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

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Speaker 1: Doug Krisner, and we begin in Washington, where a key

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Speaker 1: procedural vote is underway in the House on President Trump's

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Speaker 1: tax and spending bill. The New York Times site's comments

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Speaker 1: from House Speaker Mike Johnson to Sean Hannity of Fox

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Speaker 1: Johnson said the President called him and asked who else

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Speaker 1: needs to have a discussion. Johnson was quoted as saying,

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Speaker 1: mister President, you've done your job. We'll do ours. Here

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Speaker 1: here he is Johnson.

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Speaker 2: Well, it's been a long, productive day. We've been talking

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Speaker 2: with members from across the conference and making sure that

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Speaker 2: everyone's concerns are addressed and their questions are answered, and

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Speaker 2: it's been a good day. We're in a good place

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Speaker 2: right now. This is the legislative process. This is exactly

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Speaker 2: how I think the Framers intended for it to work.

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Speaker 1: That was House Speaker Mike Johnson speaking there. There was

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Speaker 1: a sell off in the UK bond market today. That

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Speaker 1: was after the Labor Party made a U turn and

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Speaker 1: scrapped plans to reduce welfare spending. This move will make

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Speaker 1: it harder for Chancellor of the Exchequer Rachel Reeves to

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Speaker 1: adhere to her self imposed fiscal rules, and after British

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Speaker 1: Prime Minister Keir Starmer failed to support her, Reeves became

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Speaker 1: visibly emotional in an appearance in the House of Commons,

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Speaker 1: and that in turn led to speculation over her replacement

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Speaker 1: and potential changes in UK fiscal policies. However, later in

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Speaker 1: an interview with the BBC, Starmer denied it was a disaster.

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Speaker 3: What I will say is that she's done an excellent

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Speaker 3: job as chancellor. We have delivered inward investments in this

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Speaker 3: country in record numbers, one hundred and twenty billion pounds,

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Speaker 3: not to be measured in jobs. We've created conditions for

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Speaker 3: wages to go up, and we've jointly worked on spending review,

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Speaker 3: which is very broadly popular. She's done a fantastic job.

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Speaker 1: That was British Prime Minister Keir Starmer there Later, his

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Speaker 1: office reaffirmed the PM's support for Reeves and cited a

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Speaker 1: personal matter as the reason for her emotional state. Now

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Speaker 1: many bond traders see Reeves as their preferred chancellor because

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Speaker 1: of her commitment to restrict UK borrowing. The equity market

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Speaker 1: rose to record highs today. That was after President Trump

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Speaker 1: said he reached a trade deal with Vietnam, and in

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Speaker 1: the process, Vietnam will avoid higher tariffs that were set

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Speaker 1: to take effect next week. Under this agreement, the US

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Speaker 1: will impose a twenty percent tariff on Vietnamese imports and

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Speaker 1: then a forty percent levy on goods that appear to

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Speaker 1: be rerooted from other countries like China. Here is Bloomberg

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Speaker 1: Shaan Donnan.

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Speaker 4: What China is worried about is exactly a deal like this,

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Speaker 4: something that isolates them, that isolates Chinese companies, that applies

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Speaker 4: a higher tire freight to them. We still don't know

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Speaker 4: the details here, but you know, will this apply the

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Speaker 4: Chinese companies that have factories in Vietnam or will it

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Speaker 4: just apply to the products that are that are made

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Speaker 4: in China and are coming through Vietnam.

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Speaker 1: That is Bloomberg Shawn Donnan, reporting from Washington Now. Shares

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Speaker 1: today in Nike and other apparel and footwear companies rose

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Speaker 1: on the hope that this deal will avert a potentially

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Speaker 1: disruptive problem for supply chains. Nike shares were up about

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Speaker 1: four percent a day after seven weeks of graphic testimony

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Speaker 1: and three days of deliberations, the jury in the trial

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Speaker 1: of Sean Diddy, Comb's delivered a mixed verdict. The rap

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Speaker 1: mogul was found not guilty of sex trafficking and racketeering. However,

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Speaker 1: he was convicted on two counts of transporting prostitutes. Here

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Speaker 1: is defense attorney Mark Magnifilo.

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Speaker 5: You saw that the Southern District of New York prosecutors

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Speaker 5: came at him with all that they had. They're not stopping.

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Speaker 5: But one thing stands between all of us and a prison,

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Speaker 5: and that is a jury of twelve citizens.

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Speaker 1: That was defense attorney Mark Agnifilo speaking there.

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Speaker 4: Now.

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Speaker 1: The judge in this case has denied Diddy bond. He

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Speaker 1: still faces up to twenty years on lesser charges. Brian

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Speaker 1: Coburger admitted today to murdering four University of Idaho students

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Speaker 1: back in November twenty twenty two. In an Idaho courtroom.

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Speaker 1: Coburger took a plea deal of guilty, and that means

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Speaker 1: he will not get the death penalty. However, Coburger will

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Speaker 1: get consecutive life sentences. In court, Judge Stephen Hipler read

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Speaker 1: the plea agreement to Coburger.

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Speaker 6: Has anyone promised you that I would be leaning or

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Speaker 6: easy on you if you played guilty. No, has anyone

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Speaker 6: threatened you or anyone close to you to get you

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Speaker 6: to plead guilty. No is anyone other than the state's

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Speaker 6: agreements with respect to the plea agreement. Has anyone promised

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Speaker 6: you anything in exchange for your plea agreement? No, has

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Speaker 6: anyone told you to be untruthful in answering my questions today.

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Speaker 1: No, that is Judge Stephen Hipler speaking to Brian Coberger,

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Speaker 1: And that is news what you wanted with Bloomberg News. Now,

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Speaker 1: I'm Doug Chrisner, and this is Bloomberg