July 9, 2025 • 5 mins
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Speaker 1 (00:00):
News when you want it with Bloomberg News Now, I'm
Doug Prisner. President Trump is threatening to impose a fifty
percent tariff on goods from Brazil, and he cited the
treatment of former Brazilian president Jaiir Balsonaro. Trump called on
Brazilian authorities to drop charges against Balsonaro over an alleged
coup attempt. Here is Bloomberg's Laura Davison.
Speaker 2 (00:21):
And this seems to be a completely different justification, almost
in a separate bucket, which may suggest that this may
be on a different negotiating track than some of the
other letters we've seen over the past three days.
Speaker 1 (00:30):
That is Bloomberg's Laura Davison. Later in the day, we
heard from Brazil's current president, Luise Ignacio Lula de Silva.
He said any measure to raise tariff's unilaterally will be
answered in light of the Brazilian law of economic reciprocity.
President Trump also announced to tariff on copper of fifty
percent effective August first. The chair of the US Council
(00:52):
of Economic Advisors is Stephen Myron. He was asked why
the administration is targeting copper with the fifty percent tariff.
Speaker 3 (01:00):
You know there are certain critical minerals, of which copper
is one that you just absolutely need if you're going
to have manufacturing sector, and having a manufacturing sector is important,
not just economically because it tends to be a high capital,
high productivity field.
Speaker 1 (01:13):
You can hear more from Steven Myron on the Bloomberg
Talks podcast. Minutes of the last FED meeting show an
emerging divide among officials over expectations for how those tariffs
might impact inflation. A few participants said tariffs would lead
to a one time increase in prices and would not
affect longer term inflation expectations. However, most participants said tariffs
(01:36):
could have a more persistent impact on inflation. Stephen Skankey
is chief Economic advisor at keel Point.
Speaker 4 (01:43):
I mean, it's great that President Trump is not concerned
about tariffs and inflation, but the rest of the economy
and even financial markets certainly have that as something that
they are concerned about.
Speaker 1 (01:57):
Steven Skanky there the chief economic advisor at keel Point.
We go to Texas next, where search and rescue efforts
are ongoing after that devastating flash flood over the fourth
of July weekend. More than one hundred people are confirmed
dead and at least one hundred people are still missing
in Kerr County, the hardest hit area of the Texas
(02:17):
Hill Country. We heard from Texas Governor Greg Abbott. He
said rescue crews will continue working until every single person
is accounted for. We also heard from Larry Leitha, the
sheriff of Kern County.
Speaker 5 (02:29):
It's all hands on deck. Everybody we got are out here.
But also we have an additional two thousand plus people
helping us. But as far as our patrol division, you
know they're right now. They're involved in answer and calls.
You have to remember we still got day to day
calls we have to handle, but they're also involved in
different kinds of rescue and recovery ECPORT.
Speaker 1 (02:48):
Larry Letha there. He is the sheriff of Kerk County, Texas.
President Trump's pick to lead the National Oceanic and Atmospheric
Administration or NOAH is Neil Jacobs, and today he faced
lawmakers and a confirmation hearing. It came just days after
those fatal floods in Texas. NOAH manages the National Weather Service,
and there have been questions on whether the cuts to NOAH,
(03:10):
including those affecting. The National Weather Service played a role
in a lack of warning about the floods. Jacobs told
lawmakers that if confirmed, he will make upgrades to the
weather forecasting system.
Speaker 2 (03:22):
If confirmed, one of my top priorities is to return
the United States to the world's leader in global weather
forecast modeling capability. As a matter of public safety, national security,
and national pride. We will restore American technological superiority with
his vital service for the country and our military serving
around the world.
Speaker 1 (03:40):
Neil Jacobs, speaking there. President Trump welcomed leaders of five
African nations to the White House today, where he hailed
the continent's economic potential. More from Bloomberg's Amy Morrison Washington.
Speaker 6 (03:52):
President Trump says the US is shifting from aid to trade,
and he suggested the assembled countries could be exempt from
planned recip tariffs, calling them quote friends of mine now,
as his administration seeks to expand US access using what
he calls a common sense tariff formula.
Speaker 7 (04:09):
The formula was a formula based on common sense, based
on deficits, based on how we've been treated, and based
on raw numbers.
Speaker 6 (04:20):
The summit aims to spur deals in a region rich
in minerals, with the five countries offering potential investment opportunities
in areas like iron ore and natural gas in Washington,
Amy Morris, Bloomberg Radio.
Speaker 1 (04:32):
This year, Amazon expanded its annual Prime Day summer sale
from two days to four days. However, sales plunged forty
one percent on Tuesday when compared with the start of
the event last year. This analysis, by the way, comes
from Momentum Commerce. Here is Jamil Ghani, vice president at
Amazon Prime.
Speaker 8 (04:51):
We just started the event yesterday, so it's very early,
but we're really pleased by the engagement that we're getting
from our customers and our members. Not only is event
twice as long, so four days, but we're also offering
more than double the number of deals that are fifty
percent off or more.
Speaker 1 (05:06):
Jammielghani, their vice president at Amazon Prime. And that is
news when you want it with Bloomberg News. Now, I'm
Doug Prisner, and this is Bloomberg and that is news
when you want it with Bloomberg News. Now. I'm Doug Prisner,
and this is Bloomberg
News when you want it with Bloomberg News Now, I'm
Doug Prisner. President Trump is threatening to impose a fifty
percent tariff on goods from Brazil, and he cited the
treatment of former Brazilian president Jaiir Balsonaro. Trump called on
Brazilian authorities to drop charges against Balsonaro over an alleged
coup attempt. Here is Bloomberg's Laura Davison.
Speaker 2 (00:21):
And this seems to be a completely different justification, almost
in a separate bucket, which may suggest that this may
be on a different negotiating track than some of the
other letters we've seen over the past three days.
Speaker 1 (00:30):
That is Bloomberg's Laura Davison. Later in the day, we
heard from Brazil's current president, Luise Ignacio Lula de Silva.
He said any measure to raise tariff's unilaterally will be
answered in light of the Brazilian law of economic reciprocity.
President Trump also announced to tariff on copper of fifty
percent effective August first. The chair of the US Council
(00:52):
of Economic Advisors is Stephen Myron. He was asked why
the administration is targeting copper with the fifty percent tariff.
Speaker 3 (01:00):
You know there are certain critical minerals, of which copper
is one that you just absolutely need if you're going
to have manufacturing sector, and having a manufacturing sector is important,
not just economically because it tends to be a high capital,
high productivity field.
Speaker 1 (01:13):
You can hear more from Steven Myron on the Bloomberg
Talks podcast. Minutes of the last FED meeting show an
emerging divide among officials over expectations for how those tariffs
might impact inflation. A few participants said tariffs would lead
to a one time increase in prices and would not
affect longer term inflation expectations. However, most participants said tariffs
(01:36):
could have a more persistent impact on inflation. Stephen Skankey
is chief Economic advisor at keel Point.
Speaker 4 (01:43):
I mean, it's great that President Trump is not concerned
about tariffs and inflation, but the rest of the economy
and even financial markets certainly have that as something that
they are concerned about.
Speaker 1 (01:57):
Steven Skanky there the chief economic advisor at keel Point.
We go to Texas next, where search and rescue efforts
are ongoing after that devastating flash flood over the fourth
of July weekend. More than one hundred people are confirmed
dead and at least one hundred people are still missing
in Kerr County, the hardest hit area of the Texas
(02:17):
Hill Country. We heard from Texas Governor Greg Abbott. He
said rescue crews will continue working until every single person
is accounted for. We also heard from Larry Leitha, the
sheriff of Kern County.
Speaker 5 (02:29):
It's all hands on deck. Everybody we got are out here.
But also we have an additional two thousand plus people
helping us. But as far as our patrol division, you
know they're right now. They're involved in answer and calls.
You have to remember we still got day to day
calls we have to handle, but they're also involved in
different kinds of rescue and recovery ECPORT.
Speaker 1 (02:48):
Larry Letha there. He is the sheriff of Kerk County, Texas.
President Trump's pick to lead the National Oceanic and Atmospheric
Administration or NOAH is Neil Jacobs, and today he faced
lawmakers and a confirmation hearing. It came just days after
those fatal floods in Texas. NOAH manages the National Weather Service,
and there have been questions on whether the cuts to NOAH,
(03:10):
including those affecting. The National Weather Service played a role
in a lack of warning about the floods. Jacobs told
lawmakers that if confirmed, he will make upgrades to the
weather forecasting system.
Speaker 2 (03:22):
If confirmed, one of my top priorities is to return
the United States to the world's leader in global weather
forecast modeling capability. As a matter of public safety, national security,
and national pride. We will restore American technological superiority with
his vital service for the country and our military serving
around the world.
Speaker 1 (03:40):
Neil Jacobs, speaking there. President Trump welcomed leaders of five
African nations to the White House today, where he hailed
the continent's economic potential. More from Bloomberg's Amy Morrison Washington.
Speaker 6 (03:52):
President Trump says the US is shifting from aid to trade,
and he suggested the assembled countries could be exempt from
planned recip tariffs, calling them quote friends of mine now,
as his administration seeks to expand US access using what
he calls a common sense tariff formula.
Speaker 7 (04:09):
The formula was a formula based on common sense, based
on deficits, based on how we've been treated, and based
on raw numbers.
Speaker 6 (04:20):
The summit aims to spur deals in a region rich
in minerals, with the five countries offering potential investment opportunities
in areas like iron ore and natural gas in Washington,
Amy Morris, Bloomberg Radio.
Speaker 1 (04:32):
This year, Amazon expanded its annual Prime Day summer sale
from two days to four days. However, sales plunged forty
one percent on Tuesday when compared with the start of
the event last year. This analysis, by the way, comes
from Momentum Commerce. Here is Jamil Ghani, vice president at
Amazon Prime.
Speaker 8 (04:51):
We just started the event yesterday, so it's very early,
but we're really pleased by the engagement that we're getting
from our customers and our members. Not only is event
twice as long, so four days, but we're also offering
more than double the number of deals that are fifty
percent off or more.
Speaker 1 (05:06):
Jammielghani, their vice president at Amazon Prime. And that is
news when you want it with Bloomberg News. Now, I'm
Doug Prisner, and this is Bloomberg and that is news
when you want it with Bloomberg News. Now. I'm Doug Prisner,
and this is Bloomberg
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