MNI POLITICAL RISK - White House Eyeing Handshake Deal w/China

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Executive summary:

• President Donald Trump will deliver remarks today at a military event in Fort Bragg, North Carolina.
• Trump escalated his rhetoric toward California’s Democratic leaders, doubled the number of National Guard troops deployed in the state to quell unrest to 4000, and directed a battalion of US Marines to complement the National Guard.
• Defense Secretary Pete Hegseth will deliver his first testimony to Congress since his confirmation. He will be grilled by Democrats over the Trump administration’s strategy in California and the 'Signal scandal'. 
• A second day of US-China trade talks got underway in London today, with the Trump administration eyeing a 'handshake' deal on rare earth and high-tech supply chains.
• Senate Majority Leader John Thune (R-SD) said the CBO's extended X-date projection gives the 'One Big Beautiful Bill', "more runway". The Senate Finance Committee, which oversees taxes and Medicaid, is aiming to release its portion of the reconciliation text by Friday.
• Interest groups and foreign nations are lobbying for the so-called 'revenge tax' to be removed from the reconciliation package.
• A Thursday floor vote is expected on the White House’s USD$9.4 billion rescissions package.
• A sixth round of US-Iran nuclear talks is expected to take place on June 15, with the White House under pressure from Iran hawks in Congress to back out of a deal.
• Poll of the Day: CEO confidence dropped sharply in H1. 

Please find the full article attached below: US DAILY BRIEF