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

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Speaker 1: Monica Ricks. President Trump just imposed a ten percent global

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Speaker 1: tariff that, according to his true social posts, will be

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Speaker 1: effective almost immediately. Earlier today, Trump slamed the Supreme Court

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Speaker 1: for rejecting his sweeping tariff policy.

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Speaker 2: The Supreme Court's ruling on tariffs is deeply disappointing, and

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Speaker 2: I'm ashamed of certain members of the Court, absolutely ashamed

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Speaker 2: for not having the courage to do what's right for

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Speaker 2: our country.

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Speaker 1: The ruling could now leave the federal government on the

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Speaker 1: hook for billions of dollars in tariff reefunds to thousands

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Speaker 1: of businesses. It could also compromise agricultural trade. Caleb Ragland

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Speaker 1: is president of the American Soybean Association and a soybean

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Speaker 1: farmer in Kentucky. He says he's afraid China could stop

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Speaker 1: buying their crop again.

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Speaker 3: Fifty percent of soybeans are exported, and soybeans are the

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Speaker 3: largest agriculture export from the United States, so it's very

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Speaker 3: vital not only to the ag economies, but also to

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Speaker 3: rural America and the economy of this country as a whole.

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Speaker 1: Ragland says there's been over a billion dollars in tariff

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Speaker 1: costs passed on to soybean farmers over the last year.

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Speaker 1: The White House clarified Mexico and Canada are exempt from

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Speaker 1: tariffs on many goods shipped under the US Mexico Canada agreement,

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Speaker 1: but tariffs on goods that don't qualify will still be lower.

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Speaker 1: Trump had imposed thirty five percent tariffs on Canada and

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Speaker 1: twenty five percent on Mexico. Officials from both countries, though,

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Speaker 1: say they are still cautious since punishing tariffs are still

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Speaker 1: in place on steel, aluminum, cars, and other categories. The

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Speaker 1: USMC is also up for review this summer, and the

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Speaker 1: White House has already made it clear it wants changes.

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Speaker 1: The Supreme Court's ruling today is also causing some confusion

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Speaker 1: now in Europe Here's Bloomberg Stan Schwartzman.

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Speaker 4: European Union lawmakers will be holding an emergency meeting on

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Speaker 4: Monday to reassess the blocks trade deal with the US.

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Speaker 4: The European Parliament's Trade Committee had been expected to vote

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Speaker 4: to move forward with the ratification process of the agreement,

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Speaker 4: but the Supreme Court's ruling has cast down on the

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Speaker 4: timeline and the entire record The trade packed would have

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Speaker 4: erased tariffs on most American goods and set a fifteen

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Speaker 4: percent tariff on U products. Dan Schwartzman, Bloomberg Radio.

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Speaker 1: The ruling also set off a quick and dramatic pop

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Speaker 1: in the market, led by companies hit hardest by the levees,

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Speaker 1: including retailers such as Target, Abercrombie, Dollar Tree, and companies

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Speaker 1: whose products are mostly made overseas like Apple, Mattel and Nike. Overall,

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Speaker 1: the Dow added two hundred and thirty one points, the

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Speaker 1: Nasdaq was up two oh three, and after a brief drop,

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Speaker 1: the S and P bounced back, adding forty eight points.

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Speaker 4: The ten year.

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Speaker 1: Treasury yields at four point eight percent, the two year

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Speaker 1: yields at three point four to seven percent, and thousands

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Speaker 1: of companies could now sue the government for billions in

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Speaker 1: tariff refunds, but Treasury Secretary Scott Besset says that process

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Speaker 1: could take a while.

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Speaker 5: It's in dispute. Supreme Court did not roll on that today.

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Speaker 5: They pushed it back down to the international tax and

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Speaker 5: trade and my senses that could be dragged out for weeks, months, years.

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Speaker 1: Beson speaking at the Economic Club of Dallas, he says

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Speaker 1: revenue collected from tariffs will be virtually unchanged. In twenty

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Speaker 1: twenty six, President Trump says he's considering limited strikes on

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Speaker 1: Iran if it can't agree to a nuclear weapons deal

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Speaker 1: in the next fifteen days. The ultimatum comes as the

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Speaker 1: Trump administration continues building the largest US military presence in

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Speaker 1: the Middle East in decades. Congress could intervene, though, and

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Speaker 1: vote as soon as next week to block Trump's ability

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Speaker 1: to strike Iran without their approval. Paramount Skuidance claims there's

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Speaker 1: not much standing in the way of its proposed acquisition

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Speaker 1: of Warner Brothers Discovery after clearing an anti trust hurdle.

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Speaker 1: Warner Brothers has given Paramount till February twenty third to

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Speaker 1: submit its best and final offer, but the Justice Department

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Speaker 1: could still block that transaction. Both Paramount and Netflix also

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Speaker 1: face scrutiny from the European Union. More than three million

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Speaker 1: pounds of frozen rice products from Trader Joes are getting

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Speaker 1: recalled now after customers complained about finding glass in their food.

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Speaker 1: If you bought their chicken fried rice with stir fried Veggie's,

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Speaker 1: food safety experts are urging you to throw it away.

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Speaker 1: So far, no injuries have been reported, and the Department

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Speaker 1: of Transportation announced today that all truckers and bus drivers

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Speaker 1: will have to take their commercial driver's licensed tests in English.

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Speaker 1: Secretary Sean Duffy says they want to get unqualified drivers

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Speaker 1: off the road. Florida's already started, but many states still

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Speaker 1: allow drivers to take their tests in multiple languages. California

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Speaker 1: offers it in twenty American skier Alex Ferrera just snagged

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Speaker 1: gold in the free ski halfpipe at the Milano Cortina Olympics,

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Speaker 1: his mom joking he got to finish the rainbow since

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Speaker 1: he'd won silver and bronze at his last two games.

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Speaker 1: It also marked Team USA's tenth gold medal at the

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Speaker 1: Winter Games. The Americans have twenty nine overall could get

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Speaker 1: one more Sunday too, with the US men's hockey team

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Speaker 1: playing in the gold medal game against Canada. They beat

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Speaker 1: Slovakia today six to two. And that's news when you

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Speaker 1: want it with Blue Boberg News. Now, I'm Monica Rix

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Speaker 1: and this is Blueberg