Episode summary
Trump Signals Deportation Strategy Shift After Minnesota Outcry | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec · Guests: Wendy Schiller, Stephanie Guild, Rebecca Homkes, Stephanie Aliaga
Summary
President Trump’s move to send border czar Tom Homan to Minneapolis after a fatal shooting by federal agents set up the episode’s central question: whether the administration is beginning to soften its deportation crackdown in response to political blowback. A guest said the White House is facing a growing public backlash to ICE tactics, with more than 60% of Americans disapproving, and argued that Trump now has to “clear the decks” because the controversy is threatening his presidency and possibly Republican funding talks in Congress. The guest also framed Minnesota Governor Tim Walz’s outreach as an effort to restore calm rather than confront Washington directly.
The discussion then shifted to corporate responses, with the host noting that more than 60 Minnesota CEOs called for deescalation. A guest argued that companies are moving from silence toward a tipping point, helped by public opposition and consumer pressure, and that some leaders may now feel safer speaking up because the issue has become about loss of life rather than just business disruption. The guest also said many CEOs are still trying to stay out of the administration’s way.
The episode finished on markets, where guests said investors are still overwhelmingly focused on U.S. tech and the AI trade even as Europe attracts big inflows. One strategist said the AI story is broadening beyond the biggest names into utilities, industrials, and infrastructure, while another said the next Fed chair matters less than whether markets avoid political interference and keep seeing a constructive economic backdrop.
Key takeaways
- A guest said Trump’s Minneapolis response looks like an attempt to deescalate a political wound from immigration raids and a fatal shooting.
- A guest said more than 60% of Americans now disapprove of ICE tactics, putting pressure on Republicans and funding negotiations.
- The discussion said Minnesota CEOs may be reaching a tipping point as consumer pressure and public opposition make speaking out safer.
- A Robinhood executive said U.S. investors still heavily favor domestic tech, AI, and the Mag 7 over international exposure.
- A JPMorgan strategist said the AI trade is broadening into utilities, industrials, and infrastructure, not just the biggest chip and software names.
Notable quotes
“President Trump is sending US borders are Tom Hman to Minneapolis amid a growing outcry over his immigration crackdown”
“he's underwater in the 60s, meaning more than 60% of Americans disapprove of ICE tactics”
“More than 60 CEOs of Minnesota based companies called for an immediate deescalation of tensions”
“the AI opportunity set is not limited to the company spending the most”
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 Stenc on Bloomberg Radio.
I'm sure by now you know that President Trump is sending US borders are Tom Hman to Minneapolis amid a growing outcry over his immigration crackdown that was inflamed last weekend when federal agents fatally shot a US citizen. Now, this is happening as a growing number of Republicans called for a full investigation after federal agents shot and killed that protester in Minneapolis. It's really tim and you you really stressed this on our our call this morning about we're seeing some tensions within the GOP.
Yeah, it's a sign of unease within the party about the administration's aggressive immigration tactics. We're seeing some members of Congress talk in a way right now that they don't typically talk about uh and going against what the president says. Remember, we're in a different political environment now than I think it's fair to say we've ever been in.
And CEOs starting to speak out and we're going to dig into that over the next 60 minutes as well. Um, we want to bring in Wendy Schiller, certainly well known to the Bloomberg audience, professor of political science at Brown University. She joins us from Providence, Rhode Island.
Wendy, good to have you here. President Trump was out on social at 11:39 a.m. Eastern saying he had a very good call with Minnesota Governor Tim Walls.
Expects to speak to him again in the near future. He said that Walls called the president to request to work together.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- immigration enforcement
- deportation policy
- federal reserve policy
- interest rates
- us tariff policy
Companies and tickers mentioned
- HOOD
- JPM
- Robinhood Markets
- JPMorgan Asset Management
- Bloomberg
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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