October 16, 2025: John Bolton Indicted, US Poised to Ease Tariffs on Autos, More

Listen for the latest from Bloomberg News

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
News when you wanted with Bloomberg News. Now, I'm Doug Prisner.
John Bolton has been indicted over allegedly mishandling classified documents.
Bolton was charged with eighteen counts by a federal grand
jury in Maryland, and federal prosecutors secured and arrest warrant.
Bolton was National Security advisor to President Trump during his
first term. Here is Bloomberg's Kate Sullivan.

Speaker 2 (00:23):
This indictment comes, you know, just weeks after indictments against
Jim Comey and Letitia James. After Comy was indicted, Trump
suggested that there were more people his administration were targeting,
clearly part of a retribution campaign that Trump has been
signaling for a long time.

Speaker 1 (00:38):
Now. That is Kate Sullivan. Now Bolton previously denied mishandling
classified information. The White House is poised to east tariffs
on the US auto industry. We are told the Commerce
Department is set to announce a five year extension on
an arrangement allowing automakers to reduce what they pay in
tariffs on imported car parts. This concession follows mon months

(01:00):
of lobbying by the automakers. President Trump says he'll meet
with Russian President Vladimir Putin in Budapest to discuss an
end to the war in Ukraine. Today, Trump said great
progress was made after a more than two hour phone
call with Putin later in the day. Trump expressed optimism
of a breakthrough on a ceasefire, even though an August

(01:21):
meeting with Putin in Alaska failed to deliver one. Here
is Trump, Well, I think Alaska actually set a stage.

Speaker 3 (01:28):
And that wasn't very long ago, but it set a stage.
You have to understand, I came into this situation. I
didn't start this war. This is a Biden deal, and
I came into it, and it was a mess. He
could have led to World War three. In my opinion,
this could have led to World War three.

Speaker 1 (01:43):
That won't happen, President Trump speaking there now. The US
and Russia will hold high level staff talks next week
prior to the meeting of Trump and Putin Tomorrow. By
the way, President Trump is scheduled to meet with Ukraine's
President Vladimir Zelensky at the White House. The government has
been shut down for sixteen days, and it appears in
either side is budging sent him. Majority leader John Thune

(02:06):
told MSNBC today he offered Democrats a vote on extending
the Obamacare tax credits, but he couldn't guarantee an outcome.
We also heard today from House Speaker Mike Johnson.

Speaker 4 (02:18):
The Obombcare subsidy issue is not the issue of today.
It is in a subsidy that expires December thirty one.
We were always planning to continue the debate and discussion
about that issue in October November. Ironically, Democrats are taking
the time off the clock for us to do that.

Speaker 1 (02:31):
House Speaker Mike Johnson. Japan's finance minister voiced serious concern
today over China's latest export controls on rare earths, and
he stressed the importance of coordinated action from G seven
nations to avert a negative impact on global supply chains.
At the same time, today, US Trade rep Jamison Greer
said China is acting as if it wants to decouple

(02:53):
from the US and the rest of the world when
it comes to trade. Here is Greer speaking to Fox Business.

Speaker 5 (03:00):
They're trying to control the supply chains of the entire world,
not just the United States. There's obviously a lot of
room to have a trading relationship with China that finds
a way to be constructive between US, but it China
keeps taking the types of actions or if they actually
implement what they've threatened to implement, they in effect will
will be decoupling.

Speaker 1 (03:17):
That is US Trade Rep. Jamison Grier, speaking earlier to
Fox Business, he also said it's possible for the US
to take more stakes in rare earth companies to ensure
the US has access to those minerals. We go to
New York City next, where the candidates and the race
to become the city's next mayor debated tonight on the
stage where Independent candidate Andrew Cuomo, Democratic nominees are On

(03:40):
Mamdani and Republican nominee Curtis Sliwa. Through the evening, Cuomo
and Mamdani traded barbs.

Speaker 3 (03:47):
This is not a job for a first timer any day.
You've got a hurricane, God forbid, a nine to eleven
health pandemic.

Speaker 1 (03:57):
If you don't know what we can be.

Speaker 5 (03:58):
Doing people, soir mom donnel, you want to respond.

Speaker 2 (04:01):
And if we have a health pandemic, then why would
New Yorkers turn back to the governor who sent seniors
to their death in nursing homes.

Speaker 1 (04:07):
Andrew Cuomo and Zoron Mumdani audio by the way, his
courtesy of WNBCTV and WNJUTV. Incidentally, this is the first
of two debates as the November fourth general election closes in,
the original lead guitarist and founding member of the glam

(04:28):
rock band Kiss has died. Ace Frehley died peacefully surrounded
by his family in Morristown, New Jersey. According to his agent,
Frehley suffered a recent fall. Ace Frehley was seventy four.
That is news when you wanted with Bloomberg News. Now
I'm Doug Prisner and this is Bloomberg