Balance of Power

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump said that US tariffs on semiconductor and pharmaceutical imports would be announced “within the next week or so,” as the administration prepares to target key economic sectors in its effort to remake global trade.  “We’ll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it’s going to go to 150% and then it’s going to go to 250% because we want pharmaceuticals made in our country,” Trump said Tuesday in an interview on CNBC. “We’re going to be announcing on semiconductors and chips, which is a separate category,” the president continued.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Deputy Bureau Chief Laura Davison. Former Deputy US Trade Representative Sarah Bianchi. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Retired Two-Star Marine Corps Major General Arnold Punaro, former Staff Director of the Senate Armed Services Committee. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Texas Democratic lawmakers said they left the state in an effort to temporarily block Republicans from redrawing its congressional maps — a redistricting initiative pushed by President Donald Trump to help retain GOP control of the US House of Representatives in the midterms.Many have gone to the Chicago area, selecting a location where local and state governments are led by Democrats. Some the politicians also went to Boston and Albany, New York. “I’m going to do everything I can to make sure that they’re welcome here, that they have the ability to stay as long as they need to and want to,” Illinois Governor JB Pritzker said at a press conference in Carol Stream, flanked by the Texas lawmakers.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg International Economics and Policy Correspondent Michael McKee. Republican Congressman Bryan Steil of Wisconsin. Bloomberg Texas Bureau Chief Julie Fine. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. US Ambassador to NATO Matthew Whitaker. Bloomberg White House and National Security Editor Michelle Jamrisko. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.US job growth cooled sharply over the past three months and the unemployment rate rose, showing the labor market is shifting into a lower gear amid widespread economic uncertainty.Payrolls increased 73,000 in July after the prior two months were revised down by nearly 260,000, according to a Bureau of Labor Statistics report out Friday. In the last three months, employment growth has averaged a paltry 35,000 — the worst since the pandemic.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Economics US Economist Stuart Paul. Brookings Institution Vice President and Director of Economic Studies Ben Harris. Massachusetts Governor Maura Healey. Bloomberg Politics Contributor Jeanne Sheehan Zaino and Former RNC Communications Director Lisa Camooso Miller. Former Republican Congressman and Bloomberg Contributor Patrick McHenry. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump will sign an executive order on Thursday imposing new tariff rates on trading partners that take effect Friday, the White House said. The signing will take place “at some point this afternoon or later this evening,” White House Press Secretary Karoline Leavitt told reporters during a news briefing, adding that “Aug. 1, the reciprocal rates will be going into effect.”It’s unclear how many orders Trump will need to sign to enact the new policies.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. Former US Trade Ambassador Ron Kirk. Bloomberg Politics Contributor Jeanne Sheehan Zaino and Echo Canyon Consulting CEO Jon Seaton. Economic Consultant Kathryn Edwards. Republican Congresswoman Nicole Malliotakis of New York. Firehouse Strategies Partner Alex Conant. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Wall Street pros are staring down a pivotal week that will likely set the tone for the rest of the year in markets and the economy.First and foremost is the conclusion of the Federal Reserve’s meeting on Wednesday, and although it isn’t expected to cut interest rates, traders and investors will be poring over commentary for clues about the path ahead. Then there’s a string of Big Tech earnings with Amazon.com Inc., Apple Inc., Meta Platforms Inc. and Microsoft Corp. all reporting. And sprinkled throughout are some key indicators on the state of the economy, from gross domestic product to nonfarm payrolls.In other words, if there ever was a five-day stretch that would define the second half of the year, this is it.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Senior Editor for US and Canada Equities Michael Regan. Bloomberg Politics Contributor Jeanne Sheehan Zaino and Bluestack Strategies Founder Maura Gillespie.  See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Treasury Secretary Scott Bessent said that the US and China will continue talks over maintaining a tariff truce before it expires in two weeks, and that President Donald Trump will make the final call on any extension.Bessent, who led the US delegation with Trade Representative Jamieson Greer, said in Stockholm that he’ll brief Trump on Wednesday on the remaining issues.“There’s still a couple of technical details to work out,” Bessent told reporters Tuesday, after two days of meetings with officials from Beijing led by Vice Premier He Lifeng.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Europe Correspondent Oliver Crook. Former Department of Defense China Analyst Anna Ashton. Former US Diplomat Mara Rudman. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. The US and European Union agreed on a hard-fought deal that will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer blow to the global economy.The pact was concluded less than a week before a Friday deadline for President Donald Trump’s higher tariffs to take effect and was quickly praised by several European leaders, including German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni, who called it “sustainable.”Trump and European Commission President Ursula von der Leyen announced the deal Sunday at his golf club in Turnberry, Scotland, although they didn’t disclose the full details of the pact or release any written materials. The 15% rates will take effect Aug. 1, according to a US official.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. Schulz Trade Law Founder and Managing Partner Michelle Schulz. Texas State Representative James Talarico. Arbroath Group Founder and Managing Partner Christopher Smart. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Donald Trump arrives in Scotland on Friday evening for a private five-day visit of his mother’s ancestral home, taking in two golf resorts he owns. UK Prime Minister Keir Starmer knows full well that when it comes to this US president, little is ever really private.Trump’s first trip to Britain since his reelection will see him travel to his estates at Turnberry on Scotland’s picturesque west coast and Menie in Aberdeenshire. It comes only weeks before he crosses the Atlantic again on an official state visit to meet King Charles III in September. For Starmer, who will meet Trump in Scotland, it’s not without its risks.The two leaders have struck up an unlikely partnership this year, with Trump repeatedly commenting on their positive working relationship in spite of the premier’s left-wing politics: “for some reason, we get along,” he said alongside Starmer at the Group of Seven summit in Canada last month. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Bloomberg Washington Correspondent Tyler Kendall is in for Kailey. Joe and Tyler speak with: Bloomberg Senior Editor Wendy Benjaminson. Former National Economic Council Director and Former Federal Reserve Vice Chair Lael Brainard. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Former RNC Communications Director Lisa Camooso Miller. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump and other administration officials are heading to the Federal Reserve today to learn about the central bank buildings’ $2.5 billion renovation.Fed. Chair Jerome Powell has been under fire from Trump for months for leading the Fed in holding fast on interest rates — declining to continue last year’s reductions due to concern over the inflationary impact of the administration’s tariff hikes.In recent days, Trump has said that he did not plan to fire Powell before the end of his term — but has not fully closed the door over removing him over his handling of the renovation project.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Bloomberg Washington Correspondent Tyler Kendall is in for Kailey. Joe and Tyler speak with: Bloomberg Managing Editor for US Economic Policy Kate Davidson. Stonecourt Capital Partner Rick Davis and Bully Pulpit International Managing Director Adam Hodge. Democratic Congressman Suhas Subramanyam of Virginia. Ipsos US Public Affairs President Cliff Young. Bloomberg Senior Editor Ed Harrison. The Budget Lab at Yale University President Natasha Sarin. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump reached a trade deal with Japan that will impose 15% tariffs on imports including automobiles from the key American ally, while creating a $550 billion fund to make investments in the US.The agreement, touted by Trump after he secured breakthroughs in a final 75-minute Oval Office meeting Tuesday with Japanese negotiators, spares the nation from a threatened 25% tariff that was set to take effect next week.“They had their top people here and we worked on it long and hard, and it’s a great deal for everybody,” Trump said at a White House event Tuesday evening.Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Bloomberg Washington Correspondent Tyler Kendall is in for Kailey. Joe and Tyler speak with: Bloomberg White House Correspondent Josh Wingrove. Democratic Congressman Brendan Boyle of Pennsylvania. Senior Counselor to the President and Director of the Office of Trade and Manufacturing Policy at The White House Peter Navarro. Republican Senator Bill Cassidy of Lousiana. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. See omnystudio.com/listener for privacy information.