Trump's Biggest EPA Rollback, DHS Deadline Looms, More
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News when you want it with Bloomberg News Now. I'm Doug Krisner. The Trump administration has made what could be the largest rollback of environmental protections in years. Today, the president rescinded the so-called endangerment finding. This is a scientific determination that greenhouse gases pose a threat to human health and welfare. Here is Trump making the announcement.
We are officially terminating the so-called endangerment finding, a disastrous Obama-era policy that severely damaged the American auto industry and massively drove up prices for American consumers. Prices went up incredibly for a worse product. This action will eliminate over $1.3 trillion of regulatory costs and help bring car prices tumbling down dramatically.
Now environmental groups have pledged to challenge this decision in court. The Department of Homeland Security is on the verge of a shutdown on Saturday. That's after the Senate failed to advance a funding bill. West Virginia Republican Senator Shelley Moore Capito says more training for ICE agents can help resolve a lot of issues.
More cameras, more training, more IG or inspectors, inspections. These improvements can be made. They're already built into the bill that the Democrats will not accept. And I think they're using this as a political statement. I think if we pull it out, it becomes even more polarized and more political.
Now, many DHS workers will be expected to work without pay during a shutdown if one were to occur, and a prolonged shutdown would risk roiling TSA workers at airports. The Trump administration is retreating from its immigration enforcement blitz in Minnesota. This pullback comes after more than two months of operations, and in that time, two U.S. citizens were killed. Here is White House Border Czar Tom Homan.
This surge operation and our work here with state and local officials to improve coordination and achieve mutual goals, as well as our efforts to address issues of concern here on the ground, have yielded the successful results we have gained. came here for.
Homan also said a significant drawdown is already underway and will continue into next week. The U.S.
What are the implications of Trump's EPA rollback on environmental protections?
and Taiwan have finalized a trade agreement. It will reduce tariffs on goods from Taiwan. It will also boost access for American goods in Taiwan's market, including liquefied natural gas and crude oil. Here is Bloomberg's Laura Davison.
The underpinning of the U.S.-Taiwan relationship is this military relationship. The U.S. is Taiwan's main military backer, and Taiwan is worried that if the U.S. is no longer as dependent on Taiwan, that that could change the balance of that relationship. However, a win for Taiwan here is they did get this agreement finalized before Trump's scheduled meeting to go to meet with Xi Jinping. in April. This was a concern that, you know, if this deal was still out and really open for negotiation, that Xi Jinping could get Trump to back down on some of these key things that the Taiwanese want.
That is Bloomberg's Laura Davison. Venezuela is planning to grant more land to Chevron and Spain's Repsol as the Trump administration pushes for private companies to rebuild Venezuela's energy sector. We are told officials in Caracas are poised to award the exploration and production blocks as soon as this week. Energy Secretary Chris Wright is in Caracas. That's where we spoke with Bloomberg's Anne-Marie Hordern.
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.
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