October 15, 2025 • 14 mins
On today's podcast:
1) President Trump said he might stop trade in cooking oil with China, injecting fresh tensions into the relationship between the world’s two largest economies. Trump on Tuesday cast the potential move as retaliation against Beijing for its refusal to buy American soybeans, which he said “is an Economically Hostile Act” that is purposefully “causing difficulty for our Soybean Farmers.” China remains well supplied with the oilseed, largely thanks to South American purchases.
2) President Trump pledged to release a list of federal programs slated for cuts later this week, the White House’s latest threat to slash the federal bureaucracy and put pressure on Democrats to end the impasse over the shutdown. The threat is the latest effort from the White House to make the shutdown — now in its 14th day — as painful as possible for Democrats. It also marks another end-run by the administration around Congress, which determines how federal funds are spent. The White House has already terminated more than 4,000 federal workers and suspended funding for clean energy and transportation programs in Democratic-run states, escalating the standoff with Democrats.
3) Federal Reserve Chair Jerome Powell signaled the central bank may stop shrinking its balance sheet in the coming months, an important shift necessary to preserve liquidity in overnight funding markets. The Fed chair also indicated labor-market prospects continue to worsen, a message that supports investors’ expectations for another interest-rate cut this month. Fed officials have been winding down the central bank’s balance sheet since 2022 — a process known as quantitative tightening — reversing trillions of dollars of asset purchases designed to stimulate the economy after the pandemic struck. Earlier this year, the Fed slowed the pace by reducing the amount of bond holdings it lets roll off every month.
See omnystudio.com/listener for privacy information.
Mark as Played
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 (00:09):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we begin with the latest developments in the trade war.
President Donald Trump says he might stop trade in cooking
oil with China. The President posted on social media that
the US can easily produce it itself and does not
need to purchase it from China. That says China plans
to impose new export restrictions on rare earth metals, and
(00:35):
despite the latest flare up, both countries are set to
meet for further trade talks ahead of a November one
deadline for one hundred percent US tariffs on Chinese goods.
Bloomberg Balance of Power hosts Joe Matthew has more from Washington.
Speaker 4 (00:48):
Guys.
Speaker 5 (00:48):
I don't know if this is going to be the
path to a deal with China. The President is supposed
to sit down with Shijinping in just a couple of
weeks at the APEX summit in Korea. The administration, by
way of the Treasury Secor Harry's still.
Speaker 6 (01:00):
Saying that that meeting is on.
Speaker 5 (01:02):
And we heard from ust our Career today saying they
even have a time. We haven't seen that publicly, but
they have a time to meet and that has not
changed yet.
Speaker 6 (01:10):
Bloomberg Balance of Power hosts Joe Matthew.
Speaker 3 (01:12):
Both the President and Trade Representative Jamison Grier have expressed
confidence that friction with China will ease through negotiations.
Speaker 2 (01:19):
Now, let's get to the latest on the government shutdown, Nathan.
It's day fifteen of the spending fight on Capitol Hill
and President Trump is renewing his threat to cut federal programs.
He says he'll have a list of priorities headed for
the shopping block this Friday.
Speaker 7 (01:33):
We're closing up programs that are Democrat programs that we
wanted to close up, or that we never wanted to happen,
and now we're closing them up, and we're not going
to let him come back. The Democrats are getting.
Speaker 2 (01:48):
Killed, President Trump spoke during a meeting with Argentinian President
Javier Malay at the White House. Meantime, members of the
military are set to miss their first paychecks today. House
Minority Leader Hockey M. Jefferies is in sisting Republicans need
to negotiate on democrats healthcare demands.
Speaker 8 (02:04):
We also need to make sure that we take care
of all of our hardworking federal civil servants, which is
why Republicans should be back here in Washington working with
us to reopen the government.
Speaker 2 (02:16):
House Minority Leader Honking Jeffrey spoke on Capitol Hill. President
Trump has directed the Defense Department to divert unspent research
funds to pay the troops. House Speaker Mike Johnson has
said he is the right to do that without congressional
approval and.
Speaker 6 (02:30):
As the government shut down. Lingers on Karen.
Speaker 3 (02:32):
Massachusetts Democratic Senator Elizabeth Warren is criticizing President Trump over
his decision to allocate twenty billion dollars in taxpayer funds
to Argentina.
Speaker 6 (02:41):
Warren spoke on Bloomberg's Bounce of Power.
Speaker 9 (02:44):
Let me get this straight. Argentina hurts American farmers, and
the President of the United States responds by giving twenty
billion dollars to Argentina, plus Secretary best saying and a
blank checks they need more.
Speaker 6 (03:01):
That's Massachusetts Senator Elizabeth Warren.
Speaker 3 (03:03):
Now, President Trump is suggesting the twenty billion dollar lifeline
could be contingent on Libertarian leader jave Or Malay's success
in Argentina's midterm elections. You can catch our full interview
with Senator Warren on the Bloomberg Podcast channel on YouTube.
Speaker 2 (03:18):
Nathan, let's get to the latest. Now in the Middle East,
the Israeli military now says one of the four bodies
handed over by Hamas yesterday is not that of a hostage.
It comes as an Israeli military agency also says it
would have the number of trucks allowed to bring humanitarian
aid into Gaza over concerns that the militant group was
returning the remains more slowly than agreed meantime, President Trump
(03:41):
demanded that Hamas return the bodies of deceased hostages. President
Trump threatened the militant group with retaliation if it does
not lay down its arms.
Speaker 7 (03:49):
We have told them we want disarmed, and they will disarm.
Speaker 6 (03:55):
And if they don't diss we will disarm them.
Speaker 7 (03:57):
And it'll happen quickly and perhap aps violently, but they
will disarmed.
Speaker 10 (04:02):
You understand me.
Speaker 2 (04:03):
President Trump says the disarmament would have to occurred within
quote a reasonable period of time.
Speaker 3 (04:09):
Well, Karen, we're watching stocks in France this morning. They're
up two point four percent. That's after French Prime Minister
Sebastian Lacorneo won the backing of the Socialist Party, boosting
his chances of surviving two no confidence votes set for tomorrow,
also boosting French shares. An earnings beat from Paris based LVMH,
the owner of Louis Vuitton and Christian do Your unexpectedly
(04:31):
returned to sales growth in the third quarter. It suggests
a slump in luxury demand is easing and shares of
LVMH right now are up nearly fourteen percent and.
Speaker 2 (04:42):
Return to the markets now Nathan where futures are higher.
On optimism over raid cuts, yesterday, FED chair J. Powell
reinforced bets and a cut later this month. Given a
weakening labor market.
Speaker 10 (04:52):
For the last few months, we've been able to maintain
our strictive stance because the labor market was still pretty solid.
I think that the data we got right after the
July meeting showed that which adjusted back all the way
through May, showed that the labor market has actually softened
pretty considerably and puts us in a situation where the
two risks are closer to being at balance.
Speaker 6 (05:14):
FED J. J.
Speaker 2 (05:14):
Powell made the comments yesterday at the National Association for
Business economics in Philadelphia. The fed's next rate decision is
two weeks from today. JP Morgan Chase CEO Jamie Diamond
says he will offer to help zoorn Mom Donnie if
Mondamie becomes the next mayor of New York City and
we get more with Bloomberg's John Tucker.
Speaker 11 (05:33):
Talk about strange Bedfellows. Diamond is head of the biggest
US bank. Mom Donnie is the socialist candidate and Democratic
front runner. Should Mom Donny win the mayor's race, Diamond
says he will offer to help. As he put it,
I have to deal with the world I got, you know,
not the world I want. And if he becomes mayor,
so be it. Mam Donnie has already held several sitdowns
or private phone calls with executives in New York, including Diamond,
(05:56):
as part of a charm offensive. Diamond, who previously referred
to Mom Donnie is more of a Marxist than a socialist,
so that it's important for business leaders or in odds
with local officials to get involved in grow up. He
also added that it's odd to have the bashion of
American capitalism with a socialists getting that job in New
Yorkome John Tucker Bloomberg Radio.
Speaker 2 (06:19):
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 4 (06:27):
Good Morning, Karen. A group of House Democrats marched into
Speaker Mike Johnson's office on Capitol Hill Tuesday afternoon, demanding
that he's swearing Representative elect out of Leader Grahava, a
Democrat from Arizona. Johnson was not there. It comes as
to push for a full release of the Epstein files
is stalled because of the government shutdown. Grahava would be
(06:49):
the final signature needed to force a House floor vote
on the release of the Epstein files, but Republicans have
chosen to keep the House out of session, delaying or
swearing in Presentative elect Grivahava spoke in front of the
Speaker's office.
Speaker 2 (07:04):
I have not had one word from Speaker Johnson, not
one word, and we sent a letter.
Speaker 6 (07:11):
Now our Attorney.
Speaker 12 (07:12):
General is getting involved because this is taxation without representative.
Speaker 4 (07:17):
Rey Havas says, if she were a Republican, she would
have already been sworn in. MGM Resorts International pulled out
of the competition to operate a casino in the New
York area due to shifting economic and competitive conditions. Three
companies are still in the running to operate casinos in
New York. President Donald Trump posthumously awarded conservative activist Charlie
(07:38):
Kirk the nation's highest civilian honor, the Presidential Medal of Freedom.
President Trump at the Rose Garden ceremony, We're.
Speaker 7 (07:45):
Here to honor and remember a fearless warrior for liberty,
beloved leader who galvanized the next generation like nobody I've
ever seen before.
Speaker 4 (07:56):
Kirk was fatally shot on September tenth while speaking at
Utah Valley University on the first stop of his The
American Comeback Tour. Global News twenty four hours a day
and whenever you want it with Bloomberg News Now. Michael Barr,
this is Bloomberg Heren.
Speaker 2 (08:11):
Thanks Michael time now for our Bloomberg Sports update, and
for that we bring in John stash Hour.
Speaker 13 (08:17):
Thanks Karen brilliant starting pitching as lift of the LA
Dodgers to a two to nothing lead in the NLCS
the night after Blake Snell went eight innings, allowed only
one hit, Yashinobu Yamamoto went nine innings gave up just
three hits. The Dodgers won five to one in Milwaukee.
They go home up to nothing in the series. Game
three of the ALCS. Tonight in Seattle, the Mariners lead
(08:37):
Toronto two games to nine. Edmundton oiler is a two
to nothing shut out of the Rangers, who are the
first team ever to get shut out in each of
their first three home games to start a season. That's
a Bloomberg Sports update.
Speaker 6 (08:49):
Stay with us.
Speaker 2 (08:49):
More from Bloomberg day Break coming up after this.
Speaker 1 (08:56):
Coast to coast on Bloomberg Radio nationwide, Serious exam and
around the world on Bloomberg dot Com and the Bloomberg
Business app. This is Bloomberg Daybreak.
Speaker 3 (09:07):
Good morning, I'm Nathan Hager. Cooking oil is now heating
up US China trade tensions. President Trump's threatening to stop
buying it from China because Beijing isn't buying soybeans from America.
It's rattling the market, even as US Trader Representative Jamison
Greer saying things will work out between the world's two
biggest economies.
Speaker 2 (09:25):
There's always some level of dramatics to it, where they
will you know, if we take measures, you know, little
measures here, and they they'll threaten to bring down hell
fire and things like that.
Speaker 6 (09:34):
That was US Trade Rep.
Speaker 3 (09:36):
Jamison Greer on SANDBC before the president's latest trade salvo.
For more were joined by Bloomberg News Chief Asia correspondent
Rosalind Matheson and Roz. We've talked before about the US
and China positioning, have trade talks expected later this month?
Speaker 6 (09:50):
How did cooking oil get caught in the middle? Good morning,
Good morning.
Speaker 12 (09:54):
Well, yes, it's now moved from shipping to cooking oil,
it seems. And Donald Trump, as you was saying, using
that to say that he might retaliate for what he
sees as Beijing's refusal to buy American soybeans. The interesting
thing in all of this is that cooking oil is
actually only a very small import for China. Only a
(10:15):
small amount of cooking oil does come in from China
to the US in terms of specifically just how much
soybeans China has, you know, typically imported from the US.
So it's a bit of an asymmetrical thing to come
at in terms of Donald Trump's comments overnight, because again
soybean's far Outwait, whatever the US brings in when it
(10:36):
comes to processed food all. But it's just now the
sign of how broad and complex these trade tensions are.
So we've gone from you know, rare earths and high
tech and chips, to shipping to soy and now to
cooking oil. And obviously there are other aspects of the
trade relationship potentially to come. And is this again simply
(10:57):
positioning before a potential meeting between Queen Cjmping and Donald Trump.
We do know from US officials at least that the
lines of communication are open. I mean, Jamison Greer said
that as well, that there was a meeting as recently
as Monday between some unnamed US and Chinese officials, so
they are at least talking to each other. The question is,
(11:17):
in all of this tit for tat that's going on,
desire the country overstep in a way that puts the
other country in a difficult spot and makes a meeting
impossible for Trump and Seed to agree to.
Speaker 3 (11:30):
Do we know anything further ras about what's come out
of those talks that the Trump administration has talked about
this week, other than the idea that they are still talking, No,
we know very.
Speaker 12 (11:41):
Little about those conversations and again we don't even know
from Jameson Greer who was involved in that conversation that
potentially happened at the start of this week. We also
know that the US Treasury Secretary, Scott Besson said that
he was expecting to meet the Chinese Vice president one
more time before the end of the month. Is this
about trying to get the foundations for Sieging Ping and
(12:05):
Donald Trump to sit in a room and come out
with something, either extension of the trade truth that they've
got or something more tangible and lasting. And it seems
to be that they're obviously trying to clear the pathway
through all these different tension points to get there, but
we have very little sense so far of what exactly
those conversations have been like.
Speaker 3 (12:25):
Well, that raises the question then about whether all these
threats are just that threats, or whether we could see
something concrete in terms of shifting purchases or even that
thread of one hundred percent tariffs on Chinese imports on
November first? Is November one the next tipping point here?
We got about a minute left.
Speaker 12 (12:44):
Potentially, and obviously a lot would depend on that meeting
and what comes out of it and how much they
use their personal rapport with each other to come to
an agreement. But you know, you've got Sieging Ping who's
got a lot at stake at home with his economy,
versus Donald Trump, who can be quite impulsive in the
minute in announcing things or deciding things, and we've seen
that before, and he can also change his mind very quickly.
(13:07):
So that does inject a high level of uncertainty into
this into this meeting. Does Trump just feel in the
minute he's not got what he wanted and so he
slaps extra tariffs on It's very hard to say, but
certainly this climate of constant you know, tit for tat
action and threats against each other is not conducive to
going into it to a meeting where you're hoping to
get some kind of tangible outcome.
Speaker 2 (13:30):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (13:36):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or manywhere else you listen.
Speaker 2 (13:42):
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 (13:57):
Plus listen coast to coast on the Bloomberg Business Now
with Apple CarPlay and Android auto interfaces.
Speaker 2 (14:03):
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 on your favorite podcast
platform to stay informed all day long.
Speaker 6 (14:14):
I'm Karen Moscow and I'm Nathan Hager.
Speaker 3 (14:17):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg.
Speaker 6 (14:21):
Dabray
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:09):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we begin with the latest developments in the trade war.
President Donald Trump says he might stop trade in cooking
oil with China. The President posted on social media that
the US can easily produce it itself and does not
need to purchase it from China. That says China plans
to impose new export restrictions on rare earth metals, and
(00:35):
despite the latest flare up, both countries are set to
meet for further trade talks ahead of a November one
deadline for one hundred percent US tariffs on Chinese goods.
Bloomberg Balance of Power hosts Joe Matthew has more from Washington.
Speaker 4 (00:48):
Guys.
Speaker 5 (00:48):
I don't know if this is going to be the
path to a deal with China. The President is supposed
to sit down with Shijinping in just a couple of
weeks at the APEX summit in Korea. The administration, by
way of the Treasury Secor Harry's still.
Speaker 6 (01:00):
Saying that that meeting is on.
Speaker 5 (01:02):
And we heard from ust our Career today saying they
even have a time. We haven't seen that publicly, but
they have a time to meet and that has not
changed yet.
Speaker 6 (01:10):
Bloomberg Balance of Power hosts Joe Matthew.
Speaker 3 (01:12):
Both the President and Trade Representative Jamison Grier have expressed
confidence that friction with China will ease through negotiations.
Speaker 2 (01:19):
Now, let's get to the latest on the government shutdown, Nathan.
It's day fifteen of the spending fight on Capitol Hill
and President Trump is renewing his threat to cut federal programs.
He says he'll have a list of priorities headed for
the shopping block this Friday.
Speaker 7 (01:33):
We're closing up programs that are Democrat programs that we
wanted to close up, or that we never wanted to happen,
and now we're closing them up, and we're not going
to let him come back. The Democrats are getting.
Speaker 2 (01:48):
Killed, President Trump spoke during a meeting with Argentinian President
Javier Malay at the White House. Meantime, members of the
military are set to miss their first paychecks today. House
Minority Leader Hockey M. Jefferies is in sisting Republicans need
to negotiate on democrats healthcare demands.
Speaker 8 (02:04):
We also need to make sure that we take care
of all of our hardworking federal civil servants, which is
why Republicans should be back here in Washington working with
us to reopen the government.
Speaker 2 (02:16):
House Minority Leader Honking Jeffrey spoke on Capitol Hill. President
Trump has directed the Defense Department to divert unspent research
funds to pay the troops. House Speaker Mike Johnson has
said he is the right to do that without congressional
approval and.
Speaker 6 (02:30):
As the government shut down. Lingers on Karen.
Speaker 3 (02:32):
Massachusetts Democratic Senator Elizabeth Warren is criticizing President Trump over
his decision to allocate twenty billion dollars in taxpayer funds
to Argentina.
Speaker 6 (02:41):
Warren spoke on Bloomberg's Bounce of Power.
Speaker 9 (02:44):
Let me get this straight. Argentina hurts American farmers, and
the President of the United States responds by giving twenty
billion dollars to Argentina, plus Secretary best saying and a
blank checks they need more.
Speaker 6 (03:01):
That's Massachusetts Senator Elizabeth Warren.
Speaker 3 (03:03):
Now, President Trump is suggesting the twenty billion dollar lifeline
could be contingent on Libertarian leader jave Or Malay's success
in Argentina's midterm elections. You can catch our full interview
with Senator Warren on the Bloomberg Podcast channel on YouTube.
Speaker 2 (03:18):
Nathan, let's get to the latest. Now in the Middle East,
the Israeli military now says one of the four bodies
handed over by Hamas yesterday is not that of a hostage.
It comes as an Israeli military agency also says it
would have the number of trucks allowed to bring humanitarian
aid into Gaza over concerns that the militant group was
returning the remains more slowly than agreed meantime, President Trump
(03:41):
demanded that Hamas return the bodies of deceased hostages. President
Trump threatened the militant group with retaliation if it does
not lay down its arms.
Speaker 7 (03:49):
We have told them we want disarmed, and they will disarm.
Speaker 6 (03:55):
And if they don't diss we will disarm them.
Speaker 7 (03:57):
And it'll happen quickly and perhap aps violently, but they
will disarmed.
Speaker 10 (04:02):
You understand me.
Speaker 2 (04:03):
President Trump says the disarmament would have to occurred within
quote a reasonable period of time.
Speaker 3 (04:09):
Well, Karen, we're watching stocks in France this morning. They're
up two point four percent. That's after French Prime Minister
Sebastian Lacorneo won the backing of the Socialist Party, boosting
his chances of surviving two no confidence votes set for tomorrow,
also boosting French shares. An earnings beat from Paris based LVMH,
the owner of Louis Vuitton and Christian do Your unexpectedly
(04:31):
returned to sales growth in the third quarter. It suggests
a slump in luxury demand is easing and shares of
LVMH right now are up nearly fourteen percent and.
Speaker 2 (04:42):
Return to the markets now Nathan where futures are higher.
On optimism over raid cuts, yesterday, FED chair J. Powell
reinforced bets and a cut later this month. Given a
weakening labor market.
Speaker 10 (04:52):
For the last few months, we've been able to maintain
our strictive stance because the labor market was still pretty solid.
I think that the data we got right after the
July meeting showed that which adjusted back all the way
through May, showed that the labor market has actually softened
pretty considerably and puts us in a situation where the
two risks are closer to being at balance.
Speaker 6 (05:14):
FED J. J.
Speaker 2 (05:14):
Powell made the comments yesterday at the National Association for
Business economics in Philadelphia. The fed's next rate decision is
two weeks from today. JP Morgan Chase CEO Jamie Diamond
says he will offer to help zoorn Mom Donnie if
Mondamie becomes the next mayor of New York City and
we get more with Bloomberg's John Tucker.
Speaker 11 (05:33):
Talk about strange Bedfellows. Diamond is head of the biggest
US bank. Mom Donnie is the socialist candidate and Democratic
front runner. Should Mom Donny win the mayor's race, Diamond
says he will offer to help. As he put it,
I have to deal with the world I got, you know,
not the world I want. And if he becomes mayor,
so be it. Mam Donnie has already held several sitdowns
or private phone calls with executives in New York, including Diamond,
(05:56):
as part of a charm offensive. Diamond, who previously referred
to Mom Donnie is more of a Marxist than a socialist,
so that it's important for business leaders or in odds
with local officials to get involved in grow up. He
also added that it's odd to have the bashion of
American capitalism with a socialists getting that job in New
Yorkome John Tucker Bloomberg Radio.
Speaker 2 (06:19):
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 4 (06:27):
Good Morning, Karen. A group of House Democrats marched into
Speaker Mike Johnson's office on Capitol Hill Tuesday afternoon, demanding
that he's swearing Representative elect out of Leader Grahava, a
Democrat from Arizona. Johnson was not there. It comes as
to push for a full release of the Epstein files
is stalled because of the government shutdown. Grahava would be
(06:49):
the final signature needed to force a House floor vote
on the release of the Epstein files, but Republicans have
chosen to keep the House out of session, delaying or
swearing in Presentative elect Grivahava spoke in front of the
Speaker's office.
Speaker 2 (07:04):
I have not had one word from Speaker Johnson, not
one word, and we sent a letter.
Speaker 6 (07:11):
Now our Attorney.
Speaker 12 (07:12):
General is getting involved because this is taxation without representative.
Speaker 4 (07:17):
Rey Havas says, if she were a Republican, she would
have already been sworn in. MGM Resorts International pulled out
of the competition to operate a casino in the New
York area due to shifting economic and competitive conditions. Three
companies are still in the running to operate casinos in
New York. President Donald Trump posthumously awarded conservative activist Charlie
(07:38):
Kirk the nation's highest civilian honor, the Presidential Medal of Freedom.
President Trump at the Rose Garden ceremony, We're.
Speaker 7 (07:45):
Here to honor and remember a fearless warrior for liberty,
beloved leader who galvanized the next generation like nobody I've
ever seen before.
Speaker 4 (07:56):
Kirk was fatally shot on September tenth while speaking at
Utah Valley University on the first stop of his The
American Comeback Tour. Global News twenty four hours a day
and whenever you want it with Bloomberg News Now. Michael Barr,
this is Bloomberg Heren.
Speaker 2 (08:11):
Thanks Michael time now for our Bloomberg Sports update, and
for that we bring in John stash Hour.
Speaker 13 (08:17):
Thanks Karen brilliant starting pitching as lift of the LA
Dodgers to a two to nothing lead in the NLCS
the night after Blake Snell went eight innings, allowed only
one hit, Yashinobu Yamamoto went nine innings gave up just
three hits. The Dodgers won five to one in Milwaukee.
They go home up to nothing in the series. Game
three of the ALCS. Tonight in Seattle, the Mariners lead
(08:37):
Toronto two games to nine. Edmundton oiler is a two
to nothing shut out of the Rangers, who are the
first team ever to get shut out in each of
their first three home games to start a season. That's
a Bloomberg Sports update.
Speaker 6 (08:49):
Stay with us.
Speaker 2 (08:49):
More from Bloomberg day Break coming up after this.
Speaker 1 (08:56):
Coast to coast on Bloomberg Radio nationwide, Serious exam and
around the world on Bloomberg dot Com and the Bloomberg
Business app. This is Bloomberg Daybreak.
Speaker 3 (09:07):
Good morning, I'm Nathan Hager. Cooking oil is now heating
up US China trade tensions. President Trump's threatening to stop
buying it from China because Beijing isn't buying soybeans from America.
It's rattling the market, even as US Trader Representative Jamison
Greer saying things will work out between the world's two
biggest economies.
Speaker 2 (09:25):
There's always some level of dramatics to it, where they
will you know, if we take measures, you know, little
measures here, and they they'll threaten to bring down hell
fire and things like that.
Speaker 6 (09:34):
That was US Trade Rep.
Speaker 3 (09:36):
Jamison Greer on SANDBC before the president's latest trade salvo.
For more were joined by Bloomberg News Chief Asia correspondent
Rosalind Matheson and Roz. We've talked before about the US
and China positioning, have trade talks expected later this month?
Speaker 6 (09:50):
How did cooking oil get caught in the middle? Good morning,
Good morning.
Speaker 12 (09:54):
Well, yes, it's now moved from shipping to cooking oil,
it seems. And Donald Trump, as you was saying, using
that to say that he might retaliate for what he
sees as Beijing's refusal to buy American soybeans. The interesting
thing in all of this is that cooking oil is
actually only a very small import for China. Only a
(10:15):
small amount of cooking oil does come in from China
to the US in terms of specifically just how much
soybeans China has, you know, typically imported from the US.
So it's a bit of an asymmetrical thing to come
at in terms of Donald Trump's comments overnight, because again
soybean's far Outwait, whatever the US brings in when it
(10:36):
comes to processed food all. But it's just now the
sign of how broad and complex these trade tensions are.
So we've gone from you know, rare earths and high
tech and chips, to shipping to soy and now to
cooking oil. And obviously there are other aspects of the
trade relationship potentially to come. And is this again simply
(10:57):
positioning before a potential meeting between Queen Cjmping and Donald Trump.
We do know from US officials at least that the
lines of communication are open. I mean, Jamison Greer said
that as well, that there was a meeting as recently
as Monday between some unnamed US and Chinese officials, so
they are at least talking to each other. The question is,
(11:17):
in all of this tit for tat that's going on,
desire the country overstep in a way that puts the
other country in a difficult spot and makes a meeting
impossible for Trump and Seed to agree to.
Speaker 3 (11:30):
Do we know anything further ras about what's come out
of those talks that the Trump administration has talked about
this week, other than the idea that they are still talking, No,
we know very.
Speaker 12 (11:41):
Little about those conversations and again we don't even know
from Jameson Greer who was involved in that conversation that
potentially happened at the start of this week. We also
know that the US Treasury Secretary, Scott Besson said that
he was expecting to meet the Chinese Vice president one
more time before the end of the month. Is this
about trying to get the foundations for Sieging Ping and
(12:05):
Donald Trump to sit in a room and come out
with something, either extension of the trade truth that they've
got or something more tangible and lasting. And it seems
to be that they're obviously trying to clear the pathway
through all these different tension points to get there, but
we have very little sense so far of what exactly
those conversations have been like.
Speaker 3 (12:25):
Well, that raises the question then about whether all these
threats are just that threats, or whether we could see
something concrete in terms of shifting purchases or even that
thread of one hundred percent tariffs on Chinese imports on
November first? Is November one the next tipping point here?
We got about a minute left.
Speaker 12 (12:44):
Potentially, and obviously a lot would depend on that meeting
and what comes out of it and how much they
use their personal rapport with each other to come to
an agreement. But you know, you've got Sieging Ping who's
got a lot at stake at home with his economy,
versus Donald Trump, who can be quite impulsive in the
minute in announcing things or deciding things, and we've seen
that before, and he can also change his mind very quickly.
(13:07):
So that does inject a high level of uncertainty into
this into this meeting. Does Trump just feel in the
minute he's not got what he wanted and so he
slaps extra tariffs on It's very hard to say, but
certainly this climate of constant you know, tit for tat
action and threats against each other is not conducive to
going into it to a meeting where you're hoping to
get some kind of tangible outcome.
Speaker 2 (13:30):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (13:36):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or manywhere else you listen.
Speaker 2 (13:42):
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 (13:57):
Plus listen coast to coast on the Bloomberg Business Now
with Apple CarPlay and Android auto interfaces.
Speaker 2 (14:03):
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 on your favorite podcast
platform to stay informed all day long.
Speaker 6 (14:14):
I'm Karen Moscow and I'm Nathan Hager.
Speaker 3 (14:17):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg.
Speaker 6 (14:21):
Dabray
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.