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

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Speaker 1: We begin with President Trump's attempt to limit birthright citizenship.

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Speaker 1: It's been blocked once again by a federal court. A

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Speaker 1: judge in New Hampshire has granted a preliminary injunction against

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Speaker 1: enforcement of Trump's order while the case proceeds, and at

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Speaker 1: the same time, the judge agreed to provisionally certify the

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Speaker 1: case as a class action lawsuit representing all affected babies

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Speaker 1: and parents. Here is Jonathan Adler, Professor at William and

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Speaker 1: Mary Law School.

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Speaker 2: The judge identified a particular class of similarly situated parties

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Speaker 2: that are to be affected by this executive order in

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Speaker 2: the same way, and you know it's in the same

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Speaker 2: time frame. It is at least a more direct and

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Speaker 2: legally grounded way of joining what the federal government has

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Speaker 2: said it's going to do than the use of a

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Speaker 2: so called universal injunction.

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Speaker 1: That is Jonathan Adler, Professor at William and Mary Law School.

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Speaker 1: President Trump is planning to impose blanket tariffs of either

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Speaker 1: fifteen or twenty percent on most US trading partners. Now,

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Speaker 1: those blanket tariffs are currently set at ten percent. Speaking

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Speaker 1: tonight to NBC News, Trump dismissed concerns that further tariffs

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Speaker 1: could negatively affect the stock market or drive inflation higher. Separately,

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Speaker 1: in a post untruth social Trump said the US will

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Speaker 1: impose a tariff of thirty five percent on Canadian products

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Speaker 1: beginning August first. Meantime, a US official said Trump is

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Speaker 1: set to keep the tariff exemption for all goods compliant

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Speaker 1: with the US MCA. Here is Bloomberg's Jill deesis.

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Speaker 3: This USMCA that the trade agreement between the US and

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Speaker 3: Canada and Mexico, that those goods aren't included in this

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Speaker 3: thirty five percent tariff threat. I think that's really really

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Speaker 3: important because what that ultimately tells us, then, is that

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Speaker 3: what Trump's ultimately doing. It appears, and again I have

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Speaker 3: to caution this is a very quickly evolving story, but

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Speaker 3: what that does mean potentially is that this is essentially

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Speaker 3: a ten percent tariff increase over a group of goods

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Speaker 3: that were covered already with a twenty five percent tariff.

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Speaker 1: That was Bloomberg's Jill Deesis. In that same NBC interview,

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Speaker 1: Trump said he's planning to make a major statement on Russia.

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Speaker 1: It will happen on Monday. He also said he's expecting

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Speaker 1: the Senate to pass a tougher sanctions bill regarding Russia.

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Speaker 1: Earlier today, Secretary of State Marco Rubio met with Russia's

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Speaker 1: Foreign Minister Sergei Lavrov on the sidelines of a gathering

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Speaker 1: of Southeast Asian nations in Malaysia, and Rubio said Trump

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Speaker 1: is not happy with a lack of progress toward peace

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Speaker 1: talks between Russia and Ukraine. Look, the present's been pretty clear.

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Speaker 1: He's disappointed and frustrated that there's not been more a

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Speaker 1: flexibility on the Russian side to bring about an end

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Speaker 1: to this conflict. That was Secretary of State Marco Rubio

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Speaker 1: speaking there. His remarks, by the way, came as Russia

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Speaker 1: launched a new barrage of drone and missile strikes on

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Speaker 1: the Ukrainian capital of Kiev. Meantime, the State Department ANNOW

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Speaker 1: bounced plans today to lay off some US based diplomats

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Speaker 1: and other employees.

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Speaker 2: Now.

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Speaker 1: That move comes after the Supreme Court rule that the

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Speaker 1: Trump administration can go ahead with plans to cut the

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Speaker 1: size of the federal workforce. Here is State Department spokesperson

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Speaker 1: Tammy Bruce. It will happen quickly. This is not going

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Speaker 1: to be an extended wait for people who are listening

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Speaker 1: and watching in this building or film Americans at home

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Speaker 1: and around the world.

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Speaker 2: This will happen quickly.

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Speaker 1: That is State Department spokesperson Tammy Bruce there speaking on

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Speaker 1: those job cuts. US equities are once again trading at

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Speaker 1: record highs. That story from Bloomberg's Charlie Pellett.

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Speaker 4: The S and P five hundred index now stands at

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Speaker 4: sixty to eighty, barely taking out the previous record on

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Speaker 4: July third. Emily Rowland is co chief investment Officer at

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Speaker 4: JH Investments.

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Speaker 5: Earnings have been great S and P five hundred and

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Speaker 5: thirteen percent last quarter. Analysts are estimating about five percent

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Speaker 5: in Q two, So the bars lower that's a great thing.

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Speaker 4: Are caught up in a mix of sometimes contradictory risks

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Speaker 4: surrounding the tariff rollout, fiscal policy, and the outlook for

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Speaker 4: the Federal Reserve in New York. Charlie Bloomberg Radio, and

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Speaker 4: that is.

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Speaker 1: News when you want it with Bloomberg News. Now, I'm

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Speaker 1: Doug Chrisener, and this is Bloomberg