Bloomberg Surveillance Bloomberg Surveillance TV: September 5th, 2025
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Sep 5, 2025 
Howard Lutnick, the US Commerce Secretary, shares insights on a groundbreaking trade deal between the U.S. and Japan, emphasizing its economic impacts and the importance of international relations. Jeffrey Rosenberg from BlackRock discusses market reactions to the recent jobs report, while Michael Nathanson analyzes the tech industry's future following a key White House meeting. The conversation also touches on labor market dynamics, the role of immigration policy, and the effects of Federal Reserve actions on the economy.
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Japan's $550B Investment Story
- Howard Lutnick described a novel deal where Japan gives $550 billion to President Trump to invest in U.S. projects at his direction.
- He framed it as Japanese government money funding U.S. infrastructure to reduce reliance on China.
Investment As Tariff Trade-Off
- Lutnick argued the investment effectively buys down Japanese tariffs while giving Trump discretion over U.S. investments.
- He presented it as a tool to boost GDP and strategic reshoring of industries like generics.
U.S. Leverage Through Consumer Demand
- Lutnick criticized India for sharply increasing Russian oil purchases since the war, calling it economically and politically wrong.
- He urged countries to choose sides and reminded listeners the U.S. consumer remains the world's largest market.