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

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Speaker 1: Doug Prisner. President Trump is threatening to impose a fifty

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Speaker 1: percent tariff on goods from Brazil, and he cited the

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Speaker 1: treatment of former Brazilian president Jaiir Balsonaro. Trump called on

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Speaker 1: Brazilian authorities to drop charges against Balsonaro over an alleged

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Speaker 1: coup attempt. Here is Bloomberg's Laura Davison.

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Speaker 2: And this seems to be a completely different justification, almost

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Speaker 2: in a separate bucket, which may suggest that this may

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Speaker 2: be on a different negotiating track than some of the

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Speaker 2: other letters we've seen over the past three days.

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Speaker 1: That is Bloomberg's Laura Davison. Later in the day, we

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Speaker 1: heard from Brazil's current president, Luise Ignacio Lula de Silva.

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Speaker 1: He said any measure to raise tariff's unilaterally will be

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Speaker 1: answered in light of the Brazilian law of economic reciprocity.

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Speaker 1: President Trump also announced to tariff on copper of fifty

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Speaker 1: percent effective August first. The chair of the US Council

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Speaker 1: of Economic Advisors is Stephen Myron. He was asked why

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Speaker 1: the administration is targeting copper with the fifty percent tariff.

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Speaker 3: You know there are certain critical minerals, of which copper

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Speaker 3: is one that you just absolutely need if you're going

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Speaker 3: to have manufacturing sector, and having a manufacturing sector is important,

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Speaker 3: not just economically because it tends to be a high capital,

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Speaker 3: high productivity field.

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Speaker 1: You can hear more from Steven Myron on the Bloomberg

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Speaker 1: Talks podcast. Minutes of the last FED meeting show an

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Speaker 1: emerging divide among officials over expectations for how those tariffs

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Speaker 1: might impact inflation. A few participants said tariffs would lead

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Speaker 1: to a one time increase in prices and would not

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Speaker 1: affect longer term inflation expectations. However, most participants said tariffs

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Speaker 1: could have a more persistent impact on inflation. Stephen Skankey

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Speaker 1: is chief Economic advisor at keel Point.

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Speaker 4: I mean, it's great that President Trump is not concerned

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Speaker 4: about tariffs and inflation, but the rest of the economy

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Speaker 4: and even financial markets certainly have that as something that

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Speaker 4: they are concerned about.

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Speaker 1: Steven Skanky there the chief economic advisor at keel Point.

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Speaker 1: We go to Texas next, where search and rescue efforts

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Speaker 1: are ongoing after that devastating flash flood over the fourth

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Speaker 1: of July weekend. More than one hundred people are confirmed

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Speaker 1: dead and at least one hundred people are still missing

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Speaker 1: in Kerr County, the hardest hit area of the Texas

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Speaker 1: Hill Country. We heard from Texas Governor Greg Abbott. He

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Speaker 1: said rescue crews will continue working until every single person

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Speaker 1: is accounted for. We also heard from Larry Leitha, the

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Speaker 1: sheriff of Kern County.

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Speaker 5: It's all hands on deck. Everybody we got are out here.

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Speaker 5: But also we have an additional two thousand plus people

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Speaker 5: helping us. But as far as our patrol division, you

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Speaker 5: know they're right now. They're involved in answer and calls.

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Speaker 5: You have to remember we still got day to day

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Speaker 5: calls we have to handle, but they're also involved in

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Speaker 5: different kinds of rescue and recovery ECPORT.

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Speaker 1: Larry Letha there. He is the sheriff of Kerk County, Texas.

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Speaker 1: President Trump's pick to lead the National Oceanic and Atmospheric

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Speaker 1: Administration or NOAH is Neil Jacobs, and today he faced

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Speaker 1: lawmakers and a confirmation hearing. It came just days after

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Speaker 1: those fatal floods in Texas. NOAH manages the National Weather Service,

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Speaker 1: and there have been questions on whether the cuts to NOAH,

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Speaker 1: including those affecting. The National Weather Service played a role

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Speaker 1: in a lack of warning about the floods. Jacobs told

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Speaker 1: lawmakers that if confirmed, he will make upgrades to the

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Speaker 1: weather forecasting system.

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Speaker 2: If confirmed, one of my top priorities is to return

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Speaker 2: the United States to the world's leader in global weather

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Speaker 2: forecast modeling capability. As a matter of public safety, national security,

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Speaker 2: and national pride. We will restore American technological superiority with

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Speaker 2: his vital service for the country and our military serving

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Speaker 2: around the world.

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Speaker 1: Neil Jacobs, speaking there. President Trump welcomed leaders of five

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Speaker 1: African nations to the White House today, where he hailed

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Speaker 1: the continent's economic potential. More from Bloomberg's Amy Morrison Washington.

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Speaker 6: President Trump says the US is shifting from aid to trade,

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Speaker 6: and he suggested the assembled countries could be exempt from

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Speaker 6: planned recip tariffs, calling them quote friends of mine now,

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Speaker 6: as his administration seeks to expand US access using what

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Speaker 6: he calls a common sense tariff formula.

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Speaker 7: The formula was a formula based on common sense, based

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Speaker 7: on deficits, based on how we've been treated, and based

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Speaker 7: on raw numbers.

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Speaker 6: The summit aims to spur deals in a region rich

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Speaker 6: in minerals, with the five countries offering potential investment opportunities

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Speaker 6: in areas like iron ore and natural gas in Washington,

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Speaker 6: Amy Morris, Bloomberg Radio.

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Speaker 1: This year, Amazon expanded its annual Prime Day summer sale

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Speaker 1: from two days to four days. However, sales plunged forty

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Speaker 1: one percent on Tuesday when compared with the start of

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Speaker 1: the event last year. This analysis, by the way, comes

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Speaker 1: from Momentum Commerce. Here is Jamil Ghani, vice president at

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Speaker 1: Amazon Prime.

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Speaker 8: We just started the event yesterday, so it's very early,

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Speaker 8: but we're really pleased by the engagement that we're getting

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Speaker 8: from our customers and our members. Not only is event

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Speaker 8: twice as long, so four days, but we're also offering

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Speaker 8: more than double the number of deals that are fifty

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Speaker 8: percent off or more.

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Speaker 1: Jammielghani, their vice president at Amazon Prime. And 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 Prisner, and this is Bloomberg and that is news

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

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Speaker 1: and this is Bloomberg