Episode summary
US to Narrow Metals Tariffs; DHS Shutdown Looms as Senate Fails to Cut Deal | Bloomberg...
Summary
The episode centered on the Trump administration’s effort to narrow its steel and aluminum tariffs after companies complained the duties were too complex to calculate and were hitting domestic users of steel as well as foreign exporters. A guest said the White House is considering a more tailored approach, possibly pulling back derivative-product tariffs added in August and creating exclusions, which could also help smooth over tensions with the European Union and support the pending trade accord.
The broadcast also covered the EPA’s move to revoke the 2009 endangerment finding, which the host said underpinned federal climate rules for vehicle emissions. President Trump said the change would cut regulatory costs by more than $1.3 trillion and lower car prices, while environmental and legal experts said it opens the door to broader climate rollbacks.
On Capitol Hill, the Senate failed to advance a Homeland Security funding bill, raising the prospect of a partial shutdown at DHS that would leave most employees working without pay and could strain airport operations. The show also noted Goldman Sachs lawyer Kathy Remler’s planned departure after Epstein-related documents surfaced, plus market and policy developments including Applied Materials’ stronger outlook, Steven Myron’s call for lower rates, and Chris Wright’s prediction of faster oil growth in Venezuela.
Key takeaways
- The guest said the administration may narrow steel and aluminum tariffs by trimming derivative-product duties and adding exclusions for hard-to-calculate imports.
- The guest said easing the tariff structure could help the US-EU trade deal by addressing Brussels’s objections to the derivative tariffs.
- Trump said revoking the endangerment finding would eliminate more than $1.3 trillion in regulatory costs and help bring car prices down.
- The Senate’s failure to advance the Homeland Security bill points to a partial DHS shutdown that could leave TSA workers on the job without pay.
- The guest said tariff pressure and inflation concerns are pushing the White House toward a more moderated approach on trade policy.
Notable quotes
“the Trump administration is working to narrow its broad duties on steel and aluminum products”
“This action will eliminate over $1.3 trillion of regulatory cost and help bring car prices tumbling down dramatically”
“Under a shutdown, most DHS employees will be expected to work without pay”
“the administration is going to come come at this with a more tailored approach rather than the sort of shotgun approach they had last year”
“American consumers and businesses are paying uh the lion share of of the tariff bill”
How the episode opens
Bloomberg Audio Studios podcasts radio news. — Good morning. I'm Nathan Hager — And I'm John Tucker. Here are the stories we're following today.
John, we begin with new developments this morning on global tariffs. Bloomberg News has learned the Trump administration is working to narrow its broad duties on steel and aluminum products. We get more from Bloomberg Global Trades Brendan Murray.
Well, what we know is the Trump administration has acknowledged that the the steel and aluminum tariffs that they rolled out in waves last year uh are are overly complicated uh for a lot of companies and have really created a lot of unintended uh victims uh that that have to pay these tariffs. They rolled out the the first 25% tariff in in March of 2025. Then they raised it to 50% in June.
And then in August, they extended the scope of the tariffs uh to include a whole host of maybe hundreds of of goods that contain steel and aluminum.
Bloomberg's Brendan Murray says ending or curtailing the derivative tariffs would be a positive step for the US European Union trade accord. And meanwhile, Nathan, the Environmental Protection Agency has revoked a key scientific finding that supported US regulations on greenhouse gas emissions. Let's get that story from Washington at Bloomberg's Amy Morris.
The move rescends a 2009 declaration that carbon dioxide and other gases endanger public health. EPA administrator Lee Zeldon calls this a major deregulatory action. President Trump says ultimately it saves money. — This action will eliminate over $1.3 trillion of regulatory cost and help bring car prices tumbling down dramatically. The so-called endangerment finding serves as the legal foundation for a lot of environmental rules, including federal standards for vehicle emissions. Trump says he'll also repeal those.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- metals tariffs
- trade negotiations
- climate regulation rollback
- dhs shutdown
- immigration enforcement funding
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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