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

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Speaker 1: Doug Prisner. Canada it's rescinding its digital services tax in

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Speaker 1: anticipation of a mutually beneficial, comprehensive trade agreement with the US.

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Speaker 2: Now.

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Speaker 1: Last Friday, President Trump said he was ending all trade

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Speaker 1: discussions with Canada in retaliation for this tax, and he

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Speaker 1: threatened to impose a fresh teriff rate within the next week.

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Speaker 1: But now Canadian Prime Minister Mark Karney and President Trump

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Speaker 1: have agreed that parties will resume negotiations with a view

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Speaker 1: toward agreeing on a deal by July twenty first. The

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Speaker 1: US Senate is debating President Trump's tax and spending bill

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Speaker 1: at this hour, and this is occurring as the Congressional

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Speaker 1: Budget Office is estimating the Senate's version of this bill

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Speaker 1: would add nearly three point three trillion dollars two s

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Speaker 1: deficits over a decade. With only three votes to spare,

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Speaker 1: Senate GOP leaders are negotiating behind closed doors to secure

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Speaker 1: full passage. Meantime, Democrats are criticized these cuts worth as

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Speaker 1: much as a trillion dollars over ten years for Medicaid

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Speaker 1: and snap benefits. Here is Massachusetts Senator Elizabeth Warren.

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Speaker 2: Republicans know what they're doing. They know that this bill

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Speaker 2: will hurt people, They know that this bill will kill people, and.

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Speaker 3: Though it's hard to believe, they just look.

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Speaker 2: The other way.

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Speaker 1: That was Massachusetts Senator Elizabeth Warren. Now President Trump is

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Speaker 1: pushing for a July fourth deadline for a bill that

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Speaker 1: would make those twenty seventeen tax cuts permanent. It would

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Speaker 1: also cut green energy subsidies and raise the debt ceiling

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Speaker 1: by five trillion dollars. One Republican who voted against the

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Speaker 1: tax bill was Senator Tom Tillis of North Carolina. Now

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Speaker 1: President Trump swiftly threatened to find a GOP primary challenger

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Speaker 1: to Tillos, and then today tilla said he won't seek reelection.

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Speaker 1: Democrats see the seat as a potential pickup opportunity. However,

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Speaker 1: sen a GOP campaign chair Tim Scott of South Carolina

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Speaker 1: insists the Senate will remain in Republican hands. We go

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Speaker 1: to Idaho next, where a sniper has ambushed firefighters responding

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Speaker 1: to a blaze in a northern Idaho mountain. Community. Authorities

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Speaker 1: say at least two people have been killed and they

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Speaker 1: are working to neutralize an active shooter. Here is Cootney

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Speaker 1: County Sheriff Robert Norris.

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Speaker 3: We have multiple agencies that are unseen from local and

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Speaker 3: federal authorities, and we are prepared to neutralize this suspect

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Speaker 3: who is currently actively shooting at public safety personnel. We

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Speaker 3: are prepared to neutralize this suspect as quickly as possible.

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Speaker 1: That was Cootney County Sheriff Robert Norris. President Trump says

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Speaker 1: he's identified a buyer for the US operations of TikTok,

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Speaker 1: but he stopped short of saying more. He spoke earlier

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Speaker 1: with Fox News Sunday Morning Futures.

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Speaker 3: We have a buyer for TikTok. By the way, I

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Speaker 3: think I'll need probably China. A presidency will probably do it.

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Speaker 3: I'll tell you in about two weeks. I'm a big

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Speaker 3: technology company.

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Speaker 1: There are very very wealthy people.

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Speaker 2: It's a group of very wealthy people.

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Speaker 1: That is President Trump, speaking earlier to Fox News's Maria Bartiromo. Now,

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Speaker 1: the fate of the US operations of TikTok has been

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Speaker 1: unclear for months. Back in twenty twenty four, Congress passed

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Speaker 1: a law requiring the app to be banned in the

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Speaker 1: US unless its Chinese parent company sold the app to

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Speaker 1: a non Chinese firm. Now, the chief concern is whether

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Speaker 1: US user data could end up in the hands of

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Speaker 1: the Chinese government, by the way, a previous deal involving

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Speaker 1: Oracle and some other US investors reportedly stalled given the

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Speaker 1: trade tensions between the US and China. Plenty of economic

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Speaker 1: data to look for in the week ahead, including the

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Speaker 1: June Jobs Report. We have a preview from Bloomberg's Karen Moscow.

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Speaker 2: On Tuesday, investors get a look at ISM Manufacturing SMP,

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Speaker 2: Global Manufacturing PMI, Jolt's job openings and construction spending. Wednesday,

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Speaker 2: it's private pay rolls from ADP. The June Jobs report

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Speaker 2: is out Thursday, with the financial market scheduled to close

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Speaker 2: early ahead of the fourth of July holiday. We'll also

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Speaker 2: get a look at the weekly report on initial jobless claims.

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Speaker 2: Factory orders and trade markets are closed Friday for Independence Day.

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Speaker 2: Karen Moscow, Bloomberg Radio.

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Speaker 1: In Sporting News, Hall of Fame horse trainer d Wayne

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Speaker 1: Lucas has died. Known as coach in racing circles, Lucas

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Speaker 1: claimed fifteen triple crowned victories, including four Kentucky Derby wins.

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Speaker 1: That was short of the record high held by his

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Speaker 1: close friend Bob Baffert Lucas was eighty nine. And that

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Speaker 1: is news when you want it with Bloomberg News Now,

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