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Speaker 1: News when you wanted with Bloomberg News. Now I'm Doug Chrisner.

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Speaker 1: President Trump can continue to enforce his global tariffs, at

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Speaker 1: least for now. A federal appeals court has ruled these

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Speaker 1: levies can stay in place for longer. The court will

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Speaker 1: hear arguments on July thirty first. It's a short term

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Speaker 1: reprieve for the administration as it presses a challenge to

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Speaker 1: a lower court ruling last month that block those tariffs. Meantime,

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Speaker 1: the US and China have agreed in principle to a

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Speaker 1: framework for de escalating the trade war. These two sides

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Speaker 1: will implement the consensus they reached in Geneva last month.

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Speaker 1: Now this comes after two days of discussions over nearly

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Speaker 1: twenty hours in London. Here is Commerce Secretary Howard Lutnik.

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Speaker 2: I think we have the two largest economies in the

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Speaker 2: world have reached a handshake, right for a framework. We're

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Speaker 2: going to start to implement that framework upon the approval

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Speaker 2: of President Trump, and the Chinese will get their president

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Speaker 2: cheese approval, and that's the process. So once the President's

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Speaker 2: approve it, we will then seek to implement it.

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Speaker 1: That was Commerce Secretary Howard Lutnik at the same time,

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Speaker 1: US Trade Rep. Jamison Greer said no other meetings are scheduled,

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Speaker 1: but he added that American and Chinese sides will talk frequently.

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Speaker 1: We go to Los Angeles next, where a curfew for

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Speaker 1: certain parts of the downtown area will be enacted tonight

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Speaker 1: after several nights of unrest and vandalism. Here is LA

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Speaker 1: Mayor Karen Bass.

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Speaker 3: The curfew has been in consideration for several days, but

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Speaker 3: clearly after the violence that took place last night, twenty

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Speaker 3: three businesses looted, and just the extensive widespread nature of

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Speaker 3: the vandalism, we reached a tipping point.

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Speaker 1: That was Los Angeles Mayor Karen Bass. Now this move

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Speaker 1: comes after marines deployed by President Trump arrived in the

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Speaker 1: LA area with orders to protect federal property and officers.

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Speaker 1: We know the President and California Governor Gavin Newsom have

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Speaker 1: sparred over the handling of those protest Here is Newsom

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Speaker 1: speaking tonight in a virtual address. This moment we have

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Speaker 1: feared has arrived.

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Speaker 2: He's taking a wrecking ball, a wrecking ball to our

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Speaker 2: founding father's historic project, three co equal branches of independent government.

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Speaker 1: That was California Governor Gavin Newsom. We go to New

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Speaker 1: Jersey politics next primary. Voters in the state have chosen

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Speaker 1: their GOP nominee for governor, a candidate endorsed by President Trump.

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Speaker 1: Jack Chettarelli notched the Republican win, and at the same time,

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Speaker 1: US Representative Mikey Cheryl won the Democratic primary in the

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Speaker 1: race for governor of New Jersey. The US and Mexico

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Speaker 1: are closing in on a deal to partially remove President

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Speaker 1: Trump's fifty percent tariffs on steel imports. We are told

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Speaker 1: under its current terms, US buyers would be allowed to

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Speaker 1: import Mexican steel duty free as long as they kept

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Speaker 1: total shipments below a level based on historical trade volumes. However,

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Speaker 1: the new cap would be higher than the previous one.

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Speaker 1: Here is Bloomberg's Joe Doe.

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Speaker 4: What we're getting here is very similar to something we

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Speaker 4: saw in the first term. During the first term, there

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Speaker 4: were twenty five percent terraffs on steel imports coming from

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Speaker 4: everywhere in the world, but Mexico and Canada in particular

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Speaker 4: were upset by this because they were the close trading partners.

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Speaker 1: That is Bloomberg's Joe Doe. Now, this deal has not

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Speaker 1: yet been finalized, and President Trump would need to sign

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Speaker 1: off on it. Mexican officials are waiting for a response

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Speaker 1: from the US later this week. General Motors is planning

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Speaker 1: to invest four billion dollars in its US manufacturing plants

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Speaker 1: over the next two years. The aim is to boost

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Speaker 1: output of both electric and gas powered vehicles. The British

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Speaker 1: government has sanctioned two Israeli government ministers for inciting violence

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Speaker 1: against Palestinian communities. These sanctions include asset freezes and travel bands.

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Speaker 5: Now.

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Speaker 1: Israel called the move outrageous and said it will decide

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Speaker 1: a response to the British decision. Here is UK Prime

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Speaker 1: Minister Keir Starmer.

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Speaker 6: Including questions of sanctions. My strong belief is when we

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Speaker 6: make a move, if we're able to do that in

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Speaker 6: company of other countries, that's a stronger move than doing

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Speaker 6: it on our own. So that's the basic approach that

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Speaker 6: we're taking. But we are working on what more we

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Speaker 6: can do in a pretty short term now.

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Speaker 1: That is British Prime Minister Keir Starmer.

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Speaker 3: Now.

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Speaker 1: The UK government is also urging Israel to cease expansion

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Speaker 1: of illegal settlements in the West Bank, which it says

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Speaker 1: undermine a future Palestinian state. A Key House Committee chairman

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Speaker 1: has warned the Senate against passing a tax bill that

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Speaker 1: fails to deliver on two of President Trump's campaign promises.

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Speaker 1: Bloomberg's Amy Morris has more from Washington.

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Speaker 7: Houseways and Means Chair Jason Smith says any bill that

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Speaker 7: doesn't include an exemption for tips and overtime pay from

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Speaker 7: taxes won't get very far in the House.

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Speaker 5: It would be dead on arrival. The senators need to

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Speaker 5: know that we have followed through. We pass this one big,

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Speaker 5: beautiful bill. It's what the President is asked. They need

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Speaker 5: to do the same thing.

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Speaker 7: Several Republican Senators are skeptical about the cost and the

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Speaker 7: economic wisdom of those exemptions. Senators have instead called for

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Speaker 7: funds to be used to make temporary business tax breaks permanent.

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Speaker 7: Smith has already said that it's a deal breaker. The

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Speaker 7: Senator is now considering the package, which passed the House

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Speaker 7: by a single vote last month. In Washington, Amy Moore

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Speaker 7: as Bloomberg Radio, 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 Prisoner and this is Bloomberg