House Rejects Trump Tariffs; GOP Passes Voter ID Bill

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning.
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Karen, we begin with a big blow this morning to
President Donald Trump's tariff policies. Bloomberg's John Tucker joins us
with the latest. Good morning, John, Good morning, Nathan.
Republican led House has passed a resolution to rescind President
Trump's tariffs on Canada. Six Republicans joined nearly all Democrats
in passing the measure.
On this vote, the Yas are two nineteen and the
Naser two eleven. Their joint resolution is passed without objection.
The motion to reconsider is laid on the table even
if it does pass the Senate. Now, President Trump would
veto it, so this is all about sending a message.
The House vote signals a growing rift within the Republican
Party with the midterm elections approaching. The GOP and those
members who voted for it have to face their constituents
who are increasingly worried about affordability. That Wednesday's vote happened
at all actually represents a blow to House Speaker Mike Johnson,
a top Trump ally who had spearheaded a block on
bringing tarn related bills to the floor for months, and
the passage also comes as the president is privately waing
quitting the US Mexico Canada trade pack that he signed
during his first term. Following the vote, Trump wrote on
social media, any Republican in the House or the Senate
that votes against tariffs will seriously suffer the consequences come
election time. That includes primaries in New York. On John
Tucker Bloomberg Radio, all.
Right, John, thank you well. House Republicans have also approved
legislation that would impose strict new voter ID requirements ahead
of the midterm elections. The bill is a Trump administration
priority aimed at scrutinizing ballot access, but it faces blowback
in the Senate. The legislation requires Americans to present proof
of citizenship when they register to vot vote and to
show a valid photo identification before they cast ballots. Republicans
say it's needed to prevent voter fraud. Democrats sworn it'll
make it harder for millions of Americans to vote.
Yah Elsewhere.
On Capitol Hill, Karen Attorney General Pam Bondi had a
contentious hearing before the House Judiciary Committee on the Jeffrey
Epstein case and her agency's investigations into President Trump's political opponents.
The committee's top Democrat, Jamie Raskin, accused Bondi of turning
the Justice Department into an instrument of revenge.
You replace real prosecutors with counterfeit stooges who robotically.
Do the president's bidding.
Nothing in American history comes close.
And Democrat Jamie Raskin accused the Justice Department of redacting
the names of abusers and co conspirators in the Epstein files,
not just as victims. Bondi apologized for what Epstein's victims experienced,
but Democrat Primila Jayapaul asked if she would turn to
face the victims who were in the audience to deliver
that apology.
Mister Chairman, why I have asked see austinar at Garland.
This I'm reclaiming.
I will claim my time.
Reclaimed.
Get in the gutter for her theatrics. Attorney General Pam
Bondi flipped through a binder throughout the hearing to deliver
attacks at individual lawmakers. She says the Justice Department has
pending investigations related to Jeffrey Epstein, but she did not elaborate.
Nathan. Federal agents are looking along roadways in the Catalina Foothills.
This is the search for the eighty four year old
mother of Today's show host Savannah Guthrie continues. They're looking
near Tucson as part of the investigation into the disappearance
of Nancy Guthrie. The Pima County Sheriff's Department and the FBI,
so that they are following up on eighteen thousand tips
and here's retired FBI agent Richard Frankel.
Eighteen thousand and what a week and a half.
That number is staggering. After nine to eleven, we had,
I believe eighteen to twenty thousand in two years and
retired FBI agent Richard Frankel. The FBI has also released
images of a masked person on Nancy Guthrie's porch the
night she went missing their Tucson. Guthrie was reported missing
on February first.
Trained to Geopolitics Now Caring, the death toll from the
crackdown over Iron's nationwide protests last month has reportedly reached
more than seven thousand. The US based human rights activist
news agency, which offered the latest figures has been accurate
in counting deaths during previous rounds of unrest in Iran.
It relies on a network of activists to verify those deaths.
The rise in the death toll comes as Iran tries
to negotiate with the US over its nuclear program.
Nathan, President Trump's energy chief, has arrived in Venezuela to
be with the nation's new leader and assess its energy infrastructure.
Energy Secretary Chris Wright met with Acting President Delci Rodriguez
and Caracas as the US pushes to revive Venezuela's oil sector.
Bloomberg's and Marie hor Dern is traveling with the Energy
Secretary and has more. Secretary Chris Wright.
Of the Energy Department met with Acting President Delci Rodriguez.
The two discussed business ventures and how how't you collaborate
further when it comes to energy, mining and electricity in
the country. Secretary Wright said he came here the message
from President Trump was that he wants to make the
Americas great again and he wants to transform this relationship.
He continuously talks about you can transform a relationship with
commerce instead of boots on the ground. I'm Amina Herdern
in Caracas, Venezuela, and this is Bloomberg.
All right, Emory, thank you. We turned to the markets now.
Futures are higher this morning after yesterday's declines, with shares
of Cisco are sinking. They're down nearly eight percent. In
early training, the largest maker of networking equipment, gave a
weaker than expected forecast, spurring concerns that mounting memory hip
prices are taking a toll. The outlook overshadowed and upbeat
sales forecast fueled by growing artificial intelligence revenue.
Nathan sales and the US for McDonald's grow at the
fastest pace in more than two years. They jumped six
point eight percent. The company's focus on affordability helped to
improve in the fourth quarter. Abby Roach is a senior
portfolio analyst at all Spring Global Investments.
I'd say they're doing a couple things. While they're leading
into the value for consumers who are seeking that out
and who are really feeling stretched. They've got different offerings
across different price points, across five dollars eight dollars, being
able to add things on for a dollar, so they're
really focused there. But also they're not letting their foot
off the gas in terms of the marketing and the innovation.
Abby roach at all Spring Global Investments and Shures. The
McDonald's are down a third of up percent this morning.
Karen Ai Company Andthropics nearing completion of a deal to
raise more than twenty billion dollars. Bloomberg News has learned.
The funding round is co led by investors including Peter
Thial's founder's fund, d E. Shaw and Dragoneer Investment Group,
and Thropics set to be valued at about three hundred
and fifty billion dollars. The deal could be announced as
early as this week.
Nathan Applied Materials will pay more than a quarter of
a billion dollars to settle a Commerce Department investigation into
improper exports to China. Settlement ending a year's long saga
for the largest American supplier of chip making machinery.
Now we got some moretal news this morning. Karen Neuveen
is buying Schroders for thirteen and a half billion dollars.
The acquisition creates one of the world's largest active asset managers,
with nearly two and a half trillion dollars in assets.
This ends more than two centuries of independence for the
UK's largest standalone asset manager, although the Schroders brand will
be retained.
Time now for look at some of the other stories
making news in New York and around the world, and
for that we're joined by Bloomberg's Michael Barr.
Michael, good Morning, Good morning, Karen. Canadian authorities say the
suspect in the school shooting in British Columbia was an
eighteen year old who had a history of police visits
to her home to check on her mental health. Police
said the suspect, Jesse Van Rootseller, first killed her mother
and stepbrother at the family home before attacking the nearby school,
resulting in eight fatalities. Dwayne McDonald is with the British
Columbia Royal Canadian Mounted Police. I can say that the.
Suspect was not related to any of the victims of
the school. I don't have any broader information beyond that
of it and say that the suspect was related to
the two victims at the private residents.
Dwayne McDonald with the Royal Canadian Mounted Police said Van
Rootseller was found dead from an apparent self inflicted wound
following the assault on the school in the small community
of tumblr Ridge, striking nurses at two of the three
New York City hospitals ratified their new contracts, ending a
five week strike. Rank and filed union members at Matafior
and Mount syin I voted overwhelmingly to approve the new
three year contracts. However, the strike will continue for over
four thousand nurses at New York Presbyterian. Some nurses there
say they were being pressured by the union to approve
a contract that the local negotiating team rejected. In a
statement from New York Presbyterian, the proposal includes, among other things,
the same four percent yearly wage increases for all three hospitals.
The San Francisco teachers strike enters its fourth day. Teachers
are demanding better pay and benefits. Public school teacher Leslie
Hughes says they're also fighting for their students and their families.
I hope that we can get this done as soon
as possible, and educators here as standing with our families
and students, are prepared to go as long as it
takes until we have a signed agreement.
The strike closed public schools for more than fifty thousand
students in the city. Global News twenty four hours a
day and whenever you want it with Bloomberg News Now.
I'm Michael Barr, and this is Bloomberg Karen.
Thanks Michael. Time now for our Bloomberg Sports updating. For that,
we bring in John Stashauer.
Thanks Karin. Second straight day at the Olympics where the
United States won five medals, of this time two gold
Liz Lanley only twenty years old. She had never been
in an Olympic event before. She one golden freestyle skiing
and twenty one year old Jordan Stoles one in speed skating.
He may end up winning four gold medals. The NBA,
after that fight between the Pistons and Hornets, suspended four players,
including Detroit's Isaiah Stewart, who got seven games he had
left the bench. That's your Bloomberg Sports update.
Stay with us. More from Bloomberg day Break coming up
after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Good morning.
I'm Nathan Hager. President Trump's signature economic policy has just
taken a blow on Capitol Hill. The House has voted
to repeal the president's tariffs on goods from Canada. Democrats
are promising more votes to come. Six Republicans joined with
Democrats on this vote, including California's Kevin Kylie.
We should have these debates, Let's have the discussion.
Let's do so in front of the America and people.
That's what you know representative government is all about.
I was California Republican Kevin Kylie joining us now as
Bloomberg's Laura Davison and Laura, we know that Congressman Kylie's
facing a pretty tough reelection fight in California. Politics definitely
plays a role in this vote last night. Good morning,
good morning.
Yes, this vote wasn't so much about actually being able
to rescind these tariffs, but more giving some of these
members an opportunity to come out and come out against
these tariffs. You saw that the six Republicans who joined
with Democrats are folks who either you know, have have
clashed with the president of the past Thomas Massey for example,
or represent some of these these moderate swing districts where
they could be vulnerable. You know, we're starting to see,
you know, Republicans really come out against some of the tariffs.
There was a lot of vote no hope yes yesterday
among House Republicans in terms of you know, wanting to
see this uh, you know, not wanting to stand out
and specifically rebuke the president, but they're recognizing that there's
a messaging issue with voters that you know, voters are
not happy with the economy. They think prices are too high,
and they recognize that that tariffs are contributing to a
piece of that.
Getting to those affordability concerns that the President in the
past has called something that's fake. How could this play
out heading into the midterms.
Laura, Yeah, this is the fight that we're likely to
see really grow. You know, this vote, you know this
week was just about the Canada tariffs. Democrats or even
some Republicans could continue to bring up different resolutions to
strike down different portions of these tariffs. So it could
be the Brazil terariffs, for example, or are the tariffs
on Mexico. So this is a way to kind of
keep this issue alive, even though it doesn't have any
strong policy implications, but keeps the political messaging of this ahead.
And of course this comes at a time where Bloomberg
News has learned that President Trump is privately talking about
walking away from the US Mexico Canada Agreement, not that
he's made a decision, but at least floating the idea.
I mean, what could that mean in terms of ongoing
trade pressure?
This would really be a huge trade shift. You know,
about eighty percent of goods that flow between the US, Mexico,
and Canada are covered by this trade pact, which would mean,
you know, if the US were to exit that all
of those rules of the road would go away. So
if you know, you know, the if people think that
the tariffs right now on US of the the US
is opposed on Canada and Mexico are big, this would
really be a complete sea change. So this is something
that you know Trump, you know, as he goes into
these tariff negotiations, he likes to take these maximalist positions.
So that's how some are interpreting this move of that
Trump is sort of taking, you know, or at least
considering taking a a you know, sort of an extreme
position that then he could you know, kind of moderate
as the discussions go on.
In our last minute, Laura, let's talk about the hearing
of the House Judiciary Committee for Attorney General Pam Bondi
or first appearance since October. Apart from the shouting, did
anything of substance come out of it? As far as
you saw.
The big headline here is that she did mention that
there are that the Justice Department is investigating various things
related to Epstein, but she did not elaborate. You know,
the Justice Department has said previously that they were looking
into Democrats, including Larry Summers, Bill Clinton, and other Democratic
donors as in terms of what they knew about Epstein,
but it was clear that she said there are still
these investigations going on, but did not give any details
as to what that might be or what we could
expect to see in the future.
This is Bloomberg Daybreak, your morning podcast on the stories
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