November 14, 2025: Trump Cuts Tariffs on Beef & Coffee, FAA Eases Restrictions, More
episodePreviously titled “Trump Cuts Tariffs on Beef & Coffee, FAA Eases Restrictions, More” — renamed by the publisher on Aug 2, 2026
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News when you want it with Bloomberg News Now, I'm Ed Kalecki. President Trump issued an order Friday reducing tariffs on beef, tomatoes, coffee and bananas, a move aimed at lowering costs on groceries as the administration faces pressure from voters to cut prices on everyday goods. The exemptions would reduce trade levies on the commodities, which the White House said cannot be produced in the U.S. in sufficient quantity to meet domestic demand. Hundreds of food products, including coconuts, nuts, avocados, and pineapples, were among the products listed by the administration for exemption from tariffs. The tariff breaks are backdated to take effect at 12.01 a.m. New York time, November 13th. And some relief at the airport.
The U.S. Federal Aviation Administration has announced it will lower flight reductions to 3% from 6% beginning at 6 a.m. Eastern Saturday morning. The Justice Department announced it would launch an investigation into Jeffrey Epstein's ties to former President Bill Clinton, one-time Treasury Secretary Larry Summers, Democratic mega-donor Reid Hoffman, and JPMorgan Chase & Company at the public urging of Donald Trump. Afternoon emails prompted questions about the current president's own relationship with the disgraced financier. Attorney General Pam Bondi says she was tasking former Securities and Exchange Commission Chairman Jake Clayton who is now the U.S. Attorney for the Southern District of New York with the probe.
The U.S. Attorney's Office in the Southern District is one of the most prestigious, responsible for prosecuting many high-profile financial crimes and cases involving Wall Street. Politico is reporting House Republican leaders are planning to hold a vote Tuesday on legislation to force the release of federal files related to Jeffrey Epstein. A bipartisan group of House lawmakers is urging the Senate to help come up with a deal to address the expiration of health care subsidies. Bloomberg's Amy Morris reports from Washington.
13 House Republicans co-signed a letter with 19 House Democrats. support among some Republicans to resolve Democrats core demand to avoid Affordable Care Act premium increases. They're asking that representatives from both parties in the House be included in the talks aimed at averting what they're calling drastic premium increases that would affect more than 20 million Americans. In that letter, the lawmakers wrote that without a deal, millions of Americans will lose health care coverage because they won't be able to afford it. In Washington, Amy Morris, Bloomberg Radio.
Warren Buffett's Berkshire Hathaway has acquired 17.9 million shares of Google Parent Alphabet during the third quarter, while further trimming its holdings in Bank of America and Apple. Berkshire's Alphabet stake, representing 0.31% of the outstanding shares... was worth about $4.9 billion as of the market close. Buffett, who plans to step down as chief executive officer at year-end, has been finding ways to deploy some of Berkshire's cash pile, which rose to a record $382 billion at the end of the quarter. Google plans to invest $40 billion in three new Texas data centers, ramping up its footprint as competitors such as OpenAI and Anthropic map out their own multi-billion dollar bets in the state.
The investment will be made through 2027. One data center will be in Armstrong County in the Texas Panhandle and two in Haskell County, a stretch of West Texas near Abilene. One of the Haskell facilities will be co-located with a new solar and battery energy storage plant designed to ease the impact on the power grid. Federal Reserve Bank of Dallas President Lori Logan signals she will not support another interest rate cut unless the data warrants it.
I think it would be hard to support another rate cut unless we were to get convincing evidence that inflation is really coming down faster than my expectations or that we were seeing more than the gradual cooling that we've been seeing in the labor market.
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