US: MNI POLITICAL RISK - Trump's Mixed Messages On April 2 Tariffs
Mar-26 13:20
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- The Trump administration is in damage control as the Signal chat scandal enters its third day. The story is likely to overshadow Defense Secretary Pete Hegseth’s Asia trip, where he is scheduled to meet with Japanese and Philippine leaders to shore up Indo-Pacific relations.
- Trump advisor Elon Musk and members of his Department of Government Efficiency (DOGE) team will sit for an interview with Fox News’ Brett Baier today.
- Trump told Newsmax he intends to limit the number of exceptions to his reciprocal tariff regime, slated to go into effect on April 2.
- Copper prices surged to record highs after reports that duties on the metal could be imposed within several weeks, far quicker than anticipated.
- India is reportedly open to cutting tariffs on more than USD$23 billion of imports to fend off Trump's reciprocal tariffs.
- House Speaker Mike Johnson (R-LA) and Senate Majority Leader John Thune (R-SD) agreed on a loose framework for legislating Trump's agenda. Thune agreed to address the debt limit in the reconciliation package, a move that will rankle with deficit hawks and add a layer of complexity to negotiations.
- Trump said yesterday it is possible Russian President Vladimir Putin is “dragging his feet” on a ceasefire deal despite a tentative agreement towards a maritime truce in the Black Sea.
- Poll of the Day: Consumer confidence declined for the fourth month straight in March.
Full Article: US DAILY BRIEF
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US: MNI POLITICAL RISK - Speaker Johnson Eyes Tuesday Budget Vote
Feb-24 13:18
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- House Speaker Mike Johnson (R-LA) will press forward this week in his bid to adopt a budget resolution to underpin a multi-trillion reconciliation package. A vote this week, without clear GOP support, risks a defeat for Johnson that would hand the initiative back to the Senate, who passed their competing budget resolution last week.
- Johnson and Budget Committee Chair Jodey Arrington (R-TX) are reportedly surveying members about counting the cost of extending the 2017 TCJA as zero.
- BlackRock and the Bipartisan Policy Center are convening a summit of business and political leaders to address the “impending crisis” surrounding Americans’ retirement plans.
- President Trump’s special advisor Elon Musk is facing pushback from other corners of the executive, after DOGE issued a directive for government employees to justify their role or risk having their employment terminated.
- Kremlin spokesperson Dmitri Peskov told reporters this morning that US and Russian officials will hold further talks this week, ahead of another key week of Ukraine diplomacy with French President Emmanuel Macron in Washington today and UK Prime Minister Keir Starmer in Washington Thursday for talks with Trump.
- Macron and Trump will deliver a joint press conference at the White House at 14:00 ET 19:00 GMT.
- Ukraine's deputy prime minister said negotiators “are in the final stages” of talks regarding a minerals deal.
- Poll of the Day: Trump's polling numbers are "flashing yellow".
USD: USDJPY tests a new intraday high.
Feb-24 13:16
- The USDJPY is close to achieving another 100 pips traded range as it pushes to session high, on the back of selling interest in US Treasuries (tick higher in Yield).
- There isn't much in terms of Technical at current levels and some will look at 150.74 initially, this was Friday's high.
GLOBAL POLITICAL RISK: Week Ahead 24 February-2 March
Feb-24 13:16
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MNI's Political Risk Team has published its Week Ahead article, looking at the major political events taking place around the world this week. Includes details on Ukraine's allies meeting on 3rd anniversary of Russian invasion; Trump hosting French & UK leaders; and the House GOP looking to pass budget legislation in the US.
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