MNI POLITICAL RISK - Trump Aligns w/Europe Ahead Of Putin Meet

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Executive summary:

• President Donald Trump will receive an intelligence briefing before delivering White House remarks at 13:00 ET 18:00 BST.
• Trump said he does not need Congressional approval to extend his federalisation of DC law enforcement.
• European leaders expressed cautious optimism that Trump is aligned with Ukraine ahead of Friday's summit with Russian President Vladimir Putin.
• European leaders appear to have received a commitment from Trump to advance two priorities: (1) A ceasefire along the frontline must precede any negotiations and, (2) cession of Ukrainian territory must be agreed bilaterally between Zelenskyy and Putin, then subject to a Ukrainian referendum per the country’s constitution.
• Trump warned that Russia would face “very severe consequences” if he determined Putin wasn’t genuine in his desire to end the war.
• Treasury Secretary Scott Bessent said the Fed should initiate a cycle of interest-rate cuts in September.
• Trump said he has four candidates in mind for Fed Chair and will name his nominee “a little bit early," a divergence from Bessent's claim the White House is working on a larger longlist.
• The results of Trump's Section 232 probes into new sectoral tariffs may be weeks away.
• Trump did little to project confidence that a bipartisan funding deal will be reached to avert a government shutdown.
• South Africa outlined its strategy to reduce a 30% tariff rate.
• Poll of the Day: Only 15% of Canadians approve of US leadership. 

Please find the full article attached below: US DAILY BRIEF