US: MNI POLITICAL RISK - GOP Leaders Downplay Schism With Musk

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• President Donald Trump will receive an intelligence briefing in the morning before signing ‘proclamations’ in the Oval Office. In the evening, he will attend an event on the South Lawn.
• Senate Finance Republicans will meet Trump at the White House to discuss the GOP megabill. In a series of messages on social media, Elon Musk described the bill as a “disgusting abomination.”
• Commerce Secretary Howard Lutnick and OMB Director Russell Vought are on Capitol Hill to provide Congressional testimony. Both will receive a grilling from Democrats.
• Canada and Mexico criticised Trump's proclamation raising the tariff on steel and aluminium imports from 25% to 50%, effective this morning. The proclamation includes a temporary carveout for the United Kingdom.
• EU Trade Commissioner, Maros Sefcovic, said he had a “productive" discussion with USTR Jamieson Greer.
• Markets await a call between Trump and Chinese President Xi Jinping as the trade conflict expands into a fight over supply chains.  
• Social Security retirement claims are set to increase 15% this year.
• Senate Majority Leader John Thune (R-SD) appears to have learnt from the recent megabill showdown in the House by looping Trump into discussions well before a potential floor vote.
• A senior Ukrainian delegation will brief US Senators today.
• The NYT is the latest to report the Trump administration’s nuclear proposal to Tehran offered a compromise on enrichment.
• Poll of the Day: Republican satisfaction is at a “near-record high”.

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