15 May 2024Star witness Michael Cohen testifies in Trump hush money trialThe ex-lawyer of former president Donald Trump took the stand in New York this week, telling jurors that Trump reimbursed him for his role in silencing allegations of an affair with adult film actress Stormy Daniels in the lead-up to the 2016 presidential
election. Michael Cohen, a one-time Trump loyalist, claimed that Trump directed him to make a US$130,000 hush money payment to Daniels in October of 2016, which he did out of his own pocket. He then alleged a deal was arranged to reimburse him through falsified checks, with the former president’s approval. If the payments were done to help Trump win the presidency, then they could be an illegal campaign contribution, which is the felony charge
brought by the Manhattan District Attorney. Trump’s legal team denied all the allegations and attempted to paint Cohen as an unreliable witness who has sought to profit from his feud with the former president. Despite Cohen’s testimony, Trump continues to lead President Biden in key battleground states, including Michigan, Nevada, Georgia, Arizona and Pennsylvania according to polling this
week from The New York Times, Siena College and The Philadelphia Inquirer. Speaking to reporters outside the court on Tuesday, Trump said: “They’ve kept me here for three and a half to four weeks instead of campaigning, and yet we still have the best numbers.”
NEWS WRAPRepublicans support Trump in court Trump trial support | Speaker Mike Johnson and other Republicans including Vivek Ramaswamy, Doug Burgum and Byron Donalds, appeared at Trump’s Manhattan trial in a show of support for the former president. With the former president facing a gag order that limits his comments on the case, the Republican visitors to New York have
unanimously criticised the merits of the trial. READ MORE HERE
MTG’s MTV | The US House of Representatives voted to table a motion by Republican Congresswoman Marjorie Taylor Greene to vacate the House speakership, ending her move to remove Republican Speaker Mike Johnson. Just 11 Republican lawmakers voted against blocking Greene’s motion. READ MORE HERE
Brain worm | Third-party 2024 presidential candidate Robert F Kennedy Jr revealed that he experienced health issues from a “worm that got into my brain and ate a portion of it and then died.” The health of presidential candidates this year has been a key voter concern. READ MORE HERE
Israel deal proceeds | The Biden administration signalled its intention to move forward with over US$1 billion in arms deals with Israel. The administration last week paused shipment of certain bombs to Israel as it prepares for a major ground operation in Rafah. READ MORE HERE
Billion-dollar deal | House Democrats are probing reports that Trump promised oil executives that he would reverse environmental policies in exchange for US$1 billion in campaign donations. Trump allegedly offered the deal at a Mar-a-Lago dinner in April. READ MORE HERE
Climate transition heating up: The race for the clean energy transition in the Indo-PacificThe Albanese and Biden governments are united in positing that climate change poses an existential threat and are modernising their alliance relationship to tackle it. Major efforts are underway to boost renewable technology innovation, harness critical minerals and bolster domestic manufacturing to accelerate the clean energy transition. Yet significant hurdles remain to realising bilateral climate ambitions. Australia and the United States must navigate the simultaneous challenges of decarbonising, building their domestic industrial bases,
supporting the energy transition across their region, and competing with China for new sectors. Are Australia and the United States competing when it comes to the clean energy transition? What has Australia-US climate cooperation promised and can it deliver? How can Australia and the United States balance their international climate efforts with boosts to manufacturing at home? To answer these questions, please join us for a live event with Australia’s Ambassador for Climate Change Kristin Tilley, USSC Women in the Alliance Visiting Fellow Jane Nakano, and USSC Non-Resident Senior Fellow Meg McDonald in conversation with USSC Director of Economic Security Hayley Channer.
This event is hosted by the United States Studies Centre’s Women in the Alliance initiative. WHEN
21 May 2024. 6.00pm-7.30pm AEST
WHERE
Level 5 Function Room, The Michael Spence Building (F23) at the Corner of Eastern Avenue and City Road, The University of Sydney COST
Free but registration is essential
Did you USSC?COMMENTARY | If the US election were held today, Trump would win
USSC Non-Resident Senior Fellow Bruce Wolpe writes in The Sydney Morning Herald that, like the last New York Times-Siena poll in November 2023, “this again rocked Washington’s political class, feeding uncertainty and fear among Democrats that Biden will lose, notwithstanding Trump’s sensational trial in Manhattan and his descent into even more wild and extreme behaviour.” READ MORE HERE JOURNAL ARTICLE | A Free and Open Indo-Pacific in 2040? Democracy, Autocracy and what is in between
USSC Non-Resident Senior Fellow Professor Benjamin Reilly writes in an article in the Journal of Indo-Pacific Affairs that “it is pertinent to ask whether a strengthening in democratic governance and a deepening of ties among Indo-Pacific democracies is feasible in the years to come.” READ MORE HERE
PODCAST | USSC Briefing Room now on YouTube Shorts
Episodes of the USSC Briefing Room are now featured on YouTube Shorts. Tune in to hear USSC experts discuss what you need to know and what’s beneath the surface of the news — from the latest developments in the US presidential race to the challenges facing the AUKUS agreement. LISTEN HERE
The US Inflation Reduction Act provides a Clean Hydrogen Tax Credit more than double the Australian equivalentBy Georgia Edmonstone, Research Associate, Economic Security Following in the footsteps of the United States’ Inflation Reduction Act, the European Union’s Net-Zero Industry Act and a broader global trend towards industrial policy, Australian Prime Minister Anthony Albanese announced a A$22.7 billion Future
Made in Australia package in the 2024-25 budget, aimed at investing in Australia’s domestic industries over the next decade. How does this compare to US industrial policy? The Inflation Reduction Act is a US$370 billion (A$557 billion) investment in the US energy transition. Like the Future Made in Australia Act, it contains grants, loans and tax incentives to encourage the domestic production of renewable energy technologies. The Inflation Reduction Act (IRA) provides a Clean Hydrogen Tax Credit for up to US$3/kg (A$4.50/kg) of hydrogen produced,
more than double Australia’s tax credit (A$2/kg). US critical minerals refiners can access the Advanced Manufacturing Tax Credit which subsidises 10 per cent of the costs of refining, comparable to Australia. Solar and battery manufacturers in the United States are also eligible for the Advanced Manufacturing tax credit, or the Advanced Energy Project Credit. The IRA budgets US$10 billion (A$15 billion) for the Advanced Energy Project Credit and US$30.6 billion (A$46.3 billion) for the Advanced Manufacturing credit. By comparison, Future Made in Australia offers A$836 million for domestic solar manufacturing and A$549 million for battery manufacturing. Through the Bipartisan Infrastructure Law, the US Office of Clean Energy Demonstrations is investing US$25 billion in R&D and commercialisation of net-zero technologies. Australia's ARENA got A$3.2 billion for research and commercialisation of renewable energy technologies. Both countries are focusing on R&D into hydrogen, green manufacturing and batteries but the United States also has R&D programs on carbon capture and nuclear technologies. Australia’s Future Made in Australia Act has a narrower technological focus than the IRA, prioritising certain sectors: critical minerals, hydrogen, green metals, solar and
batteries.
|