July 10, 2025 • 15 mins
On today's podcast:
1) Donald Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva.
2) Crews in central Texas are digging through massive piles of debris, overturned vehicles and shattered homes for a sixth day as the search continues for victims of flash floods that killed more than 100 people over the Fourth of July weekend.
3) Nvidia Corp. became the first company in history to achieve a $4 trillion market valuation, cementing its status as a kingpin in the global financial market.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
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):
Well, Karen, we begin with the latest developments in the
global trade war. President Donald Trump has unveiled a new
round of tariff demand letters, including a fifty percent rate
on imports from Brazil that threat set the country's currency
plunging as the president escalates a dispute with leftist leader
Luisa Nacio Lula de Silva.
Speaker 4 (00:34):
We get more from Bloomberg's Jill Lisis.
Speaker 5 (00:36):
This is certainly one that seems to be more political
than economic. I mean, Brazil, first of all, they weren't
part of the Liberation Day grouping because it's run a
trade deficit of the United States. Almost all of the
others have really run large surpluses. So what he's spelled
out as it relates to Brazil, as it relates to
their leader Lula, is that he's really upset about the
(00:57):
treatment of former President Bolsonaro. And then the other thing
I'd bring up as it relates to the Brazil situation
is that you know, probatent member of Bricks. They held
their big summit in Brazil just a few days ago,
and Lula was really kind of leading the charge there
in terms of railing against the US on various.
Speaker 4 (01:12):
Issues, Bloomberg's Jill Lisis says.
Speaker 3 (01:15):
President Trump also announced tariff rates on other countries, including
thirty percent for Algeria, Libya, Iraq, and Sri Lanka, and
a twenty percent rate on goods from the Philippines Nathan.
Speaker 2 (01:25):
President Trump also confirm that a planned fifty percent tariff
on copper imports will begin on the first of August.
Analysts say the move could hurt American producers of everything
from automobiles to appliances. The chair of the President's Council
of Economic Advisor, Stephen Myron, says the move is a
key part of Trump's push to rebuild US industries.
Speaker 6 (01:46):
You know, there are certain critical minerals, of which copper
is one that you just absolutely need if you're going
to have a manufacturing sector. And having a manufacturing sector
is important, not just economically, because it tends to be
a high high capital, high productivity field.
Speaker 2 (02:00):
President's Council of Economic Advisors Stephen Myron, speaking of Bloomberg yesterday,
President Trump says copper was the second most used medal
by the Department of Defense. Well.
Speaker 3 (02:10):
Meantime, Karen, President Trump is sounding optimistic about a ceasefire
deal between Israel and Hamas. The President says, negotiators are
very close to an agreement.
Speaker 7 (02:19):
There's nothing different, interdefinite about war and Gaza and all
of the other places that we all deal with so much.
But there's a very good chance that we'll have a
settlement and agreement of some kind this week and maybe
next week.
Speaker 3 (02:34):
If President Trump responded to an Axios report that US,
Israeli and Katari officials held a secret meeting at the
White House to work out lingering disagreements. Israeli Prime Minister
Benjamin Netanna, who says he is sticking to his goals
in Gaza.
Speaker 8 (02:48):
I want to achieve the release of our hostages. We
want to end Hamas rule in Gaza. We want to
make sure that Gaza does not pose a threat to
his wilk anymore.
Speaker 3 (02:59):
Prime Minister Tanyahu spoke at a meeting with senators on
Capitol Hill. Hama says it's agreed to release ten hostages
as talks continue. White House Envoy Steve Whitcoff says the
US wants a deal by the end of the week
on a sixty day ceasefire that would free all hostages
living and dead now caring. An update on the flood
recovery in Texas. At least one hundred and sixty people
(03:19):
are still missing in hardest hit Kerr County. Officials say
no one has been found alive since July fourth, after
the wall of water swept through more than sixty miles
of the Guadalupe River. As the search effort continues, Homeland
Security Secretary Christy Nome is reiterating her call to overhaul
the Federal Emergency Management Agency.
Speaker 6 (03:38):
State and local leaders know that their communities and what
they know what they need better than the government ever could.
Speaker 2 (03:45):
They know their exact needs, and they know how best
to prepare.
Speaker 3 (03:48):
Secretary Nomes spoke at a meeting of the FEMA Review
Council in New Orleans. FEMA personnel are currently assisting in
the recovery effort in Texas, and President Trump is scheduled
to visit the state tomorrow.
Speaker 2 (03:58):
Nathan Let's turn to the Mark. Yes, in Vidia has
reached historic heights. That chip maker became the first company
to reach a four trillion dollar market valuation. Ian King
covers in VideA for Bloomberg News on.
Speaker 9 (04:11):
A price to innings ratio fifty two times doesn't sound
totally crazy, and that doesn't even get it into the
top ten list of semiconducta makers, so relatively it's not
that expensive. No other semiconduct company has Ava had more
than one hundred billion dollars of revenue, have a not
even Intel at its peak.
Speaker 2 (04:30):
Bloombergy and King says in Vidia shares are at more
than one thousand percent since the beginning of twenty twenty three,
and video now accounts for seven and a half percent
of the s and P five hundred and the stock
is up two thirds of up percent this morning.
Speaker 3 (04:44):
And Microsoft shares a little changed in the pre market, Karen,
but they also closed at an all time high yesterday,
trailing only in Video in market cap. And Microsoft says
it's push into artificial intelligence is paying off, Bloomberg News
has learned. At a presentation this week, the company chief commercial
officer Judson Altoff said AI tools are boosting productivity and
(05:04):
everything from sales and customer service to software engineering. Altof
says AI saved Microsoft more than five hundred million dollars
last year in its Call Centers alone, Nathan well En.
Speaker 2 (05:15):
Vidion, Microsoft sharers are climbing to all time highs.
Speaker 4 (05:18):
Tesla has not.
Speaker 2 (05:20):
The stock is down twenty six percent and twenty twenty five.
CEO Elon Musk lashed out at Webbush's Dan Ives when
the analysts made suggestions to Tesla's board must set on
X quote shut up, Dan, and we get this story
with Bloomberg's Charlie Pellett.
Speaker 10 (05:36):
Musk's comment came after Ives called on Tesla's board to
rein in Musk's political activity.
Speaker 4 (05:42):
Bay Look, I mean, I knew you On was not
gonna be happy.
Speaker 10 (05:45):
I'ves explained his position on Bloomberg BusinessWeek Daily.
Speaker 9 (05:49):
The reality is, you know the board they basically need
to now step it up.
Speaker 10 (05:56):
Ives does remain Wall Street's most bullish Tesla analyst, with
an outperform rating on the stock and a five hundred
dollars price target in New York. Charlie Bloomberg Radio, all right, Charlie,
thank you. Let's check some other stocks on the move
this morning. We're watching shares of Kellogg. They are surging
more than forty eight percent. Bloomberg News has learned the
(06:18):
serial maker may be bought by Italian candymaker Ferrero International
for about three billion dollars. Kellogg, of course, the owner
of Cerial brands, Fruit Loops and Frosted Flakes. It's been
struggling to revive growth as consumers move away from sugary
foods and Nathan.
Speaker 2 (06:34):
A management change is on the way at one of
the world's biggest advertising agencies, WPPS named Microsoft executive Cindy
Rose as its next chief executive officer. She replaces Mark
Reid as the advertising group looks for ways to restart
sales growth and win new customers. Rose, who is currently
Chief Operating Officer at Microsoft's Global Enterprise Business, begins her
(06:55):
new job at WPP on September. First time Now for
a look at some of the other stories making news
in New York and around the world, and for that
were joined by Bloomberry's and Michael bar Michael Good Morning.
Speaker 11 (07:08):
Good Morning. Karen Queen's assemblyman Zoron Mumdani thanked teachers after
he picked up a key endorsement in his bid to
be the next mayor of New York. The United Federation
of Teachers, the city's most powerful teachers union, is backing
the Democratic Socialist The UFT had not endorsed a candidate
in the Democratic primary.
Speaker 12 (07:29):
This is the campaign of working people, This is the
campaign organized labor, and this is the campaign that will
win in November.
Speaker 11 (07:36):
The endorsement comes after President Trump threatened to overtake New
York City should Mamdani be elected. A Long Island community
is angry after a twenty year old Suffolk County Community
College honors student was detained by ICE agents. Sarah Lopez
Garcia was sent to a Louisiana detention facility to await
(07:56):
trial and probable deportation to Colombia. Lopez Garcia was detained
almost two months ago with their mother when ICE agents
were looking for someone else. Her fiance says Lopez Garcia
was in the process of seeking legal status in the
US when she was detained. Measles cases in the US
are at their highest in more than three decades. According
(08:19):
to the US Centers for Disease Control Land Prevention, the
US has closed to thirteen hundred cases since the beginning
of the year. That's higher than twenty nineteen. Eighteen states
have seen outbreaks this year. Experts fear the US may
lose its status as having eliminated measles, doctor Darien Sutton.
Speaker 12 (08:39):
The reason is because measles is very good at infecting people.
Is the most contagious virus that exists on this planet.
And right now this surge is not just a surge,
it's a warning that our public health protective barrier has
cracks in it.
Speaker 11 (08:53):
Doctor Darien Sutton. Manhattan rents hit a record high for
the fourth time in the past five months. According to
a prey Miller Samuel and broke Ridge Douglas Element. The
median rent on New leasas signed in June was four
six hundred and twenty five dollars. Global News twenty four
hours a day and whenever you want it with the
Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Carrot.
Speaker 2 (09:14):
All right, Michael Barr, thank you time now for the
Bloomberg Sports updating. Here's Jean stash Hour John.
Speaker 4 (09:24):
Good morning, morning Karen.
Speaker 13 (09:25):
In the midst of last week's six game Yankee losing streak,
here the news that dependable starter Clark Schmidt was done
for the season, taking the spot of the rotation at
least for now. Cam Schlittler six foot six inch twenty.
Speaker 4 (09:38):
Four year old from outside of Boston.
Speaker 13 (09:39):
Made his major League debut at the Stadium, pitched well,
got held from the Yanks.
Speaker 4 (09:43):
All Star infielder Hi.
Speaker 8 (09:46):
Jove centerfield, Rodriguez Pack.
Speaker 4 (09:48):
He's on the truck.
Speaker 7 (09:49):
He's at all see ya pen the Monument Park A
solo shop for Chisholm four one.
Speaker 13 (09:55):
Yanks on the Yes, there were two, and he's later
Jazz Chisholm homeward again. Yanks beats the A nine to six.
Chipship's now back playing at his better position, second base.
DJ Lemayhew had been playing there. Yanks didn't want to
use him at third base, didn't really have any use
for him, so they have designated Lemayeu for assignment.
Speaker 4 (10:13):
Here's Aaron Boone in a.
Speaker 14 (10:15):
Tough couple of days, you know, some some some hard conversations,
and you know, and then ultimately come into this decision
conclusion obviously not easy for you know, what's been a
great player and who's done a lot of great things
for this organization.
Speaker 13 (10:34):
In le Mayeu's first two seasons with the Yanks, he
betted three twenty seven and three sixty four, but he's
not been anywhere near those averages Recently, the Mets reigned
out in Baltimore doubleheader today Red Sox a six straight
win ten to two over Colorado Nationals won for new
manager Miguel Cairo eight to two in Saint Louis. The
Giants are believed to be looking to sell a ten
percent ownership stake, and Eli Manning had expressed an interest.
(10:56):
He's now saying he won't pursue it because it's too
so the Giants you said to be worth ten billion dollars.
Frank Laden has died at ninety three, Brooklyn native who
became the coach in GM of the Utah Jazz.
Speaker 4 (11:08):
His son Scott, the former nixt GM John Stashie. We're
Bloomberg Sports.
Speaker 1 (11:13):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 4 (11:24):
Good morning, I'm Nathan Hager.
Speaker 3 (11:26):
Investors and businesses are grappling with the latest tariff letters
and sectoral threats from President Donald Trump, including fifty percent
rates for imports from Brazil and copper products. Joining us
now for the latest on the trade wars. Bloomberg News
Global Business Editor Josh Gaaloo and Josh. The copper tariff
(11:47):
in particular has gotten the market's attention pretty much all
week long. I mean there's still some questions about how
something like that could be implemented, though, are there.
Speaker 8 (11:55):
Yeah.
Speaker 15 (11:56):
As a matter of fact, markets appear to doubt that
it will be the full fifty percent that Trump has threatened.
You can see that in the margin between the price
in the US and the price in London, and they're
they're not pricing in that full fifty percent. But look,
this is something that you know, Trump and his administration
(12:18):
argue is sort of a national security priority because copper
is used in such an incredibly wide range of products
because of its obviously it's conductivity, conductivity, it's in a
lot of alloys. They're used for all kinds of appliances,
you know, motors, cars, everything. So you know, this is
(12:42):
a really difficult it's a it is a crucial metal
for the US and anyone looking to make these products.
But the US makes it about fifty percent of its own,
or it minds about fifty percent of its own copper,
and then the rest comes from you know, countries like Chile, Canada, Peru, Mexico.
(13:02):
So you know, this is a really this is going
to hurt American producers of all those things that I
was just mentioning who have to import copper. The price
is going to go up, and that kind of a
really wide impact on the economy.
Speaker 3 (13:18):
And when it comes to this tariff threat for Brazil,
obviously a fifty percent rate is much higher than some
of the other rates that we've heard about so far,
But this one seems a little more political than related
to the actual trade dynamic between the US and Brazil.
Speaker 15 (13:35):
That's right. What's interesting here is that Brazil actually runs
a deficit with the US when it comes to trading
of goods, and of course that balance of trade is
what Trump has always pointed to that he wants to
even out when he talks about putting in reciprocal tariffs
(13:55):
or even just straight bilateral tariffs. But you know, in
Trump's announcement for this, he did talk about Balsonaro, who
of course is the former Brazilian president who is facing
charges of insurrection after trying to interfere with the election
of in i think twenty twenty two of Lula. And
(14:18):
you know, he didn't even know there is no real
economic ground to stand on at least that's consistent with
his other tariffs that he's been putting on, you know,
across the board against countries. This one is clearly more political,
and he's demanding that Brazil dropped those charges, and right
now it looks like Brazil is very very much not
(14:40):
keen to do so, so we'll have to see how
that plays out. But you're right, it's really a much
more political use of that tool that we haven't quite
seen a use quite so blatantly like that.
Speaker 2 (14:52):
This is Bloomberry Daybreak, your morning podcast and the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (14:58):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (15:04):
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 to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 3 (15:19):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 2 (15:25):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news, whenever you want it in five minutes
or less. Search Bloomberg News Now and your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 4 (15:38):
And I'm Nathan Hager.
Speaker 3 (15:39):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg Day.
Speaker 5 (15:44):
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):
Well, Karen, we begin with the latest developments in the
global trade war. President Donald Trump has unveiled a new
round of tariff demand letters, including a fifty percent rate
on imports from Brazil that threat set the country's currency
plunging as the president escalates a dispute with leftist leader
Luisa Nacio Lula de Silva.
Speaker 4 (00:34):
We get more from Bloomberg's Jill Lisis.
Speaker 5 (00:36):
This is certainly one that seems to be more political
than economic. I mean, Brazil, first of all, they weren't
part of the Liberation Day grouping because it's run a
trade deficit of the United States. Almost all of the
others have really run large surpluses. So what he's spelled
out as it relates to Brazil, as it relates to
their leader Lula, is that he's really upset about the
(00:57):
treatment of former President Bolsonaro. And then the other thing
I'd bring up as it relates to the Brazil situation
is that you know, probatent member of Bricks. They held
their big summit in Brazil just a few days ago,
and Lula was really kind of leading the charge there
in terms of railing against the US on various.
Speaker 4 (01:12):
Issues, Bloomberg's Jill Lisis says.
Speaker 3 (01:15):
President Trump also announced tariff rates on other countries, including
thirty percent for Algeria, Libya, Iraq, and Sri Lanka, and
a twenty percent rate on goods from the Philippines Nathan.
Speaker 2 (01:25):
President Trump also confirm that a planned fifty percent tariff
on copper imports will begin on the first of August.
Analysts say the move could hurt American producers of everything
from automobiles to appliances. The chair of the President's Council
of Economic Advisor, Stephen Myron, says the move is a
key part of Trump's push to rebuild US industries.
Speaker 6 (01:46):
You know, there are certain critical minerals, of which copper
is one that you just absolutely need if you're going
to have a manufacturing sector. And having a manufacturing sector
is important, not just economically, because it tends to be
a high high capital, high productivity field.
Speaker 2 (02:00):
President's Council of Economic Advisors Stephen Myron, speaking of Bloomberg yesterday,
President Trump says copper was the second most used medal
by the Department of Defense. Well.
Speaker 3 (02:10):
Meantime, Karen, President Trump is sounding optimistic about a ceasefire
deal between Israel and Hamas. The President says, negotiators are
very close to an agreement.
Speaker 7 (02:19):
There's nothing different, interdefinite about war and Gaza and all
of the other places that we all deal with so much.
But there's a very good chance that we'll have a
settlement and agreement of some kind this week and maybe
next week.
Speaker 3 (02:34):
If President Trump responded to an Axios report that US,
Israeli and Katari officials held a secret meeting at the
White House to work out lingering disagreements. Israeli Prime Minister
Benjamin Netanna, who says he is sticking to his goals
in Gaza.
Speaker 8 (02:48):
I want to achieve the release of our hostages. We
want to end Hamas rule in Gaza. We want to
make sure that Gaza does not pose a threat to
his wilk anymore.
Speaker 3 (02:59):
Prime Minister Tanyahu spoke at a meeting with senators on
Capitol Hill. Hama says it's agreed to release ten hostages
as talks continue. White House Envoy Steve Whitcoff says the
US wants a deal by the end of the week
on a sixty day ceasefire that would free all hostages
living and dead now caring. An update on the flood
recovery in Texas. At least one hundred and sixty people
(03:19):
are still missing in hardest hit Kerr County. Officials say
no one has been found alive since July fourth, after
the wall of water swept through more than sixty miles
of the Guadalupe River. As the search effort continues, Homeland
Security Secretary Christy Nome is reiterating her call to overhaul
the Federal Emergency Management Agency.
Speaker 6 (03:38):
State and local leaders know that their communities and what
they know what they need better than the government ever could.
Speaker 2 (03:45):
They know their exact needs, and they know how best
to prepare.
Speaker 3 (03:48):
Secretary Nomes spoke at a meeting of the FEMA Review
Council in New Orleans. FEMA personnel are currently assisting in
the recovery effort in Texas, and President Trump is scheduled
to visit the state tomorrow.
Speaker 2 (03:58):
Nathan Let's turn to the Mark. Yes, in Vidia has
reached historic heights. That chip maker became the first company
to reach a four trillion dollar market valuation. Ian King
covers in VideA for Bloomberg News on.
Speaker 9 (04:11):
A price to innings ratio fifty two times doesn't sound
totally crazy, and that doesn't even get it into the
top ten list of semiconducta makers, so relatively it's not
that expensive. No other semiconduct company has Ava had more
than one hundred billion dollars of revenue, have a not
even Intel at its peak.
Speaker 2 (04:30):
Bloombergy and King says in Vidia shares are at more
than one thousand percent since the beginning of twenty twenty three,
and video now accounts for seven and a half percent
of the s and P five hundred and the stock
is up two thirds of up percent this morning.
Speaker 3 (04:44):
And Microsoft shares a little changed in the pre market, Karen,
but they also closed at an all time high yesterday,
trailing only in Video in market cap. And Microsoft says
it's push into artificial intelligence is paying off, Bloomberg News
has learned. At a presentation this week, the company chief commercial
officer Judson Altoff said AI tools are boosting productivity and
(05:04):
everything from sales and customer service to software engineering. Altof
says AI saved Microsoft more than five hundred million dollars
last year in its Call Centers alone, Nathan well En.
Speaker 2 (05:15):
Vidion, Microsoft sharers are climbing to all time highs.
Speaker 4 (05:18):
Tesla has not.
Speaker 2 (05:20):
The stock is down twenty six percent and twenty twenty five.
CEO Elon Musk lashed out at Webbush's Dan Ives when
the analysts made suggestions to Tesla's board must set on
X quote shut up, Dan, and we get this story
with Bloomberg's Charlie Pellett.
Speaker 10 (05:36):
Musk's comment came after Ives called on Tesla's board to
rein in Musk's political activity.
Speaker 4 (05:42):
Bay Look, I mean, I knew you On was not
gonna be happy.
Speaker 10 (05:45):
I'ves explained his position on Bloomberg BusinessWeek Daily.
Speaker 9 (05:49):
The reality is, you know the board they basically need
to now step it up.
Speaker 10 (05:56):
Ives does remain Wall Street's most bullish Tesla analyst, with
an outperform rating on the stock and a five hundred
dollars price target in New York. Charlie Bloomberg Radio, all right, Charlie,
thank you. Let's check some other stocks on the move
this morning. We're watching shares of Kellogg. They are surging
more than forty eight percent. Bloomberg News has learned the
(06:18):
serial maker may be bought by Italian candymaker Ferrero International
for about three billion dollars. Kellogg, of course, the owner
of Cerial brands, Fruit Loops and Frosted Flakes. It's been
struggling to revive growth as consumers move away from sugary
foods and Nathan.
Speaker 2 (06:34):
A management change is on the way at one of
the world's biggest advertising agencies, WPPS named Microsoft executive Cindy
Rose as its next chief executive officer. She replaces Mark
Reid as the advertising group looks for ways to restart
sales growth and win new customers. Rose, who is currently
Chief Operating Officer at Microsoft's Global Enterprise Business, begins her
(06:55):
new job at WPP on September. First time Now for
a look at some of the other stories making news
in New York and around the world, and for that
were joined by Bloomberry's and Michael bar Michael Good Morning.
Speaker 11 (07:08):
Good Morning. Karen Queen's assemblyman Zoron Mumdani thanked teachers after
he picked up a key endorsement in his bid to
be the next mayor of New York. The United Federation
of Teachers, the city's most powerful teachers union, is backing
the Democratic Socialist The UFT had not endorsed a candidate
in the Democratic primary.
Speaker 12 (07:29):
This is the campaign of working people, This is the
campaign organized labor, and this is the campaign that will
win in November.
Speaker 11 (07:36):
The endorsement comes after President Trump threatened to overtake New
York City should Mamdani be elected. A Long Island community
is angry after a twenty year old Suffolk County Community
College honors student was detained by ICE agents. Sarah Lopez
Garcia was sent to a Louisiana detention facility to await
(07:56):
trial and probable deportation to Colombia. Lopez Garcia was detained
almost two months ago with their mother when ICE agents
were looking for someone else. Her fiance says Lopez Garcia
was in the process of seeking legal status in the
US when she was detained. Measles cases in the US
are at their highest in more than three decades. According
(08:19):
to the US Centers for Disease Control Land Prevention, the
US has closed to thirteen hundred cases since the beginning
of the year. That's higher than twenty nineteen. Eighteen states
have seen outbreaks this year. Experts fear the US may
lose its status as having eliminated measles, doctor Darien Sutton.
Speaker 12 (08:39):
The reason is because measles is very good at infecting people.
Is the most contagious virus that exists on this planet.
And right now this surge is not just a surge,
it's a warning that our public health protective barrier has
cracks in it.
Speaker 11 (08:53):
Doctor Darien Sutton. Manhattan rents hit a record high for
the fourth time in the past five months. According to
a prey Miller Samuel and broke Ridge Douglas Element. The
median rent on New leasas signed in June was four
six hundred and twenty five dollars. Global News twenty four
hours a day and whenever you want it with the
Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Carrot.
Speaker 2 (09:14):
All right, Michael Barr, thank you time now for the
Bloomberg Sports updating. Here's Jean stash Hour John.
Speaker 4 (09:24):
Good morning, morning Karen.
Speaker 13 (09:25):
In the midst of last week's six game Yankee losing streak,
here the news that dependable starter Clark Schmidt was done
for the season, taking the spot of the rotation at
least for now. Cam Schlittler six foot six inch twenty.
Speaker 4 (09:38):
Four year old from outside of Boston.
Speaker 13 (09:39):
Made his major League debut at the Stadium, pitched well,
got held from the Yanks.
Speaker 4 (09:43):
All Star infielder Hi.
Speaker 8 (09:46):
Jove centerfield, Rodriguez Pack.
Speaker 4 (09:48):
He's on the truck.
Speaker 7 (09:49):
He's at all see ya pen the Monument Park A
solo shop for Chisholm four one.
Speaker 13 (09:55):
Yanks on the Yes, there were two, and he's later
Jazz Chisholm homeward again. Yanks beats the A nine to six.
Chipship's now back playing at his better position, second base.
DJ Lemayhew had been playing there. Yanks didn't want to
use him at third base, didn't really have any use
for him, so they have designated Lemayeu for assignment.
Speaker 4 (10:13):
Here's Aaron Boone in a.
Speaker 14 (10:15):
Tough couple of days, you know, some some some hard conversations,
and you know, and then ultimately come into this decision
conclusion obviously not easy for you know, what's been a
great player and who's done a lot of great things
for this organization.
Speaker 13 (10:34):
In le Mayeu's first two seasons with the Yanks, he
betted three twenty seven and three sixty four, but he's
not been anywhere near those averages Recently, the Mets reigned
out in Baltimore doubleheader today Red Sox a six straight
win ten to two over Colorado Nationals won for new
manager Miguel Cairo eight to two in Saint Louis. The
Giants are believed to be looking to sell a ten
percent ownership stake, and Eli Manning had expressed an interest.
(10:56):
He's now saying he won't pursue it because it's too
so the Giants you said to be worth ten billion dollars.
Frank Laden has died at ninety three, Brooklyn native who
became the coach in GM of the Utah Jazz.
Speaker 4 (11:08):
His son Scott, the former nixt GM John Stashie. We're
Bloomberg Sports.
Speaker 1 (11:13):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 4 (11:24):
Good morning, I'm Nathan Hager.
Speaker 3 (11:26):
Investors and businesses are grappling with the latest tariff letters
and sectoral threats from President Donald Trump, including fifty percent
rates for imports from Brazil and copper products. Joining us
now for the latest on the trade wars. Bloomberg News
Global Business Editor Josh Gaaloo and Josh. The copper tariff
(11:47):
in particular has gotten the market's attention pretty much all
week long. I mean there's still some questions about how
something like that could be implemented, though, are there.
Speaker 8 (11:55):
Yeah.
Speaker 15 (11:56):
As a matter of fact, markets appear to doubt that
it will be the full fifty percent that Trump has threatened.
You can see that in the margin between the price
in the US and the price in London, and they're
they're not pricing in that full fifty percent. But look,
this is something that you know, Trump and his administration
(12:18):
argue is sort of a national security priority because copper
is used in such an incredibly wide range of products
because of its obviously it's conductivity, conductivity, it's in a
lot of alloys. They're used for all kinds of appliances,
you know, motors, cars, everything. So you know, this is
(12:42):
a really difficult it's a it is a crucial metal
for the US and anyone looking to make these products.
But the US makes it about fifty percent of its own,
or it minds about fifty percent of its own copper,
and then the rest comes from you know, countries like Chile, Canada, Peru, Mexico.
(13:02):
So you know, this is a really this is going
to hurt American producers of all those things that I
was just mentioning who have to import copper. The price
is going to go up, and that kind of a
really wide impact on the economy.
Speaker 3 (13:18):
And when it comes to this tariff threat for Brazil,
obviously a fifty percent rate is much higher than some
of the other rates that we've heard about so far,
But this one seems a little more political than related
to the actual trade dynamic between the US and Brazil.
Speaker 15 (13:35):
That's right. What's interesting here is that Brazil actually runs
a deficit with the US when it comes to trading
of goods, and of course that balance of trade is
what Trump has always pointed to that he wants to
even out when he talks about putting in reciprocal tariffs
(13:55):
or even just straight bilateral tariffs. But you know, in
Trump's announcement for this, he did talk about Balsonaro, who
of course is the former Brazilian president who is facing
charges of insurrection after trying to interfere with the election
of in i think twenty twenty two of Lula. And
(14:18):
you know, he didn't even know there is no real
economic ground to stand on at least that's consistent with
his other tariffs that he's been putting on, you know,
across the board against countries. This one is clearly more political,
and he's demanding that Brazil dropped those charges, and right
now it looks like Brazil is very very much not
(14:40):
keen to do so, so we'll have to see how
that plays out. But you're right, it's really a much
more political use of that tool that we haven't quite
seen a use quite so blatantly like that.
Speaker 2 (14:52):
This is Bloomberry Daybreak, your morning podcast and the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (14:58):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (15:04):
You can also listen live each morning starting at five
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Speaker 3 (15:19):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 2 (15:25):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news, whenever you want it in five minutes
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platform to stay informed all day long. I'm Karen Moscow.
Speaker 4 (15:38):
And I'm Nathan Hager.
Speaker 3 (15:39):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg Day.
Speaker 5 (15:44):
Ray
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