Bloomberg News Now July 3, 2025: Trump Takes a Victory Lap, Renews Tariff Threat, More
Jul 4, 2025
Discover the heated debates over a new tax and spending bill, highlighting its controversial tax cuts favoring the wealthy and potential safety net reductions. Delve into the President's looming tariff threats and their implications on the economy. The discussion also touches on recent Supreme Court decisions and how global factors, like China's approach to population growth, might impact the financial landscape.
AI Snips
Chapters
Transcript
Episode notes
Controversial New Tax Bill Passed
- The new tax and spending bill includes tax cuts and spending cuts affecting safety net programs.
- It largely reverses prior administration's clean energy efforts, sparking partisan divisions over impact and fairness.
Trump Praises Bill Passage
- President Trump celebrated the bill's passage as a "phenomenal victory" for making America great again.
- He called it the best birthday present for America, rallying supporters in Iowa.
Tariff Strategy and Trade Talks
- Trump's administration may send tariff letters by Friday, setting unilateral levies before July 9th.
- Some trading partners remain in talks while he is optimistic on India but pessimistic about Japan deals.