Balance of Power

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.House Republicans from high-tax states signaled they’re inching closer to a deal on the state and local tax deduction following a Wednesday meeting with Treasury Secretary Scott Bessent. Young Kim of California and Andrew Garbarino of New York both said they made progress at the meeting but did not divulge details on the negotiations, which are crucial to passing President Donald Trump’s multi-trillion dollar tax and spending bill. “I’m working diligently so that we have a good product that we can all support,” Kim said after the meeting.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: National Association of Manufacturers President Jay Timmons. Bloomberg Politics Contributor Jeanne Sheehan Zaino and S-3 Group Partner Ashley Davis. Bloomberg New York City and State Reporter Laura Nahmias. Siena College Research Institute Director Don Levy. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Israel and Iran appeared to be honoring a ceasefire agreement unexpectedly announced by Donald Trump overnight, after the US president reacted angrily to reports of early breaches of the deal by both sides.Israeli Prime Minister Benjamin Netanyahu agreed to hold off on further strikes after a conversation with Trump on Tuesday, according to a statement from his office. Israel had destroyed a radar complex near Tehran after the truce came into effect as of 7 a.m. local time, in response to three missiles from Iran, the prime minister’s office said. Reports of attacks by both sides in the early hours of the peace accord triggered a furious reaction from Trump, who had declared the war over late Monday after 12 days of fighting. “DO NOT DROP THOSE BOMBS,” read one post on his Truth Social platform, directed at Israel in particular. “IF YOU DO IT IS A MAJOR VIOLATION.”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 Chief Political Correspondent Annmarie Hordern. Republican Congressman Michael McCaul of Texas. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Emerson College Polling Center Senior Director Matt Taglia. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump raised hopes of de-escalating the Middle East conflict after Iran’s strike against a US base, saying the attack was “very weak” and telegraphed ahead of time by Tehran. “I want to thank Iran for giving us early notice, which made it possible for no lives to be lost, and nobody to be injured,” the president said in a social media post Monday. “Perhaps Iran can now proceed to Peace and Harmony in the Region, and I will enthusiastically encourage Israel to do the same.”Iran fired missiles at a US air base in Qatar earlier Monday after promising it would respond “proportionately and decisively” to the weekend bombing by US forces of three nuclear facilities. Qatar said the missile barrage was intercepted and the base had been evacuated in advance. 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 Israel Defense Minister Yoav Gallant. Beacon Global Strategies Managing Director Michael Allen. 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.US President Donald Trump signaled he would give diplomacy a chance before deciding whether to strike Iran, dialing back on recent comments that suggested military action could be imminent.“Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks,” Trump said in a dictated message, according to White House spokeswoman Karoline Leavitt.Iran maintained Friday it won’t negotiate with the US while an Israeli assault continues. The only way to end the imposed war is to “unconditionally stop” the enemy’s aggression, Iranian President Masoud Pezeshkian said Friday in a post on X. 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 speaks with: Bloomberg US National Security Team Lead Nick Wadhams. Former US Ambassador to Israel Dan Kurtzer. Bloomberg Politics Contributor Rick Davis and Third Way Executive Vice President for Public Affairs Matt Bennett. 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 said he would hold another meeting Wednesday to discuss the conflict in the Middle East but remained coy about whether the US plans to join Israel’s offensive aimed at destroying Iran’s nuclear enrichment program. Trump told reporters he would meet his advisers in the White House Situation Room and again chastised Tehran for being “late” to negotiate with him, but said he had not made a final decision on whether to launch strikes. “I have ideas as to what to do,” the president told reporters in the Oval Office. “I like to make the final decision one second before it’s due because things change, especially with war.” 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 speaks with: Bloomberg White House Correspondent Kate Sullivan. Lexington Institute Vice President Rebecca Grant. Republican Congressman Mike Lawler of New York. 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.Israel and the US are ratcheting up pressure on Iran, sparking fresh speculation that Washington could be preparing to join in the attack launched by its closest Middle East ally.President Donald Trump said he wants a permanent end to Iran’s path to a nuclear weapon, after an early departure from the Group of Seven leaders meeting in Canada spurred questions about whether the US seeks to end the conflict or escalate it. “We know exactly where the so-called “Supreme Leader” is hiding. He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now,” Trump said in a Truth Social post Tuesday. But he said that “our patience is wearing thin” and moments later sent another two-word post: “UNCONDITIONAL SURRENDER!”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 speaks with: Bloomberg's Tyler Kendall and David Gura. Executive Director of the University of South Florida's Global and National Security Institute and Former United States Central Command Commander Ret. Gen. Frank McKenzie. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg International Economics and Policy Correspondent Michael McKee.  See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Israel will pursue its military operations against Iran regardless of the progress of any potential negotiations involving the US, Israeli Strategic Affairs Minister Ron Dermer said in an interview on Bloomberg Television.“We’re going to go about our operation to remove these two threats,” Dermer said Monday, referring to Iran’s missile and nuclear programs. “Whether Iran will decide to meet with the United States and agree to terms that they should have taken a month ago, or two weeks ago, or two months ago, you know, that’s up to Iran to decide.”His comments came after US President Donald Trump said Iran wants to talk about de-escalating the four-day old conflict. 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 speaks with: Israel Minister of Strategic Affairs Ron Dermer. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg Markets Live Managing Editor Kristine Aquino. Rapidan Energy Group Founder and President Bob McNally. Arbroath Group Founder and Managing Partner Christopher Smart. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Israel launched strikes across Iran on Friday morning, targeting nuclear facilities and killing top military commanders in a major escalation against its chief adversary that risks sparking a broad war in the Middle East.The strikes were far more extensive than those Israel carried out against Iran last year and underscored the country’s growing assertiveness, as well as its military and intelligence capabilities.Iran appeared to launch a retaliatory barrage of missiles toward later Friday, according to the Israel Defense Forces, who said in a statement that “all of Israel” was under fire. Plumes of smoke could be seen over Tel Aviv on Friday evening. Iran did not immediately comment on the action. 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. Center for Strategic and International Studies Middle East Program Director Mona Yacoubian. The Washington Institute Senior Fellow Holly Dagres. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone. 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.President Donald Trump said Israel “could very well” strike Iran but that he had advised against an attack while negotiations were ongoing, as the departure of US staff from the region fans concerns about a coming assault.“I don’t want to say imminent, but it looks like it’s something that could very well happen,” Trump told reporters at an event Thursday at the White House.In recent days, Trump has said he is less confident the US will reach a deal with Iran to curb its nuclear ambitions in exchange for sanctions relief. The president has repeatedly said that while he wants a diplomatic solution, he does not want Tehran to acquire nuclear weapons and warned the US could resort to military action if a deal is not reached.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: Center for Strategic and International Studies Senior Associate Natasha Hall. Beacon Global Strategies Managing Director Michael Allen. Bloomberg US Transport Deputy Team Lead Ryan Beene. Bloomberg Consumer Finance Reporter Paige Smith. 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.General Motors Co. plans to invest $4 billion in its US plants over the next two years in response to President Donald Trump’s tariffs in a move that reduces production in Mexico while boosting domestic output of some of its some of its top-selling gas-powered vehicles.The spending will expand factories in Michigan, Kansas and Tennessee. The moves will boost annual US production capacity by 300,000 vehicles, GM Chief Financial Officer Paul Jacobson said at a Deutsche Bank conference on WednesdayAssembly of several top-selling models, including its very profitable Chevrolet Silverado and GMC Sierra pickup trucks and the Chevrolet Equinox SUV, will move to factories in the US from Mexico. GM plans to add between 3,000 and 4,000 US jobs when all production is in place, a spokesman said.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's Matt Miller and General Motors CFO Paul Jacobsen. House Republican Conference Chairwoman Congresswoman Lisa McClain of Michigan. Bloomberg Economics Chief US Economist Anna Wong. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Any Senate tax bill that doesn’t exempt taxes on tips and overtime would be “dead on arrival” in the House, Ways and Means Chair Jason Smith (R-Mo.) said today on Bloomberg.GOP Sens. including Thom Tillis (N.C.) and Lindsey Graham (S.C.) expressed skepticism about the cost and economic wisdom of including the two provisions, which were key campaign trail promises made by President Donald Trump. Senators instead called for funds to be used to make temporary business tax breaks permanent.Such a change would a “no go” for House Republicans, Smith said. Sen. Josh Hawley (R-Mo.) said Trump told him this morning that tax exempt tips and overtime, as well as a tax cut for the elderly, are the most important provisions in the bill.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: Chairman of the House Ways and Means Committee Jason Smith. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg Intelligence Senior US Policy Analyst Nathan Dean. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.Representatives for both nations ended their first day of negotiations in London after more than six hours of discussions at Lancaster House, a 19th century mansion near Buckingham Palace. The talks concluded around 8 p.m. London time. The advisers will meet again Tuesday at 10 a.m. in the British capital, the official said. The US delegation was led by Treasury Secretary Scott Bessent, with Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer. The presence of Lutnick, the former Cantor Fitzgerald CEO, underscored the importance that export controls are playing in these discussions.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 Chief Political Correspondent Annmarie Hordern. Wiley Rein Partner Nazak Nikakhtar. Bloomberg's Tom Keene and Paul Sweeney interview former New York Governor and Candidate for Mayor of New York City Andrew Cuomo. S-3 Group Partner Ashley Davis. Bloomberg Politics Contributor Jeanne Sheehan Zaino and 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.When Elon Musk and Donald Trump joined forces during the presidential campaign, there was always a question over how long their alliance would last and who would prevail if it didn’t work out.After the public spat between the world’s richest man and its most-powerful leader spun out of control on Thursday, the answer was clear: It was Musk who eventually backed down when Tesla Inc.’s stock price tanked and his net worth crumbled by $34 billion. The damage to Musk’s business empire will be difficult to repair — with Tesla’s stock up only about 4% soon after the market’s open, recouping just some of its previous day’s slide.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 Chief US Economist Anna Wong. Former New Hampshire Governor Chris Sununu. Bloomberg Politics Contributor Jeanne Sheehan Zaino and Former RNC Communications Director Lisa Camooso Miller. Bankrate Washington Bureau Chief Mark Hamrick. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump proposed ending Elon Musk’s government contracts and subsidies, escalating the war of words between the world’s richest man and the president he helped elect. “The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it!” Trump posted on his social media site Thursday. Trump’s threat strikes at a main source of the billionaire’s wealth. Musk’s Tesla Inc. and Space Exploration Technologies Corp. have benefited from federal contracts and subsidies. Ending contracts with Musk’s companies could prove legally and practically unwieldy, given they are deeply intertwined with US space and defense operations. 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. Bloomberg Politics Contributor Jeanne Sheehan Zaino and BGR Group International Practice Principal Lester Munson. Washington DC Mayor Muriel Bowser. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.The House-passed version of President Donald Trump’s tax and spending bill would add $2.42 trillion to US budget deficits over the next decade, according to a new estimate from the nonpartisan Congressional Budget Office.The CBO’s calculation, released Wednesday in its so-called scoring of the “One Big Beautiful Bill,” reflects a $3.67 trillion decrease in expected revenues and a $1.25 trillion decline in spending over the decade through 2034, relative to baseline projections. The score doesn’t account for any potential boost to the economy from the bill, which could offset some of the revenue losses.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. Republican Senator Bill Hagerty of Tennessee. Democratic Senator Elizabeth Warren of Massachusetts. Bloomberg Politics Contributor Jeanne Sheehan Zaino and Lighthouse Public Affairs Founder Chapin Fay. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump worked the phones Monday and took to social media to try to sway Republican holdouts on his multi-trillion dollar tax bill, encountering conflicting demands from GOP senators even as he urged them to move swiftly. The legislation, which last month passed the House by one vote, faces opposition from both moderates and ultra-conservatives in the Senate, where Trump can afford to lose no more than three votes. “With the Senate coming back to Washington today, I call on all of my Republican friends in the Senate and House to work as fast as they can to get this Bill to MY DESK before the Fourth of JULY,” Trump wrote on Truth Social.The president gave lawmakers at odds with one another the feeling that he was on their side.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. Bipartisan Policy Center Senior Vice President Bill Hoagland. ROKK Solutions Partner Kristen Hawn and Bluestack Strategies Founder Maura Gillespie. American Property Owners Alliance Executive Director Colin Allen. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Significant changes are in store for President Donald Trump’s signature $3.9 trillion tax-cut bill as the Senate begins closed-door talks this week on legislation that squeaked through the House by a single vote. Senate Republican leaders are aiming to make permanent many of the temporary tax cuts in the House bill, a move that would increase the bill’s more than $2.5 trillion deficit impact. But doing so risks alienating fiscal hawks already at war with party moderates over the bill’s safety-net cuts. It amounts to a game of chess further complicated by the top Senate rules-keeper, who will decide whether some key provisions violate the chamber’s strict rules. Jettisoning those provisions — which include gun silencer regulations and artificial intelligence policy — could sink the bill in the House.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: Republican Congresswoman Lisa McClain of Michigan, Chairwoman of the House Republican Conference. S-3 Group Partner Ashley Davis and Iona University Professor Jeanne Sheehan Zaino. Stimson Center Senior Fellow Kelly Grieco. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Elon Musk said he will continue to advise President Donald Trump even after stepping away from the Department of Government Efficiency effort he has spearheaded.“I expect to remain a friend and an adviser, and hopefully, if there’s anything the president wants me to do, I’m at the president’s service,” Musk, the chief executive officer of Tesla Inc. and SpaceX, said alongside Trump during a press conference Friday at the White House. “This is not the end of DOGE, but really the beginning.”The comments raise questions over the extent of Musk’s plans to pull back from Washington and return to running his business empire. As the head of DOGE, Musk’s efforts to slash spending and cut government jobs has drawn pushback from federal workers and Democratic lawmakers as well as a consumer backlash to his business interests.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's Joe Deaux. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. International Chamber of Commerce Secretary General John Denton. Co-Host of the Odd Lots podcast Joe Weisenthal. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump pushed Federal Reserve Chair Jerome Powell to lower interest rates at their first in-person meeting since the president’s inauguration, the White House said.  The president told Powell that he believes the Fed chair is making a mistake by not lowering rates, White House Press Secretary Karoline Leavitt said at a briefing Thursday. That “is putting us at an economic disadvantage to China and other countries, and the president’s been very vocal about that, both publicly and, now I can reveal, privately,” she added.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's Tyler Kendall. Wiley Rein Partner Greta Peisch. Former Republican Congressman and Bloomberg Contributor Patrick McHenry. Bloomberg Economics Editor Stuart Paul and Bloomberg Economics US Economist Molly Smith. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. The White House will ask Congress next week to enact $9 billion of spending cuts into law — a small portion of the $175 billion in savings that Elon Musk’s Department of Government Efficiency claims to have found.  The cuts — first floated in April but waylaid amid efforts in the House to pass President Donald Trump’s tax bill — would target funding for the Public Broadcasting Service, National Public Radio and foreign aid in the current fiscal year, according to an Office of Management and Budget spokeswoman.  The renewed interest in the rescissions comes as Musk has criticized the “One Big Beautiful Bill” that Trump favored — and which passed the House last week — because it would increase federal deficits. 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: Republican Congressman Byron Donalds of Florida. Bloomberg Intelligence Financials Analyst Ben Elliot. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Atlanta Mayor Andre Dickens  See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.New sanctions against Russia are “absolutely” under consideration, President Donald Trump told reporters after Moscow launched its largest drone barrage in the war against Ukraine during a third night of strikes.Trump has grown visibly frustrated with Russian President Vladimir Putin and the state of talks meant to deliver a ceasefire in Ukraine. The US president has repeatedly threatened new sanctions in the past without following through.“I’m not happy with what Putin is doing,” Trump said Sunday before Moscow’s latest barrage. “He’s killing a lot of people, and I don’t know what the hell happened to Putin. I’ve known him a long time — always gotten along with him — but he’s sending rockets into cities and killing people, and I don’t like it at all.” In a Truth Social post later on Sunday, Trump said that Putin “has gone absolutely CRAZY!”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's Kate Sullivan. Center for Strategic and International Studies Senior Fellow for the Defense and Security Department Benjamin Jensen. FIL Inc. CEO Frank Luntz. Stonecourt Capital Partner Rick Davis and Third Way Executive Vice President for Policy Jim Kessler. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump dug in on his threat to impose a 50% tariff on the European Union and said a potential 25% charge on imported Apple Inc. smartphones would also apply to Samsung Corp. devices if they do not move production to the US. Trump said Friday in a social media post that the higher charge on the EU would start on June 1 because “our discussions with them are going nowhere,” adding that he saw the bloc as “very difficult to deal with.” The president later downplayed the EU’s ability to broker a lower rate, complaining about its trade practices and negotiating tactics and stating “I’m not looking for a deal. I mean, we’ve set the deal. It’s at 50%.”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's Tyler Kendall. US Fleet Forces Commander Admiral Daryl Caudle. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Former House Financial Services Committee Chairman 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’s signature tax bill narrowly passed the House Thursday morning, advancing a sprawling multi-trillion dollar package that would avert a year-end tax increase at the expense of adding to the US debt burden.The bill now heads to the Senate, where groups of Republicans are pressing for extensive change. Lawmakers plan to vote on approval by August. The bill includes a $4 trillion increase in the US debt ceiling, which the Treasury Department forecasts could otherwise force a default as soon as August or September, adding urgency to the timeline.The 215-214 House vote, with one abstention, was met with cheers from Republicans in the chamber. It followed a furious offensive by Trump, who visited the Capitol to rally Republicans, worked lawmakers by phone late into the night and summoned holdouts to the Oval Office. His budget office released a statement branding any GOP lawmaker who failed to support the package guilty of the “ultimate betrayal.”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: Republican Congressman Chuck Edwards of North Carolina. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. US Ambassador to NATO Matthew Whitaker. Bloomberg's Liz Capo McCormick. Republican Main Street Partnership President and CEO Sarah Chamberlain. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.The White House amped up the pressure on Republicans on Wednesday urging lawmakers to quickly approve President Donald Trump’s signature tax bill, adding that a failure to do so would be the “ultimate betrayal.”“The House of Representatives should immediately pass this bill to show the American people that they are serious about ‘promises made, promises kept.’ President Trump is committed to keeping his promises,” the White House’s Office of Management and Budget wrote in a memo endorsing the legislation.Republicans made some headway in advancing Trump’s bill on Wednesday. House Speaker Mike Johnson announced that he had an agreement with lawmakers from high-tax states to increase the limit on the state and local tax deduction to $40,000, winning over a key faction of members who had threatened to block the legislation. 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: Republican Congressman Mike Lawler of New York. Republican Congressman Kevin Hern of Oklahoma. ROKK Solutions Partner Kristen Hawn and Former RNC Communications Director Lisa Camooso Miller. Former US Ambassador to South Africa Patrick Gaspard. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.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. Bloomberg Deputy Capitol Influence Team Lead Mike Dorning. Republican Congressman Bryan Steil of Wisconsin. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Republican Congresswoman Nicole Malliotakis of New York. President Donald Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill. Trump told lawmakers in a meeting on Tuesday not to let the SALT deduction or differences over social safety-net cuts impede the bill. But afterwards members of warring factions told reporters they were still dug in in opposing the bill unless their changes are made.  Trump urged Republicans from New York and other high-tax states to wait to try to raise the SALT limit further until after Congress is done with the tax legislation, the official said, a proposal that is likely to draw backlash from SALT lawmakers who see the president’s “one big, beautiful bill” as their sole shot to address a political priority that dates back to 2017. Trump is also losing patience with a faction of conservative hardliners pushing for deeper cuts to Medicaid health coverage for the poor and disabled, the official said. The president implored Republicans to stick together and pass the bill the official said, adding that Trump expects every Republican to vote for the bill on the floor.Trump told lawmakers in a closed-door meeting on Tuesday he wants to keep the SALT deduction limit at $30,000, the level in the draft legislation. That’s three times the current $10,000 cap. In that meeting, Trump singled out the lawmakers from New York, New Jersey and California who have rejected the $30,000 deduction limit, saying it is insufficient to win their votes.See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump said that Moscow and Kyiv would begin talks “immediately” on ending the war in Ukraine after a phone call with Russian President Vladimir Putin on Monday. “Russia and Ukraine will immediately start negotiations toward a Ceasefire and, more importantly, an END to the War,” Trump said in a social-media post. “The conditions for that will be negotiated between the two parties, as it can only be, because they know details of a negotiation that nobody else would be aware of.”The US president said he had also briefed European leaders on his two-hour call with Putin and that the Vatican had offered to host the negotiations. He described “the tone and the spirit of the conversation” as “excellent. If it wasn’t, I would say so now, rather than later,” Trump added.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, Kailey speaks with: Ipsos US Public Affairs President Cliff Young. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg US National Security Team Lead Nick Wadhams. Atlantic Council Eurasia Center Senior Fellow Melinda Haring. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.House Republicans’ reconciliation package hit a wall in the Budget Committee, where conservatives may block the measure today over complaints that it front-loads tax cuts and delays spending reductions.There are at least three conservative members on the panel who oppose the bill, barring changes. GOP members can only afford to lose one vote, partly because Rep. Brandon Gill (R-Texas) has been out of Washington on paternity leave.Reps. Ralph Norman (R-S.C.), Chip Roy (R-Texas), and Andrew Clyde (R-Ga.) all plan to oppose the measure, unless their problems are resolved. There are a handful of other fiscal hawks on the panel who could jeopardize the vote including Reps. Josh Brecheen (R-Okla.) and Lloyd Smucker (R-Pa.)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, Kailey speaks with: Republican Congressman Nick LaLota of New York. Bloomberg Washington Deputy Bureau Chief Laura Davison. Former RNC Communications Director Lisa Camooso Miller and Democratic Strategist Roger Fisk. Committee for a Responsible Federal Budget President Maya MacGuineas. Former Republican Congressman Denver Riggleman. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.House Republicans are close to reaching an agreement on the state and local tax deduction, aiming to pass the tax bill next week, Speaker Mike Johnson says.Talks over SALT are on track to continue over the weekend, he tells reporters.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, Kailey speaks with: Bloomberg Government Congress Reporter Jack Fitzpatrick. Republican Congressman Marlin Stutzman of Indiana. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Republican Congressman Ryan Mackenzie of Pennsylvania. Bloomberg Editor in Chief Emeritus Matthew A. Winkler. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.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, Kailey speaks with: Bloomberg Washington Correspondent Tyler Kendall and Bloomberg Chief Political Correspondent Annmarie Hordern. Center for Strategic and International Studies Middle East Program Senior Fellow Natasha Hall. S-3 Group Partner Ashley Davis. Bipartisan Policy Center Senior Vice President Bill Hoagland. Stonecourt Capital Partner Rick Davis and Bully Pulpit International Managing Director Adam Hodge. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump’s campaign tax pledges — no taxes on tips and overtime pay, plus new tax breaks for car buyers and seniors — are the centerpiece of a multitrillion dollar package that will serve as Republicans’ signature legislative effort.In a draft version of the tax bill released on Monday, House Republicans highlighted the president’s populist priorities in a package that would enact those cuts through 2028. The bill would also make the lower individual tax rates Trump signed in 2017 permanent.The bill addressed a tax issue that has been dividing lawmakers since it was first restricted by Trump in 2017: the $10,000 cap on the state and local tax deduction. The plan raises the SALT limit to $30,000, but with limits for individuals earning more than $200,000 or couples making twice that. 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, Kailey speaks with: Spokesman for the Alliance for Competitive Taxation and Former Chair of the House Ways and Means Committee Kevin Brady. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg's David Gura following his interview with Former US Ambassador to China Nicholas Burns. Groundwork Collaborative Senior Fellow Kitty Richards. Democratic Candidate for US Senate in Michigan Abdul El-Sayed. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.The US and China will temporarily lower tariffs on each other’s products in a dramatic ratcheting down of trade tensions that buys the world’s two largest economies three months to work toward a broader agreement.The combined 145% US levies on most Chinese imports will be reduced to 30% including the rate tied to fentanyl by May 14, while the 125% Chinese duties on US goods will drop to 10%, according to a joint statement and from officials in a briefing Monday in Geneva.“Both sides agree we do not want a generalized decoupling,” Treasury Secretary Scott Bessent said in a Bloomberg Television interview Monday. “The US is going to do a strategic decoupling in terms of the items that we discovered during Covid were of national security interests — whether it’s semiconductors, medicine, steel,” he said.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, Kailey and Bloomberg Senior Editor Michael Shepard speak with: Bloomberg Washington Correspondent Tyler Kendall. Bloomberg Economics Chief US Economist Anna Wong. Yale University Professor of China Studies Samm Sacks. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg Contributor and Former Republican Congressman Patrick McHenry. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.US President Donald Trump floated an 80% tariff on China ahead of negotiations due to begin Saturday as he urged Beijing to do more to open their markets to US goods.“80% Tariff on China seems right! Up to Scott B,” Trump said in a social-media post Friday morning, referring to Treasury Secretary Scott Bessent. “CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!,” he said in a separate post.Bessent and US Trade Representative Jamieson Greer are set to begin talks with Chinese Vice Premier He Lifeng in Switzerland this weekend, the first public discussions between the world’s two largest economies on defusing a trade war that has seen Trump impose 145% levies on China and Beijing retaliate with 125% duties on many American goods.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, Kailey speaks with: Wiley Rein National Security Practice Group Lead and Former Assistant Secretary for Industry & Analysis at the International Trade Administration Nazak Nikakhtar. Bloomberg's Erik Wasson and Wendy Benjaminson. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Greenwich Media Strategies Founder and CEO Hagar Chemali. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Cardinal Robert Francis Prevost was elected as Roman Catholic pontiff, the first ever pope from the US and a possible bridge between the moderate and hardline sides of a divided Church.Prevost, 69, chose the name of Leo XIV for his pontificate and was greeted by thousands of cheering faithful as he stepped out onto a balcony overlooking St. Peter’s Square to be presented to the world.“May peace be with you,” the new pope told a cheering crowd waving flags. The new leader inherits from his predecessor Pope Francis a church that is facing internal strife between progressives and conservatives over matters such as divorce and LGBTQ+ issues, while trying to navigate geopolitical tensions from Russia’s war in Ukraine to the conflict in the Middle East.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 Senior Editor Michael Shepard is in for Joe. Kailey and Joe speak with: Mary C. Boys, Professor of Practical Theology at Union Theological Seminary.  See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Treasury Secretary Scott Bessent, as top spokesman for President Donald Trump’s economic policies, endured a sometimes-fiery hearing at the House Wednesday, peppered with Democratic legislators’ objections to initiatives including DOGE and tariff hikes on consumer products.In his first exchange with Maxine Waters, Bessent was queried on a lack of a face-to-face meeting with the top Democrat on the House Financial Services Committee.“This is the first time we’ve met — is that correct?” Waters said at the hearing. Bessent responded, “No ma’am — we actually met one New Year’s Eve in the Bahamas.”Waters, who chaired the committee when the Democrats held the majority, said, “He didn’t make an impression.” The Treasury chief then quipped, “You were much better at the electric slide than I was.”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, they speak with: Bloomberg Washington Correspondent Tyler Kendall. Republican Congressman Greg Murphy of North Carolina. Bloomberg National Security Reporter Courtney McBride. Groundwork Collaborative Managing Director of Policy and Advocacy. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.US President Donald Trump said he would prescribe tariff levels and trade concessions for partners looking to avoid higher duties, appearing to move away from the idea that he would engage in back-and-forth negotiations.“We’re going to put very fair numbers down, and we’re going to say, here’s — what this country, what we want. And congratulations, we have a deal. And they’ll either say ‘great,’ and they’ll start shopping, or they’ll say, ‘not good,’” Trump said Tuesday at the White House as he met with Canadian Prime Minister Mark Carney. “It’s going to be a very fair number, it’ll be a low number. We’re not looking to hurt countries,” he added.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 Correspondent David Gura hosts. David speaks with: Bloomberg Executive Editor for Canada Derek Decloet. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Former US Ambassador to Canada Bruce Heyman. Bloomberg US Treasury Reporter Daniel Flatley. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump suggested that his administration could strike trade deals with some countries as soon as this week, offering the prospect of relief for trading partners seeking to avoid higher US import duties.“It could very well be,” Trump told reporters on Sunday when asked whether any trade agreements were coming this week. He didn’t specify any countries.“We’re negotiating with many countries, but at the end of this, I’ll set my own deals — because I set the deal, they don’t set the deal,” Trump said aboard Air Force One. “You keep asking the same question: ‘When will you agree?’ It’s up to me, it’s not up to them.”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: Democratic Governor Michelle Lujan Grisham of New Mexico. Bloomberg Politics Contributor Jeanne Sheehan Zaino and Echo Canyon Consulting CEO Jon Seaton. Bloomberg Deputy Washington Bureau Chief Laura Davison. Bloomberg Managing Editor for Media and Entertainment Lucas Shaw. Bloomberg Intelligence Senior Commodity Strategist Mike McGlone. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.US job growth was robust in April and the unemployment rate held steady, suggesting uncertainty over President Donald Trump’s trade policy has yet to have a material impact on hiring plans.Nonfarm payrolls increased 177,000 last month after the prior two months’ advances were revised lower, according to Bureau of Labor Statistics data out Friday. The unemployment rate was unchanged at 4.2%.The report suggests the labor market continues to cool gradually, a sign that businesses facing heightened uncertainty around tariffs and turmoil in financial markets didn’t significantly alter their hiring plans. Most economists anticipate the brunt of the impact from punishing levies will be seen in coming months.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 Chief US Economist Anna Wong. Economic Policy Consultant Kathryn Edwards. Former OMB Director and former Acting White House Chief of Staff Mick Mulvaney. Democratic Congresswoman Mikie Sherrill of New Jersey, candidate for Governor of New Jersey. Democratic Michigan State Senator Mallory McMorrow, candidate for US Senate. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump blamed former President Joe Biden for weak economic data that sent stocks tumbling, arguing government data showing increased domestic investment signaled his tariffs are working.“I have to start off by saying, that’s Biden. That’s not Trump,” Trump said Wednesday during a Cabinet meeting.Inflation-adjusted gross domestic product decreased an annualized 0.3% in the first quarter, well below average growth of about 3%, according to initial government data published Wednesday.“Let’s give us a pass on the first month, we were sort of getting a little bit used to things,” Trump added.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's Michael McKee. American Action Forum President Douglas Holtz-Eakin. Bloomberg's Daniel Flatley. University of Michigan Professor of Public Policy and Economics Betsey Stevenson. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump is scheduled to sign an executive order easing the impact of his auto tariffs, preventing duties on foreign-made vehicles from stacking on top of other levies and lessening charges on parts from overseas used to make vehicles in the US.White House Press Secretary Karoline Leavitt said the administration would release the text of the directive, detailing the specifics of the action, later on Tuesday. The plan would change 25% tariffs on auto part imports, expected to start May 3, by allowing carmakers to claim an offset worth up to 3.75% of the value of a US-made vehicle for one year, a senior Commerce Department official said. 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's Molly Smith. Fireside Strategies Partner Alex Conant. Bloomberg's Tyler Kendall. Democratic Governor Laura Kelly of Kansas, Chair of the Democratic Governors Association. 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.Treasury Secretary Scott Bessent and congressional Republicans will meet to sketch out the plan for passing a multi-trillion tax cut in the coming weeks as polling shows that voters largely disapprove of the White House’s handling of the economy.Bessent and National Economic Council Director Kevin Hassett will meet with top congressional leaders Monday afternoon as lawmakers return from a two-week break. Senate Majority Leader John Thune, House Speaker Mike Johnson and the two tax committee chairmen Senator Mike Crapo and Representative Jason Smith are slated to attend, according to people familiar with the schedule.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: Ipsos President of US Public Affairs Cliff Young. Bloomberg Economics Chief Economist Anna Wong. Republican Congressman Bill Huizenga of Michigan. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg Correspondent David Gura. Manitoba Finance Minister Adrien Sala. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump suggested another delay to his higher so-called “reciprocal” tariffs was unlikely, raising pressure on nations to negotiate trade deals with his administration.Asked about the possibility of granting another 90-day pause, Trump cast that scenario as “unlikely,” while speaking to reporters aboard Air Force One on Friday. Trump also said that he would not drop tariffs on China, the world’s second largest economy, unless Beijing offers “something substantial” in return. Trump said he believed financial markets were adjusting to his tariff policy, downplaying the volatility that has hit equity and bond markets this month after he announced plans to hit about 60 US trading partners with higher duties.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's Tyler Kendall. Abroath Group Managing Director Christopher Smart. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg's Romaine Bostick. Former US Diplomat Mara Rudman See omnystudio.com/listener for privacy information.

Balance of Power: Trump Urges Putin to Stop Ukraine Strikes (Podcast) The US will demand that Russia accept Ukraine’s right to develop its own, adequately equipped, army and defense industry as part of a peace agreement, according to people familiar with the matter, pushing back on Russia’s insistence that the country largely demilitarize as a condition to end the war.US envoy Steve Witkoff will travel to Russia to raise the issue with President Vladimir Putin, according to the people, who spoke on condition of anonymity to discuss private negotiations. It’s a signal that President Donald Trump’s administration is seeking some concessions from the Kremlin, as well as Ukraine, as it tries to end a war that’s now into its fourth year. Critics have thus far viewed the US proposals as tilted toward Russia, including the Trump administration’s insistence that Ukraine give up its aspirations to join the NATO military alliance. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.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: Director of the Futures Lab and Senior Fellow with the Defense and Security Department at the Center of Strategic and International Studies Ben Jensen. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Operation Hope Inc. Chairman, CEO and Founder John Hope Bryant. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Confronted with fresh warnings from financial markets, business leaders and top advisers, President Donald Trump this week eased off on two of his frequent punching bags: Jerome Powell and China. Trump entered office with a steadfast desire to reshape the global economy. But his resolve has appeared to waver in the face of turmoil in equities and bonds and pleas from powerful executives who fear his sweeping tariffs and interference with the Federal Reserve could set off an economic calamity.Trump on Tuesday said he had no intention to fire Powell — despite days of criticism over the central bank’s policies — and said he believed a deal with Beijing would significantly reduce the sweeping tariffs he’s posted on Chinese goods. After a report that the US would be willing to phase in lighter tariffs on Beijing over five years on Wednesday, Trump told reporters that China was “going to do fine” once talks had settled.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 Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Atlantic Council Nonresident Senior Fellow Melinda Haring. Bloomberg Technology Co-Host Ed Ludlow. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.That de-escalation will come in the very near future, Bessent said during an event hosted by JPMorgan Chase & Co. in Washington, which wasn’t open to the public or media. He characterized the current situation as essentially a trade embargo, according to people who attended the session.Bessent said that it was not the US’s goal to decouple from China and that the current status quo of 145% tariffs on Chinese goods by the US and 125% tariffs on US products by China was not sustainable. He expressed optimism that tensions could cool in the coming months, which would bring relief to markets, but cautioned that a larger deal could take longer.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 White House Correspondent Kate Sullivan. Bloomberg Politics Contributor Rick Davis and ROKK Solutions Partner Kristen Hawn. Bloomberg International Economics and Policy Correspondent Michael McKee. EIU Chief Economist Constance Hunter. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell.Trump said in a social media post Monday that “there is virtually No Inflation,” pointing to lower energy and food prices.“But there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump said, referring to Powell.Economists widely expect Trump’s tariffs to boost inflation and slow growth, even if just temporarily. While inflation has cooled notably in recent years, it remains elevated. Powell, along with several of his colleagues, has underscored the central bank must ensure new levies don’t lead to a more persistent bout of inflation.Trump has rattled Wall Street by repeatedly criticizing Powell and suggesting he had the ability to remove the Fed Chair before the end of his term. US equities sank on Monday as traders weighed the chances Powell gets axed, with the S&P 500 Index falling more than 3%.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's Tyler Kendall. Bloomberg Intelligence Chief Equity Strategist Gina Martin Adams. Republican Congresswoman Nicole Malliotakis of New York. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg's Tony Capaccio. Beacon Global Strategies Managing Director Michael Allen. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump said during a meeting with Italian Prime Minister Giorgia Meloni that he expects to reach a trade deal with the European Union, but indicated he is in no hurry to finalize an agreement to reduce tariffs.“There’ll be a trade deal,” Trump said Thursday, adding “I fully expect it, but it’ll be a fair deal.”The president offered no time line for when he expected the first of the agreements to be finalized with trading partners seeking to avoid high tariffs, saying only that they would happen “at a certain point” and insisting that other nations would need to make concessions.“We’re in no rush,” Trump added. “We are going to have very little problem making a deal with Europe or anyone else.”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's Michael McKee and Tyler Kendall. Bloomberg Politics Contributor Rick Davis and Democratic Strategist Caitlin Legacki. Atlantic Council Nonresident Senior Fellow Rachel Rizzo. Editor of NASAWatch.com and Astrobiology.com, former-Scientist with NASA Keith Cowing. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.US President Donald Trump said he’ll attend a meeting Wednesday with Japan to negotiate tariffs, American military support and “trade fairness.”“Hopefully something can be worked out which is good (GREAT!) for Japan and the USA!” Trump wrote in a post on Truth Social.The Treasury and Commerce departments are leading the discussions in Washington.Treasury Secretary Scott Bessent has said Japan is likely to be prioritized because it stepped forward quickly. He envisions reaching agreements with Japan and other military allies so they could come up with a collective effort to apply economic pressure on China.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's Ed Ludlow and Tyler Kendall. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg's Nancy Cook. Immigration Attorney and Chair of the Immigration Practice Group at UB Greensfelder David Leopold. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.The European Union and US made scant progress bridging trade differences this week as officials from President Donald Trump’s administration indicated that the bulk of the US tariffs imposed on the bloc will not be removed.The EU’s trade chief, Maros Sefcovic, left the meeting with little clarity on the US stance, struggling to determine the American side’s aims, according to people familiar with the discussions. He met for about two hours with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer in Washington Monday. The US officials indicated that the 20% “reciprocal” tariffs — which have been reduced to 10% for 90 days — as well as other tariffs targeting sectors including cars and metals would not be removed outright, said the people, who spoke on the condition of anonymity.  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's Tyler Kendall. Vice President of Federal Tax Policy at the Tax Foundation Erica York. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Chief Investment Officer for US Bank Asset Management Eric Freedman. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump said he is exploring possible temporary exemptions to his tariffs on imported vehicles and parts to give auto companies more time to set up US manufacturing.“I’m looking at something to help car companies with it,” Trump told reporters Monday in the Oval Office. “They’re switching to parts that were made in Canada, Mexico and other places, and they need a little bit of time, because they’re going to make them here.”The president was asked what short-lived product exclusions he was considering but did not specify how long a potential pause or lowering of auto levies would remain in place.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, Kailey speaks with: Bloomberg's Tyler Kendall. Bloomberg's Ed Ludlow. Franklin Templeton Investments Global Equity Portfolio Manager Katrina Dudley. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone. Beacon Global Strategies Managing Director Michael Allen. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump has floated talks with his Chinese counterpart more than half a dozen times since the trade war started. But prospects look remote, even as their tariff fight appears to have peaked.Inflicting trade pain is unlikely to bring President Xi Jinping to the negotiating table. Instead, Chinese authorities seem intent on proving that they can withstand more economic and political suffering than their archrival.On Friday, Beijing hiked tariffs on all US goods to 125%, mirroring a move by the White House that pushed duties on Chinese imports to the same level, on top of an existing 20% tax. China said it won’t match any further hikes, calling the repeated use of steep tariffs economically meaningless, but reiterated its vow to “fight to the end” with other, unspecified countermeasures.“The fact that the Chinese authorities have once again matched US tariff hikes suggests that they are in no rush to negotiate with the Trump administration,” said Julian Evans-Pritchard, head of China economics at Capital Economics.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's David Gura is in for Joe. Kailey and David speak with: Bloomberg's Jordan Fabian. Arbroath Group Managing Partner Christopher Smart. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Chief Economist for SMBC Nikko Securities America Joe Lavorgna. Nonresident Senior Fellow with the Atlantic Council Global Energy Center Ellen Wald. See omnystudio.com/listener for privacy information.