Bloomberg News Now July 15, 2025: Trump Teases Drug Tariffs, Spending Cuts Bill Advances, More
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Jul 16, 2025 President Trump's plans for new tariffs on pharmaceuticals and semiconductors stir up discussion. There's an in-depth look at a Senate bill aimed at spending cuts. Key updates on leadership changes within the Federal Reserve are revealed. The conversation also touches on controversial comments surrounding Jeffrey Epstein and emphasizes the need for accountability regarding China in the UN. All this makes for an intriguing and informative listen!
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Trump's Pharmaceutical Tariffs Plan
- President Trump plans to impose tariffs on pharmaceuticals starting low, then increasing significantly after about a year.
- Tariffs may also extend to semiconductors, with possible trade deals before August 1.
Senate Advances Spending Cuts Bill
- The Senate advanced a $9.4 billion spending cuts bill with Vice President J.D. Vance breaking a 50-50 tie.
- This marks a political win for President Trump after modifying the bill to address moderate concerns.
Bondi Avoids Epstein Questions
- Attorney General Pam Bondi refused to discuss Jeffrey Epstein despite requests, focusing instead on fentanyl-related issues.
- DOJ stated Epstein kept no incriminating client list, contrasting with Bondi's earlier claim of possessing one.