Executive summary:
- President Donald Trump is in the Netherlands for a truncated NATO leaders’ summit focused on wrapping up a pledge to boost NATO defence spending to 5% of GDP, a major win that offers Trump a victory lap.
- Trump will meet with Ukrainian President Volodymyr Zelenskyy, with the latter attempting to recentralise Russia’s war in Ukraine after the conflict took a backseat to the Israel-Iran war. Secretary of State Marco Rubio said the US is not ready to consider additional sanctions on Russia.
- Democratic socialist Zohran Mamdani is on track to win the New York mayoralty, triggering another partisan flashpoint in US politics.
- Trump administration officials and Israeli intelligence have pushed back against reports that US strikes failed to significantly damage Iranian nuclear sites.
- Fed Chair Jay Powell is on Capitol Hill for a second round of testimony on the Semi-Annual Monetary Policy Report.
- Senate Majority Leader John Thune (R-SD) is likely to gamble that pressure from Trump will be enough to force the OBBB through the Senate. Thune is expected to hold the first procedural votes on the bill on Friday. The House Freedom Caucus is signalling that they will vote no on the Senate package, in its current form.
- NEC Director Kevin Hassett said the Trump administration is waiting for Congress to complete the OBBB before announcing pending trade deals.
- Poll of the Day: Republican support for Iran strikes has surged since the military action.
Please find the full article attached below: US DAILY BRIEF