Bondi Ousted by Trump, US Restructures Broad Metals Tariffs, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
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News when you want it. With Bloomberg News Now, I'm Doug Krisner. Pam Bondi is leaving her position as U.S. Attorney General. Today in a post on Truth Social, President Trump said Bondi will transition to a new job in the private sector. Deputy AG Todd Blanch will serve as acting Attorney General. And we are told President Trump has discussed nominating EPA Administrator Lee Zeldin as a successor. Here is Matthew Seligman, founder of Greyhawk Law.
Well, I think it's telling that Lee Zeldin's name is being floated right now when Todd Blanch is the acting attorney general. He's been in the Department of Justice since the beginning of the second term. He served President Trump in a private capacity during the criminal prosecutions of President Trump. And yet the obvious choice, perhaps, is not being floated as the next choice. The reason why I think that's telling is because Todd Blanch, who is a very good lawyer, is also not a TV personality. And something that we've seen across President Trump's first and second term is that what he wants out of his cabinet officials is not only the execution of his policies and his priorities, but also a certain type of ability to present on TV and before Congress.
That is Matthew Seligman, founder of Greyhawk Law. Meantime, President Trump is reportedly weighing more changes to members of his cabinet. Politico reports Trump has expressed frustration and disappointment with Commerce Secretary Howard Lutnick and Labor Secretary Lori Chavez de Remer. According to Politico, Trump is very angry and he's going to be moving people. The Trump administration is reshaping its tariff policy on steel, aluminum, and copper. A tariff of 50% will be maintained on many imported steel, aluminum, and copper products, and at the same time, goods made with total steel, aluminum, or copper content below 15% will effectively be exempted. and some other derivative goods will be subject to a lower 25% rate if they are deemed to be substantially made of one of those metals.
Here is Henrietta Trey's Aveda Partners.
The president is being sued by hundreds of companies for the changes that he made to steel and aluminum tariffs, impacting downstream derivatives since last year. And it's because he violated the Administrative Procedures Act, which is he provided an undue burden to so many companies with the constant changing of tariffs that they sued him for. And they were potentially going to win that lawsuit. And that's why the USTR is coming out and Commerce coming out with a blanket understanding of where the tariff rates are going to be.
That is Henrietta Trey's of Veda Partners. Now, at the same time, the Trump administration will impose tariffs on certain imported medicines with rates of as much as 100 percent to pressure drug makers to manufacture more in the US. President Trump issued fresh threats today on iranian infrastructure in a bid to pressure tehran in negotiations in a post on truth social trump said the biggest bridge in iran was destroyed by airstrikes now trump's comments and the continued strikes on iran are complicating efforts by the u.s and partners to broker a deal with the islamic republic that will include reopening the strait of hormuz
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