MNI POLITICAL RISK - Trump Adjusts Tariff Rate For Metals

Executive summary:

• US President Donald Trump adjusted tariffs on all steel and aluminium products entering the United States to a flat 25%. The new tariff rate will go into effect at midnight tonight.
• China may look to target US tech companies to leverage a position ahead of expected negotiations with the US over trade policy. 
• Trump indicated he may provide Australia with a tariff exemption.
• Japanese Prime Minister Shigeru Ishiba is confident an FDI pivot from China to the US can help Tokyo avoid tariffs.
• European Commission President Ursula von der Leyen said the action would trigger "firm and proportionate" countermeasures.
• House Speaker Mike Johnson (R-LA) is expected to outline his budget resolution at a Republican Conference meeting this morning. Johnson is contending with a competing reconciliation plan from Senate Budget Committee Chair Lindsay Graham (R-SC).
• Congressional Republicans are willing to turn Elon Musk's DOGE spending cuts into legislation.
• Analysts are divided over whether Democrats are likely to use a government shutdown as leverage to oppose Trump’s agenda.
• The Senate is expected to confirm Tulsi Gabbard as Director of National Intelligence as soon as today.
• Federal Reserve Chair Jerome Powell will appear before the Senate Banking Committee at 10:00 ET 15:00 GMT.
• President Trump will meet with King Abdullah of Jordan at the White House today amid hardline rhetoric from Trump over the future governance and reconstruction of the Gaza Strip. 
• Poll of the Day: Republican voters believe GOP lawmakers should push back against Trump when they disagree. 

Please find the full article attached below: US DAILY BRIEF