1
00:00:01,800 --> 00:00:04,920
Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Christner.

2
00:00:05,280 --> 00:00:08,480
Speaker 1: The US Supreme Court is allowing President Trump to resume

3
00:00:08,640 --> 00:00:13,360
Speaker 1: deporting alleged to Venezuelan gang members under the Alien Enemies Act.

4
00:00:13,760 --> 00:00:16,880
Speaker 1: In the five to four vote, the justices overturned a

5
00:00:16,920 --> 00:00:20,159
Speaker 1: lower court decision that had put a temporary stop to

6
00:00:20,200 --> 00:00:23,720
Speaker 1: these deportations. And we got reaction from Bloomberg Law host

7
00:00:24,000 --> 00:00:24,680
Speaker 1: June Grosso.

8
00:00:26,079 --> 00:00:29,680
Speaker 2: What the justices said is they have to be allowed

9
00:00:29,720 --> 00:00:31,760
Speaker 2: to have this due process, and they should do it

10
00:00:31,800 --> 00:00:35,360
Speaker 2: by habeas corpus petition basically, and it should be filed

11
00:00:35,400 --> 00:00:37,920
Speaker 2: in the jurisdiction where they're being held. Well, they're being

12
00:00:37,960 --> 00:00:42,120
Speaker 2: held in Texas, and you know, Texas immigration courts are

13
00:00:42,200 --> 00:00:46,360
Speaker 2: not as show we say, sympathetic to migrants as courts

14
00:00:46,360 --> 00:00:49,760
Speaker 2: and other jurisdictions, for example New York and DC.

15
00:00:50,240 --> 00:00:53,279
Speaker 1: That is Bloomberg's June Grosso. Now, the justices did not

16
00:00:53,320 --> 00:00:57,520
Speaker 1: address the issue of whether the Trump administration improperly categorized

17
00:00:57,560 --> 00:01:02,720
Speaker 1: the Venezuelans as deportable under the Alien Enemies Act. Targeted

18
00:01:02,760 --> 00:01:05,679
Speaker 1: reciprocal tariffs on imports to the US are set to

19
00:01:05,680 --> 00:01:09,400
Speaker 1: take effect on Wednesday. Dozens of countries will be impacted.

20
00:01:09,640 --> 00:01:12,840
Speaker 1: And today President Trump said he's not considering a pause

21
00:01:13,360 --> 00:01:17,120
Speaker 1: that despite outreach from trading partners eager to avoid these

22
00:01:17,160 --> 00:01:20,319
Speaker 1: new levies. Even so, Trump did signal he could be

23
00:01:20,400 --> 00:01:22,120
Speaker 1: open to some form of negotiation.

24
00:01:22,480 --> 00:01:25,119
Speaker 3: Well, we're not look into that. We have many, many

25
00:01:25,560 --> 00:01:28,959
Speaker 3: countries that are coming to negotiate deals with US, and

26
00:01:29,000 --> 00:01:32,520
Speaker 3: they're going to be fair deals. In certain cases, they're

27
00:01:32,560 --> 00:01:35,160
Speaker 3: going to be be paying substantial tariffs.

28
00:01:35,200 --> 00:01:38,360
Speaker 1: Speaking from the Oval Office, Trump said tariffs were very

29
00:01:38,400 --> 00:01:41,959
Speaker 1: important to his economic agenda and they generally would remain

30
00:01:42,520 --> 00:01:45,000
Speaker 1: At the same time, he opened the door to fair

31
00:01:45,040 --> 00:01:49,080
Speaker 1: and good deals with every country. And Japan is one

32
00:01:49,080 --> 00:01:52,120
Speaker 1: of the many countries coming to the negotiating table. Here

33
00:01:52,200 --> 00:01:56,160
Speaker 1: is Treasury Secretary Scott Besson speaking earlier to Fox Business.

34
00:01:56,520 --> 00:02:00,560
Speaker 4: There are fifty sixty, maybe almost seventy countries is now

35
00:02:01,120 --> 00:02:04,320
Speaker 4: whoever approached us, So it's going to be a busy

36
00:02:04,720 --> 00:02:09,399
Speaker 4: April May, maybe into June. And Japan is a very

37
00:02:09,440 --> 00:02:14,680
Speaker 4: important military ally, they're very important economic ally, and the

38
00:02:14,800 --> 00:02:18,000
Speaker 4: US has a lot of history with them, So I

39
00:02:18,000 --> 00:02:22,960
Speaker 4: would expect that Japan's going to get priority just because

40
00:02:23,120 --> 00:02:24,840
Speaker 4: they came forward very quickly.

41
00:02:24,919 --> 00:02:28,359
Speaker 1: That is US Treasury Secretary Scott Besant speaking to Fox

42
00:02:28,440 --> 00:02:32,119
Speaker 1: Business Now, Trump has assigned Besant and US Trade Rep.

43
00:02:32,240 --> 00:02:36,040
Speaker 1: Jamison Greer to lead these bilateral talks with Japan. A

44
00:02:36,160 --> 00:02:39,480
Speaker 1: twenty four percent reciprocal tariff on Japan is scheduled to

45
00:02:39,520 --> 00:02:44,000
Speaker 1: begin on Wednesday. Prime Minister Ishibai expressed concern. He also

46
00:02:44,240 --> 00:02:48,120
Speaker 1: urged the US to reconsider. President Trump also threatened to

47
00:02:48,240 --> 00:02:52,160
Speaker 1: slap an additional fifty percent tariff fon Chinese goods if

48
00:02:52,480 --> 00:02:56,880
Speaker 1: Beijing does not withdraw it's planned retaliatory tariffs by April eighth.

49
00:02:57,200 --> 00:03:01,239
Speaker 3: As you know, against my statement, they put a thirty

50
00:03:01,240 --> 00:03:06,000
Speaker 3: four percent tariff on above what their ridiculous tariffs were already,

51
00:03:06,840 --> 00:03:10,040
Speaker 3: and I said of that tariff isn't removed by tomorrow

52
00:03:10,040 --> 00:03:13,160
Speaker 3: at twelve o'clock, we're putting a fifty percent tariff on

53
00:03:13,360 --> 00:03:15,799
Speaker 3: above the tariffs that we put on.

54
00:03:16,280 --> 00:03:19,480
Speaker 1: Well. Now, China has responded the government saying the US

55
00:03:19,560 --> 00:03:22,920
Speaker 1: threat to escalate tariffs against China is a mistake on

56
00:03:23,040 --> 00:03:26,480
Speaker 1: top of a mistake, which once again exposes the US's

57
00:03:26,560 --> 00:03:30,679
Speaker 1: blackmailing nature. And it continues in saying that China will

58
00:03:30,720 --> 00:03:34,000
Speaker 1: never accept this if the US insist on going its

59
00:03:34,000 --> 00:03:37,280
Speaker 1: own way. China will fight to the end. The equity

60
00:03:37,320 --> 00:03:40,760
Speaker 1: market was tossed about today by conflicting news on tariffs.

61
00:03:40,800 --> 00:03:43,880
Speaker 1: We had shares jumping early on reports that President Trump

62
00:03:43,960 --> 00:03:46,920
Speaker 1: was considering a pause for ninety days, but those gains

63
00:03:46,920 --> 00:03:50,360
Speaker 1: evaporated when the White House said the remarks were fake news.

64
00:03:50,920 --> 00:03:54,320
Speaker 1: Then renewed selling occurred when President Trump threatened China with

65
00:03:54,480 --> 00:03:57,120
Speaker 1: an additional fifty percent levy. We had the S and

66
00:03:57,160 --> 00:04:00,640
Speaker 1: P five hundred swinging by more than eight percent points

67
00:04:00,680 --> 00:04:03,040
Speaker 1: in for day, and at the end of the day

68
00:04:03,040 --> 00:04:06,320
Speaker 1: the benchmark was down two tenths of one percent. Cheryl

69
00:04:06,320 --> 00:04:09,760
Speaker 1: Smith is an economist and portfolio manager at Trillium.

70
00:04:10,280 --> 00:04:13,720
Speaker 5: I think that this chaos that we're seeing is going

71
00:04:13,800 --> 00:04:19,680
Speaker 5: to continue. For whatever reason, Trump likes to work in chaos.

72
00:04:19,760 --> 00:04:21,920
Speaker 5: He appears to think that he keeps people on their

73
00:04:21,960 --> 00:04:24,200
Speaker 5: back foot and that he can gain some kind of

74
00:04:24,240 --> 00:04:25,200
Speaker 5: advantage from it.

75
00:04:25,680 --> 00:04:29,520
Speaker 1: That is Cheryl Smith, economist and portfolio manager at Trillium.

76
00:04:30,160 --> 00:04:34,400
Speaker 1: College basketball has a national champion. The Florida Gators beat

77
00:04:34,400 --> 00:04:38,320
Speaker 1: the Houston Cougar sixty five sixty three. And that is

78
00:04:38,400 --> 00:04:40,600
Speaker 1: news when you want it. With Bloomberg News, Now, I'm

79
00:04:40,640 --> 00:04:42,520
Speaker 1: Doug Krisner, and this is Bloomberg.