US: MNI POLITICAL RISK - Trump Hosts Rutte Amid NATO Uncertainty

Mar-13 13:30

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  • President Donald Trump will host NATO Secretary General Mark Rutte at the White House today. The pair don't have a joint press conference scheduled, but reporters will be present at the top for a Q&A at around 12:20 ET 16:20 GMT.
  • Trump announced a 200% tariff on EU alcoholic beverages in response to the bloc's countermeasures against his 25% global metals tariff.
  • Commerce Secretary Howard Lutnick and USTR Jamieson Greer will meet today with Canadian officials angling for an offramp to this week’s trade war escalation.
  • The chance of a government shutdown ticked up after Senate Minority Leader Chuck Schumer (D-NY) said Democrat senators should withhold their votes from the House-passed full-year funding measure.
  • Bipartisan critics of the Senate Republican plan to use a “current policy baseline” to extend the 2017 TJCA warn the move could break the Senate and balloon the national debt.
  • The White House director of legislative affairs said the White House is open to raising the debt limit outside of budget reconciliation.
  • The Senate Banking Committee will mark up its first cryptocurrency bill.
  • Trump is set to nominate Michelle Bowman as Wall Street's 'top cop'.
  • Secretary of State Marco Rubio is in for a frosty reception at a G7 meeting in Canada today.
  • Senate Republicans expressed doubt that Russia will back the Ukraine ceasefire framework.
  • Poll of the Day: 48% of Americans think the economy is getting worse.

Full Article: US DAILY BRIEF

Historical bullets

MNI: CANADIAN DEC BUILDING PERMITS +11.0% MOM

Feb-11 13:30
  • MNI: CANADIAN DEC BUILDING PERMITS +11.0% MOM
  • CANADA RESIDENTIAL BUILDING PERMITS +21.2%; NON-RESIDENTIAL -5.9%

EQUITIES: Fresh record highs for European Indices

Feb-11 13:28
  • A fresh record high in Cash SX5E, seems to be helping the futures (VGH5) through the overnight high, and a new record high here too.
  • VGH5 is breaking the MNI Tech projection that was at 5381.13, and most Investors will now be watching for any potential test towards the Psychological 5400.00.
  • Stoxx600 is now also edging to a new record, with a 546.68 high.

US: MNI POLITICAL RISK - Trump Adjusts Tariff Rate For Metals

Feb-11 13:21
  • US President Donald Trump adjusted tariffs on all steel and aluminium products entering the United States to a flat 25%. The new tariff rate will go into effect at midnight tonight.
  • China may look to target US tech companies to leverage a position ahead of expected negotiations with the US over trade policy.
  • Trump indicated he may provide Australia with a tariff exemption.
  • Japanese Prime Minister Shigeru Ishiba is confident an FDI pivot from China to the US can help Tokyo avoid tariffs.
  • European Commission President Ursula von der Leyen said the action would trigger "firm and proportionate" countermeasures.
  • House Speaker Mike Johnson (R-LA) is expected to outline his budget resolution at a Republican Conference meeting this morning.
  • Congressional Republicans are willing to turn Elon Musk's DOGE spending cuts into legislation.
  • Analysts are divided over whether Democrats are likely to use a government shutdown as leverage to oppose Trump’s agenda.
  • The Senate is expected to confirm Tulsi Gabbard as Director of National Intelligence as soon as today.
  • Federal Reserve Chair Jerome Powell will appear before the Senate Banking Committee at 10:00 ET 15:00 GMT.
  • President Trump will meet with King Abdullah of Jordan at the White House today amid hardline rhetoric from Trump over the future governance and reconstruction of the Gaza Strip.
  • Poll of the Day: Republican voters believe GOP lawmakers should push back against Trump when they disagree. 

Full article: US DAILY BRIEF

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