforms.
  • Chinese tariffs on roughly USD$14 billion worth of US exports are set to take effect today. Today, Trump is expected to impose a 25% tariff on all steel and aluminium imports. He has also teased further ‘reciprocal’ measures on trading partners this week.
  • The Senate is expected to confirm Tulsi Gabbard as DNI and Robert F. Kennedy Jr. as HHS Secretary this week.
  • OMB Director Russell Vought effectively halted the Consumer Financial Protection Bureau'soperations.
  • Trump’s special envoy to Ukraine rejected reporting that he would unveil a peace proposal at the Feb 14-16 Munich Security Conference.
  • Poll of the Day:Americans say Trump is “doing what he'd promised during his campaign…”

Please find the full article attached below: US DAILY BRIEF

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Executive summary:

  • House Speaker Mike Johnson (R-LA) appears to be losing the race to dictate the GOP's legislative strategy, hinting the House may delay a Budget Committee mark up again and leaving the Senate to kickstart action on a two-bill reconciliation strategy.
  • Johnson conveyed to Senate Republicans that he does not believe his chamber can pass two reconciliation bills this year, suggesting the extension of Trump’s tax cuts could be at risk if Congress gets behind the Senate’s two-bill strategy.
  • Government funding expires in just over a month and appropriators are not close to a topline spending number.
  • Senator Andy Kim (D-NJ) indicated Democrats may be willing to use a government shutdown as leverage to oppose Elon Musk’s federal government reforms.
  • Chinese tariffs on roughly USD$14 billion worth of US exports are set to take effect today. Today, Trump is expected to impose a 25% tariff on all steel and aluminium imports. He has also teased further ‘reciprocal’ measures on trading partners this week.
  • The Senate is expected to confirm Tulsi Gabbard as DNI and Robert F. Kennedy Jr. as HHS Secretary this week.
  • OMB Director Russell Vought effectively halted the Consumer Financial Protection Bureau'soperations.
  • Trump’s special envoy to Ukraine rejected reporting that he would unveil a peace proposal at the Feb 14-16 Munich Security Conference.
  • Poll of the Day:Americans say Trump is “doing what he'd promised during his campaign…”

Please find the full article attached below: US DAILY BRIEF