Bloomberg Daybreak: US Edition US Floats China Trade Truce; Judge Pauses Shutdown Layoffs
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Oct 16, 2025 President Trump confirms CIA operations are underway in Venezuela to combat drug flow into the US. A federal judge halts planned layoffs by the Trump administration, citing legality concerns. Meanwhile, Treasury Secretary suggests a potential extension of the pause on tariffs if China reconsiders strict export controls on rare earth elements. With a looming November deadline, the trade dynamics between the US and China continue to evolve, setting the stage for a significant leaders' meeting.
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Tariff Pause As A Negotiation Tool
- Treasury Secretary Scott Bessent floated extending the 90-day tariff pause if China delays rare-earth export controls.
- That frames tariffs and strategic minerals as bargaining chips ahead of potential leaders' talks.
Judge Halts Federal Shutdown Layoffs
- A San Francisco judge froze recent federal layoffs tied to the shutdown, blocking notices affecting unionized programs.
- The order affects over 30 agencies and pauses pink slips issued to roughly 4,100 employees so far.
U.S. Authorizes Covert Action In Venezuela
- President Trump authorized covert CIA actions in Venezuela citing drug flows and migrants.
- The administration claims it already interdicted boats in the Southern Caribbean and authorized lethal operations per reporting.