Trump Address Preview, Court Doubtful of Trump Birthright Curbs, More
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News when you want it. With Bloomberg News Now, I'm Doug Krisner. Today, Iran's President Masoud Prozhetsky released a letter to the American people, and he stated the path of confrontation is more costly and futile than ever before. He also suggested the possibility of diplomatic engagement. Meantime, President Trump is set to address the nation tonight regarding the war. A White House official says Trump will update the war's progress and address a two- to three-week timetable for its conclusion. We got the view of former Vice President Mike Pence.
At the end of the day, this was not a moment where America started a war a month ago. This was about a president and American military and courageous Israeli forces being willing to try and end a war that's been being waged. against America, Israel, and the West for all those decades.
Former Vice President Mike Pence speaking on Bloomberg's Balance of Power podcast. The US Supreme Court cast doubt on President Trump's bid to roll back automatic birthright citizenship. Now, the 14th Amendment grants automatic citizenship to any child born in the U.S. This case involves President Trump's executive order to overturn the constitutional and statutory protection of birthright citizenship. Today, Trump attended oral arguments and stayed for a little more than an hour hearing the government side of the case. Now, the justices peppered the administration's lawyer with questions. Here's an exchange between Chief Justice John Roberts and Solicitor General John Sauer.
Their interpretation has these implications that could not possibly have been approved by the 19th century framers of this amendment. I think that shows that their interpretation has made a mess of the provision.
Well, it certainly wasn't a problem in the 19th century.
No, but of course, we're in a new world now, as Justice Alito pointed out, to where 8 billion people are one plane ride away from having a child who's a U.S. citizen. Well, it's a new world. It's the same Constitution.
Now, the Supreme Court is scheduled to rule in this case by early July. SpaceX has filed confidentially for an initial public offering. We're told the company submitted its draft registration to the SEC. It puts the company on track for a June listing with the aim of raising as much as $75 billion. We are told SpaceX could seek a valuation of more than $1.75 trillion. Here is Bloomberg's Anthony Hughes.
This really suggests that the deal is going full steam ahead. And I think all the body language we've seen in recent, even in just the last two or three days, we've seen a number of stories about different things that are happening around the deal. And it's really sort of indicated that it's full steam ahead and everyone's pretty confident they can get this done actually by June.
That is Bloomberg's Anthony Hughes. Now, the SpaceX listing would make it the first of what could be a trio of mega IPOs ahead of OpenAI and Anthropic. The Trump administration is reportedly preparing to reshape its tariff policy on steel and aluminum. The Wall Street Journal reports levies of 25% will apply to the entire value of a finished product that would replace the current 50% duty, which only applies to the value of steel or aluminum used in a product.
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