MNI POLITICAL RISK - Economy Weighs On Trump At 100 Days

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Executive summary:

• President Donald Trump will host a Cabinet meeting this morning before delivering a second speech in two days, this afternoon.
• Armed with an EO to insulate the auto sector from ‘tariff stacking’, Trump gave a campaign rally-style speech in Michigan yesterday focused on immigration, an area where he retains public support.
• The Senate is expected to vote today on a symbolic resolution to block Trump’s reciprocal tariffs. Earlier this month, four Republican Senators joined with Democrats to vote in favour of a similar resolution.
• USTR Jamieson Greer assured Senate Republicans that market-soothing trade deals are in the works.
• The economy is starting to weigh heavily on Trump’s presidency, with consumer confidence falling to its lowest level since May 2020 and polling showing voters tie the economy to Trump.
• European Commission President Ursula von der Leyen warned Trump’s tariffs are a threat to global prosperity.
• Trump said China is likely to “eat” the cost of tariffs, despite signs that Chinese companies appear to be passing the duties to US consumers.
• Trump has again complicated the drafting of the 'big beautiful' reconciliation bill with tax demands.
• Senate Majority Leader John Thune (R-SD) said the Senate will address a landmark stablecoin bill before May 26.
• The US and Ukraine could sign a mineral deal as soon as today.  
• Poll of the Day: Americans are likely to cut back on discretionary purchases if tariffs provoke price rises.

Please find the full article attached below: US DAILY BRIEF