August 23, 2025: Ukrainian Security Guarantees ‘Within Days,” Pentagon Blocking Missile Use, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Ed Kolegi. Ukrainian President Volodymyr Zelensky says all the developments to set up security guarantees for a post-war Ukraine will be ready in the coming days. Bloomberg's Aliesa Safranova is tracking developments for us from Kyiv. This means that we should understand who do what.
What security guarantees is Ukraine seeking from its allies?
What on the sea, in the air, on the battlefield or not on the battlefield, but and who is financing, for instance, because financing is also very important for Ukraine and Ukrainian army. President Trump is threatening Russia with massive sanctions over the war in Ukraine unless an agreement can be reached in about two weeks. The Wall Street Journal reports that U.S. officials say the Pentagon has for months been blocking Ukraine's use of long-range missiles to strike inside Russia, limiting Kiev from employing a powerful weapon in its fight against Moscow's invasion. A high-level Defense Department approval procedure which hasn't been announced, has prevented Ukraine from firing any U.S.-made long-range army tactical missile systems against targets in Russia since late spring.
On at least one occasion, Ukraine sought to use the weapons against the target on Russian territory but was rejected. The U.S. veto of long-range strikes has restricted Ukraine's military operations, as the White House has sought to woo the Kremlin into beginning peace talks. The Maryland man who became a face of the Trump administration's crackdown on immigration after being accidentally deported to El Salvador has been given a stark choice back in the U.S. Plead guilty to human smuggling charges or be sent to Uganda. A U.S. Immigration and Customs Enforcement representative allegedly made the threat against Kilmar Abrego-Garcia within minutes of his long-awaited release on bail Friday night. His lawyer said this at a filing Saturday in federal court in Nashville where the criminal case is underway.
The Florida detention camp known as Alligator Alcatraz is being run illegally by state workers who are holding immigrants off the grid. The American Civil Liberties Union said this in a new lawsuit filed hours after a judge in a different case ruled the facility must be dismantled. The ACLU on Friday sued a group of Florida agencies involved in operating the facility, alleging they're violating federal laws that strictly limit how states can participate in immigration enforcement. Canadian Prime Minister Mark Carney is visiting Poland, Germany and Latvia to strengthen defense and industrial partnerships, with a particular focus on growing his country's nuclear and critical mineral sectors. Carney arrived in Poland Saturday and intends to meet with Prime Minister Donald Tusk on Monday.
He'll meet with German Chancellor Friedrich Merz in Berlin Tuesday and the Latvian Prime Minister on Wednesday. Dominic LeBlanc, the minister responsible for Canada-U.S. trade, was asked on Bloomberg's balance of power if they have gotten any indication the 50% tariff rates on steel and aluminum would come down. No, not yet. We're optimistic. We're continuing to talk to Secretary Lutnick and others in the – Ambassador Greer, others in the administration. But the Section 232 tariffs on the strategic sectors – The president has applied with very little relief. Earlier on Friday, Carney announced that Canada will end counter-tariffs on tens of billions of dollars of U.S. goods imposed under his predecessor, Justin Trudeau, saying Trump indicated this would restart trade talks that have stalled.
Federal Reserve Bank of Chicago President Austin Goolsbee credited Jerome Powell for the low level of disagreement across the range of Fed officials during his eight-year tenure as chair. I'm a longtime fan of Jay Powell. I think he's a first ballot Hall of Fame Fed chair, and he has great judgment. He is also... navigated a pretty diverse set of worldviews on that committee. You can hear more from Austin Goolsbee on the Otlots podcast. Goolsbee speaking on the sidelines of the Kansas City Fed's economic symposium in Jackson Hole, Wyoming, said it had less to do with FOMC members taking the same view of the economic data and more to do with Powell's ability to forge consensus.
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