October 17, 2025: US-China Talks Next Week, Trump Extends Auto Tariff Relief, More

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Speaker 1 (00:01):
News when you want it with Bloomberg News Now I
made Kleggy. The next round of US China trained talks
is set for next week, with Treasury Secretary Scott Bessant
and Vice Premier he Lee Fung facing the task of
negotiating down new escalatory measures between the world's two largest economies.
Besson said he spoke virtually with he on Friday evening.

(00:24):
The Treasury chief earlier described the discussions with He as
Frank had detailed, and reaffirmed plans to meet in person
next week. US Trade Representative Jamison Greer also took part
in the online talks. In a conversation with Fox Businesses
Morning with Maria, President Trump said that higher tariffs are
not sustainable. It's not sustainable, but that's what the number is.

(00:48):
It's probably not you know, it could stand, but they
forced me to do that. The Trump administration formerly imposed
twenty five percent tariffs on imported medium and heavy duty
trucks and parts, as well as a ten percent duty
on buses, while extending a key tariff for pre for
American automakers. President Trump signed a proclamation Friday, hitting trucks

(01:10):
and buses with tariffs beginning November one. This according to
senior Administration officials, Trump previously announced plans to place Levi's
on trucks. The directive also prolongs through twenty thirty a
tariff discount Trump already provided car makers that produce and
sell completed automobiles in the US, and sets in motion
plans to apply the same offset for truck duties. President

(01:32):
Trump has asked the US Supreme Court to let him
immediately deploy National Guard troops in Chicago, escalating a high
stakes clash over his use of the military and American cities.
The emergency request Friday follows a federal appeals Court decision
Thursday refusing to let Trump deploy the troops, but saying
they would remain under the control of the federal government
for the time being. Their request marks the first time

(01:54):
the Supreme Court has been drawn into Trump's effort to
deploy the National Guarden cities that he contends are over
run by crime and where people are protesting his immigration crackdown.
President Trump says he is commuting the sentence of former
Republican lawmaker George Santos, who was convicted and sentenced to
prison for stealing campaign funds. Trump alleged without providing any evidence,

(02:16):
that Santos had been horribly mistreated while in prison. President
Trump acknowledged that President Vladimir Putin may be stalling for
time by agreeing to another summit, as Ukrainian President Vladimir
Zelenski pushed for more US weapons in Washington in a
bit to force an end to Russia's invasion. President Trump
spoke while meeting with Zelenski at the White House. I've

(02:38):
been played all my life by the best of them,
and I came out really well, so as possible. A
little time, right, but I think that pretty good at
this stuff. I think that he wants to make a deal.
I made eight of them. I'm going to make a night.
I think he wants to make a deal. Meanwhile, the

(02:59):
Ukrainian leader said there is now an opportunity for President Trump.
President Trump has a big chance now to finish this war.
After the meetings, Lensky told reporters that he talked with
world leaders, including President Trump, about security guarantees. We want
United States to be a part of security. We count

(03:20):
on the leadership of the United States. We spoke about it,
and of course is but college of the villains. It's
our main European partners, and of course United States. We
spoke about it, and we spoke our conversation. Both their
defenses were important. Zelensky had pressed the US to sew

(03:41):
Ukraine Tomahawk missiles, but says the US didn't make a
deal with them because the President doesn't want to quote escalation.
Former National Security Advisor John Bolton pleaded not guilty Friday
at a Maryland federal courthouse the charges that he allegedly
mishandled classified materials. The US Justice Department is charged Bolton,
a former top aid to President Trump during his first term,

(04:02):
with breaking laws related to the transmission or retention of
national defense information. The charges were unveiled in an eighteen
count indictment made public on Thursday. Apple has secured exclusive
television rights to Formula one races in the US, adding
to a sports streaming slate that already includes Major League
Soccer and Major League Baseball. The iPhone maker struck a

(04:24):
five year deal starting in twenty twenty six with F
one owner at Liberty Media. ESPN had been the broadcaster
of F one and the US. Financial terms of the
agreement were not disclosed. The BBC reported that the Degal
was worth seven hundred and fifty million dollars in total,
nearly twice the eighty million a year ESPN had been paying.
In Los Angeles, the Dodgers completed a four game sweep

(04:46):
with a five to one win over the Milwaukee Brewers
to win the National League pennant. Meanwhile, Game five of
the American League Championship Series in Seattle, the Mariners defeated
the Toronto Blue Jays six to two to take a
three games to two lead. The Friday numbers on Wall
Street the Dell game two thirty eight, NASDAK added one seventeen,
the S and p up thirty four. The ten year
treasurer yield four point zero one percent, the two year

(05:07):
three point four six percent. That's news when you want
it with Bloomberg News. Now I'm in Kleggy. This is
Bloomberg