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Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm John Tucker.
John, we begin with new developments on global tariffs. Bloomberg News has learned the Trump administration's working to narrow its broad duties on steel and aluminum products. We get more from Bloomberg Trade Czar Brendan Murray.
Well, what we know is the Trump administration has acknowledged that the steel and aluminum tariffs that they rolled out in waves last year are overly complicated for a lot of companies and have really created a lot of unintended consequences. victims that have to pay these tariffs. They rolled out the first 25% tariff in March of 2025. Then they raised it to 50% in June.
And then in August, they extended the scope of the tariffs to include a whole host of maybe hundreds of goods that contain steel and aluminum.
Bloomberg's Brendan Murray says ending or curtailing the derivative tariffs would be a positive step for the U.S.-EU trade accord.
And meanwhile, Nathan, the Environmental Protection Agency has revoked a key scientific finding that supported U.S. regulations on greenhouse gas emissions. Let's get more from Washington and Bloomberg's Amy Morris.
The move rescinds a 2009 declaration that carbon dioxide and other gases endanger public health. EPA Administrator Lee Zeldin calls this a major deregulatory action. President Trump says, ultimately, it saves money.
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Chapter 2: What are the latest updates on Trump's trade tariffs?
or will you vote to extend the chaos? Republicans chose chaos, and the Democrats, we refused.
Minority leader Chuck Schumer says Democrats want immigration agents to wear body cameras and obtain warrants, take off masks, and have limited immunity from lawsuits. Majority leader John Thune says the White House presented a good faith counteroffer but he says it looks like the Democrats aren't serious. Under a shutdown, most DHS employees will be expected to work without pay.
That includes the Transportation Security Administration, which could mean a strain at the airports.
And Nathan, more fallout this morning from the Jeffrey Epstein scandal. Goldman Sachs' top lawyer, Kathy Rumler, is leaving the firm following a of Department of Justice documents showing her links to the sex offender. Rumler, who will leave on June 30, was well known for her time as a White House counsel in the Barack Obama administration.
Chapter 3: How have the steel and aluminum tariffs impacted U.S. businesses?
She was hired by Goldman in 2020 and later became its legal chief.
Now, John, let's get an update on the search for Savannah Guthrie's mother, Nancy. Tomorrow will be two weeks since the Today Show host's mother was last seen at her home near Tucson. The FBI has doubled the reward for information that leads to her return to $100,000.
And investigators are asking neighbors to share surveillance camera footage of suspicious cars or people they may have seen in the month before Nancy Guthrie disappeared. This neighbor just hopes they find her.
She was the kindest, warmest, the most giving person I've ever met. And it was passed on to her daughter, Savannah, as well, because that's how Savannah is.
And the FBI has also released more information about the masked man seen in surveillance video from Nancy Guthrie's front porch. They now say he is a suspect. He's 5'9 or 5'10 with an average build and was wearing a black 25-liter Ozark Trail hiker pack backpack.
And Venezuela is planning a grand more oil production line to Chevron and Spain's Repsol. This comes as the Trump administration is pushing for private companies to rebuild the nation's energy sector. Sources are telling Bloomberg that officials in Caracas are poised to award the exploration and production blocks as soon as this week.
Energy Secretary Chris Wyatt, he spoke to Bloomberg's Anne-Marie Hordern about rebuilding the country's oil sector.
I think in the first year, we'll see pretty significant 30, 40% growth in Venezuelan oil production. This year, you can continue production growth rate at a pretty good clip. Venezuela does have the largest proved oil reserves, which is a technical concept, much larger than the U.S.
Energy Secretary Chris Rice speaking there to Bloomberg's Anne-Marie Hordern in Caracas. The Trump administration is expected to issue a general license to allow international oil companies to explore and produce in Venezuela without violating U.S. sanctions.
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