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

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Speaker 1: Doug Chrisner. We begin in Canada, where leaders of the

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Speaker 1: G seven nations gathered for their summit in Alberta. President

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Speaker 1: Trump cut short his visit and is returning to Washington.

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Speaker 1: Here is Bloomberg's David Gura from the sidelines of the

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Speaker 1: G seven.

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Speaker 2: Well, we knew that conflict in the Middle East was

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Speaker 2: overshadowing the official agenda here at the G seven summit.

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Speaker 2: It's what all the world leaders were talking about. Is

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Speaker 2: they made their way here, they issued statements, and a

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Speaker 2: big open question was how was Donald Trump going to

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Speaker 2: respond to it when he got here on the ground,

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Speaker 2: and we saw over the course of this the first

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Speaker 2: day of the summit a lot of those world leaders

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Speaker 2: trying to get everyone on board with a statement about

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Speaker 2: Israel and Iran, calling on both of those countries to

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Speaker 2: de escalate the situation. President Trump decided not to sign

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Speaker 2: on to that. So that was a dramatic step.

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Speaker 1: That was Bloomberg's David Gura. Now, President Trump has called

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Speaker 1: for the evacuation of Iran's capital city, Tehran. In a

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Speaker 1: post tonight on Truth Social Trump said Iran cannot have

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Speaker 1: a nuclear weapon, and that it's a shame and a

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Speaker 1: waste of human life that they did not sign a

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Speaker 1: deal to limit their nuclear program earlier today. Trump also

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Speaker 1: said that Iran wants to talk about de escalating the

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Speaker 1: conflict with Israel now. His statements come as the two

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Speaker 1: sides exchanged deadly fire for a fourth consecutive day. Here

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Speaker 1: is President Trump.

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Speaker 3: Israel is doing very well, as you probably noticed. And

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Speaker 3: I gave Iran sixty days and they said no. And

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Speaker 3: the sixty first you saw what happened day sixty one.

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Speaker 3: So I'm in constant touch. And as I've been saying,

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Speaker 3: I think a deal will be signed or something will happen,

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Speaker 3: but a deal will be signed, and I think Iran

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Speaker 3: is foolish not to sign one.

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Speaker 1: That is President Trump speaking there. We also heard today

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Speaker 1: from Israeli Prime Minister Benjamin Netnyaho. He said he is

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Speaker 1: not confident that Iran wants to have more talks in

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Speaker 1: good faith, and Netanyahu said Israeli forces are going after

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Speaker 1: Iran's nuclear and ballistic missile programs. Here is Netanyaho's speaking

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Speaker 1: to ABC News.

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Speaker 4: They want to continue to have these fake talks in

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Speaker 4: which they lie. They achieat they stringer the US along,

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Speaker 4: and you know, we have very solid intel on that.

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Speaker 4: But of course they want to keep on building their

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Speaker 4: nuclear weapons and building their mass ballistic missile arsenal which

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Speaker 4: they're firing at our people.

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Speaker 1: Israeli a Prime minister Benjamin Netniya, who's speaking to ABC News.

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Speaker 1: Ukraine's capital city of Kiev is enduring another massive drone

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Speaker 1: and missile attack, with air defenses working all over the city.

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Speaker 1: A preliminary assessment from Kiev's military administration indicates twenty civilians

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Speaker 1: have been injured, Residential areas and private vehicles have been damaged,

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Speaker 1: and electricity supply has been interrupted in several districts. This

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Speaker 1: week sets the stage for several Central Bank decisions. The

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Speaker 1: main event is Wednesday, when the FED decides. Dana Peterson

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Speaker 1: is chief economist at the Conference Board.

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Speaker 5: Fundamentally, the US economy is fine. We are still at

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Speaker 5: full employment, even though you do have some layoffs on

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Speaker 5: the margin. It's really difficult to pinpoint them to say,

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Speaker 5: you know, fiscal policy or even the tariffs. Yet also

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Speaker 5: inflation that continues to slow. And yes, we did have

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Speaker 5: some strange data in the first quarter with respect to

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Speaker 5: GDP but when you look at domestic demand, it was fine.

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Speaker 1: That's Dana Peterson from the Conference Board. The Senate has

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Speaker 1: released its version of President Trump's tax bill. It expands

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Speaker 1: some tax breaks while raising the debt ceiling by five

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Speaker 1: trillion dollars. It also renews President Trump's twenty seventeen tax

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Speaker 1: cuts for households and small businesses. However, the bill includes

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Speaker 1: the current ten thousand dollars cap on state and local

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Speaker 1: taxes as a placeholder. That's because lawmakers could not come

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Speaker 1: to a deal on the amount of the state and

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Speaker 1: local tax deduction, which is part of the House version

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Speaker 1: at forty thousand dollars. Got reaction from Arkansas Republican Congressman

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Speaker 1: French Hill. He spoke on Bloomberg's balance of power.

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Speaker 6: I think the Senators are working overtime on their process

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Speaker 6: of reviewing the big beautiful bill see what changes they

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Speaker 6: would make. But I agree with Mike Johnson, our speaker,

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Speaker 6: when he said, look, there's room in the tax proposals,

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Speaker 6: and there's room in the spending proposals for Senate review

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Speaker 6: and Senate changes. But it's not like you're going to

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Speaker 6: tear the whole house down and build a new house.

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Speaker 6: We've laid the foundation. We've built a solid House that

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Speaker 6: has a very balanced set of votes in the House

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Speaker 6: among Republicans.

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Speaker 1: That is Arkansas Republican Congressman French Hills speaking there on

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Speaker 1: the Balance of Power podcast. By the way, the Senate

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Speaker 1: is aiming to pass this legislation by July fourth, and

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Speaker 1: that is news when you want it. With Bloomberg News now,

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