MNI POLITICAL RISK - Ukraine Aid On Agenda As Congress Returns

Executive Summary:

• House Speaker Mike Johnson (R-LA) will meet members of the House Republican conference this week as he attempts to alight on a strategy for passing aid for Ukraine and Israel without sparking a conservative rebellion which could cost him his job.
• The GOP-led House Energy and Commerce Committee will hold a field hearing in Port Arthur, Texas today to discuss President Biden’s LNG export pause.
• TSMC has agreed to boost investment in the US by more than 60% - to over USD$65 billion – and build leading-edge 2-nanometer semiconductors in the US for the first time.
• Treasury Secretary Janet Yellen said at a press conference in Beijing today that the US-China relationship is on “stronger footing today than this time last year,” but warned the the US would "not accept" China flooding global markets with "artificially cheap Chinese products."
• President Biden will announce new plans to cancel student debt for, “tens of millions of Americans” in a speech in Maddison, Wisconsin today – renewing commitment to a pledge which was struck down the Supreme Court last June.
• The USD$78 billion bipartisan tax deal's prospects of passing the Senate have ticked up following a softening of opposition from the GOP.
• Defence ministers from the US, UK, and Australia are expected to release a statement today which could include aspirations for Japan to join AUKUS.
• Poll of the Day: Health care is the most important political issue for American voters.

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MNIPOLRISKUSDaily080424.pdf