Good afternoon! It is a quiet week on Capitol Hill as both the House and Senate are in recess. President Trump ordered a high-profile naval operation in the Strait of Hormuz and sent the United States Trade Representative (USTR) to Paris for negotiations with European Union (EU) counterparts. Diplomatic groundwork for President Trump’s May 14 summit with President Xi Jinping has begun.
WHITE HOUSE
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President Trump’s “Project Freedom” began this morning. The U.S. Navy will provide commercial ships with information on the safest maritime routes in the Strait of Hormuz to avoid mines laid by the Iranian military. U.S. Central Command (CENTCOM) confirmed the Navy will rely on transmitting information but stay nearby in case they need to prevent Iran’s military from attacking commercial ships.
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In response, Iran declared the ceasefire broken and launched its first major attacks since the ceasefire began on April 8. Iran fired four cruise missiles at the United Arab Emirates (UAE), targeting an Abu Dhabi National Oil Company (ADNOC) tanker and a South Korean bulk carrier. CENTCOM reported sinking six Iranian small boats in response.
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Treasury Secretary Scott Bessent on Monday urged China to use its diplomatic leverage with Iran (noting Beijing buys 90% of Iranian oil) to reopen the Strait of Hormuz, calling it a key topic for President Trump’s May 14 summit with Chinese President Xi Jinping.
- United States Trade Representative (USTR) Jamieson Greer will meet European Union (EU) Trade Commissioner Maroš Šefčovič in Paris on Tuesday, ahead of Wednesday’s Group of Seven (G7) trade ministers meeting. Last week, President Trump threatened to hike tariffs on EU cars and trucks from 15% to 25% over delays in implementing the July Turnberry Agreement trade deal.
CONGRESS
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Both chambers are in recess this week, with lawmakers due back in Washington on May 11.
- Upon their return, the Senate is expected to consider several executive branch nominations, including Dan Edwards to be Assistant Secretary for Aviation and International Affairs and Kevin Warsh to be Chairman of the Federal Reserve. If confirmed, Warsh will replace current chair Jerome Powell, whose term ends May 15.
