MNI POLITICAL RISK - Senate Starts Voting On GOP Megabill

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Executive summary:

• President Donald Trump will sign Executive Orders at 14:30 ET 19:30 BST. Press Secretary Karoline Leavitt will brief at 13:00 ET 18:00 BST. Treasury Secretary Scott Bessent will be on Bloomberg TV at 09:30 ET 14:30 BST to tout a Canada trade win and apply pressure on Republicans to back the OBBB.
• A Senate ‘vote-a-rama’ on the One Big Beautiful Bill is expected to get underway at 09:00 ET 14:00 BST. The megabill is likely to pass today (or early tomorrow), setting up a major test of Trump's influence over House Republicans on Wednesday. The Senate will also vote on an accounting manoeuvre that critics say obscures the deficit implications of the package and could transform how both parties approach budget reconciliation.   
• The administration continues to offer mixed messages on trade negotiations. Bessent floated Labor Day as a new deadline. Trump reiterated that tariff rates will be imposed unilaterally if deals aren't struck.
• Amid pressure from Trump, Canadian Prime Minister Mark Carney nixed a Digital Services Tax that was set to take effect today.
• Trump floated keeping a 25% tariff on Japanese autos as he presses to close the trade deficit.
• Trump said he is working on a temporary pass for migrant workers in critical sectors.
• Trump downplayed new nuclear talks with Iran. The IAEA chief appeared to back an intelligence leak warning of limited damage to Iran's nuclear programme.
• Poll of the Day: 53% of Americans back tariffs to protect US jobs.

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