October 14, 2025: US-China Recipe for Trade Tensions, Trump Argentina Aid Warning, More

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Episode Transcript

Speaker 1 (00:01):
News when you want it with Bloomberg News Now, I'm
Doug Chrisner. Tensions over trade between the US and China
spiked again today. Early on Tuesday, China sanctioned five US
units of the South Korean shipping firm Hanwa Ocean Company,
and at the same time, Beijing threatened more retaliation. Then,
in a post on truth Social near the close of

(00:22):
US trading, President Trump said the US might stop trading
in cooking oil with China. Trump framed this potential move
as retaliation against Beijing for its refusal to buy American soybeans.
Here is Bloomberg's Derek Wallbank.

Speaker 2 (00:37):
What we're seeing right now is we're seeing a substantial
escalation in this sort of like here and there, tit
for tat kind of go back and forth between China
and the United States, both of them ratcheting up tensions
in some small ways here and there walking into what
is going to be a showdown meeting between Trump and

(00:58):
She expected at the APEC conference. Around the sidelines of
the APEC conference in South Korea.

Speaker 1 (01:04):
That was Bloomberg's Derek Wallbank, and as he mentioned, President's
Trump and She were expected to meet at the end
of the month at that APEC summit. Today, we heard
from US Trade Rep. Jamison Greer addressing that meeting and
saying that in fact, Trump was still on track to
meet with she Now. Greer's remarks did provide hope for
markets in terms of future negotiations. Apple is preparing to

(01:26):
expand its manufacturing operations in Vietnam. It's part of Apple's
ongoing effort to reduce its dependence on China. We are
told the company is developing a range of new home
devices for next year to be built in Vietnam, and
that would include indoor security cameras and a display designed
to control appliances. President Trump is threatening to pull financial

(01:49):
assistance from Argentina. These comments came during a meeting today
with Argentina's President, Javi Ar Malay. Now. Argentina is set
to hold midterm elections for its legislative body later this month,
and Trump suggested a twenty billion dollar lifeline could be
contingent on Malay's success. Today we heard from Massachusetts Democratic

(02:10):
Senator Elizabeth Warren. She offered her reaction to the administration's
deal with Argentina.

Speaker 3 (02:16):
Donald Trump ran for office proclaiming he would do America first. Instead,
he is sending twenty billion American taxpayer dollars to bail
out his buddy in Argentina. And he's doing this after
Argentina has just cozied up to China and cut a

(02:37):
deal with China that takes the legs out from underneath
American soybean farmers.

Speaker 1 (02:43):
Massachusetts Democratic Senator Elizabeth Warren speaking on Bloomberg's balance of power.
We go to Israel next, where the government says it
would cut in half the number of humanitarian aid trucks
allowed to travel into Gaza. Authorities are concerned that Hamas
was returning the reins of dead hostages more slowly than agreed.

(03:03):
Here is Danny Denon, Israel's ambassador to the UN.

Speaker 4 (03:07):
Unfortunately, what happened instead of releasing all of the bodies
at the same time, We received four bodies yesterday that
we identified, and in the last few hours we received
another four bodies that we have to identify. It will
take us few hours, so I assume that we will
be hate altoges back home. But Hamas can do more

(03:28):
than that capable. We know that they know the location
of more hostages who were deceased and buried in Gaza.
And we expect them not to play any games with US.

Speaker 1 (03:38):
Danny Dennon there Israel's ambassador to the UN. We also
heard today from President Trump on this topic, and he
demanded that Hamas returned the bodies of those deceased hostages.
At the same time, Trump threatened the militant group with
retaliation if it did not lay down its arms. We
heard today from Fetchair J. Powell, who reinforced bets on

(03:58):
a rate cut in October given a weaker labor market.
Powell also indicated that FED may stop shrinking its balance
sheet in the coming months as a way of maintaining
liquidity in overnight funding markets.

Speaker 5 (04:10):
Our long stated plan is to stop balance sheet runoff
when reserves are somewhat above the level we judge consistent
with ample reserves conditions. We may approach that point in
coming months, and we are closely monitoring a wide range
of indicators to inform this decision. Some signs have begun
to emerge that liquidity conditions are gradually tightening, including a
general firming of repo rates, along with more noticeable but

(04:34):
temporary pressures on selected dates.

Speaker 1 (04:36):
FED share Jpowell there he was speaking at the National
Association for Business Economics in Philadelphia. It's day fourteen of
the government shutdown, and today President Trump pledged to release
a list of federal programs slated for cuts later in
the week. This is part of the White House effort
to slash the federal bureaucracy and put pressure on Democrats

(04:58):
to end the shutdowntime. Democrats remain firm in their position
that Republicans are responsible for the shutdown. Here is House
Minority Leader Jakim Jeffries.

Speaker 6 (05:08):
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 1 (05:20):
And at the same time, today, more than a dozen
US airports vowed to not show the video of Homeland
Security Secretary Christine Nome blaming Congressional Democrats for the ongoing shutdown.
Here is a clip of that video.

Speaker 7 (05:34):
Hi, I'm christin home the United States Secretary of Homeland Security.
It is TSA's top priority to make sure that you
have the most pleasant and efficient airport experience as possible
while we keep you safe. However, Democrats in Congress refuse
to fund the federal government, and because of this, many
of our operations are impacted and most of our TSA
employees are working without pay. We will continue to do

(05:57):
all that we can to avoid delays that will imp
your travel, and our hope is that Democrats will soon
recognize the importance of opening the government.

Speaker 1 (06:06):
Homeland Security Secretary Christy Nome in a video now. Some
of the airports cited the political nature of this message
from Nome for not showing the video, saying it violated
their policies. In the MLB postseason, the Los Angeles Dodgers
have beaten the Milwaukee Brewers in Game two of the
NLCS five to one. LA now leads this series two

(06:28):
games to none. And that is news when you want
it with Bloomberg News. Now, I'm Doug Prisoner and this
is Bloomberg