July 7, 2025 • 15 mins
On today's podcast:
1) More than 80 people die in flash floods across Texas as search and rescue efforts continue. A catastrophic flood in Kerrville, Texas, caused by torrential rains, has resulted in at least 82 deaths and many missing, including children, with the area remaining at risk of further inundation. Politicians are questioning whether federal, state, and local officials were adequately prepared, with some raising concerns about the accuracy of weather forecasts and potential staffing cuts at the National Weather Service.
2) President Trump shifts his economic focus from taxes to trade as his tariff deadline looms. The US is preparing to send tariff letters to dozens of countries in the coming days, with the Trump administration’s 90-day pause on higher duties set to expire on Wednesday. Trump said in a separate post that the letters would start being delivered from noon Monday, Washington time.
3) Tesla shares tumble after Elon Musk makes plans for a new political party. President Trump criticized Elon Musk's bid to start a new political party, calling it "ridiculous" and saying that third parties have never worked in the US. Musk announced the formation of a new "America Party" on Saturday, a day after Trump signed a tax-cut and spending bill into law that Musk had denounced.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Can we begin with the devastating flooding over the weekend
in Kerrville, Texas. At least eighty two people are dead
dozens more missing following flash floods in the region. Officials
are warning the casualty count we'll climb with more rain
in the forecast. Bloomberg meteorologist Craig Allen joins us with
the latest. Good morning, Craig, Good morning, Nathan.
Speaker 4 (00:35):
You know, this is a situation here that it really
takes time to get a grasp of just how dire
the situation really is. With this extreme flooding. You've had
four months worth of rain in just about four to
five hours worth of time when it first began back
on July fourth, and now you're dealing with additional showers
(00:58):
and thunderstorms. Thing as long lasting. Nothing is widespread, but
anything at this point will exacerbate the problems that they
already have down there. To think about a wall of
water two stories high coming in at you, with these
rivers picking up all that rainfall in such a short
amount of time. It's hard to really imagine the situation
(01:23):
that is going on down there. The National Weather Service
continues with floodwatches that are in effect, and these floodwatches
include cities like San Angelo and round Rock and Colleen, Texas,
New bron Fells, San Antonio, this whole area and will
continue under a flash flood watch at least through this
afternoon and right on in two Monday evening.
Speaker 2 (01:45):
All right, Bloomberg meteorologist Craig Allen, Craig, thank you. The
death toll includes twenty seven people at a girls' summer
camp in Kirk County, where ten children and a counselor
a camp Mystic remain un accounted for. Texas Governor Greg
Abbott discussed search and rescue efforts Sunday afternoon.
Speaker 5 (02:02):
It was nothing short of horrific to see what those
young children went through, and we will remain one hundred
percent dedicated searching for every single one of the children.
Speaker 2 (02:15):
Texas Governor Greg Abbott's's search and rescue efforts are expanding
beyond Kerrville and Karen.
Speaker 3 (02:20):
President Trump has signed a disaster declaration for Kerr County.
He says he's working to provide more support for Texas.
Speaker 6 (02:27):
We're working very close with representatives from Texas, and it's
a horrible thing that took place, absolutely.
Speaker 3 (02:34):
Horrible, and the President adds he will probably visit the
affected areas later this week. Turning into politics, the focus
in Washington is shifting from taxes to tariff's. Trump administration
is preparing to send tariff letters to dozens of countries,
with the administration's ninety day tariff pause set to expire
on Wednesday. Speaking alongside Commerce Secretary Howard Ludnik, President Trump
(02:55):
said most nations will have a deal or a letter
by then.
Speaker 6 (02:59):
They're going to be Tariffsaris are going to be the tariff.
Speaker 1 (03:02):
I think we have.
Speaker 6 (03:03):
Most countries done by July ninth. Yeall either a letter
or a deal, but.
Speaker 7 (03:10):
They go into effect on August first.
Speaker 4 (03:12):
Tariff's go into.
Speaker 6 (03:13):
Effect August first, but the President is setting.
Speaker 8 (03:15):
The rates and the deals right now.
Speaker 3 (03:18):
Despite those comments from the President and the Commerce Secretary,
Treasury Secretary Scott bess Into signaling that some countries without
deals could negotiate before August first.
Speaker 9 (03:28):
Nathan.
Speaker 2 (03:28):
President Trump also announced on social media he'll and pose
an additional ten percent tariff on any country aligning itself
with what he called the anti American policies of bricks.
The Group of Nations, which includes Brazil, Russia, India, China,
and South Africa, held a summit over the weekend and
condemned US and Israeli attacks on Iran.
Speaker 3 (03:48):
Now today, Karen Israel's has a negotiating team in Katar,
with Prime Minister Benjamin Netanyahoo visiting the White House later today,
and President Trump says he is optimistic about a possible
ceasefire in Gaza.
Speaker 6 (03:59):
I think there's a good chance we have a deal
with Hamas during the week, during the coming week pertaining
to quite a few.
Speaker 3 (04:06):
Of the US And that was the President speaking to
reporters in Morristown, New Jersey.
Speaker 2 (04:11):
Also happening overseas, Nathan oil prices fell after OPEC Plus
agreed to a bigger than expected production increase from next month.
The group increased supply by five hundred and forty eight
thousand barrels a day, citing summer demand as reason for
optimism that the extra barrels could be absorbed by the market.
Checking the price of oil now and IMAX screwed is
down a tenth of up percent at sixty six dollars
(04:33):
ninety two cents a barrel, while Brent is up four
tenths of up percent at sixty eight dollars fifty nine cents.
Speaker 3 (04:39):
Let's turn us some company news now, Karen. We're watching
Tesla shares this morning, and they are tumbling down nearly
seven percent in the pre market. That's after Tesla's CEO,
Elon muskinounst he's forming a third political party, he's calling
the America Party. That move comes after President Trump signed
his tax bill into law, and the President went on
(04:59):
to once again blast his former political ally.
Speaker 2 (05:03):
And I think.
Speaker 6 (05:03):
Starting a third party just adds to confusion.
Speaker 1 (05:06):
It really seems to have.
Speaker 6 (05:07):
Been developed for two parties. Third parties have never worked,
so he can have fun with it, but I think
it's ridiculous.
Speaker 3 (05:14):
President Trump says, it's quote sad to watch Elon Muskow
and his words completely off the rails.
Speaker 2 (05:20):
Meanwhile, Nathan, President Trump says the US will discuss a
TikTok agreement, which Shina today or tomorrow. He says, Washington
and Beijing quote pretty much have a deal. The Information
is reporting that TikTok is building a new version of
its app for American users. Which it plans to launch
in September.
Speaker 3 (05:37):
And Wall Street returns after a long holiday weekend with
the stocks at a record Let's look ahead now with
Bloomberg's Charlie Pellett.
Speaker 9 (05:44):
This week's focus is on the tariff deadline and FED minutes,
along with a smattering of earnings reports. Sylvia and Joblonski
is chief investment officer at Defiance ETFs.
Speaker 8 (05:55):
Earnings are expected to be five percent or more.
Speaker 1 (05:57):
My take is that AI and some of that tech
is going to make that number look a little bit better,
and then you can get a rally for that.
Speaker 8 (06:04):
You know, tariffs not as bad as we thought.
Speaker 9 (06:06):
Among the company's schedule to report earnings this week Delta Airlines,
ConAgra Brands, and the newly public Circle Internet Group. In
New York, Charlie Bloomberg Radio.
Speaker 2 (06:21):
Time Now for a look at some of the other
stories making news in New York and.
Speaker 9 (06:24):
Around the world.
Speaker 2 (06:25):
And for that we're joined by Bloomberg's John Tucker.
Speaker 9 (06:27):
John, Good morning, Yeah, Good morning, carrydy.
Speaker 10 (06:29):
Israel's military launched air strikes early today targeting ports and
facilities held by Yemen's Hooty rebels. The attacks came after
an attack Sunday, targeting a Liberian flying ship of the
Red Sea that caught fire and took on water. A
three car accident led to an explosion at a Utah
Strip mall Saturday night. Over's sixty firefighters were on scene
(06:56):
with a powerful explosion destroyed one business, alert workers in
the adjacent and businesses told customers to evacuate. Three people
were taken to the hospital. There have been more meazels
cases in the US this year than any other since
the disease was declared eliminated a quarter century ago. According
to data from Johns Hopkins, there have been at least
twelve hundred confirmed cases of measles reported in the US.
(07:19):
In twenty twenty five. The sanitation workers strike in Philadelphia,
leaving piles of garbage on the streets of the city
and the brutal July heat talks stalled once again. City
sanitation worker Abdul Kadar has a message for Mayor Cherrell Parker.
Speaker 8 (07:34):
Schero just needs to come to the table and give
us a better contracts.
Speaker 10 (07:37):
Simple as that the sticking point remains, wage increases and benefits.
A series of shark sightings for its officials to repeatedly
close parts of Rockaway Beach over the long fourth of
July holiday weekend. State agencies have twenty eight camera equipped
drones to search for sharks. State and city protocol dictates
when a shark sighting is confirmed, swimming cannot resume until
(08:00):
at least an hour later. Global News twenty four hours
a day and whenever you want it with Bloomberg News.
Speaker 2 (08:05):
Now.
Speaker 10 (08:05):
I'm John Tucker, and this is Bloomberg. Karen.
Speaker 2 (08:07):
All right, John Tucker, thank you time now for the
Bloomberg Sports Update, brought to you by Flushing Bank. Here's
John stash Hour, John, Good.
Speaker 9 (08:18):
Morning, I Morning Care.
Speaker 7 (08:19):
In the end of the Subway series at Cityfield, Yankee
Hill runs by Austin Wells and Aaron Jeege. They led
five nothing, Mets cut it to five to four. It
was six four seventh in the Mets at Francisco the
door at first base with nobody out and Juan Soto
at the plate, and one what's on the left field.
Speaker 3 (08:36):
And it's a brilliant shoe strain.
Speaker 10 (08:46):
Show where the Franks HASTI shoe Street?
Speaker 8 (08:48):
Where is Donald first?
Speaker 7 (08:51):
On sn why Aaron Boone called it the Yankees play
of the Year. Yanks won sixty four to and their
six game losing streak. The Mets still won the series.
Manager is Carlos Mendoza.
Speaker 11 (09:01):
We just came up short today, but Willy, were guys
coming off the bench, you know, Mauricio Baty ready to go,
Guys coming from the bullpen keeping it, you know, somehow
close there and giving the offense a chance.
Speaker 9 (09:16):
Yeah.
Speaker 11 (09:17):
Overall, not only today, but the whole series.
Speaker 7 (09:20):
Part of the guys in DC red Sox beat the
national six to fourth, swept the series, and the last
place Nationals responded by firing longtime manager David Martinez and
GM Mike Rizzo. Together they won the World Series in
twenty nineteen, but they struggled ever since. Pictures and reserves
named for next week's All Star Game Max Streed and
Jazz Chisholm from the Yankees, Edwin Diaz and Pee Alonso
(09:41):
from the Mets. Alonzo will not be in the home
run derby. He's a two time champion in Houston. The
final of the Gold Cup soccer, the US and Mexico
tied at one seventy seventh minute, Mexico scored on a
controversial header. They originally called it offside, changed on video review.
Mexico won two to one too it. Wimbledon began with
the end of the fourth round and matches today for
(10:02):
a top seedyonic sinner seven times Chap Novak, Djokovic and
Ben Shelton. He and Taylor Fritz. Last Americans left for
the men to remain on the women's side, Amanda Issamoba
and Emma Navarro, who also plays today. John Stashey, We're
Bloomberg Sports Karen Nathan.
Speaker 1 (10:19):
Coast to Coast on Bloomberg Radio, nationwide on Sirius Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 3 (10:29):
Good morning, I'm Nathan Hager. Investors are heading into a
new trading week with a little more trade uncertainty. This morning,
President Trump is warning countries that are aligned with the
Bricks Nations they could face an additional ten percent tariff.
Other nations, he says, should be getting notice of their
new rates this week.
Speaker 6 (10:45):
It could be maybe as many as fifteen or so.
Speaker 7 (10:48):
And they'll be going out on.
Speaker 6 (10:49):
Monday, and some we'll go out on Tuesday and Wednesday,
and I'll and we've we've made deals also, so we're
going to have a combination of letters and some deals
have been.
Speaker 3 (10:59):
Made, as the President, speaking to reporters in Morristown, New
Jersey yesterday for more were joined by Roslind Mathis and
Bloomberg's news director for Europe, the Middle East and Africa
and Roz I think a lot of investors were braced
for the idea that we'd see a combination of deals
and new tariffs starting to be announced this week. But
where did this new threat of an extra ten percent
(11:19):
on bricks aligned nations come from?
Speaker 8 (11:22):
Good morning, Good morning.
Speaker 12 (11:23):
Well, obviously that's also the extra element in a week
that does feel quite uncertain. I mean, Donald Trump had
said these letters we're going to go out days ago.
Speaker 8 (11:31):
Now he says they're going to start to go out, and.
Speaker 12 (11:33):
They may come out over a period of days. And
of course nominating August I allows further room for negotiation
in all of that. So it does feel as though
we're not entirely sure what we're going to be looking at,
perhaps even in a week from now. And added to
that the element of saying what he might put ten
percent tariffs on what he calls the anti americanness of bricks, which,
(11:57):
of course this grouping which has been led by China, Brazil, India,
Russia and South Africa, and that group has been expanding
rapidly in recent years in the emerging market space in particular,
many many new members and a growing sense of it
being a bit of an alternate power block. Although unlikely
to supplant the US dollar anytime soon, and it's getting
(12:20):
Donald Trump's attention for now, it does seem to be
more of a poke than anything else. Because BRICKS has
been meeting over the weekend in Brazil. You can see
from the BRICKS members desired to not really respond to
it and maybe see it as a bit of a
needling attempt more than anything else. But it does add
that extra element of uncertainty. Is he serious about this
(12:41):
or was he just raising it in the minute because
Bricks happens to be meeting.
Speaker 3 (12:47):
The word that really stood out from that announcement on
social media was anti American policies of the BRICKS nations.
Do we know what the president means by anti American policies?
What he's thinking about there?
Speaker 12 (12:58):
Well, that's the other thing we don't know. I mean,
he has criticized BRICKS before. He used to be fairly
dismissive of it. He's become a bit more attuned to
it in recent years. Again this sense that perhaps bricks
nations are pushing for the use of alternate currencies in
global trade, so things like the yuan and what not,
and so that's caught his attention for the challenge potentially
(13:22):
to the global dominance of the US dollars. So maybe
he means countries that do trade in currencies outside the
US dollar, for example, as being an example of what
he would say is anti American activities.
Speaker 8 (13:34):
But it's very unclear as you say, what he means
by that. It could be a very broad church.
Speaker 12 (13:38):
And so that's why you can see bricks nations perhaps
wisely choosing the course of not really responding so far
in significant detail.
Speaker 3 (13:46):
Of course, one of the bricks nations is the Eye India.
There had been some talk leading up to this that
the US and India may be close to a deal
that could be announced this week. Does this just sort
of upend things far as that goes now.
Speaker 12 (14:01):
You'd imagine that the Indian government be probably choosing to
let this one fly by for now. As you say,
there's been a lot of chatter that India and the
US are getting close to an understanding.
Speaker 8 (14:11):
Again, these are frameworks.
Speaker 12 (14:13):
These aren't full board trade deals, the kinds that take
years to come together. These are framework understandings at a
top level, and it's an India's interests obviously to also
get some kind of arrangement by the deadline and the
senses they've been getting pretty close. Not there yet, but
for days they're inching forward, and you can imagine for
(14:33):
India the incentive is to get over the line, so
they'll probably let the bricks comment fly by for now.
Speaker 2 (14:39):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (14:46):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (14:52):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
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Speaker 3 (15:06):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 2 (15:13):
To subscribe to Bloomberg News Now. It's the latest news,
whenever you want it in five minutes or less. Search
Bloomberg News Now on your favorite podcast platform to stay
informed all day long. I'm Karen Moscow.
Speaker 3 (15:25):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day.
Speaker 2 (15:31):
Ray
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Can we begin with the devastating flooding over the weekend
in Kerrville, Texas. At least eighty two people are dead
dozens more missing following flash floods in the region. Officials
are warning the casualty count we'll climb with more rain
in the forecast. Bloomberg meteorologist Craig Allen joins us with
the latest. Good morning, Craig, Good morning, Nathan.
Speaker 4 (00:35):
You know, this is a situation here that it really
takes time to get a grasp of just how dire
the situation really is. With this extreme flooding. You've had
four months worth of rain in just about four to
five hours worth of time when it first began back
on July fourth, and now you're dealing with additional showers
(00:58):
and thunderstorms. Thing as long lasting. Nothing is widespread, but
anything at this point will exacerbate the problems that they
already have down there. To think about a wall of
water two stories high coming in at you, with these
rivers picking up all that rainfall in such a short
amount of time. It's hard to really imagine the situation
(01:23):
that is going on down there. The National Weather Service
continues with floodwatches that are in effect, and these floodwatches
include cities like San Angelo and round Rock and Colleen, Texas,
New bron Fells, San Antonio, this whole area and will
continue under a flash flood watch at least through this
afternoon and right on in two Monday evening.
Speaker 2 (01:45):
All right, Bloomberg meteorologist Craig Allen, Craig, thank you. The
death toll includes twenty seven people at a girls' summer
camp in Kirk County, where ten children and a counselor
a camp Mystic remain un accounted for. Texas Governor Greg
Abbott discussed search and rescue efforts Sunday afternoon.
Speaker 5 (02:02):
It was nothing short of horrific to see what those
young children went through, and we will remain one hundred
percent dedicated searching for every single one of the children.
Speaker 2 (02:15):
Texas Governor Greg Abbott's's search and rescue efforts are expanding
beyond Kerrville and Karen.
Speaker 3 (02:20):
President Trump has signed a disaster declaration for Kerr County.
He says he's working to provide more support for Texas.
Speaker 6 (02:27):
We're working very close with representatives from Texas, and it's
a horrible thing that took place, absolutely.
Speaker 3 (02:34):
Horrible, and the President adds he will probably visit the
affected areas later this week. Turning into politics, the focus
in Washington is shifting from taxes to tariff's. Trump administration
is preparing to send tariff letters to dozens of countries,
with the administration's ninety day tariff pause set to expire
on Wednesday. Speaking alongside Commerce Secretary Howard Ludnik, President Trump
(02:55):
said most nations will have a deal or a letter
by then.
Speaker 6 (02:59):
They're going to be Tariffsaris are going to be the tariff.
Speaker 1 (03:02):
I think we have.
Speaker 6 (03:03):
Most countries done by July ninth. Yeall either a letter
or a deal, but.
Speaker 7 (03:10):
They go into effect on August first.
Speaker 4 (03:12):
Tariff's go into.
Speaker 6 (03:13):
Effect August first, but the President is setting.
Speaker 8 (03:15):
The rates and the deals right now.
Speaker 3 (03:18):
Despite those comments from the President and the Commerce Secretary,
Treasury Secretary Scott bess Into signaling that some countries without
deals could negotiate before August first.
Speaker 9 (03:28):
Nathan.
Speaker 2 (03:28):
President Trump also announced on social media he'll and pose
an additional ten percent tariff on any country aligning itself
with what he called the anti American policies of bricks.
The Group of Nations, which includes Brazil, Russia, India, China,
and South Africa, held a summit over the weekend and
condemned US and Israeli attacks on Iran.
Speaker 3 (03:48):
Now today, Karen Israel's has a negotiating team in Katar,
with Prime Minister Benjamin Netanyahoo visiting the White House later today,
and President Trump says he is optimistic about a possible
ceasefire in Gaza.
Speaker 6 (03:59):
I think there's a good chance we have a deal
with Hamas during the week, during the coming week pertaining
to quite a few.
Speaker 3 (04:06):
Of the US And that was the President speaking to
reporters in Morristown, New Jersey.
Speaker 2 (04:11):
Also happening overseas, Nathan oil prices fell after OPEC Plus
agreed to a bigger than expected production increase from next month.
The group increased supply by five hundred and forty eight
thousand barrels a day, citing summer demand as reason for
optimism that the extra barrels could be absorbed by the market.
Checking the price of oil now and IMAX screwed is
down a tenth of up percent at sixty six dollars
(04:33):
ninety two cents a barrel, while Brent is up four
tenths of up percent at sixty eight dollars fifty nine cents.
Speaker 3 (04:39):
Let's turn us some company news now, Karen. We're watching
Tesla shares this morning, and they are tumbling down nearly
seven percent in the pre market. That's after Tesla's CEO,
Elon muskinounst he's forming a third political party, he's calling
the America Party. That move comes after President Trump signed
his tax bill into law, and the President went on
(04:59):
to once again blast his former political ally.
Speaker 2 (05:03):
And I think.
Speaker 6 (05:03):
Starting a third party just adds to confusion.
Speaker 1 (05:06):
It really seems to have.
Speaker 6 (05:07):
Been developed for two parties. Third parties have never worked,
so he can have fun with it, but I think
it's ridiculous.
Speaker 3 (05:14):
President Trump says, it's quote sad to watch Elon Muskow
and his words completely off the rails.
Speaker 2 (05:20):
Meanwhile, Nathan, President Trump says the US will discuss a
TikTok agreement, which Shina today or tomorrow. He says, Washington
and Beijing quote pretty much have a deal. The Information
is reporting that TikTok is building a new version of
its app for American users. Which it plans to launch
in September.
Speaker 3 (05:37):
And Wall Street returns after a long holiday weekend with
the stocks at a record Let's look ahead now with
Bloomberg's Charlie Pellett.
Speaker 9 (05:44):
This week's focus is on the tariff deadline and FED minutes,
along with a smattering of earnings reports. Sylvia and Joblonski
is chief investment officer at Defiance ETFs.
Speaker 8 (05:55):
Earnings are expected to be five percent or more.
Speaker 1 (05:57):
My take is that AI and some of that tech
is going to make that number look a little bit better,
and then you can get a rally for that.
Speaker 8 (06:04):
You know, tariffs not as bad as we thought.
Speaker 9 (06:06):
Among the company's schedule to report earnings this week Delta Airlines,
ConAgra Brands, and the newly public Circle Internet Group. In
New York, Charlie Bloomberg Radio.
Speaker 2 (06:21):
Time Now for a look at some of the other
stories making news in New York and.
Speaker 9 (06:24):
Around the world.
Speaker 2 (06:25):
And for that we're joined by Bloomberg's John Tucker.
Speaker 9 (06:27):
John, Good morning, Yeah, Good morning, carrydy.
Speaker 10 (06:29):
Israel's military launched air strikes early today targeting ports and
facilities held by Yemen's Hooty rebels. The attacks came after
an attack Sunday, targeting a Liberian flying ship of the
Red Sea that caught fire and took on water. A
three car accident led to an explosion at a Utah
Strip mall Saturday night. Over's sixty firefighters were on scene
(06:56):
with a powerful explosion destroyed one business, alert workers in
the adjacent and businesses told customers to evacuate. Three people
were taken to the hospital. There have been more meazels
cases in the US this year than any other since
the disease was declared eliminated a quarter century ago. According
to data from Johns Hopkins, there have been at least
twelve hundred confirmed cases of measles reported in the US.
(07:19):
In twenty twenty five. The sanitation workers strike in Philadelphia,
leaving piles of garbage on the streets of the city
and the brutal July heat talks stalled once again. City
sanitation worker Abdul Kadar has a message for Mayor Cherrell Parker.
Speaker 8 (07:34):
Schero just needs to come to the table and give
us a better contracts.
Speaker 10 (07:37):
Simple as that the sticking point remains, wage increases and benefits.
A series of shark sightings for its officials to repeatedly
close parts of Rockaway Beach over the long fourth of
July holiday weekend. State agencies have twenty eight camera equipped
drones to search for sharks. State and city protocol dictates
when a shark sighting is confirmed, swimming cannot resume until
(08:00):
at least an hour later. Global News twenty four hours
a day and whenever you want it with Bloomberg News.
Speaker 2 (08:05):
Now.
Speaker 10 (08:05):
I'm John Tucker, and this is Bloomberg. Karen.
Speaker 2 (08:07):
All right, John Tucker, thank you time now for the
Bloomberg Sports Update, brought to you by Flushing Bank. Here's
John stash Hour, John, Good.
Speaker 9 (08:18):
Morning, I Morning Care.
Speaker 7 (08:19):
In the end of the Subway series at Cityfield, Yankee
Hill runs by Austin Wells and Aaron Jeege. They led
five nothing, Mets cut it to five to four. It
was six four seventh in the Mets at Francisco the
door at first base with nobody out and Juan Soto
at the plate, and one what's on the left field.
Speaker 3 (08:36):
And it's a brilliant shoe strain.
Speaker 10 (08:46):
Show where the Franks HASTI shoe Street?
Speaker 8 (08:48):
Where is Donald first?
Speaker 7 (08:51):
On sn why Aaron Boone called it the Yankees play
of the Year. Yanks won sixty four to and their
six game losing streak. The Mets still won the series.
Manager is Carlos Mendoza.
Speaker 11 (09:01):
We just came up short today, but Willy, were guys
coming off the bench, you know, Mauricio Baty ready to go,
Guys coming from the bullpen keeping it, you know, somehow
close there and giving the offense a chance.
Speaker 9 (09:16):
Yeah.
Speaker 11 (09:17):
Overall, not only today, but the whole series.
Speaker 7 (09:20):
Part of the guys in DC red Sox beat the
national six to fourth, swept the series, and the last
place Nationals responded by firing longtime manager David Martinez and
GM Mike Rizzo. Together they won the World Series in
twenty nineteen, but they struggled ever since. Pictures and reserves
named for next week's All Star Game Max Streed and
Jazz Chisholm from the Yankees, Edwin Diaz and Pee Alonso
(09:41):
from the Mets. Alonzo will not be in the home
run derby. He's a two time champion in Houston. The
final of the Gold Cup soccer, the US and Mexico
tied at one seventy seventh minute, Mexico scored on a
controversial header. They originally called it offside, changed on video review.
Mexico won two to one too it. Wimbledon began with
the end of the fourth round and matches today for
(10:02):
a top seedyonic sinner seven times Chap Novak, Djokovic and
Ben Shelton. He and Taylor Fritz. Last Americans left for
the men to remain on the women's side, Amanda Issamoba
and Emma Navarro, who also plays today. John Stashey, We're
Bloomberg Sports Karen Nathan.
Speaker 1 (10:19):
Coast to Coast on Bloomberg Radio, nationwide on Sirius Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 3 (10:29):
Good morning, I'm Nathan Hager. Investors are heading into a
new trading week with a little more trade uncertainty. This morning,
President Trump is warning countries that are aligned with the
Bricks Nations they could face an additional ten percent tariff.
Other nations, he says, should be getting notice of their
new rates this week.
Speaker 6 (10:45):
It could be maybe as many as fifteen or so.
Speaker 7 (10:48):
And they'll be going out on.
Speaker 6 (10:49):
Monday, and some we'll go out on Tuesday and Wednesday,
and I'll and we've we've made deals also, so we're
going to have a combination of letters and some deals
have been.
Speaker 3 (10:59):
Made, as the President, speaking to reporters in Morristown, New
Jersey yesterday for more were joined by Roslind Mathis and
Bloomberg's news director for Europe, the Middle East and Africa
and Roz I think a lot of investors were braced
for the idea that we'd see a combination of deals
and new tariffs starting to be announced this week. But
where did this new threat of an extra ten percent
(11:19):
on bricks aligned nations come from?
Speaker 8 (11:22):
Good morning, Good morning.
Speaker 12 (11:23):
Well, obviously that's also the extra element in a week
that does feel quite uncertain. I mean, Donald Trump had
said these letters we're going to go out days ago.
Speaker 8 (11:31):
Now he says they're going to start to go out, and.
Speaker 12 (11:33):
They may come out over a period of days. And
of course nominating August I allows further room for negotiation
in all of that. So it does feel as though
we're not entirely sure what we're going to be looking at,
perhaps even in a week from now. And added to
that the element of saying what he might put ten
percent tariffs on what he calls the anti americanness of bricks, which,
(11:57):
of course this grouping which has been led by China, Brazil, India,
Russia and South Africa, and that group has been expanding
rapidly in recent years in the emerging market space in particular,
many many new members and a growing sense of it
being a bit of an alternate power block. Although unlikely
to supplant the US dollar anytime soon, and it's getting
(12:20):
Donald Trump's attention for now, it does seem to be
more of a poke than anything else. Because BRICKS has
been meeting over the weekend in Brazil. You can see
from the BRICKS members desired to not really respond to
it and maybe see it as a bit of a
needling attempt more than anything else. But it does add
that extra element of uncertainty. Is he serious about this
(12:41):
or was he just raising it in the minute because
Bricks happens to be meeting.
Speaker 3 (12:47):
The word that really stood out from that announcement on
social media was anti American policies of the BRICKS nations.
Do we know what the president means by anti American policies?
What he's thinking about there?
Speaker 12 (12:58):
Well, that's the other thing we don't know. I mean,
he has criticized BRICKS before. He used to be fairly
dismissive of it. He's become a bit more attuned to
it in recent years. Again this sense that perhaps bricks
nations are pushing for the use of alternate currencies in
global trade, so things like the yuan and what not,
and so that's caught his attention for the challenge potentially
(13:22):
to the global dominance of the US dollars. So maybe
he means countries that do trade in currencies outside the
US dollar, for example, as being an example of what
he would say is anti American activities.
Speaker 8 (13:34):
But it's very unclear as you say, what he means
by that. It could be a very broad church.
Speaker 12 (13:38):
And so that's why you can see bricks nations perhaps
wisely choosing the course of not really responding so far
in significant detail.
Speaker 3 (13:46):
Of course, one of the bricks nations is the Eye India.
There had been some talk leading up to this that
the US and India may be close to a deal
that could be announced this week. Does this just sort
of upend things far as that goes now.
Speaker 12 (14:01):
You'd imagine that the Indian government be probably choosing to
let this one fly by for now. As you say,
there's been a lot of chatter that India and the
US are getting close to an understanding.
Speaker 8 (14:11):
Again, these are frameworks.
Speaker 12 (14:13):
These aren't full board trade deals, the kinds that take
years to come together. These are framework understandings at a
top level, and it's an India's interests obviously to also
get some kind of arrangement by the deadline and the
senses they've been getting pretty close. Not there yet, but
for days they're inching forward, and you can imagine for
(14:33):
India the incentive is to get over the line, so
they'll probably let the bricks comment fly by for now.
Speaker 2 (14:39):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (14:46):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (14:52):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
in New York, Bloomberg in ninety nine one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 3 (15:06):
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android auto interfaces, and don't forget.
Speaker 2 (15:13):
To subscribe to Bloomberg News Now. It's the latest news,
whenever you want it in five minutes or less. Search
Bloomberg News Now on your favorite podcast platform to stay
informed all day long. I'm Karen Moscow.
Speaker 3 (15:25):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day.
Speaker 2 (15:31):
Ray
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