July 10, 2025 • 4 mins
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Speaker 1 (00:01):
News when you wanted with Bloomberg News. Now, I'm Doug Prisner.
We begin with President Trump's attempt to limit birthright citizenship.
It's been blocked once again by a federal court. A
judge in New Hampshire has granted a preliminary injunction against
enforcement of Trump's order while the case proceeds, and at
the same time, the judge agreed to provisionally certify the
(00:22):
case as a class action lawsuit representing all affected babies
and parents. Here is Jonathan Adler, Professor at William and
Mary Law School.
Speaker 2 (00:32):
The judge identified a particular class of similarly situated parties
that are to be affected by this executive order in
the same way, and you know it's in the same
time frame. It is at least a more direct and
legally grounded way of joining what the federal government has
(00:53):
said it's going to do than the use of a
so called universal injunction.
Speaker 1 (00:58):
That is Jonathan Adler, Professor at William and Mary Law School.
President Trump is planning to impose blanket tariffs of either
fifteen or twenty percent on most US trading partners. Now,
those blanket tariffs are currently set at ten percent. Speaking
tonight to NBC News, Trump dismissed concerns that further tariffs
could negatively affect the stock market or drive inflation higher. Separately,
(01:21):
in a post untruth social Trump said the US will
impose a tariff of thirty five percent on Canadian products
beginning August first. Meantime, a US official said Trump is
set to keep the tariff exemption for all goods compliant
with the US MCA. Here is Bloomberg's Jill deesis.
Speaker 3 (01:39):
This USMCA that the trade agreement between the US and
Canada and Mexico, that those goods aren't included in this
thirty five percent tariff threat. I think that's really really
important because what that ultimately tells us, then, is that
what Trump's ultimately doing. It appears, and again I have
to caution this is a very quickly evolving story, but
what that does mean potentially is that this is essentially
(02:02):
a ten percent tariff increase over a group of goods
that were covered already with a twenty five percent tariff.
Speaker 1 (02:08):
That was Bloomberg's Jill Deesis. In that same NBC interview,
Trump said he's planning to make a major statement on Russia.
It will happen on Monday. He also said he's expecting
the Senate to pass a tougher sanctions bill regarding Russia.
Earlier today, Secretary of State Marco Rubio met with Russia's
Foreign Minister Sergei Lavrov on the sidelines of a gathering
(02:29):
of Southeast Asian nations in Malaysia, and Rubio said Trump
is not happy with a lack of progress toward peace
talks between Russia and Ukraine. Look, the present's been pretty clear.
He's disappointed and frustrated that there's not been more a
flexibility on the Russian side to bring about an end
to this conflict. That was Secretary of State Marco Rubio
speaking there. His remarks, by the way, came as Russia
(02:52):
launched a new barrage of drone and missile strikes on
the Ukrainian capital of Kiev. Meantime, the State Department ANNOW
bounced plans today to lay off some US based diplomats
and other employees.
Speaker 2 (03:04):
Now.
Speaker 1 (03:04):
That move comes after the Supreme Court rule that the
Trump administration can go ahead with plans to cut the
size of the federal workforce. Here is State Department spokesperson
Tammy Bruce. It will happen quickly. This is not going
to be an extended wait for people who are listening
and watching in this building or film Americans at home
(03:25):
and around the world.
Speaker 2 (03:26):
This will happen quickly.
Speaker 1 (03:27):
That is State Department spokesperson Tammy Bruce there speaking on
those job cuts. US equities are once again trading at
record highs. That story from Bloomberg's Charlie Pellett.
Speaker 4 (03:37):
The S and P five hundred index now stands at
sixty to eighty, barely taking out the previous record on
July third. Emily Rowland is co chief investment Officer at
JH Investments.
Speaker 5 (03:49):
Earnings have been great S and P five hundred and
thirteen percent last quarter. Analysts are estimating about five percent
in Q two, So the bars lower that's a great thing.
Speaker 4 (04:00):
Are caught up in a mix of sometimes contradictory risks
surrounding the tariff rollout, fiscal policy, and the outlook for
the Federal Reserve in New York. Charlie Bloomberg Radio, and
that is.
Speaker 1 (04:11):
News when you want it with Bloomberg News. Now, I'm
Doug Chrisener, and this is Bloomberg
News when you wanted with Bloomberg News. Now, I'm Doug Prisner.
We begin with President Trump's attempt to limit birthright citizenship.
It's been blocked once again by a federal court. A
judge in New Hampshire has granted a preliminary injunction against
enforcement of Trump's order while the case proceeds, and at
the same time, the judge agreed to provisionally certify the
(00:22):
case as a class action lawsuit representing all affected babies
and parents. Here is Jonathan Adler, Professor at William and
Mary Law School.
Speaker 2 (00:32):
The judge identified a particular class of similarly situated parties
that are to be affected by this executive order in
the same way, and you know it's in the same
time frame. It is at least a more direct and
legally grounded way of joining what the federal government has
(00:53):
said it's going to do than the use of a
so called universal injunction.
Speaker 1 (00:58):
That is Jonathan Adler, Professor at William and Mary Law School.
President Trump is planning to impose blanket tariffs of either
fifteen or twenty percent on most US trading partners. Now,
those blanket tariffs are currently set at ten percent. Speaking
tonight to NBC News, Trump dismissed concerns that further tariffs
could negatively affect the stock market or drive inflation higher. Separately,
(01:21):
in a post untruth social Trump said the US will
impose a tariff of thirty five percent on Canadian products
beginning August first. Meantime, a US official said Trump is
set to keep the tariff exemption for all goods compliant
with the US MCA. Here is Bloomberg's Jill deesis.
Speaker 3 (01:39):
This USMCA that the trade agreement between the US and
Canada and Mexico, that those goods aren't included in this
thirty five percent tariff threat. I think that's really really
important because what that ultimately tells us, then, is that
what Trump's ultimately doing. It appears, and again I have
to caution this is a very quickly evolving story, but
what that does mean potentially is that this is essentially
(02:02):
a ten percent tariff increase over a group of goods
that were covered already with a twenty five percent tariff.
Speaker 1 (02:08):
That was Bloomberg's Jill Deesis. In that same NBC interview,
Trump said he's planning to make a major statement on Russia.
It will happen on Monday. He also said he's expecting
the Senate to pass a tougher sanctions bill regarding Russia.
Earlier today, Secretary of State Marco Rubio met with Russia's
Foreign Minister Sergei Lavrov on the sidelines of a gathering
(02:29):
of Southeast Asian nations in Malaysia, and Rubio said Trump
is not happy with a lack of progress toward peace
talks between Russia and Ukraine. Look, the present's been pretty clear.
He's disappointed and frustrated that there's not been more a
flexibility on the Russian side to bring about an end
to this conflict. That was Secretary of State Marco Rubio
speaking there. His remarks, by the way, came as Russia
(02:52):
launched a new barrage of drone and missile strikes on
the Ukrainian capital of Kiev. Meantime, the State Department ANNOW
bounced plans today to lay off some US based diplomats
and other employees.
Speaker 2 (03:04):
Now.
Speaker 1 (03:04):
That move comes after the Supreme Court rule that the
Trump administration can go ahead with plans to cut the
size of the federal workforce. Here is State Department spokesperson
Tammy Bruce. It will happen quickly. This is not going
to be an extended wait for people who are listening
and watching in this building or film Americans at home
(03:25):
and around the world.
Speaker 2 (03:26):
This will happen quickly.
Speaker 1 (03:27):
That is State Department spokesperson Tammy Bruce there speaking on
those job cuts. US equities are once again trading at
record highs. That story from Bloomberg's Charlie Pellett.
Speaker 4 (03:37):
The S and P five hundred index now stands at
sixty to eighty, barely taking out the previous record on
July third. Emily Rowland is co chief investment Officer at
JH Investments.
Speaker 5 (03:49):
Earnings have been great S and P five hundred and
thirteen percent last quarter. Analysts are estimating about five percent
in Q two, So the bars lower that's a great thing.
Speaker 4 (04:00):
Are caught up in a mix of sometimes contradictory risks
surrounding the tariff rollout, fiscal policy, and the outlook for
the Federal Reserve in New York. Charlie Bloomberg Radio, and
that is.
Speaker 1 (04:11):
News when you want it with Bloomberg News. Now, I'm
Doug Chrisener, and this is Bloomberg
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