MNI POLITICAL RISK - Trump Punts Decision On Iran Strikes

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Executive summary:

• At 11:00 ET 16:00 BST, President Donald Trump will hold a fourth consecutive meeting with his national security team.
• After three days of deliberations on joining Israeli strikes on Iran, Trump deferred his decision for (within) two weeks to allow time for a diplomatic offramp. Markets have been receptive, but there are few signs of the war abating on the ground, or the principal combatants showing the flexibility that will facilitate a breakthrough.
• Analysts have pointed out that the pause allows Israel space to continue its war objectives and could buy more time for the US to manoeuvre military assets to the region.
• The first diplomatic test comes today when Iran’s FM Abbas Araghchi meets his E3 counterparts in Geneva. Araghchi's comments ahead of the meeting hinted at a compromise on enrichment but appeared to rule out zero enrichment - a stated goal for both the US and Israel.
• The Senate Parliamentarian is expected to conclude the 'Byrd Bath' on the OBBB by the middle of next week, when Senate Majority Leader Thune (R-SD) intends to hold first votes on the bill.
• India is eyeing its trade deal with the UK as a blueprint for negotiations with Washington.
• FHFA Director Bill Pulte called on Fed Chair Powell to resign.
• The Kremlin expects a new date for Ukraine talks next week.
• Trump extended the TikTok ban for a third time.
• Poll of the Day: Fewer Americans support Trump's deportation policy.

Please find the full article attached below: US DAILY BRIEF