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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning.

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Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 3: stories we're following today.

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Speaker 2: Karen, we begin with another shooting involving federal agents, this

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Speaker 2: time in Portland, Oregon. Let's get the latest from Bloomberg's

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Speaker 2: John Tucker, John and Nathan.

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Speaker 4: The Department of Homeland Security sent a Border patrol agent

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Speaker 4: in Portland, quote fired a defensive shot at a vehicle

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Speaker 4: after the driver quote weaponized it and drove off. Oregon's

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Speaker 4: governor is Tina Kotek.

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Speaker 3: We are all shaken and outraged by another terrible, unnecessary,

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Speaker 3: violent event instigated by the reckless agenda of the Trump administration.

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Speaker 4: A Portland police chief, Bob Day, told reporters that two

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Speaker 4: people were later taken to a hospital. He did not

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Speaker 4: know their conditions.

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Speaker 2: We found a male and a female with apparent gunshot wounds.

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Speaker 2: Officers apply to tourniquet and some of emergency medical personnel.

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Speaker 4: The Portland shooting occurs a day after an ice officers

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Speaker 4: shot and killed woman in Minneapolis. In that shooting, the

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Speaker 4: FBI is taking control over the probe over the objections

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Speaker 4: of Governor Tim Waltz. A state authorities question whether a

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Speaker 4: federal probe could be trusted, especially given comments by Trump

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Speaker 4: administration officials but seem to exonerate the officer in that

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Speaker 4: fatal shooting. Homeland Security Secretary Christy Nolmes said Minnesota doesn't

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Speaker 4: have jurisdiction. Vice President JD. Vance said the agent who

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Speaker 4: fired the deadly shot is protected by absolute immunity. I'm

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Speaker 4: John Tucker, Bloomberg Radio.

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Speaker 3: All right, John, thank you. We want to get to

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Speaker 3: breaking news out of the White House. President Trump said

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Speaker 3: he's canceling a planned a second wave of strikes on

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Speaker 3: Venezuela and a truth social post overnight. The President said

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Speaker 3: the country is releasing large numbers of political prisoners as

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Speaker 3: a sign of seeking peace, and both countries are working

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Speaker 3: well together to rebuild Venezuela's oil and gas infrastructure. President

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Speaker 3: Trump's post comes as he prepares to host nearly twenty

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Speaker 3: US energy executives at the White House today. The President

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Speaker 3: also said he's open to meeting with Venezuela's opposition leader,

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Speaker 3: Maria Corino Machado.

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Speaker 5: I understand she's coming in next week sometime, and I

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Speaker 5: look forward to saying hello too.

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Speaker 3: And I've heard that she wants to do that to

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Speaker 3: be a great honor. President Trump spoke there on Fox

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Speaker 3: News and the truth is social posts. The President said

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Speaker 3: all ships will stay in place around Venezuela for safety

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Speaker 3: and security reasons.

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Speaker 2: In staying with Foreign Policy Karen, the US is reportedly

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Speaker 2: considering paying Greenland's residents up to one hundred thousand dollars each.

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Speaker 2: That's according to Reuters, which says the payments would be

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Speaker 2: intended to convince Greenland to split from Denmark. Wendy Schiller

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Speaker 2: is a professor of political science at Brown University.

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Speaker 6: They're probably gonna have to go home and they will

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Speaker 6: have to interact with the constituents, you know, most of

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Speaker 6: elect to avoid town hall now, and they're going to

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Speaker 6: explain why US resources are both in Venezuela and possibly

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Speaker 6: going after Greenland, which I think Congress would probably stand

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Speaker 6: up and say, no, you can't use US money to

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Speaker 6: buy Greenland or even go into Greenland for any length

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Speaker 6: of time.

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Speaker 2: Brown University's Wendy Schuller. Secretary of State Marco Rubio has

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Speaker 2: said he will meet with Danish officials next week.

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Speaker 3: Oh, we head to the Middle East now, Nathan, where

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Speaker 3: Iran is restricting internet and phone access after thousands of

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Speaker 3: demonstrators took to the streets across the country to protest

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Speaker 3: a lost of living crisis began. More from Bloomberg News

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Speaker 3: Middle East Managing editor Paul Wallace.

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Speaker 7: The unrest worsened last night quite significantly. We saw very

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Speaker 7: big crowds in Tehran. By all accounts. While information or

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Speaker 7: it's coming out of our own it's very hard to

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Speaker 7: verify at the moment, it does seem that what happened

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Speaker 7: last night was certainly the biggest protests in the capital

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Speaker 7: since this all began in late December.

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Speaker 3: And Bloomberg's Paul Wallace says the demonstration started after a

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Speaker 3: sharp decline in the value of Around's currency worsened a

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Speaker 3: cost of living crisis in the sanctions hit economy.

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Speaker 2: Turning back to the nation's capital, now, Karen, the Supreme

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Speaker 2: Court's got an opinion today and we could see some

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Speaker 2: major decisions handed down. Bloomberg's Amy Morris reports from Washington.

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Speaker 8: The justices could make a decision on the legality of

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Speaker 8: the Trump tariffs. The administration invoked the International Emergency Economic

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Speaker 8: Powers Act, normally used to address national security threats. Lower

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Speaker 8: courts have already struck down the president's use of that

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Speaker 8: Act to impose tariffs. A ruling against Trump would undercut

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Speaker 8: his signature economic policy and deliver his biggest legal defeat

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Speaker 8: since returning to the White House. The Court could also

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Speaker 8: rule in a major redistricting case that could help Republicans

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Speaker 8: keep control of Congress in this year's midterm elections. In Washington,

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Speaker 8: Amy Morris Bloomberg Radio.

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Speaker 3: Right, Amy, thank you, staying in Washington, the House has

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Speaker 3: taken action on the expired health insurance subsidies that forrest

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Speaker 3: a government shut down. A band of swing state Republicans

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Speaker 3: join with Democrats to restore the Obamacare tax credits to

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Speaker 3: the rest of President Trump's term.

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Speaker 4: On this vote, the yays are two hundred and thirty

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Speaker 4: the nays or one ninety six. The bill is asked,

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Speaker 4: and while objection, the motion to reconsider.

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Speaker 9: Is laid on the table.

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Speaker 3: Seventeen House Republicans voted to send the three year extension

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Speaker 3: to the Senate. It's a blow to House Speaker Mike Johnson.

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Speaker 10: I think it's a really bad policy, and you know,

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Speaker 10: I wish, I wish they hadn't, but we.

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Speaker 3: Everybody had of both the conscience and House Democratic Leader

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Speaker 3: Hakeim Jeffrey says, now it's the Senate's turn to act.

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Speaker 11: John Thune needs to bring the bill up for a

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Speaker 11: vote immediately.

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Speaker 3: Senate Majority leader John Thune has said the bill is

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Speaker 3: dead on arrival. In his chamber. A group of Senators

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Speaker 3: led by main Republican Susan Collins is working on a

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Speaker 3: deal to revive the subsidies with modifications.

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Speaker 2: All right, let's turn to markets now, Karen. Futures are

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Speaker 2: a little bit higher this morning, while the dollar is

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Speaker 2: trading at a one month high. Ahead of this morning's

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Speaker 2: key jobs report, Economists anticipate seventy thousand new positions were

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Speaker 2: added to the US economy in December. We get more

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Speaker 2: from Bloomberg's Michael McKee.

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Speaker 5: Investors, analysts, economists, and politicians are awaiting the December jobs

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Speaker 5: numbers with great enthusiasm. October and November's data were affected

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Speaker 5: by the government shutdown. Last month's numbers will be the

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Speaker 5: first clean read since September. A lot is writing on

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Speaker 5: what that reading is. Job growth appears to have been

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Speaker 5: slowing or even falling for the past half year, but

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Speaker 5: unemployment has barely changed week. December jobs would suggest more

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Speaker 5: rate cuts from the Fed, but a drop in unemployment

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Speaker 5: which is forecast, would argue the opposite, although any conclusions

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Speaker 5: will be tempered because the shutdown meant there was no

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Speaker 5: October unemployment figure and we could see big revisions to

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Speaker 5: the delayed October and November numbers. The data may be clean,

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Speaker 5: but it's not certain how clear they will be in

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Speaker 5: setting a rate cut agenda. Michael McKee Bloomberg Radio.

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Speaker 3: All right, Mike, thank you. While President Trump is telling

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Speaker 3: The New York Times he's made up his mind on

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Speaker 3: his FED chair pick, but did not disclose his choice

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Speaker 3: to replace j Powell. Treasury Secretary Scott bess And says

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Speaker 3: he anticipates the will come this month.

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Speaker 9: I would expect presidents going to Davos, I think in

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Speaker 9: two weeks, so I.

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Speaker 11: Don't know whether it'll be right.

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Speaker 8: Before or right after.

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Speaker 3: And Besen says there are four candidates for the FED

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Speaker 3: chare National Economic Council Director Kevin Hassett, former FED Governor

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Speaker 3: Kevin Worsh, current FED Governor Christopher Waller, and Black Rock

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Speaker 3: executive Rick Reader.

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Speaker 2: In Company News, Karen, we may have a huge deal

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Speaker 2: in the works in the mining industry. Rio Tinto is

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Speaker 2: in talks to buy Glen Core. If completed, this would

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Speaker 2: create the world's biggest mining company, with a combined market

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Speaker 2: value of more than two hundred billion dollars. A tie

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Speaker 2: up between Rio and glen Core would represent the largest

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Speaker 2: ever deal in mining and create a new behemoth to

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Speaker 2: rival BHP.

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Speaker 3: Time now for look at some of the other stories

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Speaker 3: making news in New York and around the world, and

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Speaker 3: for that we're joined by Bloomberg's Michael Barr Michael, good Morning, Good.

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Speaker 11: Morning, Karen, New York. Minnesota, and other Democratic led states

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Speaker 11: sue the Trump administration in a bid to restore ten

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Speaker 11: billion dollars in federal aid for childcare and of their

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Speaker 11: services for poor families. The administration announced the funding freeze Tuesday,

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Speaker 11: escalating a conflict that has grown over accusations that Minnesota

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Speaker 11: officials allowed massive fraud in programs supporting childcare. In their lawsuit,

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Speaker 11: the states accused the administration of freezing the assistants to

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Speaker 11: punish them for their political leadership. The director of the

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Speaker 11: White House Office of Administration and the architect working on

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Speaker 11: the President Trump White House ballroom revealed more details about

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Speaker 11: the destruction of the East Wing and future renovations they

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Speaker 11: envisioned for the White House. The two testified before the

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Speaker 11: National Capital Planning Commission Thursday. Architect Saloon Baranas offered new

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Speaker 11: specs for the ballroom and says a future plan will

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Speaker 11: include adding the second story to the historic west wing.

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Speaker 10: It's designed to accommodate one thousand approximately one thousand seated

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Speaker 10: guests at a formal dinner. Of the two above ground

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Speaker 10: visible East wing floors. That's two floors, including the colonnade

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Speaker 10: and the ballroom. Structure is just slightly over eighty nine thousand.

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Speaker 11: Square feet, architects Saloon Baronas investigators say, Wednesday shooting outside

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Speaker 11: of church in Salt Lake City that killed two people

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Speaker 11: and injured six others grew out of a dispute between

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Speaker 11: people who knew each other and were attending a funeral.

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Speaker 11: No suspect is in custody. Global News twenty four hours

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Speaker 11: a day and whenever you want it with the Bloomberg News. Now,

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Speaker 11: I'm Michael Barron. This is Bloomberg Heart.

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Speaker 5: Thanks Michael.

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Speaker 3: All time now for our Bloomberg Sports update, and for

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Speaker 3: that we bring in John stash Hour.

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Speaker 12: Thanks Darren. What a game in Phoenix College football Playoffs

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Speaker 12: semi finals Miami and Ole miss six lead changes four

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Speaker 12: in the fourth quarter, three in the last five minutes.

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Speaker 12: Miami quarterback Carston Back scored on a three yard touchdown

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Speaker 12: run with eighteen seconds ago. The Hurricanes won thirty one

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Speaker 12: to twenty seven. They'll play for the national championship and

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Speaker 12: they'll get the play that game at home against the

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Speaker 12: winner of tonight's game in Atlanta between Indiana and Oregon.

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Speaker 12: Speaking of Miami, the Dolphins fired coach Mike McDaniel. That's

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Speaker 12: your Bloomberg Sports update.

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Speaker 8: Stay with us.

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Speaker 3: More from Bloomberg day Break coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius Exam

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business Apple. This is Bloomberg Daybreak.

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Speaker 2: Good morning. I'm Nathan Hager, and Wall Street is watching

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Speaker 2: to see whether this is the day the Supreme Court

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Speaker 2: decides on President Trump's emergency tariffs. The justices are scheduled

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Speaker 2: to release their first opinions of the year later this morning.

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Speaker 2: White House Trade advisor Pete Navarro is watching.

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Speaker 12: We think that the most important thing to do now

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Speaker 12: is focus on winning that case.

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Speaker 8: As to the Supreme Court, that's where we're at.

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Speaker 9: If we lose, then we have a plan B.

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Speaker 2: That was White House Trade Advisor Peter Navarro on the

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Speaker 2: latest episode of Bloomberg's Michelle Hussein showed this morning. We're

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Speaker 2: joined by Bloomberg News Global Trade editor Brendan Murray. And Brendan,

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Speaker 2: we should emphasize that we don't know for certain whether

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Speaker 2: the Supreme Court is going to rule on the President's

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Speaker 2: tariffs this morning, but what are the potential plan bees

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Speaker 2: for the White House?

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Speaker 9: Good morning, Good morning. The White House has a couple

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Speaker 9: of options should they lose this case today, and again,

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Speaker 9: like you said, we don't know. At ten am and Washington,

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Speaker 9: they'll start reading some opinions and one of those might

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Speaker 9: be this tariff case. But the main option that most

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Speaker 9: people think that the US government could use is something

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Speaker 9: known as the Section one twenty two, and that would

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Speaker 9: basically let the president issue a blanket fifteen up to

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Speaker 9: a fifteen percent tariff on all trading partners. But that's

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Speaker 9: pretty time limited. It's one hundred and fifty days, and

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Speaker 9: so that is really just a band aid. But that

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Speaker 9: should buy them time to come around with some other

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Speaker 9: authorities that they could use. We've heard them talk about

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Speaker 9: three to zho ones and are the ones that are

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Speaker 9: currently used against China, and there are other pending two

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Speaker 9: thirty two cases. Those are that's the authority that's used

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Speaker 9: to impose tariffs on steel and aluminum and cars already.

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Speaker 9: So there are things powers that the President has waiting

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Speaker 9: in the wings that they could kind of roll out,

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Speaker 9: but it's definitely going to be disruptive and create some

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Speaker 9: uncertainty going forward as to the timing and the level

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Speaker 9: of any new tariffs. Again, should the President lose, we

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Speaker 9: don't really know how the Justices are going to are

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Speaker 9: going to come down on this, but the hearing that

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Speaker 9: they held two months ago suggested that at least a

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Speaker 9: couple of the conservatives were leaning We're pretty skeptical of

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Speaker 9: the president's case in this regard.

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Speaker 2: Those are some interesting numbers that you mentioned there. Out

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Speaker 2: of the nineteen seventy four Trade Act. We've heard the

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Speaker 2: section two thirty two mentioned a lot, but one twenty two,

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Speaker 2: three oh one are how tested are these potential provisions

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Speaker 2: when it comes to levying tariffs.

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Speaker 9: Well, the two thirty two's and the three zero ones

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Speaker 9: are as legally sound as as as any of these

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Speaker 9: get The one twenty two hasn't been used much at all,

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Speaker 9: but legal experts would say that that is the route,

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Speaker 9: and lower courts when they struck down when they ruled

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Speaker 9: against Trump in the lower courts have said, that's probably

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Speaker 9: the authority you should be using here, So, uh that

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Speaker 9: we would expect and you and you played the tape

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Speaker 9: of Piter Navarro and we've heard Howard Lutnik and he's

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Speaker 9: the Commerce Secretary say that, uh, these are these these

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Speaker 9: these these numbers that they've thrown out. There are the

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Speaker 9: are the plan b's that they would roll out, probably

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Speaker 9: fairly quickly, maybe not you know, hours after, but you know,

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Speaker 9: within days they would have these ready to go. The

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Speaker 9: President posted on social media last night that you know,

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Speaker 9: he hopes the Supreme Court is aware of how resilient

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Speaker 9: the US economy has been, and he called this, you know,

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Speaker 9: this is the most important decision ever. Obviously, you know,

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Speaker 9: more hyperbole, but obviously the President thinks that this is

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Speaker 9: really crucial to his ability to negotiate trade deals, bring

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Speaker 9: manufacturing jobs home. If he doesn't have this, these other

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Speaker 9: authorities are going to have to take their place.

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