MNI POLITICAL RISK - Trump Xi Meeting Confirmed For Thursday

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Executive summary:

• President Donald Trump is in South Korea for the final leg of his Asia trip. Trump said a trade with Seoul was "pretty much finalised.”
• Trump confirmed he will meet Chinese President Xi Jinping on the margins of APEC on Thursday. The meeting is likely to take place at 22:00 ET (Wednesday) 02:00 GMT 11:00 local. Trump predicted the meeting could go for three or four hours. 
• The prevailing view among analysts is that the tariff and export control truce will be extended, but a more comprehensive trade deal is likely to remain elusive. Trump was bullish that a deal would be struck on Fentanyl, opening the door for a reduction in tariffs on Chinese exports. Trump also hinted at providing China access to Nvidia’s powerful Blackwell AI chip.
• Five Republican senators voted with Democrats to pass a messaging resolution blocking Trump’s Brazil tariffs, showing there is a workable anti-Trump coalition in the Senate.
• Senate Democrats blocked the House-passed Republican government funding bill for the 13th time. Bipartisan talks have “picked up” but there doesn’t appear to be an immediate offramp out of the shutdown. 
• The Gaza ceasefire is facing a major test after Israeli strikes. 
• A bipartisan coalition of governors urged Congress to pass legislation easing energy permitting rules.
• The US struck four more alleged drug vessels in the Eastern Pacific.
• Chart of the Day: 'Lopsided' US trade deals could push Southeast Asian nations closer to China.

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