July 8, 2025 • 17 mins
On today's podcast:
1) President Trump sends out a wave of tariff letters, while suggesting he's open to negotiations. President Trump released letters threatening higher tariffs, but he extended the deadline for talks to Aug. 1, the day that the new levies will take effect. The letters were released two days before agreements were due from trading partners facing Trump’s so-called reciprocal levies.
2) The death toll rises in Texas as questions remain about preparedness for the disaster. More than 100 people have been confirmed dead in floods that tore through central Texas over the weekend. The disaster has sparked debate about whether anything more could have been done to prevent it, with questions raised about warning systems, forecasts, and notification of people in the affected areas.
3) A setback for Apple as a top AI executive leaves to join Meta. Ruoming Pang, a distinguished engineer and manager in charge of Apple's foundation models team, is leaving for Meta Platforms Inc. Meta offered Pang a package worth tens of millions of dollars per year, according to people with knowledge of the matter. Pang's departure could be the start of a string of exits from the AFM group, with several engineers telling colleagues they are planning to leave in the near future to Meta or elsewhere, the people said.
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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.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Speaker 2 (00:15):
Karen, we begin with the latest on the Global Trade Board.
President Donald Trump has unveiled a wave of letters again
threatening to impose higher tariff rates on key trading partners.
They include twenty five percent levies on goods from Japan
and South Korea, as well as tariff plans for more
than a dozen other nations, including South Africa, Indonesia, Thailand,
and Cambodia. But in a move reminiscent of previous delays,
(00:38):
the President also teased the possibility of further talks.
Speaker 4 (00:42):
I would say firm, but not one hundred percent firm.
If they call up and they say would like to
do something a different way, we're going to be open
to that. But essentially that's the way it is right now.
Speaker 2 (00:52):
President Trump spoke shortly after signing an executive order delaying
the new rates from July ninth tomorrow to August first, first.
That effectively buys countries an extra three weeks to cut
a deal with the White House.
Speaker 3 (01:05):
Meanwhile, Nathan, a day after President Trump sent out those letters.
Marco Rubio is making his first trip to Asia as
the top US diplomat. The Secretary of State is heading
to a summit in Malaysia for a gathering at the
Association of Southeast Asian Nations. Malaysia's one of the countries
that received a tariff letter yesterday.
Speaker 2 (01:22):
I meanwhile in Europe car and the EU is trying
to lock in a preliminary trade deal with the US
this week. Let's go to London get the latest of
Bloomberg's un potts you and what is the latest?
Speaker 5 (01:32):
Nathan and Karen. Trump's tariff deadline may have been delayed,
but Brussels isn't taking any chances. Bloomberg has learned the
EU is seeking a preliminary trade settlement with the US
this week that would allow it to lock in a
ten percent tariff rate beyond August first. This is a negotiate,
a more permanent agreement. We understand. The EU is also
seeking an exemption for certain key products, including aircraft and
(01:56):
aircraft parts, as well as wines and spirits. In London,
I'm ewing pots and yet all.
Speaker 3 (02:01):
Right you and thanks now to the latest in the
war in Ukraine. Just days after speaking with President Vladimir Zelenski.
President Trump says he will send more weapons to the country.
Speaker 4 (02:10):
We're going to send some more weapons. They have to
be able to defend themselves. They're getting hit very hard.
Now they're getting hit very hard. We're going to have
to send more weapons. You hat, defensive weapons primarily, but
they're getting hit very, very hard.
Speaker 3 (02:25):
President Trump's decision comes after the Pentagon halted flows of
some air defense missiles and artillery shells to Ukraine and Karen.
Speaker 2 (02:32):
It comes as President Trump hosted Israeli Prime Minister Benjamin
Natan Yahoo at the White House last night. The Israeli
leader keeped praise on the President as he pushes for
a ceasefire in Gaza.
Speaker 6 (02:42):
He's forging peace as we speak, in one country and
one region after the other. So I want to present
to you President the letter I sent to the Normal
Prize Committee. It's momenting you for the Peace Prize, which
is well deserved and you should get it. Thank you
very much.
Speaker 2 (03:01):
This I didn't know a Prime Minister Natanya who presented
President Trump with that Nobel Peace Prize nomination in the
Oval Office. The President has long sought the Nobel, He's
expressed irritation that former President Barack Obama got it before
surging troops into Afghanistan Natanya, whose visit comes weeks after
the US dropped bombs on Iran's nuclear sites. President Trump
says the US and Iran will meet soon and he's
(03:24):
open till lifting sanctions now.
Speaker 3 (03:26):
Nathan, Let's get you an update on the disaster in
Texas Hill Country. They confirmed death toll now up to
one hundred and four from the flash floods that tour
through the region over the weekend. That includes twenty seven
children and counselors from the Mystic Girls summer camp along
the Guadalupe River. Kervell, Texas Mayor Joe Hering Junior, says
there may be more heartache to come.
Speaker 2 (03:48):
Primary search continues and we remain hopeful every foot, every mile,
every bend of the river.
Speaker 3 (03:56):
And as the search effort continues, authorities are facing questions
about why the area lacked warning sirens and whether the
forecasts warned enough about the risk of catastrophic flooding. Texas
Senator Ted Crue says the focus should be on recovery.
Speaker 7 (04:10):
We will have a reasonable conversation about a are there
any ways to have earlier detection, and some of that
the limits of a flash flood. They're very difficult because
they could arise so quickly.
Speaker 3 (04:22):
Senator Ted cru says President Trump has promised to provide
any resource as the state needs for its response. The
President says he'll visit Texas on Friday.
Speaker 2 (04:31):
Well, Kron, A big change maybe coming soon to airports security.
Bloomberg News has learned the Transportation Security Administrations planning to
update its policies so travelers no longer have to remove
their shoes at standard screening checkpoints. The move would extend
a benefit that's already available for those who pay for
TSA pre check. The US would join other global aviation
hubs like the European Union, Dubai, and Singapore that do
(04:53):
not require travelers to remove their shoes.
Speaker 3 (04:56):
Nathan, let's turn to company news now, and Apple may
be facing an exodus of top talent. Let's get the
details a Bloomberg's John Tucker and John, where are they going?
Speaker 8 (05:05):
Well, Karen, A lot of them are going to meta platforms.
One of the first out the door, Rubing Pang, a
distinguished engineer and a manager in charge of the Apple
Foundation Models Team AFM Meta dangled tens of millions of
dollars a year in front of this engineer. He's going
to work for Meta's new superintelligence group. A Pang's departure
could be the start of a string of exits from AFM,
(05:27):
with several engineers telling colleagues they're planning to leave in
the near future. Tom Gunter, a top deputy to Pang,
left Apple last month. A Pang's departure the most significant
in Apple's AI ranks since the company started working on
Apple Intelligence a few years ago. Now it's not going
to help Apples push into AI, which has been described
as flailing. A Meta CEO Mark Zuckerberg has on a
(05:50):
hiring spree, bringing on major AI leaders who are going
to work directly with him. You knoww York, John Tucker,
Bloomberg Radio.
Speaker 2 (05:58):
All right, John, thank you.
Speaker 3 (05:59):
No.
Speaker 2 (05:59):
Vardes has on regulatory approval for the first medicine specifically
designed to treat malaria in babies. The drugmaker says until now,
infants with malaria were typically treated with tablets meant for
older children, but adjusted for weight. In twenty twenty three,
the World Health Organization said there were nearly six hundred
thousand malaria related deaths children under five accounted for three
(06:21):
and four of them.
Speaker 3 (06:26):
It's time now for a look at some of the
other stories making news in New York and around the world,
and for that we're joined by Bloomberg's Michael Barr Michael,
Good Morning.
Speaker 9 (06:33):
Good Morning Karen. A federal judge is ordering a Homeland
Security official to appear in court on Thursday and map
out the government's plans for Kilmar Abrego Garcia. It comes
after federal prosecutors said they would initiate deportation proceedings against
him if he is released from jail before trial on
human smuggling charges. Attorneys for Abrego Garcia requested he'd be
(06:57):
returned to Maryland from Tennessee, where he's being detained. Attorney
Simon Sandebald Motionenberg says Thursday's hearing is a sign the
judge is notably tired of hearing from prosecutors who claim
to not have information.
Speaker 7 (07:10):
If they want to deport him to a third country,
they need to name that country, and they need to
describe the process by which they're going to give him
due process.
Speaker 9 (07:19):
Attorney Motionenberg says Abrego Garcia was mistakenly deported to El Salvador.
He was living in Maryland with his wife and child,
both of whom are American citizens. The Mayor of Los
Angeles denies there was a hostile crowd threatening federal immigration
agents at MacArthur Park in LA. Approximately ninety armed National
(07:41):
Guard troops were deployed to protect ICE agents. Mayor Karen
Vass it.
Speaker 10 (07:45):
Is outrageous and Unamerican that we have federal armed vehicles
in our parks when nothing is going on in the parks.
Speaker 9 (07:56):
Meanwhile, in eighteen state court filing led by Californa YEAH
alleges that federal immigration agents are impeding on the Fourth
Amendment protection against Unreasonable search and seizure. Boston University is
cutting one hundred and twenty staff positions and one hundred
twenty vacancies to reduce spending by five percent for fiscal
(08:16):
twenty twenty six due to the Trump Administration's changes to
higher education funding. Boston University President Melissa gilliam says the
university is responding to a national renegotiation of how the
country's higher education model will be funded. Bu received five
hundred and seventy nine million dollars in research funding last year,
(08:37):
primarily from federal agencies. Global News twenty four hours a
day and whenever you want it with Bloomberg News Now,
Michael Barn, this is Bloomberg Karen.
Speaker 3 (08:48):
All right, Michael Barr, thank you time now for the
Bloombergy Sports supdate. Here's John stash Hour, John, good morning.
Speaker 1 (08:58):
Good morning. Caret quarter final begining today at Wimbledon. Two
time defending champion Carlos Alcarez takes on the brick. Cameron Noriri,
Taylor Fritz plays Karen catching off Fritz. One of two
Americans left in the men's singles. Ben Shelton's the other.
He'll face Top Seedyonick Center tomorrow Center. Yesterday played two cents,
lost them both, but won the match because Grigor Dimitrov
(09:19):
suffered an injury to his pectoral muscle and I had
to retire. Incredibly, It's the fifth consecutive Grand Slam tournament
where for various reasons that has happened to Demitrov. He
did not speak afterwards. Sinner on Center COURTD.
Speaker 11 (09:34):
It's been sun lucky in the past in a couple
of years. An incredible an incredible player, a good friend
of mine also, and we understand each other where well
off the court too, and you know seeing him in
this position, it's honestly, you know, if there would be
a chance, you know that he could play, you know,
the next round, you know he would he would deserve center.
Speaker 1 (09:55):
Also dealing with an elbow injuries having MRI today, Nick
made official naming Mike Brown their new coach. Saint in
the stated that Brown brings a championship pedigree. He has
won four NBA titles as an assistant. The next season
ended with that loss at Indiana Tyres. Halliburton then tore's
achilles in Game seven of the finals, and the Pacers
made official that Halliburton will not play at all next season.
(10:17):
The Celtics have not yet said that about their star
Jason Tatum had the same injury. In the playoffs against
the Knicks at Fenway. Red Sox beeat Colorado nine to three,
Toronto one again eight to four over the White Sox.
That's nine wins in a row. The Red Hot Blue
Jays leave the Yankees by three and a half games.
The Yanks are home tonight to play Seattle. The Mariners
are led by catcher Cal Rawley thirty five home runs,
(10:39):
so two more than Aaron Judge. They both have seventy
four RBIs Metts start a series in Baltimore. The Nationals
are in Saint Louis. The that's just fired their manager
Davey Martinez. His bench coach Miguel Cairo is taking over.
John Stashawa Bloomberg Sport.
Speaker 9 (10:54):
Karen Nathan.
Speaker 1 (10:57):
Coast to Coast on Bloomberg Radio One on Serious Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business app.
Speaker 5 (11:05):
This is Bloomberg Daybreak.
Speaker 6 (11:07):
Good morning.
Speaker 2 (11:08):
I'm Nathan Hager. President Donald Trump is putting a handful
of countries on notice that they've got about three more
weeks to reach deals or face higher teriff rates around
the level of the April second announcement. But the President
is suggesting he may still be open to negotiation around
the new August first deadline.
Speaker 4 (11:25):
I would say firm, but not one hundred percent firm.
If they call up and they say would like to
do something a different way, We're going to be open
to that.
Speaker 2 (11:33):
And that was the President speaking at a White House
dinner last night. For more were joined by Bloomberg's Jill
Deesis in Hong Kong. So, Jill, we've gotten a chance
to digest these tariff letters more than a dozen sent
out yesterday, a lot of focus on Japan and South
Korea in particular. How are those nations taking this sort
(11:54):
of reprieve when it comes to the April second tariffs?
Speaker 12 (11:57):
Good morning, Yes, good morning, Nathan. I think that's the
right way to think about it, honestly, is that it's
a bit of a reprieve. I mean, this is essentially
a delay and all. But name we were, you know,
the ninety day deadline coming up this week. Now you
not only have August first positioned as the deadline when
tariffs are going to effect, but then you've also got,
as we just heard from Trump himself there saying, you know,
(12:19):
that's not even necessarily one hundred percent. It does seem
like there's room to negotiate when it comes to Japan
in South Korea in particular. I think these have been
really really interesting countries to watch over the last several weeks,
Japan especially because there have been a lot of pretty
major sticking points with that country. A lot of this
does come down to automotive tariffs, so those tariffs on
cars and car parts. That's one thing that Trump has
(12:41):
kind of indicated that he's not willing to really compromise on.
We did hear from the Japanese Prime Minister sugar Ushiba
earlier today, you know, talking about the fact that you
know that Japan is still really interested in trying to
reach a deal, although you know it has previously avoided
making what he called easy compromises. So you do get
the sense that while Tokyo is very interested in trying
(13:03):
to move something further, it's not necessarily clear what exactly
that is going to look like, although obviously yes, they
do have some time bought. I think, you know, South Korea,
you know, we have seen some optimism there. Certainly it
does seem like Soul is interested in moving forward with something.
But again, I think really the big takeaway here is
that it doesn't really feel like we're under this extreme
(13:23):
immediate time pressure here. Maybe there is some time for
these nations to hash out for their talks with Washington, But.
Speaker 2 (13:29):
I guess the question is whether three more weeks is
enough time, given the fact that we've had more than
three months up to now.
Speaker 12 (13:36):
Well, I mean, I would also argue, first of all,
that ninety days is certainly an incredibly ambitious timescale by
which to negotiate any trade deal. Let alone you know,
up to you know, dozens upon dozens of trade deals
with countries all over the world. I think that one
way to think about this, quite frankly, is when you've
got Trump saying that not, you know, not even that
three weeks out that August first deadline is necessarily a
(13:57):
one hundred percent done firm commitment. That does indicate that,
you know, maybe maybe the White House is sitting here
thinking like, yeah, I mean, you know, some of these
things actually do take time. And it would also point
out that even if you do get something that's in
the vein of like a preliminary deal, I look at,
you know, for example, what happened with the United Kingdom
a few weeks ago, that doesn't necessarily mean that that
resolves all of the trade issues. I mean, first of all,
(14:18):
remember that this is a really complicated system that the
washing the White House is really drawn up here, right.
I Mean, you've got what it calls these reciprocal tariffs,
the Liberation Day tariffs. That was the deadline that's now
been pushed off to August first. But then you've also
got all of these sectoral tariffs. In the case of
the United Kingdom, you know, maybe they reached a deal
with the Trump administration on some things, but there's still
this big overhang in the form of those sectoral steel tariffs,
(14:41):
for example, that is still something that needs to be
hashed out. So I would argue that even if you
do have something that they're able to work out over
the next few weeks, you know, as you mentioned, that's
still kind of a tall task. You've still got some
many things in the way of you know, potential additional
sectoral tariffs. Remember, the US Commerce Department is investigating whether
there's more that they I want to implement in those
types of tariffs. I will remind you, are I think
(15:03):
going to be quite a bit harder to challenge in
the United States than say, you know, Trump's executive order
tariffs would be. So, you know, I realized I'm talking
very quickly and I'm saying a lot, but I think
this is all just to say, this is still a
very wonky, you know, very very big process that needs
to unfold here. I wouldn't necessarily count on all of
this being wrapped up within the next three weeks.
Speaker 2 (15:23):
In just thirty seconds. What about the issue of the
president wanting to open markets to US goods is that
something that Japan and South Korea are open to.
Speaker 12 (15:32):
I mean, I think that again, really, when it comes
to Japan and South Korea, their biggest you know concerns
right now, I would argue, are really about the automotive
side of this. I mean, You've got some of the
world's biggest you know, automotive companies that are based in
Japan and South Korea, and so their sticking point with
the with the United States, I think remains trying to
figure out a way around some of those sectoral tariffs. Again,
(15:54):
I'm not really sure how much of that is actually
going to be entering into the conversation over the next
three weeks, because once again, those are somewhat different from
the reciprocal terrorists that Trump initially announced on these two countries.
But when I'm looking at them, that's really I think
where my area of focus remains.
Speaker 3 (16:09):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 2 (16:16):
Look for us on your podcast feed by six am
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Speaker 3 (16:22):
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Speaker 6 (16:37):
Plus.
Speaker 2 (16:37):
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Speaker 3 (16:42):
And don't forget to subscribe to Bloomberg News Now. It's
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platform to stay informed all day long. I'm Karen Moscow.
Speaker 2 (16:55):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg.
Speaker 9 (17:01):
Dave Ray
Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2 (00:10):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Speaker 2 (00:15):
Karen, we begin with the latest on the Global Trade Board.
President Donald Trump has unveiled a wave of letters again
threatening to impose higher tariff rates on key trading partners.
They include twenty five percent levies on goods from Japan
and South Korea, as well as tariff plans for more
than a dozen other nations, including South Africa, Indonesia, Thailand,
and Cambodia. But in a move reminiscent of previous delays,
(00:38):
the President also teased the possibility of further talks.
Speaker 4 (00:42):
I would say firm, but not one hundred percent firm.
If they call up and they say would like to
do something a different way, we're going to be open
to that. But essentially that's the way it is right now.
Speaker 2 (00:52):
President Trump spoke shortly after signing an executive order delaying
the new rates from July ninth tomorrow to August first, first.
That effectively buys countries an extra three weeks to cut
a deal with the White House.
Speaker 3 (01:05):
Meanwhile, Nathan, a day after President Trump sent out those letters.
Marco Rubio is making his first trip to Asia as
the top US diplomat. The Secretary of State is heading
to a summit in Malaysia for a gathering at the
Association of Southeast Asian Nations. Malaysia's one of the countries
that received a tariff letter yesterday.
Speaker 2 (01:22):
I meanwhile in Europe car and the EU is trying
to lock in a preliminary trade deal with the US
this week. Let's go to London get the latest of
Bloomberg's un potts you and what is the latest?
Speaker 5 (01:32):
Nathan and Karen. Trump's tariff deadline may have been delayed,
but Brussels isn't taking any chances. Bloomberg has learned the
EU is seeking a preliminary trade settlement with the US
this week that would allow it to lock in a
ten percent tariff rate beyond August first. This is a negotiate,
a more permanent agreement. We understand. The EU is also
seeking an exemption for certain key products, including aircraft and
(01:56):
aircraft parts, as well as wines and spirits. In London,
I'm ewing pots and yet all.
Speaker 3 (02:01):
Right you and thanks now to the latest in the
war in Ukraine. Just days after speaking with President Vladimir Zelenski.
President Trump says he will send more weapons to the country.
Speaker 4 (02:10):
We're going to send some more weapons. They have to
be able to defend themselves. They're getting hit very hard.
Now they're getting hit very hard. We're going to have
to send more weapons. You hat, defensive weapons primarily, but
they're getting hit very, very hard.
Speaker 3 (02:25):
President Trump's decision comes after the Pentagon halted flows of
some air defense missiles and artillery shells to Ukraine and Karen.
Speaker 2 (02:32):
It comes as President Trump hosted Israeli Prime Minister Benjamin
Natan Yahoo at the White House last night. The Israeli
leader keeped praise on the President as he pushes for
a ceasefire in Gaza.
Speaker 6 (02:42):
He's forging peace as we speak, in one country and
one region after the other. So I want to present
to you President the letter I sent to the Normal
Prize Committee. It's momenting you for the Peace Prize, which
is well deserved and you should get it. Thank you
very much.
Speaker 2 (03:01):
This I didn't know a Prime Minister Natanya who presented
President Trump with that Nobel Peace Prize nomination in the
Oval Office. The President has long sought the Nobel, He's
expressed irritation that former President Barack Obama got it before
surging troops into Afghanistan Natanya, whose visit comes weeks after
the US dropped bombs on Iran's nuclear sites. President Trump
says the US and Iran will meet soon and he's
(03:24):
open till lifting sanctions now.
Speaker 3 (03:26):
Nathan, Let's get you an update on the disaster in
Texas Hill Country. They confirmed death toll now up to
one hundred and four from the flash floods that tour
through the region over the weekend. That includes twenty seven
children and counselors from the Mystic Girls summer camp along
the Guadalupe River. Kervell, Texas Mayor Joe Hering Junior, says
there may be more heartache to come.
Speaker 2 (03:48):
Primary search continues and we remain hopeful every foot, every mile,
every bend of the river.
Speaker 3 (03:56):
And as the search effort continues, authorities are facing questions
about why the area lacked warning sirens and whether the
forecasts warned enough about the risk of catastrophic flooding. Texas
Senator Ted Crue says the focus should be on recovery.
Speaker 7 (04:10):
We will have a reasonable conversation about a are there
any ways to have earlier detection, and some of that
the limits of a flash flood. They're very difficult because
they could arise so quickly.
Speaker 3 (04:22):
Senator Ted cru says President Trump has promised to provide
any resource as the state needs for its response. The
President says he'll visit Texas on Friday.
Speaker 2 (04:31):
Well, Kron, A big change maybe coming soon to airports security.
Bloomberg News has learned the Transportation Security Administrations planning to
update its policies so travelers no longer have to remove
their shoes at standard screening checkpoints. The move would extend
a benefit that's already available for those who pay for
TSA pre check. The US would join other global aviation
hubs like the European Union, Dubai, and Singapore that do
(04:53):
not require travelers to remove their shoes.
Speaker 3 (04:56):
Nathan, let's turn to company news now, and Apple may
be facing an exodus of top talent. Let's get the
details a Bloomberg's John Tucker and John, where are they going?
Speaker 8 (05:05):
Well, Karen, A lot of them are going to meta platforms.
One of the first out the door, Rubing Pang, a
distinguished engineer and a manager in charge of the Apple
Foundation Models Team AFM Meta dangled tens of millions of
dollars a year in front of this engineer. He's going
to work for Meta's new superintelligence group. A Pang's departure
could be the start of a string of exits from AFM,
(05:27):
with several engineers telling colleagues they're planning to leave in
the near future. Tom Gunter, a top deputy to Pang,
left Apple last month. A Pang's departure the most significant
in Apple's AI ranks since the company started working on
Apple Intelligence a few years ago. Now it's not going
to help Apples push into AI, which has been described
as flailing. A Meta CEO Mark Zuckerberg has on a
(05:50):
hiring spree, bringing on major AI leaders who are going
to work directly with him. You knoww York, John Tucker,
Bloomberg Radio.
Speaker 2 (05:58):
All right, John, thank you.
Speaker 3 (05:59):
No.
Speaker 2 (05:59):
Vardes has on regulatory approval for the first medicine specifically
designed to treat malaria in babies. The drugmaker says until now,
infants with malaria were typically treated with tablets meant for
older children, but adjusted for weight. In twenty twenty three,
the World Health Organization said there were nearly six hundred
thousand malaria related deaths children under five accounted for three
(06:21):
and four of them.
Speaker 3 (06:26):
It's time now for a look at some of the
other stories making news in New York and around the world,
and for that we're joined by Bloomberg's Michael Barr Michael,
Good Morning.
Speaker 9 (06:33):
Good Morning Karen. A federal judge is ordering a Homeland
Security official to appear in court on Thursday and map
out the government's plans for Kilmar Abrego Garcia. It comes
after federal prosecutors said they would initiate deportation proceedings against
him if he is released from jail before trial on
human smuggling charges. Attorneys for Abrego Garcia requested he'd be
(06:57):
returned to Maryland from Tennessee, where he's being detained. Attorney
Simon Sandebald Motionenberg says Thursday's hearing is a sign the
judge is notably tired of hearing from prosecutors who claim
to not have information.
Speaker 7 (07:10):
If they want to deport him to a third country,
they need to name that country, and they need to
describe the process by which they're going to give him
due process.
Speaker 9 (07:19):
Attorney Motionenberg says Abrego Garcia was mistakenly deported to El Salvador.
He was living in Maryland with his wife and child,
both of whom are American citizens. The Mayor of Los
Angeles denies there was a hostile crowd threatening federal immigration
agents at MacArthur Park in LA. Approximately ninety armed National
(07:41):
Guard troops were deployed to protect ICE agents. Mayor Karen
Vass it.
Speaker 10 (07:45):
Is outrageous and Unamerican that we have federal armed vehicles
in our parks when nothing is going on in the parks.
Speaker 9 (07:56):
Meanwhile, in eighteen state court filing led by Californa YEAH
alleges that federal immigration agents are impeding on the Fourth
Amendment protection against Unreasonable search and seizure. Boston University is
cutting one hundred and twenty staff positions and one hundred
twenty vacancies to reduce spending by five percent for fiscal
(08:16):
twenty twenty six due to the Trump Administration's changes to
higher education funding. Boston University President Melissa gilliam says the
university is responding to a national renegotiation of how the
country's higher education model will be funded. Bu received five
hundred and seventy nine million dollars in research funding last year,
(08:37):
primarily from federal agencies. Global News twenty four hours a
day and whenever you want it with Bloomberg News Now,
Michael Barn, this is Bloomberg Karen.
Speaker 3 (08:48):
All right, Michael Barr, thank you time now for the
Bloombergy Sports supdate. Here's John stash Hour, John, good morning.
Speaker 1 (08:58):
Good morning. Caret quarter final begining today at Wimbledon. Two
time defending champion Carlos Alcarez takes on the brick. Cameron Noriri,
Taylor Fritz plays Karen catching off Fritz. One of two
Americans left in the men's singles. Ben Shelton's the other.
He'll face Top Seedyonick Center tomorrow Center. Yesterday played two cents,
lost them both, but won the match because Grigor Dimitrov
(09:19):
suffered an injury to his pectoral muscle and I had
to retire. Incredibly, It's the fifth consecutive Grand Slam tournament
where for various reasons that has happened to Demitrov. He
did not speak afterwards. Sinner on Center COURTD.
Speaker 11 (09:34):
It's been sun lucky in the past in a couple
of years. An incredible an incredible player, a good friend
of mine also, and we understand each other where well
off the court too, and you know seeing him in
this position, it's honestly, you know, if there would be
a chance, you know that he could play, you know,
the next round, you know he would he would deserve center.
Speaker 1 (09:55):
Also dealing with an elbow injuries having MRI today, Nick
made official naming Mike Brown their new coach. Saint in
the stated that Brown brings a championship pedigree. He has
won four NBA titles as an assistant. The next season
ended with that loss at Indiana Tyres. Halliburton then tore's
achilles in Game seven of the finals, and the Pacers
made official that Halliburton will not play at all next season.
(10:17):
The Celtics have not yet said that about their star
Jason Tatum had the same injury. In the playoffs against
the Knicks at Fenway. Red Sox beeat Colorado nine to three,
Toronto one again eight to four over the White Sox.
That's nine wins in a row. The Red Hot Blue
Jays leave the Yankees by three and a half games.
The Yanks are home tonight to play Seattle. The Mariners
are led by catcher Cal Rawley thirty five home runs,
(10:39):
so two more than Aaron Judge. They both have seventy
four RBIs Metts start a series in Baltimore. The Nationals
are in Saint Louis. The that's just fired their manager
Davey Martinez. His bench coach Miguel Cairo is taking over.
John Stashawa Bloomberg Sport.
Speaker 9 (10:54):
Karen Nathan.
Speaker 1 (10:57):
Coast to Coast on Bloomberg Radio One on Serious Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business app.
Speaker 5 (11:05):
This is Bloomberg Daybreak.
Speaker 6 (11:07):
Good morning.
Speaker 2 (11:08):
I'm Nathan Hager. President Donald Trump is putting a handful
of countries on notice that they've got about three more
weeks to reach deals or face higher teriff rates around
the level of the April second announcement. But the President
is suggesting he may still be open to negotiation around
the new August first deadline.
Speaker 4 (11:25):
I would say firm, but not one hundred percent firm.
If they call up and they say would like to
do something a different way, We're going to be open
to that.
Speaker 2 (11:33):
And that was the President speaking at a White House
dinner last night. For more were joined by Bloomberg's Jill
Deesis in Hong Kong. So, Jill, we've gotten a chance
to digest these tariff letters more than a dozen sent
out yesterday, a lot of focus on Japan and South
Korea in particular. How are those nations taking this sort
(11:54):
of reprieve when it comes to the April second tariffs?
Speaker 12 (11:57):
Good morning, Yes, good morning, Nathan. I think that's the
right way to think about it, honestly, is that it's
a bit of a reprieve. I mean, this is essentially
a delay and all. But name we were, you know,
the ninety day deadline coming up this week. Now you
not only have August first positioned as the deadline when
tariffs are going to effect, but then you've also got,
as we just heard from Trump himself there saying, you know,
(12:19):
that's not even necessarily one hundred percent. It does seem
like there's room to negotiate when it comes to Japan
in South Korea in particular. I think these have been
really really interesting countries to watch over the last several weeks,
Japan especially because there have been a lot of pretty
major sticking points with that country. A lot of this
does come down to automotive tariffs, so those tariffs on
cars and car parts. That's one thing that Trump has
(12:41):
kind of indicated that he's not willing to really compromise on.
We did hear from the Japanese Prime Minister sugar Ushiba
earlier today, you know, talking about the fact that you
know that Japan is still really interested in trying to
reach a deal, although you know it has previously avoided
making what he called easy compromises. So you do get
the sense that while Tokyo is very interested in trying
(13:03):
to move something further, it's not necessarily clear what exactly
that is going to look like, although obviously yes, they
do have some time bought. I think, you know, South Korea,
you know, we have seen some optimism there. Certainly it
does seem like Soul is interested in moving forward with something.
But again, I think really the big takeaway here is
that it doesn't really feel like we're under this extreme
(13:23):
immediate time pressure here. Maybe there is some time for
these nations to hash out for their talks with Washington, But.
Speaker 2 (13:29):
I guess the question is whether three more weeks is
enough time, given the fact that we've had more than
three months up to now.
Speaker 12 (13:36):
Well, I mean, I would also argue, first of all,
that ninety days is certainly an incredibly ambitious timescale by
which to negotiate any trade deal. Let alone you know,
up to you know, dozens upon dozens of trade deals
with countries all over the world. I think that one
way to think about this, quite frankly, is when you've
got Trump saying that not, you know, not even that
three weeks out that August first deadline is necessarily a
(13:57):
one hundred percent done firm commitment. That does indicate that,
you know, maybe maybe the White House is sitting here
thinking like, yeah, I mean, you know, some of these
things actually do take time. And it would also point
out that even if you do get something that's in
the vein of like a preliminary deal, I look at,
you know, for example, what happened with the United Kingdom
a few weeks ago, that doesn't necessarily mean that that
resolves all of the trade issues. I mean, first of all,
(14:18):
remember that this is a really complicated system that the
washing the White House is really drawn up here, right.
I Mean, you've got what it calls these reciprocal tariffs,
the Liberation Day tariffs. That was the deadline that's now
been pushed off to August first. But then you've also
got all of these sectoral tariffs. In the case of
the United Kingdom, you know, maybe they reached a deal
with the Trump administration on some things, but there's still
this big overhang in the form of those sectoral steel tariffs,
(14:41):
for example, that is still something that needs to be
hashed out. So I would argue that even if you
do have something that they're able to work out over
the next few weeks, you know, as you mentioned, that's
still kind of a tall task. You've still got some
many things in the way of you know, potential additional
sectoral tariffs. Remember, the US Commerce Department is investigating whether
there's more that they I want to implement in those
types of tariffs. I will remind you, are I think
(15:03):
going to be quite a bit harder to challenge in
the United States than say, you know, Trump's executive order
tariffs would be. So, you know, I realized I'm talking
very quickly and I'm saying a lot, but I think
this is all just to say, this is still a
very wonky, you know, very very big process that needs
to unfold here. I wouldn't necessarily count on all of
this being wrapped up within the next three weeks.
Speaker 2 (15:23):
In just thirty seconds. What about the issue of the
president wanting to open markets to US goods is that
something that Japan and South Korea are open to.
Speaker 12 (15:32):
I mean, I think that again, really, when it comes
to Japan and South Korea, their biggest you know concerns
right now, I would argue, are really about the automotive
side of this. I mean, You've got some of the
world's biggest you know, automotive companies that are based in
Japan and South Korea, and so their sticking point with
the with the United States, I think remains trying to
figure out a way around some of those sectoral tariffs. Again,
(15:54):
I'm not really sure how much of that is actually
going to be entering into the conversation over the next
three weeks, because once again, those are somewhat different from
the reciprocal terrorists that Trump initially announced on these two countries.
But when I'm looking at them, that's really I think
where my area of focus remains.
Speaker 3 (16:09):
This is Bloomberg Daybreak, your morning podcast on the stories
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Speaker 2 (16:37):
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Speaker 3 (16:42):
And don't forget to subscribe to Bloomberg News Now. It's
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Speaker 2 (16:55):
And I'm Nathan Hager. Join us again tomorrow morning for
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Speaker 9 (17:01):
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