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Speaker 1: News when you wanted with Bloomberg News Now, I'm Doug Prisner.

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Speaker 1: President Trump assigned a proclamation banning travel from a list

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Speaker 1: of twelve countries.

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Speaker 2: We cannot have open migration from any country where we

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Speaker 2: cannot safely and reliably vet and screen those who seek

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Speaker 2: to enter the United States. That is why today I

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Speaker 2: am signing a new executive order placing travel restrictions on

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Speaker 2: countries including Yemen, Somalia, Haiti, Libya, and numerous others.

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Speaker 1: That was President Trump speaking there By the way. The

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Speaker 1: other countries are Afghanistan, Mian, mahar Chad, Republic of the Congo,

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Speaker 1: Equatorial Guinea, Eritrea, and Iran. President Trump assigned an executive

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Speaker 1: action to prevent foreign nationals from entering the US to

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Speaker 1: study at Harvard University. Trump accused the university of not

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Speaker 1: fully reporting disciplinary records for foreign students, and he also

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Speaker 1: accused Harvard of partnering with Chinese research in ways that

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Speaker 1: could advance Beijing's military modernization effort. Senate Republicans are now

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Speaker 1: looking to build a path forward to pass President Trump's

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Speaker 1: Big Beautiful Bill. The Senate Finance Committee met today with

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Speaker 1: President Trump. They discussed scaling back the cap on state

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Speaker 1: and local taxes. Here is Senate Majority Leader John Thune.

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Speaker 3: We are all in this together. This is a team

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Speaker 3: effort and everybody is going to be rolling in the

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Speaker 3: same direction to get this across the finish line. Failure

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Speaker 3: is not an option, and we didn't intend to deliver

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Speaker 3: along with the President for the American people on the

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Speaker 3: things that he committed to do and that we committed

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Speaker 3: to do in terms of the agenda.

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Speaker 1: That was Senate Majority Leader John Thune. Also today, the

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Speaker 1: Congressional Budget Office estimated the bill will add two point

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Speaker 1: four trillion dollars to the deficit over a decade, and

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Speaker 1: we got reaction to that from Democratic Senator Peter Welch

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Speaker 1: of Vermont.

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Speaker 4: What I'm concerned about is not the policy of the

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Speaker 4: death ceiling. I'm concerned about the policy of fiscal policy

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Speaker 4: of inc. You're seeing the debt that's going to increase

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Speaker 4: our interest rates and doesn't going into any productive pro

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Speaker 4: growth activities.

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Speaker 1: That is Senator Peter Welch from Vermont. Elon Musk is

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Speaker 1: on a mission to block President Trump's signature tax bill,

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Speaker 1: and we are told at stems from Musk trying and

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Speaker 1: failing to convince Republican lawmakers to preserve valuable tax credits

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Speaker 1: for electric vehicles. Earlier, on social media, Musk urged Americans

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Speaker 1: to contact their lawmakers to quote kill the legislation. We

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Speaker 1: heard from House Speaker Mike Johnson. He said, Musk promise

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Speaker 1: to help re elect Republicans. Just a day before calling

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Speaker 1: the GOP spending package and abomination.

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Speaker 5: Elon and I left on a great note. We were

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Speaker 5: texting one another, you know, happy text, you know, Monday,

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Speaker 5: and then yesterday, you know, twenty four hours later, he

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Speaker 5: doesn't want eighty and he comes out and opposed the bill.

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Speaker 5: And it surprised me, frankly, and it's curious to me

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Speaker 5: what happened this week. And I just I mean full disclosure.

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Speaker 5: Elon and I had a great conversation about it, half

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Speaker 5: hour long talk on Monday this week, Monday morning, and

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Speaker 5: we talked about the big beautiful bill because he made

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Speaker 5: he I think he was trying to make a joke

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Speaker 5: a couple of days earlier. It can't be big and beautiful.

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Speaker 5: And I started the conversation, Oh yes it can, my friend,

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Speaker 5: It's very beautiful.

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Speaker 1: How Speaker Mike Johnson, speaking earlier to reporters by the way.

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Speaker 1: Tomorrow's speaker, Johnson, will join Bloomberg Surveillance at seven thirty

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Speaker 1: am Wall Street time. Columbia University no longer appears to

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Speaker 1: meet accreditation standards. The Department of Education arrived at that

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Speaker 1: conclusion after finding Columbia violated anti discrimination laws during recent

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Speaker 1: pro Palestinian protest. Education Secretary Linda McMahon said the university

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Speaker 1: failed to protect Jewish students, and the DOE has alerted

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Speaker 1: Columbia's accreditor here is Bloomberg's a Kayla Gardner in Washington.

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Speaker 6: So the Education Department doesn't actually have the power to

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Speaker 6: pull the accreditation, but they are asking the entity that

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Speaker 6: has approved Columbia's creditation to reconsidering it, say that they

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Speaker 6: have violated civil rights obligations that they have as a university.

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Speaker 6: And essentially what we have seen here is this is

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Speaker 6: a new strategy that the administration has in pursued you.

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Speaker 1: That is Bloomberg's at Kala Gardner reporting back in March,

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Speaker 1: the Trump administration did pull some four hundred million dollars

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Speaker 1: in federal grants and contracts from Columbia, and last month,

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Speaker 1: university President Claire Shipman announced one hundred eighty job cuts

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Speaker 1: After reductions to that federal funding, Kimberly Clark has reportedly

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Speaker 1: nearing the sale of its international tissue business. The Wall

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Speaker 1: Street Journal reports a price tag of roughly three and

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Speaker 1: a half billion dollars. Nintendo is launching the switch To

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Speaker 1: globally today. It has a four hundred and fifty dollars

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Speaker 1: price tag, and retailers are preparing for high demand. In Japan,

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Speaker 1: Nintendo told AFP the company's online store had two point

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Speaker 1: two million pre orders, Nintendo saying it's an insane number

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Speaker 1: the industry has never seen before. And here in the States,

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Speaker 1: best Buy is expecting to sell out of its allotment

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Speaker 1: of Switch To consoles shortly after they become available for

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Speaker 1: purchase at midnight. And that is news when you want

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Speaker 1: it with Bloomberg News. Now, I'm Doug Prisoner, and this

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Speaker 1: is Bloomberg