MNI POLITICAL RISK - White House Teases Trump Announcement

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Executive summary:

• President Donald Trump will make an “announcement” at the White House at 16:30 ET 21:30 BST. The subject is unclear, but it could be related to new measures against Russia or open Fed/BLS positions.
• Swiss President Karin Keller-Sutter will meet Secretary of State Marco Rubio today to present an “attractive offer” to avert a 39% tariff rate. The absence of meetings with Trump or senior trade officials suggests Switzerland may struggle to secure a deal.   
• The US trade deficit shrank in June to its lowest level in nearly two years.
• Within the next week, Trump will announce pharmaceutical tariffs that could rise to 250%. Trump is also expected to announce new tariffs on semiconductors.  
• Trump has whittled down potential Fed nominees to a shortlist of four.
• Trump appears to be inching closer to approving a 90-day tariff and export control pause with China.
• Senior Canadian ministers met Mexican President Claudia Sheinbaum yesterday to bolster ties ahead of next year’s USMCA review.
• Brazilian Finance Minister Fernando Haddad will speak with Treasury Secretary Scott Bessent next week.
• Trump is preparing an executive order to punish banks that discriminate against conservatives.
• Trump negotiator Steve Witkoff met Russian President Vladimir Putin ahead of Trump's deadline for reaching a ceasefire agreement with Ukraine. 
• Trump said a decision to occupy Gaza is “pretty much up to Israel”.
• Poll of the Day: Friday’s disappointing jobs report appears to be resonating with Americans. 

Please find the full article attached below: US DAILY BRIEF