June 29, 2025 • 4 mins
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Speaker 1 (00:01):
News when you want it with Bloomberg News Now, I'm
Doug Prisner. Canada it's rescinding its digital services tax in
anticipation of a mutually beneficial, comprehensive trade agreement with the US.
Speaker 2 (00:13):
Now.
Speaker 1 (00:14):
Last Friday, President Trump said he was ending all trade
discussions with Canada in retaliation for this tax, and he
threatened to impose a fresh teriff rate within the next week.
But now Canadian Prime Minister Mark Karney and President Trump
have agreed that parties will resume negotiations with a view
toward agreeing on a deal by July twenty first. The
(00:35):
US Senate is debating President Trump's tax and spending bill
at this hour, and this is occurring as the Congressional
Budget Office is estimating the Senate's version of this bill
would add nearly three point three trillion dollars two s
deficits over a decade. With only three votes to spare,
Senate GOP leaders are negotiating behind closed doors to secure
(00:56):
full passage. Meantime, Democrats are criticized these cuts worth as
much as a trillion dollars over ten years for Medicaid
and snap benefits. Here is Massachusetts Senator Elizabeth Warren.
Speaker 2 (01:08):
Republicans know what they're doing. They know that this bill
will hurt people, They know that this bill will kill people, and.
Speaker 3 (01:17):
Though it's hard to believe, they just look.
Speaker 2 (01:20):
The other way.
Speaker 1 (01:21):
That was Massachusetts Senator Elizabeth Warren. Now President Trump is
pushing for a July fourth deadline for a bill that
would make those twenty seventeen tax cuts permanent. It would
also cut green energy subsidies and raise the debt ceiling
by five trillion dollars. One Republican who voted against the
tax bill was Senator Tom Tillis of North Carolina. Now
(01:44):
President Trump swiftly threatened to find a GOP primary challenger
to Tillos, and then today tilla said he won't seek reelection.
Democrats see the seat as a potential pickup opportunity. However,
sen a GOP campaign chair Tim Scott of South Carolina
insists the Senate will remain in Republican hands. We go
to Idaho next, where a sniper has ambushed firefighters responding
(02:08):
to a blaze in a northern Idaho mountain. Community. Authorities
say at least two people have been killed and they
are working to neutralize an active shooter. Here is Cootney
County Sheriff Robert Norris.
Speaker 3 (02:20):
We have multiple agencies that are unseen from local and
federal authorities, and we are prepared to neutralize this suspect
who is currently actively shooting at public safety personnel. We
are prepared to neutralize this suspect as quickly as possible.
Speaker 1 (02:43):
That was Cootney County Sheriff Robert Norris. President Trump says
he's identified a buyer for the US operations of TikTok,
but he stopped short of saying more. He spoke earlier
with Fox News Sunday Morning Futures.
Speaker 3 (02:55):
We have a buyer for TikTok. By the way, I
think I'll need probably China. A presidency will probably do it.
I'll tell you in about two weeks. I'm a big
technology company.
Speaker 1 (03:06):
There are very very wealthy people.
Speaker 2 (03:08):
It's a group of very wealthy people.
Speaker 1 (03:09):
That is President Trump, speaking earlier to Fox News's Maria Bartiromo. Now,
the fate of the US operations of TikTok has been
unclear for months. Back in twenty twenty four, Congress passed
a law requiring the app to be banned in the
US unless its Chinese parent company sold the app to
a non Chinese firm. Now, the chief concern is whether
(03:29):
US user data could end up in the hands of
the Chinese government, by the way, a previous deal involving
Oracle and some other US investors reportedly stalled given the
trade tensions between the US and China. Plenty of economic
data to look for in the week ahead, including the
June Jobs Report. We have a preview from Bloomberg's Karen Moscow.
Speaker 2 (03:50):
On Tuesday, investors get a look at ISM Manufacturing SMP,
Global Manufacturing PMI, Jolt's job openings and construction spending. Wednesday,
it's private pay rolls from ADP. The June Jobs report
is out Thursday, with the financial market scheduled to close
early ahead of the fourth of July holiday. We'll also
get a look at the weekly report on initial jobless claims.
Factory orders and trade markets are closed Friday for Independence Day.
(04:14):
Karen Moscow, Bloomberg Radio.
Speaker 1 (04:16):
In Sporting News, Hall of Fame horse trainer d Wayne
Lucas has died. Known as coach in racing circles, Lucas
claimed fifteen triple crowned victories, including four Kentucky Derby wins.
That was short of the record high held by his
close friend Bob Baffert Lucas was eighty nine. And that
is news when you want it with Bloomberg News Now,
(04:37):
I'm Doug Chrisner, and this is Bloomberg
News when you want it with Bloomberg News Now, I'm
Doug Prisner. Canada it's rescinding its digital services tax in
anticipation of a mutually beneficial, comprehensive trade agreement with the US.
Speaker 2 (00:13):
Now.
Speaker 1 (00:14):
Last Friday, President Trump said he was ending all trade
discussions with Canada in retaliation for this tax, and he
threatened to impose a fresh teriff rate within the next week.
But now Canadian Prime Minister Mark Karney and President Trump
have agreed that parties will resume negotiations with a view
toward agreeing on a deal by July twenty first. The
(00:35):
US Senate is debating President Trump's tax and spending bill
at this hour, and this is occurring as the Congressional
Budget Office is estimating the Senate's version of this bill
would add nearly three point three trillion dollars two s
deficits over a decade. With only three votes to spare,
Senate GOP leaders are negotiating behind closed doors to secure
(00:56):
full passage. Meantime, Democrats are criticized these cuts worth as
much as a trillion dollars over ten years for Medicaid
and snap benefits. Here is Massachusetts Senator Elizabeth Warren.
Speaker 2 (01:08):
Republicans know what they're doing. They know that this bill
will hurt people, They know that this bill will kill people, and.
Speaker 3 (01:17):
Though it's hard to believe, they just look.
Speaker 2 (01:20):
The other way.
Speaker 1 (01:21):
That was Massachusetts Senator Elizabeth Warren. Now President Trump is
pushing for a July fourth deadline for a bill that
would make those twenty seventeen tax cuts permanent. It would
also cut green energy subsidies and raise the debt ceiling
by five trillion dollars. One Republican who voted against the
tax bill was Senator Tom Tillis of North Carolina. Now
(01:44):
President Trump swiftly threatened to find a GOP primary challenger
to Tillos, and then today tilla said he won't seek reelection.
Democrats see the seat as a potential pickup opportunity. However,
sen a GOP campaign chair Tim Scott of South Carolina
insists the Senate will remain in Republican hands. We go
to Idaho next, where a sniper has ambushed firefighters responding
(02:08):
to a blaze in a northern Idaho mountain. Community. Authorities
say at least two people have been killed and they
are working to neutralize an active shooter. Here is Cootney
County Sheriff Robert Norris.
Speaker 3 (02:20):
We have multiple agencies that are unseen from local and
federal authorities, and we are prepared to neutralize this suspect
who is currently actively shooting at public safety personnel. We
are prepared to neutralize this suspect as quickly as possible.
Speaker 1 (02:43):
That was Cootney County Sheriff Robert Norris. President Trump says
he's identified a buyer for the US operations of TikTok,
but he stopped short of saying more. He spoke earlier
with Fox News Sunday Morning Futures.
Speaker 3 (02:55):
We have a buyer for TikTok. By the way, I
think I'll need probably China. A presidency will probably do it.
I'll tell you in about two weeks. I'm a big
technology company.
Speaker 1 (03:06):
There are very very wealthy people.
Speaker 2 (03:08):
It's a group of very wealthy people.
Speaker 1 (03:09):
That is President Trump, speaking earlier to Fox News's Maria Bartiromo. Now,
the fate of the US operations of TikTok has been
unclear for months. Back in twenty twenty four, Congress passed
a law requiring the app to be banned in the
US unless its Chinese parent company sold the app to
a non Chinese firm. Now, the chief concern is whether
(03:29):
US user data could end up in the hands of
the Chinese government, by the way, a previous deal involving
Oracle and some other US investors reportedly stalled given the
trade tensions between the US and China. Plenty of economic
data to look for in the week ahead, including the
June Jobs Report. We have a preview from Bloomberg's Karen Moscow.
Speaker 2 (03:50):
On Tuesday, investors get a look at ISM Manufacturing SMP,
Global Manufacturing PMI, Jolt's job openings and construction spending. Wednesday,
it's private pay rolls from ADP. The June Jobs report
is out Thursday, with the financial market scheduled to close
early ahead of the fourth of July holiday. We'll also
get a look at the weekly report on initial jobless claims.
Factory orders and trade markets are closed Friday for Independence Day.
(04:14):
Karen Moscow, Bloomberg Radio.
Speaker 1 (04:16):
In Sporting News, Hall of Fame horse trainer d Wayne
Lucas has died. Known as coach in racing circles, Lucas
claimed fifteen triple crowned victories, including four Kentucky Derby wins.
That was short of the record high held by his
close friend Bob Baffert Lucas was eighty nine. And that
is news when you want it with Bloomberg News Now,
(04:37):
I'm Doug Chrisner, and this is Bloomberg
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