WEBVTT - Bondi Out as Attorney General, US Adjusts Tariffs for Broad Metals, More

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<v Speaker 1>News when you want it with Bloomberg News Now, I'm

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<v Speaker 1>Doug Prisner. Pam Bondy is leaving her position as US

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<v Speaker 1>Attorney General today. In a post on truth Social President

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<v Speaker 1>Trump said, BONDI will transition to a new job in

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<v Speaker 1>the private sector. Deputy ag Todd Blanche will serve as

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<v Speaker 1>acting Attorney General, and we are told President Trump has

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<v Speaker 1>discussed nominating EPA administrator Lee Zelden as a successor. Here

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<v Speaker 1>is Matthew Seligman, founder of Greyhawk Law.

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<v Speaker 2>Well. I think it's telling that Lee Zelden's name is

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<v Speaker 2>being floated right now when Todd Blanche is the acting

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<v Speaker 2>Attorney General. He's been in the Department of Justice since

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<v Speaker 2>the beginning of this second term. He's served President Trump

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<v Speaker 2>in a private capacity during the criminal prosecutions a President Trump,

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<v Speaker 2>and yet the obvious choice perhaps is not being floated

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<v Speaker 2>as the next choice. The reason why I think that's

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<v Speaker 2>telling is because Todd Blanche, who is a very good lawyer,

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<v Speaker 2>is also not a TV personality. And something that we've

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<v Speaker 2>seen across President Trump's first and second term is that

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<v Speaker 2>what he once out of his cabinet officials is not

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<v Speaker 2>only the execution of his policies and his priorities, but

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<v Speaker 2>also a certain type of ability to present on TV

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<v Speaker 2>and before Congress.

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<v Speaker 1>As Matthew Seligman, founder of Greyhawk Law. Meantime, President Trump

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<v Speaker 1>is reportedly weighing more changes to members of his cabinet.

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<v Speaker 1>Politico reports Trump has expressed frustration and disappointment with Commerce

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<v Speaker 1>Secretary Howard Lutnik and Labor Secretary Lorie Chavez Derrimer. According

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<v Speaker 1>to Politico, Trump is very angry and he's going to

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<v Speaker 1>be moving people. The Trump administration is reshaping its tariff

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<v Speaker 1>policy on steel, aluminum, and copper. A tariff of fifty

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<v Speaker 1>percent will be maintained on many imported steel, aluminum and

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<v Speaker 1>copper products, and at the same time, goods made with

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<v Speaker 1>total steel, aluminum or copper content below fifteen percent will

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<v Speaker 1>effectively be exempted, and some other derivative goods will be

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<v Speaker 1>subject to a lower twenty five percent rate if they

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<v Speaker 1>are deemed to be substantially made of one of those medals.

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<v Speaker 1>Here is Henrietta trays of Veda Partners.

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<v Speaker 3>The President is being sued by hundreds of companies for

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<v Speaker 3>the changes that he made to steal an aluminum terraff,

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<v Speaker 3>impacting downstream derivatives since last year. And it's because he

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<v Speaker 3>violated the Administrative Procedures Act, which is, he provided an

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<v Speaker 3>undue burden to so many companies with the constant changing

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<v Speaker 3>of tariffs that they sued him for and they were

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<v Speaker 3>potentially going to win that lawsuit. And that's why the

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<v Speaker 3>USDR is coming out and commerce coming out with a

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<v Speaker 3>blanket understanding of where the tireff rates are going to be.

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<v Speaker 1>That is Henrietta Trays of Veda partners. Now. At the

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<v Speaker 1>same time, the Trump administration will impose tariffs on certain

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<v Speaker 1>imported medicines with rates of as much as one hundred

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<v Speaker 1>percent to pressure drug makers to manufacture more in the US.

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<v Speaker 1>President Trump issued fresh threats today on Iranian infrastructure in

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<v Speaker 1>a bid to pressure to i ran in negotiations. In

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<v Speaker 1>a post on truth Social Trump said the biggest bridge

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<v Speaker 1>in Iran was destroyed by airstrikes. Now. Trump's comments and

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<v Speaker 1>the continued strikes on Iran are complicating efforts by the

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<v Speaker 1>US and partners to broker a deal with the Islamic

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<v Speaker 1>Republic that will include reopening the Strait of horm Moves. Meantime,

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<v Speaker 1>the UK convened more than forty US allies to discuss

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<v Speaker 1>plans to reopen the Strait. International allies are threatening Iran

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<v Speaker 1>with more sanctions if it does not agree to unblock

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<v Speaker 1>this critical shipping lane. Here is British Foreign Secretary of

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<v Speaker 1>at Cooper.

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<v Speaker 4>Now that we are facing these reckless Iranian attacks on

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<v Speaker 4>international shipping, affecting countries from across the globe who played

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<v Speaker 4>no part in this conflict, and more than forty countries

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<v Speaker 4>coming together for these discussions today, we're clear that we

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<v Speaker 4>need the diplomatic pressure, the economic pressure, and also the

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<v Speaker 4>work that's being done separately by military planners on how

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<v Speaker 4>to keep shipping safe for the long term when the

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<v Speaker 4>conflict conclude.

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<v Speaker 1>That is British Foreign Secretary of at Cooper. Meantime, three

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<v Speaker 1>oil tankers broadcasting Omani ownership appeared to enter the straight

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<v Speaker 1>of hoorm Moace by hugging the coastline of their home country. Meantime,

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<v Speaker 1>Iran is reportedly drafting a protocol with Oman to monitor

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<v Speaker 1>traffic through the Strait. Iran's deputy foreign minister told Russian

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<v Speaker 1>state media that shippers would be required to pay tolls

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<v Speaker 1>to the Islamic Republic. SpaceX has boosted its target IPO

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<v Speaker 1>valuation above two trillion dollars. The world's most valuable startup

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<v Speaker 1>is gearing up to pitch investors in potentially the biggest

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<v Speaker 1>ever market debut. We are told the company and its

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<v Speaker 1>advisors are floating the two trillion dollar figure to prospective

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<v Speaker 1>investors ahead of meetings in the coming weeks. Now, Bloomberg

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<v Speaker 1>News has already reported that SpaceX filed confidentially for an

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<v Speaker 1>IPO that could take place in June. President Trump's new

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<v Speaker 1>White House ballroom has received final design approval from a

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<v Speaker 1>key commission. More from Bloomberg's Ammy Morrison, Washington.

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<v Speaker 5>The approval comes after a federal judge ordered a halt

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<v Speaker 5>construction unless Congress approves the project. A spokesperson for the

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<v Speaker 5>National Capital Planning Commission, which Trump has packed with allies,

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<v Speaker 5>says the judge's ruling affects construction activities, not planning. Still,

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<v Speaker 5>the judge's ruling and the legal fight over the ballroom

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<v Speaker 5>could stall progress on the project that Trump once completed

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<v Speaker 5>before his term ends in early twenty twenty nine. The

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<v Speaker 5>ballroom is estimated to cost four hundred million dollars and

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<v Speaker 5>has faced opposition and legal challenges in Washington. Amy Morris,

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<v Speaker 5>Bloomberg Radio.

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<v Speaker 1>The US Environmental Protection Agency has proposed adding microplastics and

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<v Speaker 1>pharmaceuticals to its list of drinking water contaminants. Now this

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<v Speaker 1>could lead to regulations of those compounds. Thepa's announcement begins

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<v Speaker 1>a process to consult with scientists. It also opens a

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<v Speaker 1>public comment period. The regulatory process would likely take several years.

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<v Speaker 1>Here is Health Secretary Robert F. Kennedy Junior.

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<v Speaker 2>This is not a rare exposure. This baseline, we are

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<v Speaker 2>not dealing with a distant or theoretical risk. We are

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<v Speaker 2>dealing with a measurable and growing presence inside the human body.

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<v Speaker 1>The Trump administration touted the moon as a win for

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<v Speaker 1>the Make America Healthy Again movement. And that is news

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

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<v Speaker 1>and this is Bloombery