Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Christner.
Speaker 1: The US Supreme Court is allowing President Trump to resume
Speaker 1: deporting alleged to Venezuelan gang members under the Alien Enemies Act.
Speaker 1: In the five to four vote, the justices overturned a
Speaker 1: lower court decision that had put a temporary stop to
Speaker 1: these deportations. And we got reaction from Bloomberg Law host
Speaker 1: June Grosso.
Speaker 2: What the justices said is they have to be allowed
Speaker 2: to have this due process, and they should do it
Speaker 2: by habeas corpus petition basically, and it should be filed
Speaker 2: in the jurisdiction where they're being held. Well, they're being
Speaker 2: held in Texas, and you know, Texas immigration courts are
Speaker 2: not as show we say, sympathetic to migrants as courts
Speaker 2: and other jurisdictions, for example New York and DC.
Speaker 1: That is Bloomberg's June Grosso. Now, the justices did not
Speaker 1: address the issue of whether the Trump administration improperly categorized
Speaker 1: the Venezuelans as deportable under the Alien Enemies Act. Targeted
Speaker 1: reciprocal tariffs on imports to the US are set to
Speaker 1: take effect on Wednesday. Dozens of countries will be impacted.
Speaker 1: And today President Trump said he's not considering a pause
Speaker 1: that despite outreach from trading partners eager to avoid these
Speaker 1: new levies. Even so, Trump did signal he could be
Speaker 1: open to some form of negotiation.
Speaker 3: Well, we're not look into that. We have many, many
Speaker 3: countries that are coming to negotiate deals with US, and
Speaker 3: they're going to be fair deals. In certain cases, they're
Speaker 3: going to be be paying substantial tariffs.
Speaker 1: Speaking from the Oval Office, Trump said tariffs were very
Speaker 1: important to his economic agenda and they generally would remain
Speaker 1: At the same time, he opened the door to fair
Speaker 1: and good deals with every country. And Japan is one
Speaker 1: of the many countries coming to the negotiating table. Here
Speaker 1: is Treasury Secretary Scott Besson speaking earlier to Fox Business.
Speaker 4: There are fifty sixty, maybe almost seventy countries is now
Speaker 4: whoever approached us, So it's going to be a busy
Speaker 4: April May, maybe into June. And Japan is a very
Speaker 4: important military ally, they're very important economic ally, and the
Speaker 4: US has a lot of history with them, So I
Speaker 4: would expect that Japan's going to get priority just because
Speaker 4: they came forward very quickly.
Speaker 1: That is US Treasury Secretary Scott Besant speaking to Fox
Speaker 1: Business Now, Trump has assigned Besant and US Trade Rep.
Speaker 1: Jamison Greer to lead these bilateral talks with Japan. A
Speaker 1: twenty four percent reciprocal tariff on Japan is scheduled to
Speaker 1: begin on Wednesday. Prime Minister Ishibai expressed concern. He also
Speaker 1: urged the US to reconsider. President Trump also threatened to
Speaker 1: slap an additional fifty percent tariff fon Chinese goods if
Speaker 1: Beijing does not withdraw it's planned retaliatory tariffs by April eighth.
Speaker 3: As you know, against my statement, they put a thirty
Speaker 3: four percent tariff on above what their ridiculous tariffs were already,
Speaker 3: and I said of that tariff isn't removed by tomorrow
Speaker 3: at twelve o'clock, we're putting a fifty percent tariff on
Speaker 3: above the tariffs that we put on.
Speaker 1: Well. Now, China has responded the government saying the US
Speaker 1: threat to escalate tariffs against China is a mistake on
Speaker 1: top of a mistake, which once again exposes the US's
Speaker 1: blackmailing nature. And it continues in saying that China will
Speaker 1: never accept this if the US insist on going its
Speaker 1: own way. China will fight to the end. The equity
Speaker 1: market was tossed about today by conflicting news on tariffs.
Speaker 1: We had shares jumping early on reports that President Trump
Speaker 1: was considering a pause for ninety days, but those gains
Speaker 1: evaporated when the White House said the remarks were fake news.
Speaker 1: Then renewed selling occurred when President Trump threatened China with
Speaker 1: an additional fifty percent levy. We had the S and
Speaker 1: P five hundred swinging by more than eight percent points
Speaker 1: in for day, and at the end of the day
Speaker 1: the benchmark was down two tenths of one percent. Cheryl
Speaker 1: Smith is an economist and portfolio manager at Trillium.
Speaker 5: I think that this chaos that we're seeing is going
Speaker 5: to continue. For whatever reason, Trump likes to work in chaos.
Speaker 5: He appears to think that he keeps people on their
Speaker 5: back foot and that he can gain some kind of
Speaker 5: advantage from it.
Speaker 1: That is Cheryl Smith, economist and portfolio manager at Trillium.
Speaker 1: College basketball has a national champion. The Florida Gators beat
Speaker 1: the Houston Cougar sixty five sixty three. And that is
Speaker 1: news when you want it. With Bloomberg News, Now, I'm
Speaker 1: Doug Krisner, and this is Bloomberg.