Episode summary
‘MAGA Is Split': Trump Digs In on Iran War, Divides Loyalists | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec · Guests: Nancy Cook, Jennifer Welch, Madison Muller, Jordan Fabian
Summary
President Trump’s widening war with Iran is creating a political and market test at the same time. The host and guests argued that Trump is digging in on an Iran policy built around “unconditional surrender,” even as oil prices spike, equities and bonds wobble, and the White House faces growing questions about the mission and the endgame. The central concern is that a conflict launched without a clear public case could become a long, destabilizing drag on the economy and on Trump’s standing heading into the midterms.
A guest said the backlash from MAGA figures like Tucker Carlson, Megyn Kelly, and Marjorie Taylor Greene reflects a deeper break with Trump’s America First promise to avoid Middle East entanglements. The guest also said Republican strategists fear the war could overshadow affordability, raise gas prices, and help Democrats win the House while Republicans narrowly hold the Senate. Another guest said Trump is treating the conflict as a legacy project and is ignoring advisers who want him focused on the economy.
The episode also covered Iran’s new hardline supreme leader and the risk that oil-market disruption lasts longer than the administration expects. The analysts said higher energy prices could feed inflation and possibly stagflation if the Strait of Hormuz remains threatened.
Later, the show turned to a surprise reversal between Novo Nordisk and Hims & Hers, with the companies ending their legal fight and moving to cooperate on obesity drugs. The program closed with the departure of the FDA’s vaccines and gene therapies chief, which was framed as a welcome relief for biotech investors.
Key takeaways
- A guest said MAGA backlash to the Iran war shows Trump is violating his own America First anti-intervention brand.
- A guest said Republicans privately fear the conflict could cost them the House if oil and grocery prices keep rising.
- An analyst said the biggest market risk is a prolonged disruption in the Strait of Hormuz, which could push oil well above 110.
- The host said Trump is increasingly acting like a foreign policy president focused on legacy rather than affordability.
- A guest said Novo Nordisk and Hims & Hers reversed course after months of acrimony and will work together to sell obesity drugs.
Notable quotes
“he'd accept no deal with Iran other than unconditional surrender”
“there are a bunch of uh maggot influencers who have huge names and huge megaphones”
“he sees these huge opportunities to resh reshape the global order”
“we could see prices rise much higher and the impact on inflation could be quite significant”
“this was a planned departure that he had only really uh planned to be at the agency for like a year”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. This is Bloomberg Business Week Daily. Reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy.
Plus, global business, finance, and tech news as it happens. The Bloomberg Business Week Daily podcast with Carol Masser and Tim Stenbec on Bloomberg Radio. So, we've got the midterms coming in November.
We know that. And some are wondering a lot about the political cost of President Trump's war in Iran. President has been emphatic about his intentions in the widening Middle East war.
He said just on Friday he'd accept no deal with Iran other than unconditional surrender and pledge the US will work tirelessly to restore the country's economy if a new leader is installed whom he deems acceptable. That was Friday. We know Iran now has a new leader uh as we just talked about with our own Jenny Welch in the last segment.
So let's get to more on how some Make America Great Again influencers and GOP politicians are expressing backlash against President Trump's policies. It's a recent Bloomberg big take. It's something we were talking about all over the weekend.
With us is Bloomberg News senior national political correspondent Nancy Cook. She is in the Bloomberg News Washington DC bureau. Nancy, great to have you here with us.
Great story. Tell us about this chorus of betrayal. Uh who they are and what they are up to.
Well, thanks so much for having me. Um really what has been happening as Trump has uh bombed Iran with along with Israel is that there are a bunch of uh maggot influencers who have huge names and huge megaphones including Tucker Carlson, Megan Kelly of the former lawmaker Marjorie Taylor Green who do not agree with this military incursion and have been really vocal on it.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- iran war
- oil prices
- gasoline prices
- energy commodities
- biosimilar drugs
Companies and tickers mentioned
- NVO
- HIMS
- Novo Nordisk
- Hims & Hers Health
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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