Episode summary
Walz Clashes With Noem Over ICE Shooting Probe; Trump’s Tariffs Face Supreme Court Test |...
Bloomberg Daybreak: US Edition
· · 15 min
Summary
Federal and state officials are clashing over the Minneapolis killing of a US citizen by an ICE agent, with the FBI taking control of the probe over Governor Tim Walz’s objections. The host and a guest said Minnesota authorities questioned whether a federal investigation could be trusted after Trump administration officials appeared to excuse the officer, while Walz said he had the National Guard “staged and ready” if needed. A separate Portland shooting involving a border patrol agent added to the day’s focus on federal force and local unrest.
Markets and policy were centered on the Supreme Court’s expected ruling on President Trump’s emergency tariffs. A guest said the White House has fallback options, including Section 122, a temporary 15% tariff authority, plus existing Section 301 and 232 tools, but warned that losing the case would still create major disruption. The episode also covered a likely key jobs report showing about 70,000 December payroll gains, with analysts looking for signals on Fed cuts.
Other headlines included Trump’s decision to cancel planned strikes on Venezuela, reports that the US may consider paying Greenland residents to split from Denmark, rising protests in Iran, House passage of a bill to restore Obamacare tax credits, and talk that Rio Tinto could buy Glencore to create a mining giant.
Key takeaways
- The host said the Minneapolis ICE shooting probe is now with the FBI, despite Governor Tim Walz’s objections and state distrust of the federal process.
- A guest said the White House’s backup if it loses the tariff case includes Section 122, a short-lived blanket tariff authority of up to 15%.
- The guest said Section 301 and Section 232 tariffs are already available and could be rolled out within days if the Supreme Court rules against Trump.
- The host said economists expect about 70,000 new US jobs in December, making the report the first clean read since September.
- A guest said a Supreme Court loss would be disruptive because the tariffs are central to Trump’s trade strategy and negotiating leverage.
- The episode said Rio Tinto and Glencore talks could create the world’s biggest mining company, with a combined value above $200 billion.
Notable quotes
“the FBI is taking control over the probe over the objections of Governor Tim Waltz”
“A ruling against Trump would undercut his signature economic policy and deliver his biggest legal defeat since returning to the White House”
“The justices could make a decision on the legality of the Trump Tariffs”
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 another shooting involving federal agents, this time in Portland, Oregon. Let's get the latest from Bloomberg's John Tucker. and Nathan. The Department of Homeland Security said a border patrol agent in Portland quote fired a defensive shot at a vehicle after the driver quote weaponized it and drove off. Oregon's governor is Tina Cotek.
We are all shaken and outraged by another terrible unnecessary violent event instigated by the reckless agenda of the Trump administration. A Portland police chief Bob Day told reporters that two people were later taken to a hospital. He did not know their conditions.
We found a male and a female with apparent gunshot wounds. Officers applied a tourniquet and some emergency medical personnel.
The Portland shooting occurs a day after an ICE officer shot and killed a woman in Minneapolis. In that shooting, the FBI is taking control over the probe over the objections of Governor Tim Waltz. A state authorities questioned whether a federal probe could be trusted, especially given comments by Trump administration officials, but seemed to exonerate the officer in that fatal shooting.
Homeland Security Secretary Christy Gnome said Minnesota doesn't have jurisdiction. Vice President JD Vance said the agent who fired the deadly shot is protected by absolute immunity. I'm John Tucker, Bloomberg Radio.
All right, John. Thank you. We want to get to breaking news out of the White House. President Trump said he's cancelling a planned second wave of strikes on Venezuela. In a truth social post overnight, the president said the country is releasing large numbers of political prisoners as a sign of seeking peace.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- ice shooting probe
- fbi state-federal tensions
- supreme court tariff legality
- trump tariffs
- obamacare subsidies extension
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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Bloomberg Daybreak: US Edition, this episode and its artwork belong to Bloomberg. Octagon is not affiliated with the show; this page is an independent summary.
