April 28, 2025: Mark Carney Wins Canada Election, Auto Tariffs to Ease, More

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Episode Transcript

Speaker 1 (00:01):
News When you want. It's with Bloomberg News.

Speaker 2 (00:02):
Now.

Speaker 1 (00:03):
I'm Doug Chrisner. We begin with the Canadian national election.
The National Broadcasters CBC says Mark Carney has been elected
as Canada's Prime minister for a full term, with his
Liberal Party winning a fourth consecutive election. Bloomberg's David Gura
is in Ottawa.

Speaker 3 (00:20):
This is a moment that was inconceivable just a few
short months ago when Justin Trudeau was in the end
of his ten year long prime ministership. Here in Canada,
there is widespread dissatisfaction with the direction of this country,
with the economy. Justin Trudeau represented that, the Liberal Party
represented that. And then we saw this change where Mark
Carney won that Liberal leadership election and Donald Trump returned
to the White House in Washington, and that changed everything.

(00:41):
It changed the entire dialogue around the political landscape here
in Canada. So yes continued to be about the state
of the Canadian economy, about debts and deficits and a
housing shortage in this country. But was really resident were
the threats from Donald Trump that came over and over again.

Speaker 1 (00:56):
That is Bloomberg's David Gura. Meantime, President Trump is on
track to so often the impact of his auto tariffs.
We are told the President will prevent duties from foreign
made cars from stacking on top of other tariffs such
as steel and aluminum. The President would also ease some
levies on foreign auto parts used to manufacture cars in
the US. Here is Bloomberg skylar Woodhouse.

Speaker 4 (01:18):
I think what we've been hearing a lot from the
President in his administration is, you know, they've been scouting
over open the deals were in negotiations. But also what
we've heard throughout this whole Terrrist story is you know
that things are going to be maybe not as bad
as folks anticipated them to be. I mean, the President

(01:38):
has said, oh, well they'll be you know, a little
bit of pressure, but it'll still be on the more.

Speaker 1 (01:43):
Conservative And that is Bloomberg skylar Woodhouse. Now this news
comes as President Trump is preparing to travel to Michigan,
the heart of the American automobile industry. That is where
he will mark one hundred days in office. In a
second term, US Treasury Secretary Scott Best has set a
goal of July fourth to pass President Trump's multi trillion

(02:04):
dollar tax cut package. Today, Bessant and National Economic Director
Kevin Hassett met with congressional leaders to discuss the tax bill.
Patrick McHenry is former US Representative of North Carolina. He says,
the pressure is on for Congress to pass a tax bill.

Speaker 2 (02:21):
You better have this thing planned out hour by hour
between now and the fourth of July recess. That is
really what you have to expect that Congress has to
get this tax bill done by If it slips to
past July fourth, then the August recess is the backstop.
So you really have three weeks in May to actually

(02:45):
get the committee work done, and got the whole month
of June to actually get this across the House and
Center floor.

Speaker 1 (02:51):
Patrick McHenry there, He is former Congressman from North Carolina.
At the same time today, Treasury Secretary Bessant also said
the tax revenue is up compared to last year and
that may in turn delay the government hitting its legal
debt limit. He said an official estimate of the debt
sealing default date is expected later in the week or

(03:11):
next week. Russian President Vladimir Putin has declared a three
day ceasefire in the war on Ukraine to mark the
eightieth anniversary of the victory in World War II. Now,
this pause in fighting will happen between May eighth and
May tenth, and it comes after a Secretary of State,
Marco Rubio spoke yesterday with Russian Foreign Minister Sergei Lavrov.

(03:34):
Kay Bailey Hutchinson is a former US Ambassador to NATO.

Speaker 5 (03:38):
It is in everyone's interest to have as long a
ceasefire as possible so that real negotiations can go on
for a final result. That would be my instinct. Whatever
they can agree to that would be a real ceasefire
would be helpful, because, of course, the less they had

(04:01):
an agreement, Russia broke the agreement.

Speaker 1 (04:05):
Kay Bailey Hutchinson there former US Ambassador to NATO. Now
the announcement from Moscow was met with disappointment in Washington.
White House Press Secretary Caroline Levitt said President Trump wants
a permanent end to hostilities, and he's increasingly frustrated with
the leaders of both Russia and Ukraine. Meantime. In a
post on ex Ukrainian President Voladimir Zelensky said this pause

(04:28):
in fighting is another attempt of manipulation by Russia. Zelenski
said there is no reason to wait for a ceasefire
until May eighth. We go next to New York State,
where Governor Kathy Hokeel announced a record two hundred and
fifty four billion dollar budget deal with lawmakers and this
ends a month's long stalemate. Hokeel said the budget will
increase public safety and improve affordability in New York. Here

(04:52):
is Hokul speaking at a press conference.

Speaker 6 (04:55):
We're still meeting the needs of New Yorkers and delivering
results for all of them, with Maya, Oh John that
we're putting nearly five thousand dollars back in your pockets
and making our streets and subways safer. That's what this
budget is all about.

Speaker 1 (05:09):
That was New York Governor Kathy Hokeel speaking. There. By
the way, this budget deal will now go to the
New York Legislature for a full vote. And that is
news when you want it. With Bloomberg News now, I'm
Doug Chrisner and this is Bloomberg