September 25, 2025 • 5 mins
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Speaker 1 (00:01):
News when you want it with Bloomberg News Now. I'm
Doug Prisner. President Trump has unveiled a litany of new tariffs.
He said the US will impose a one hundred percent
tariff on any branded or patented pharmaceutical product unless a
company is building their pharmaceutical manufacturing plant in America. Here
is Deborah Elms, head of trade policy at the Heinrich Foundation.
Speaker 2 (00:23):
These negotiations have been largely about what we're called the
reciprocal tariffs, that is, those tariffs imposed under emergency powers
originally on April second, had been revised since then. That's
where the focus has been, and what the Trump administration
has been doing is moving more and more tariff coverage
to the sector specific tariffs on increasingly now everything as
(00:45):
you can see, including now the kitchen cabinet and the
couch in the living room.
Speaker 1 (00:50):
Deborah ELM's there, head of trade policy at the Heinrich Foundation.
Speaker 3 (00:53):
Now.
Speaker 1 (00:54):
Trump also announced a fifty percent tariff on kitchen cabinets,
thirty percent levies on upholstered furnace, and twenty five percent
tariffs on heavy trucks. Incidentally, these new tariffs are set
to take effect October first. Former FBI Director James Comy
has been indicted on two of three criminal accounts sought
by federal prosecutors. He's been charged with making a false
(01:17):
statement and obstruction now. This case was filed days after
President Trump appeared to urge his Attorney general to prosecute
the former FBI director and other perceived political enemies. This
makes Comy the first former senior government official to face
prosecution in connection with one of Trump's chief grievances, the
(01:37):
long concluded investigation into Russian interference in the twenty sixteen election.
Komy reacted on Instagram.
Speaker 4 (01:45):
My family and I have known for years that there
are costs to standing up to Donald Trump, but we
couldn't imagine ourselves living any other way. We will not
live on our knees, and you shouldn't either. Somebody that
I love dearly recently said that fear is the tool
of a tyrant, and she's right. But I'm not afraid,
(02:09):
and I hope you're not either.
Speaker 1 (02:11):
That is former FBI Director James Comi. Meantime, President Trump
has formalized an agreement for a group of American investors
to take control of TikTok's US operations and the president
said Oracle will secure the algorithm on the American version
of this platform. Now, Vice President jd Vance played a
central role in crafting this deal. Vance said the company
(02:34):
is valued at around fourteen billion dollars.
Speaker 5 (02:37):
We actually think this is a good deal for investors,
but ultimately the investors are going to make the determination
about what they want to invest in and what they
think is a proper value.
Speaker 1 (02:44):
Vice President jd Vance. There Now, the composition of the
buyer's group is not yet official. We are told Oracle,
along with a private equity firm Silver Lake, and the
Abu Dhabi based investment company MGX, would each have a stake.
Here is Bloomberg Sarah, So.
Speaker 3 (03:01):
What Trump thinks he has here is a solution that
will satisfy not just the law but the Chinese government.
And we're not really hearing anything from China. We're not
really hearing anything from by Dance. So it's possible. But
you know, if this is so solid, if this is
so solid that it's going to be announced with these stakes,
(03:23):
why does it need one hundred and twenty days?
Speaker 1 (03:24):
Bloomberg Sarah Fryar. Amazon has agreed to pay two and
a half billion dollars in penalties and refunds to settle
a lawsuit by the FTC. Amazon was accused of misleading
millions of customers into signing up for Prime and then
making it intentionally difficult to cancel. As part of this settlement,
Amazon will change its process for how to cancel a
(03:46):
Prime subscription. The company will also make payouts to customers.
Here is Bloomberg Spenser, soaper.
Speaker 5 (03:53):
People will be refunded automatically if it was found they
were affected by this case, and you're looking at about
fifty bucks per affected consumers, So it's no huge windfall
for consumers, and even for Amazon. Two and a half
billion dollars is probably like a parking ticket for you
and me. But it puts this thing to bed and
(04:13):
prevents Amazon from going to a trial, which probably would
have been pretty embarrassing.
Speaker 1 (04:17):
That is Bloomberg Spencer's Soper. Another down day for the
US equity market three in a row, in fact, and
if you're wondering, that is the longest slide in a month.
More from Bloomberg's Charlie Pellett.
Speaker 6 (04:28):
The S and P five hundred index is now just
above sixty six hundred, with valuation worries overshadowing data showing
the US economy is holding up. Mirrapanda is Global Market
Strategistic JP Morgan Asset Management.
Speaker 7 (04:43):
So when I think about whether the market is overvalued,
it's certainly highly valued. But a lot of the companies
underneath the surface are producing and being resilient in faces
some of these headwinds.
Speaker 6 (04:53):
Investors are awaiting the Fed's next rate move and a
crucial earning season, while the threat of a US this
government shutdown is growing more severe in New York. Charlie
Pellett Bloomberg Radio, and that.
Speaker 1 (05:06):
Is news when you want it with Bloomberg News. Now,
I'm Doug Prisoner and this is Bloomberg
News when you want it with Bloomberg News Now. I'm
Doug Prisner. President Trump has unveiled a litany of new tariffs.
He said the US will impose a one hundred percent
tariff on any branded or patented pharmaceutical product unless a
company is building their pharmaceutical manufacturing plant in America. Here
is Deborah Elms, head of trade policy at the Heinrich Foundation.
Speaker 2 (00:23):
These negotiations have been largely about what we're called the
reciprocal tariffs, that is, those tariffs imposed under emergency powers
originally on April second, had been revised since then. That's
where the focus has been, and what the Trump administration
has been doing is moving more and more tariff coverage
to the sector specific tariffs on increasingly now everything as
(00:45):
you can see, including now the kitchen cabinet and the
couch in the living room.
Speaker 1 (00:50):
Deborah ELM's there, head of trade policy at the Heinrich Foundation.
Speaker 3 (00:53):
Now.
Speaker 1 (00:54):
Trump also announced a fifty percent tariff on kitchen cabinets,
thirty percent levies on upholstered furnace, and twenty five percent
tariffs on heavy trucks. Incidentally, these new tariffs are set
to take effect October first. Former FBI Director James Comy
has been indicted on two of three criminal accounts sought
by federal prosecutors. He's been charged with making a false
(01:17):
statement and obstruction now. This case was filed days after
President Trump appeared to urge his Attorney general to prosecute
the former FBI director and other perceived political enemies. This
makes Comy the first former senior government official to face
prosecution in connection with one of Trump's chief grievances, the
(01:37):
long concluded investigation into Russian interference in the twenty sixteen election.
Komy reacted on Instagram.
Speaker 4 (01:45):
My family and I have known for years that there
are costs to standing up to Donald Trump, but we
couldn't imagine ourselves living any other way. We will not
live on our knees, and you shouldn't either. Somebody that
I love dearly recently said that fear is the tool
of a tyrant, and she's right. But I'm not afraid,
(02:09):
and I hope you're not either.
Speaker 1 (02:11):
That is former FBI Director James Comi. Meantime, President Trump
has formalized an agreement for a group of American investors
to take control of TikTok's US operations and the president
said Oracle will secure the algorithm on the American version
of this platform. Now, Vice President jd Vance played a
central role in crafting this deal. Vance said the company
(02:34):
is valued at around fourteen billion dollars.
Speaker 5 (02:37):
We actually think this is a good deal for investors,
but ultimately the investors are going to make the determination
about what they want to invest in and what they
think is a proper value.
Speaker 1 (02:44):
Vice President jd Vance. There Now, the composition of the
buyer's group is not yet official. We are told Oracle,
along with a private equity firm Silver Lake, and the
Abu Dhabi based investment company MGX, would each have a stake.
Here is Bloomberg Sarah, So.
Speaker 3 (03:01):
What Trump thinks he has here is a solution that
will satisfy not just the law but the Chinese government.
And we're not really hearing anything from China. We're not
really hearing anything from by Dance. So it's possible. But
you know, if this is so solid, if this is
so solid that it's going to be announced with these stakes,
(03:23):
why does it need one hundred and twenty days?
Speaker 1 (03:24):
Bloomberg Sarah Fryar. Amazon has agreed to pay two and
a half billion dollars in penalties and refunds to settle
a lawsuit by the FTC. Amazon was accused of misleading
millions of customers into signing up for Prime and then
making it intentionally difficult to cancel. As part of this settlement,
Amazon will change its process for how to cancel a
(03:46):
Prime subscription. The company will also make payouts to customers.
Here is Bloomberg Spenser, soaper.
Speaker 5 (03:53):
People will be refunded automatically if it was found they
were affected by this case, and you're looking at about
fifty bucks per affected consumers, So it's no huge windfall
for consumers, and even for Amazon. Two and a half
billion dollars is probably like a parking ticket for you
and me. But it puts this thing to bed and
(04:13):
prevents Amazon from going to a trial, which probably would
have been pretty embarrassing.
Speaker 1 (04:17):
That is Bloomberg Spencer's Soper. Another down day for the
US equity market three in a row, in fact, and
if you're wondering, that is the longest slide in a month.
More from Bloomberg's Charlie Pellett.
Speaker 6 (04:28):
The S and P five hundred index is now just
above sixty six hundred, with valuation worries overshadowing data showing
the US economy is holding up. Mirrapanda is Global Market
Strategistic JP Morgan Asset Management.
Speaker 7 (04:43):
So when I think about whether the market is overvalued,
it's certainly highly valued. But a lot of the companies
underneath the surface are producing and being resilient in faces
some of these headwinds.
Speaker 6 (04:53):
Investors are awaiting the Fed's next rate move and a
crucial earning season, while the threat of a US this
government shutdown is growing more severe in New York. Charlie
Pellett Bloomberg Radio, and that.
Speaker 1 (05:06):
Is news when you want it with Bloomberg News. Now,
I'm Doug Prisoner and this is Bloomberg
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