Episode summary
Us & Iran Shun Diplomacy, 100% Drug Tariffs Plan | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 16 min
Summary
The broadcast centered on the escalating US-Iran conflict, with the host and a guest reporting that US airstrikes widened overnight to a military site near Tabriz while Iran struck facilities in Kuwait and Jordan. A Bloomberg Middle East guest said the focus is now the Strait of Hormuz, but added that there is little sign Iran will back down. The host also noted that the White House is downplaying the chance of diplomacy, with President Trump saying the US has no interest in talks until Iran is ready to meet in a meaningful way.
Washington is also wrestling with the cost of the war. The host said Defense Secretary Pete Hegseth told senators the updated estimate is $37.5 billion through September 30th, versus an earlier figure of about $29 billion. Senators Rick Scott and Mark Warner offered sharply different reactions, with Scott framing the spending as necessary to prevent Iran from getting a nuclear weapon and Warner calling it a war of choice that the president never adequately justified.
The show also covered Trump’s planned 100% tariff on generic drug imports starting in August 2028, doubling to 200% a year later for firms that do not move production to the US. Bloomberg’s guest said the move could raise costs, squeeze thin margins, and risk higher prices and shortages in a market that supplies more than 90% of US prescriptions.
Key takeaways
- The host said US strikes in Iran have expanded to a military site near Tabriz, while Iran has responded with attacks on facilities in Kuwait and Jordan.
- A Bloomberg Middle East guest said there is little sign Iran will back down and that both sides are signaling escalation rather than de-escalation.
- Defense Secretary Pete Hegseth’s updated war cost estimate is $37.5 billion through September 30th, up from the earlier $29 billion figure cited to lawmakers.
- The host said Trump’s planned generic drug tariffs start at 100% in August 2028 and would rise to 200% in August 2029 for companies that do not build in the US.
- Bloomberg’s guest said the tariff plan could raise manufacturers’ costs and create higher prices or shortages for generics that account for more than 90% of US prescriptions.
Notable quotes
“The US is widening its air strikes on Iran in an 11th straight night of attacks”
“I will tell you, they want to desperately meet and until they're ready to meet in a meaningful way, we have no interest”
“the estimate we have as of today is 37.5 billion”
“Generic drug manufacturers are going to have two years to move production to the US or face a 100% import duty”
How the episode opens
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 the latest from the Middle East. The US is widening its air strikes on Iran in an 11th straight night of attacks. Iranian media report the US struck a military site near the northwestern city of Tabre.
US Central Command has confirmed attacks on Iran's command centers, launch sites, and air defenses near the Strait of Hormuz. Thran has responded with strikes on facilities in Kuwait and Jordan. And Iranbacked Houthi militants in Yemen are threatening to impose a maritime blockade on Saudi Arabia in the Red Sea.
President Trump says he's not concerned about that.
So far, it hasn't happened. Might happen. Uh but we take care of things. If something like that happens, we take care of it. You know, we've done that with the Houthis before and we haven't heard from them in a while.
President Trump spoke alongside Lebanon's President Joseph Aun in the Oval Office. We get more from Bloomberg Middle East managing editor Paul Wallace.
Things seem to be um escalating. The focus is very much the Strait of Hormuz. The US is saying its attacks are designed its attacks on Iran are designed to make Thran reopen the strait and stop attacking ships going through this vital waterway.
But as I said, there's just little sign that Iran is going to um uh back down. We know and we've seen this um from the start of this war in late February that Iran has a very high pain threshold. In the meantime, Bloomberg's Paul Wallace reports the Pentagon announced an Army sergeant from Queens is thought to have been killed in an attack in Jordan last Friday.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- us-iran tensions
- airstrikes
- drug tariff plan
- reshoring generic pharma
- voting registration error
Watch the episode
Watch “Us & Iran Shun Diplomacy, 100% Drug Tariffs Plan | Bloomberg Daybreak: US Edition” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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