MNI POLITICAL RISK - Pope's Funeral Offers Access To Trump

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Executive summary:

• President Donald Trump departs Washington today for the funeral of Pope Francis, providing an opportunity for sideline meetings with world leaders looking for clarity on trade policy.
• Trump touted 200 yet-to-be-announced trade deals and said that Chinese President Xi Jinping called him, in a wide-ranging interview with Time Magazine that is likely to add to the uncertainty over the level of communication between Washington and Beijing. 
• Treasury Secretary Scott Bessent told reporters that his team will be “talking technical terms” on a trade deal with South Korea as early as next week.
• Markets appear receptive to Trump's apparent softening on China but analysts warn that Beijing is in no rush to make a deal with Trump, and a partial reduction of China tariffs may offer little incentive for a deal.
• EU trade chief Valdis Dombrovskis is expected to meet Bessent today.
• The Ways and Means Committee is looking to mark up the tax portion of the Republican reconciliation bill on May 12 and 13, with tax writers considering a new cap on business SALT.
• Trump’s chief negotiator arrived in Moscow this morning for his fourth meeting with Russian President Vladimir Putin after Trump sharpened his tone towards Moscow.
• Trump indicated he would be open to meeting with Iranian leaders as he pushes for a new nuclear accord. 
• Poll of the Day: Trump’s approval rating continues to decline “slightly quicker than his recent predecessors.” 

Please find the full article attached below: US DAILY BRIEF