WEBVTT - House Rejects Trump Tariffs; GOP Passes Voter ID Bill

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning.

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<v Speaker 3>I'm Nathan Hager and I'm Karen Moscow. Here are the

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<v Speaker 3>stories we're following today.

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<v Speaker 2>Karen, we begin with a big blow this morning to

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<v Speaker 2>President Donald Trump's tariff policies. Bloomberg's John Tucker joins us

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<v Speaker 2>with the latest. Good morning, John, Good morning, Nathan.

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<v Speaker 4>Republican led House has passed a resolution to rescind President

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<v Speaker 4>Trump's tariffs on Canada. Six Republicans joined nearly all Democrats

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<v Speaker 4>in passing the measure.

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<v Speaker 5>On this vote, the Yas are two nineteen and the

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<v Speaker 5>Naser two eleven. Their joint resolution is passed without objection.

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<v Speaker 5>The motion to reconsider is laid on the table even

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<v Speaker 5>if it does pass the Senate. Now, President Trump would

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<v Speaker 5>veto it, so this is all about sending a message.

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<v Speaker 5>The House vote signals a growing rift within the Republican

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<v Speaker 5>Party with the midterm elections approaching. The GOP and those

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<v Speaker 5>members who voted for it have to face their constituents

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<v Speaker 5>who are increasingly worried about affordability. That Wednesday's vote happened

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<v Speaker 5>at all actually represents a blow to House Speaker Mike Johnson,

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<v Speaker 5>a top Trump ally who had spearheaded a block on

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<v Speaker 5>bringing tarn related bills to the floor for months, and

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<v Speaker 5>the passage also comes as the president is privately waing

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<v Speaker 5>quitting the US Mexico Canada trade pack that he signed

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<v Speaker 5>during his first term. Following the vote, Trump wrote on

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<v Speaker 5>social media, any Republican in the House or the Senate

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<v Speaker 5>that votes against tariffs will seriously suffer the consequences come

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<v Speaker 5>election time. That includes primaries in New York. On John

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<v Speaker 5>Tucker Bloomberg Radio, all.

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<v Speaker 3>Right, John, thank you well. House Republicans have also approved

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<v Speaker 3>legislation that would impose strict new voter ID requirements ahead

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<v Speaker 3>of the midterm elections. The bill is a Trump administration

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<v Speaker 3>priority aimed at scrutinizing ballot access, but it faces blowback

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<v Speaker 3>in the Senate. The legislation requires Americans to present proof

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<v Speaker 3>of citizenship when they register to vot vote and to

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<v Speaker 3>show a valid photo identification before they cast ballots. Republicans

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<v Speaker 3>say it's needed to prevent voter fraud. Democrats sworn it'll

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<v Speaker 3>make it harder for millions of Americans to vote.

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<v Speaker 6>Yah Elsewhere.

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<v Speaker 2>On Capitol Hill, Karen Attorney General Pam Bondi had a

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<v Speaker 2>contentious hearing before the House Judiciary Committee on the Jeffrey

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<v Speaker 2>Epstein case and her agency's investigations into President Trump's political opponents.

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<v Speaker 2>The committee's top Democrat, Jamie Raskin, accused Bondi of turning

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<v Speaker 2>the Justice Department into an instrument of revenge.

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<v Speaker 7>You replace real prosecutors with counterfeit stooges who robotically.

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<v Speaker 3>Do the president's bidding.

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<v Speaker 6>Nothing in American history comes close.

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<v Speaker 2>And Democrat Jamie Raskin accused the Justice Department of redacting

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<v Speaker 2>the names of abusers and co conspirators in the Epstein files,

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<v Speaker 2>not just as victims. Bondi apologized for what Epstein's victims experienced,

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<v Speaker 2>but Democrat Primila Jayapaul asked if she would turn to

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<v Speaker 2>face the victims who were in the audience to deliver

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<v Speaker 2>that apology.

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<v Speaker 8>Mister Chairman, why I have asked see austinar at Garland.

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<v Speaker 3>This I'm reclaiming.

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<v Speaker 8>I will claim my time.

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<v Speaker 6>Reclaimed.

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<v Speaker 2>Get in the gutter for her theatrics. Attorney General Pam

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<v Speaker 2>Bondi flipped through a binder throughout the hearing to deliver

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<v Speaker 2>attacks at individual lawmakers. She says the Justice Department has

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<v Speaker 2>pending investigations related to Jeffrey Epstein, but she did not elaborate.

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<v Speaker 3>Nathan. Federal agents are looking along roadways in the Catalina Foothills.

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<v Speaker 3>This is the search for the eighty four year old

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<v Speaker 3>mother of Today's show host Savannah Guthrie continues. They're looking

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<v Speaker 3>near Tucson as part of the investigation into the disappearance

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<v Speaker 3>of Nancy Guthrie. The Pima County Sheriff's Department and the FBI,

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<v Speaker 3>so that they are following up on eighteen thousand tips

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<v Speaker 3>and here's retired FBI agent Richard Frankel.

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<v Speaker 5>Eighteen thousand and what a week and a half.

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<v Speaker 3>That number is staggering. After nine to eleven, we had,

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<v Speaker 3>I believe eighteen to twenty thousand in two years and

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<v Speaker 3>retired FBI agent Richard Frankel. The FBI has also released

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<v Speaker 3>images of a masked person on Nancy Guthrie's porch the

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<v Speaker 3>night she went missing their Tucson. Guthrie was reported missing

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<v Speaker 3>on February first.

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<v Speaker 2>Trained to Geopolitics Now Caring, the death toll from the

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<v Speaker 2>crackdown over Iron's nationwide protests last month has reportedly reached

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<v Speaker 2>more than seven thousand. The US based human rights activist

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<v Speaker 2>news agency, which offered the latest figures has been accurate

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<v Speaker 2>in counting deaths during previous rounds of unrest in Iran.

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<v Speaker 2>It relies on a network of activists to verify those deaths.

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<v Speaker 2>The rise in the death toll comes as Iran tries

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<v Speaker 2>to negotiate with the US over its nuclear program.

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<v Speaker 3>Nathan, President Trump's energy chief, has arrived in Venezuela to

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<v Speaker 3>be with the nation's new leader and assess its energy infrastructure.

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<v Speaker 3>Energy Secretary Chris Wright met with Acting President Delci Rodriguez

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<v Speaker 3>and Caracas as the US pushes to revive Venezuela's oil sector.

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<v Speaker 3>Bloomberg's and Marie hor Dern is traveling with the Energy

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<v Speaker 3>Secretary and has more. Secretary Chris Wright.

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<v Speaker 9>Of the Energy Department met with Acting President Delci Rodriguez.

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<v Speaker 9>The two discussed business ventures and how how't you collaborate

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<v Speaker 9>further when it comes to energy, mining and electricity in

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<v Speaker 9>the country. Secretary Wright said he came here the message

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<v Speaker 9>from President Trump was that he wants to make the

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<v Speaker 9>Americas great again and he wants to transform this relationship.

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<v Speaker 9>He continuously talks about you can transform a relationship with

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<v Speaker 9>commerce instead of boots on the ground. I'm Amina Herdern

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<v Speaker 9>in Caracas, Venezuela, and this is Bloomberg.

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<v Speaker 2>All right, Emory, thank you. We turned to the markets now.

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<v Speaker 2>Futures are higher this morning after yesterday's declines, with shares

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<v Speaker 2>of Cisco are sinking. They're down nearly eight percent. In

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<v Speaker 2>early training, the largest maker of networking equipment, gave a

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<v Speaker 2>weaker than expected forecast, spurring concerns that mounting memory hip

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<v Speaker 2>prices are taking a toll. The outlook overshadowed and upbeat

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<v Speaker 2>sales forecast fueled by growing artificial intelligence revenue.

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<v Speaker 3>Nathan sales and the US for McDonald's grow at the

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<v Speaker 3>fastest pace in more than two years. They jumped six

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<v Speaker 3>point eight percent. The company's focus on affordability helped to

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<v Speaker 3>improve in the fourth quarter. Abby Roach is a senior

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<v Speaker 3>portfolio analyst at all Spring Global Investments.

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<v Speaker 8>I'd say they're doing a couple things. While they're leading

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<v Speaker 8>into the value for consumers who are seeking that out

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<v Speaker 8>and who are really feeling stretched. They've got different offerings

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<v Speaker 8>across different price points, across five dollars eight dollars, being

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<v Speaker 8>able to add things on for a dollar, so they're

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<v Speaker 8>really focused there. But also they're not letting their foot

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<v Speaker 8>off the gas in terms of the marketing and the innovation.

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<v Speaker 3>Abby roach at all Spring Global Investments and Shures. The

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<v Speaker 3>McDonald's are down a third of up percent this morning.

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<v Speaker 2>Karen Ai Company Andthropics nearing completion of a deal to

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<v Speaker 2>raise more than twenty billion dollars. Bloomberg News has learned.

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<v Speaker 2>The funding round is co led by investors including Peter

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<v Speaker 2>Thial's founder's fund, d E. Shaw and Dragoneer Investment Group,

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<v Speaker 2>and Thropics set to be valued at about three hundred

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<v Speaker 2>and fifty billion dollars. The deal could be announced as

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<v Speaker 2>early as this week.

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<v Speaker 3>Nathan Applied Materials will pay more than a quarter of

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<v Speaker 3>a billion dollars to settle a Commerce Department investigation into

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<v Speaker 3>improper exports to China. Settlement ending a year's long saga

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<v Speaker 3>for the largest American supplier of chip making machinery.

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<v Speaker 2>Now we got some moretal news this morning. Karen Neuveen

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<v Speaker 2>is buying Schroders for thirteen and a half billion dollars.

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<v Speaker 2>The acquisition creates one of the world's largest active asset managers,

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<v Speaker 2>with nearly two and a half trillion dollars in assets.

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<v Speaker 2>This ends more than two centuries of independence for the

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<v Speaker 2>UK's largest standalone asset manager, although the Schroders brand will

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<v Speaker 2>be retained.

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<v Speaker 3>Time now for look at some of the other stories

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<v Speaker 3>making news in New York and around the world, and

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<v Speaker 3>for that we're joined by Bloomberg's Michael Barr.

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<v Speaker 6>Michael, good Morning, Good morning, Karen. Canadian authorities say the

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<v Speaker 6>suspect in the school shooting in British Columbia was an

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<v Speaker 6>eighteen year old who had a history of police visits

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<v Speaker 6>to her home to check on her mental health. Police

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<v Speaker 6>said the suspect, Jesse Van Rootseller, first killed her mother

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<v Speaker 6>and stepbrother at the family home before attacking the nearby school,

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<v Speaker 6>resulting in eight fatalities. Dwayne McDonald is with the British

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<v Speaker 6>Columbia Royal Canadian Mounted Police. I can say that the.

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<v Speaker 10>Suspect was not related to any of the victims of

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<v Speaker 10>the school. I don't have any broader information beyond that

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<v Speaker 10>of it and say that the suspect was related to

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<v Speaker 10>the two victims at the private residents.

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<v Speaker 6>Dwayne McDonald with the Royal Canadian Mounted Police said Van

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<v Speaker 6>Rootseller was found dead from an apparent self inflicted wound

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<v Speaker 6>following the assault on the school in the small community

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<v Speaker 6>of tumblr Ridge, striking nurses at two of the three

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<v Speaker 6>New York City hospitals ratified their new contracts, ending a

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<v Speaker 6>five week strike. Rank and filed union members at Matafior

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<v Speaker 6>and Mount syin I voted overwhelmingly to approve the new

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<v Speaker 6>three year contracts. However, the strike will continue for over

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<v Speaker 6>four thousand nurses at New York Presbyterian. Some nurses there

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<v Speaker 6>say they were being pressured by the union to approve

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<v Speaker 6>a contract that the local negotiating team rejected. In a

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<v Speaker 6>statement from New York Presbyterian, the proposal includes, among other things,

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<v Speaker 6>the same four percent yearly wage increases for all three hospitals.

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<v Speaker 6>The San Francisco teachers strike enters its fourth day. Teachers

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<v Speaker 6>are demanding better pay and benefits. Public school teacher Leslie

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<v Speaker 6>Hughes says they're also fighting for their students and their families.

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<v Speaker 8>I hope that we can get this done as soon

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<v Speaker 8>as possible, and educators here as standing with our families

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<v Speaker 8>and students, are prepared to go as long as it

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<v Speaker 8>takes until we have a signed agreement.

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<v Speaker 6>The strike closed public schools for more than fifty thousand

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<v Speaker 6>students in the city. Global News twenty four hours a

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<v Speaker 6>day and whenever you want it with Bloomberg News Now.

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<v Speaker 6>I'm Michael Barr, and this is Bloomberg Karen.

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<v Speaker 3>Thanks Michael. Time now for our Bloomberg Sports updating. For that,

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<v Speaker 3>we bring in John Stashauer.

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<v Speaker 7>Thanks Karin. Second straight day at the Olympics where the

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<v Speaker 7>United States won five medals, of this time two gold

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<v Speaker 7>Liz Lanley only twenty years old. She had never been

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<v Speaker 7>in an Olympic event before. She one golden freestyle skiing

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<v Speaker 7>and twenty one year old Jordan Stoles one in speed skating.

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<v Speaker 7>He may end up winning four gold medals. The NBA,

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<v Speaker 7>after that fight between the Pistons and Hornets, suspended four players,

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<v Speaker 7>including Detroit's Isaiah Stewart, who got seven games he had

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<v Speaker 7>left the bench. That's your Bloomberg Sports update.

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<v Speaker 3>Stay with us. More from Bloomberg day Break coming up

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<v Speaker 3>after this.

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<v Speaker 1>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 6>Good morning.

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<v Speaker 2>I'm Nathan Hager. President Trump's signature economic policy has just

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<v Speaker 2>taken a blow on Capitol Hill. The House has voted

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<v Speaker 2>to repeal the president's tariffs on goods from Canada. Democrats

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<v Speaker 2>are promising more votes to come. Six Republicans joined with

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<v Speaker 2>Democrats on this vote, including California's Kevin Kylie.

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<v Speaker 11>We should have these debates, Let's have the discussion.

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<v Speaker 9>Let's do so in front of the America and people.

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<v Speaker 11>That's what you know representative government is all about.

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<v Speaker 2>I was California Republican Kevin Kylie joining us now as

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<v Speaker 2>Bloomberg's Laura Davison and Laura, we know that Congressman Kylie's

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<v Speaker 2>facing a pretty tough reelection fight in California. Politics definitely

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<v Speaker 2>plays a role in this vote last night. Good morning,

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<v Speaker 2>good morning.

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<v Speaker 11>Yes, this vote wasn't so much about actually being able

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<v Speaker 11>to rescind these tariffs, but more giving some of these

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<v Speaker 11>members an opportunity to come out and come out against

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<v Speaker 11>these tariffs. You saw that the six Republicans who joined

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<v Speaker 11>with Democrats are folks who either you know, have have

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<v Speaker 11>clashed with the president of the past Thomas Massey for example,

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<v Speaker 11>or represent some of these these moderate swing districts where

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<v Speaker 11>they could be vulnerable. You know, we're starting to see,

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<v Speaker 11>you know, Republicans really come out against some of the tariffs.

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<v Speaker 11>There was a lot of vote no hope yes yesterday

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<v Speaker 11>among House Republicans in terms of you know, wanting to

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<v Speaker 11>see this uh, you know, not wanting to stand out

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<v Speaker 11>and specifically rebuke the president, but they're recognizing that there's

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<v Speaker 11>a messaging issue with voters that you know, voters are

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<v Speaker 11>not happy with the economy. They think prices are too high,

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<v Speaker 11>and they recognize that that tariffs are contributing to a

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<v Speaker 11>piece of that.

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<v Speaker 2>Getting to those affordability concerns that the President in the

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<v Speaker 2>past has called something that's fake. How could this play

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<v Speaker 2>out heading into the midterms.

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<v Speaker 11>Laura, Yeah, this is the fight that we're likely to

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<v Speaker 11>see really grow. You know, this vote, you know this

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<v Speaker 11>week was just about the Canada tariffs. Democrats or even

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<v Speaker 11>some Republicans could continue to bring up different resolutions to

0:12:26.920 --> 0:12:29.360
<v Speaker 11>strike down different portions of these tariffs. So it could

0:12:29.400 --> 0:12:32.640
<v Speaker 11>be the Brazil terariffs, for example, or are the tariffs

0:12:32.679 --> 0:12:34.959
<v Speaker 11>on Mexico. So this is a way to kind of

0:12:35.040 --> 0:12:37.200
<v Speaker 11>keep this issue alive, even though it doesn't have any

0:12:37.679 --> 0:12:42.720
<v Speaker 11>strong policy implications, but keeps the political messaging of this ahead.

0:12:43.000 --> 0:12:45.160
<v Speaker 2>And of course this comes at a time where Bloomberg

0:12:45.200 --> 0:12:48.280
<v Speaker 2>News has learned that President Trump is privately talking about

0:12:48.360 --> 0:12:52.240
<v Speaker 2>walking away from the US Mexico Canada Agreement, not that

0:12:52.320 --> 0:12:55.600
<v Speaker 2>he's made a decision, but at least floating the idea.

0:12:55.800 --> 0:12:58.920
<v Speaker 2>I mean, what could that mean in terms of ongoing

0:12:58.960 --> 0:12:59.720
<v Speaker 2>trade pressure?

0:13:00.360 --> 0:13:02.959
<v Speaker 11>This would really be a huge trade shift. You know,

0:13:03.000 --> 0:13:06.280
<v Speaker 11>about eighty percent of goods that flow between the US, Mexico,

0:13:06.360 --> 0:13:09.079
<v Speaker 11>and Canada are covered by this trade pact, which would mean,

0:13:09.120 --> 0:13:10.800
<v Speaker 11>you know, if the US were to exit that all

0:13:10.840 --> 0:13:12.840
<v Speaker 11>of those rules of the road would go away. So

0:13:12.960 --> 0:13:15.040
<v Speaker 11>if you know, you know, the if people think that

0:13:15.080 --> 0:13:17.559
<v Speaker 11>the tariffs right now on US of the the US

0:13:17.600 --> 0:13:19.960
<v Speaker 11>is opposed on Canada and Mexico are big, this would

0:13:20.000 --> 0:13:23.160
<v Speaker 11>really be a complete sea change. So this is something

0:13:23.200 --> 0:13:25.079
<v Speaker 11>that you know Trump, you know, as he goes into

0:13:25.080 --> 0:13:28.080
<v Speaker 11>these tariff negotiations, he likes to take these maximalist positions.

0:13:28.240 --> 0:13:30.040
<v Speaker 11>So that's how some are interpreting this move of that

0:13:30.040 --> 0:13:32.240
<v Speaker 11>Trump is sort of taking, you know, or at least

0:13:32.280 --> 0:13:34.600
<v Speaker 11>considering taking a a you know, sort of an extreme

0:13:34.640 --> 0:13:37.439
<v Speaker 11>position that then he could you know, kind of moderate

0:13:37.480 --> 0:13:38.800
<v Speaker 11>as the discussions go on.

0:13:39.360 --> 0:13:41.600
<v Speaker 2>In our last minute, Laura, let's talk about the hearing

0:13:41.679 --> 0:13:44.880
<v Speaker 2>of the House Judiciary Committee for Attorney General Pam Bondi

0:13:44.960 --> 0:13:48.400
<v Speaker 2>or first appearance since October. Apart from the shouting, did

0:13:48.440 --> 0:13:50.719
<v Speaker 2>anything of substance come out of it? As far as

0:13:50.720 --> 0:13:51.040
<v Speaker 2>you saw.

0:13:51.800 --> 0:13:53.920
<v Speaker 11>The big headline here is that she did mention that

0:13:53.960 --> 0:13:57.760
<v Speaker 11>there are that the Justice Department is investigating various things

0:13:57.800 --> 0:14:00.319
<v Speaker 11>related to Epstein, but she did not elaborate. You know,

0:14:00.360 --> 0:14:02.480
<v Speaker 11>the Justice Department has said previously that they were looking

0:14:02.480 --> 0:14:06.520
<v Speaker 11>into Democrats, including Larry Summers, Bill Clinton, and other Democratic

0:14:06.520 --> 0:14:09.600
<v Speaker 11>donors as in terms of what they knew about Epstein,

0:14:10.600 --> 0:14:12.360
<v Speaker 11>but it was clear that she said there are still

0:14:12.360 --> 0:14:16.439
<v Speaker 11>these investigations going on, but did not give any details

0:14:16.440 --> 0:14:17.880
<v Speaker 11>as to what that might be or what we could

0:14:17.920 --> 0:14:18.920
<v Speaker 11>expect to see in the future.

0:14:20.640 --> 0:14:24.040
<v Speaker 3>This is Bloomberg Daybreak, your morning podcast on the stories

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