Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump reached a trade deal with Japan that will impose 15% tariffs on imports including automobiles from the key American ally, while creating a $550 billion fund to make investments in the US.

The agreement, touted by Trump after he secured breakthroughs in a final 75-minute Oval Office meeting Tuesday with Japanese negotiators, spares the nation from a threatened 25% tariff that was set to take effect next week.

“They had their top people here and we worked on it long and hard, and it’s a great deal for everybody,” Trump said at a White House event Tuesday evening.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Bloomberg Washington Correspondent Tyler Kendall is in for Kailey. Joe and Tyler speak with:

• Bloomberg White House Correspondent Josh Wingrove.
• Democratic Congressman Brendan Boyle of Pennsylvania.
• Senior Counselor to the President and Director of the Office of Trade and Manufacturing Policy at The White House Peter Navarro.
• Republican Senator Bill Cassidy of Lousiana.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump said the US reached an agreement with the Philippines setting a 19% tariff on the country’s exports, the latest pact ahead of an Aug. 1 deadline.

Trump initially imposed a 17% rate for the US ally in April, which was paused to allow time for negotiations. He then threatened earlier this month to raise the charge to 20%.

Trump announced the deal on social media Tuesday after meeting with Philippines President Ferdinand Marcos Jr. The minor reduction underscored the difficulty foreign leaders are facing as they attempt to convince the US president to grant relief from his country-based tariffs.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe speaks with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Former Deputy National Security Adviser for Cyber and Emerging Technology in the Biden Administration Anne Neuberger.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• International Capital Strategies Founder and Managing Partner Doug Rediker.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

For President Donald Trump, whose political career has benefited from voter anxiety over Washington elites, the health of his predecessor and the riches of Wall Street, the past week offered a reversal of fortune.

Trump’s efforts to escape the uproar over Jeffrey Epstein failed spectacularly, after the Wall Street Journal published a story alleging he once sent a suggestive birthday letter to the disgraced financier — a claim the president denied.

The White House was forced to make a rare disclosure that Trump wasn’t in perfect health. And Trump whipsawed on the fate of Federal Reserve Chairman Jerome Powell, signaling to lawmakers that he would attempt to fire him before relenting after concern about a market backlash.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe speaks with:

• Bloomberg Senior National Political Correspondent Nancy Cook.
• Bloomberg Washington Correspondent Tyler Kendall.
• Sabato's Crystal Ball Managing Director Kyle Kondik.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.
On this edition, Kailey and guest host Bloomberg Washington correspondent Tyler Kendall speak with:

• Wendy Benjaminson, Bloomberg Senior Editor & Ava-Benny Morrison, Bloomberg News legal reporter
• Congressman Bill Huizenga, Republican representing Michigan's 4th District
• Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Christina Greer, Associate Chair, Department of Political Science at Fordham
• Natasha Sarin, Professor at Yale Budget Lab, former Deputy Assistant Secretary for Economic Policy & former Counselor to Treasury Secretary Janet Yellen at the United States Treasury Department

See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.
On this edition, Kailey and guest host Bloomberg Washington correspondent Tyler Kendall speak with:

• Rep. Mike Flood (R-NE), Republican Representing Nebraska's 1st District, Member of the House Financial Services Committee, Vice Chair of the Republican Main Street Partnership
• Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Jeanne Sheehan Zaino, Senior Democracy Fellow with the Center for the Study of the Presidency & Congress and Bloomberg Politics Contributor

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump denied he is seeking to remove Federal Reserve Chair Jerome Powell, after raising the idea in a closed-door meeting with congressional Republicans that leaked to the media. 

“No, we’re not planning on doing anything,” Trump told reporters on Wednesday. He later added, “I don’t rule out anything, but I think it’s highly unlikely, unless he has to leave for fraud.”

A White House official, speaking on the condition of anonymity earlier Wednesday, said they expected Trump to soon move against the Fed chief after his meeting with members of Congress visiting the White House to discuss cryptocurrency legislation. Some lawmakers also left that Tuesday evening meeting with that impression, and Trump acknowledged that he had polled the participants about dismissing Powell.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Bloomberg's Michael Shepard is in for Joe. Kailey and Mike speak with:

• Bloomberg Capitol Influence Team Lead Megan Scully.
• Republican Congressman Jason Smith of Missouri, Chairman of the House Ways and Means Committee.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Bloomberg Chief Political Correspondent Annmarie Hordern.
• Bloomberg International Economics and Policy Correspondent Michael McKee.
• Bloomberg Contributor and former Republican Congressman Patrick McHenry.

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President Donald Trump is likely to fire Federal Reserve Chair Jerome Powell soon, a White House official said, and discussed the possible move in a meeting with congressional Republicans on Tuesday night.   

While the lawmakers voiced support for the move, which would likely roil financial markets and lead to a consequential legal showdown, Trump has not made a final decision and could change his mind, according to the official who requested anonymity to discuss a private conversation.   

In response to multiple similar reports, President Trump says his administration is “very concerned”, but “not planning on doing anything” about Fed Chair Jerome Powell.   

Paul Sweeney and Lisa Mateo speak with Bloomberg's Chris Condon about the potential fallout.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Nvidia Corp. and Advanced Micro Devices Inc. plan to resume sales of some AI chips in China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions.

US government officials told Nvidia they would green-light export licenses for its H20 artificial intelligence accelerator, the company said in a blog post on Monday — a move that may add billions to Nvidia’s revenue this year, restoring its ability to fulfill orders it had written off as lost due to government restrictions. Nvidia designed the less-advanced H20 chip to comply with earlier China trade curbs from Washington, which Trump’s team tightened in April to block H20 sales to the Asian country without a US permit.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Bloomberg Senior Editor for Technology and Strategic Industries Michael Shepard.
• Ashton Analytics Founder and Former China Analyst at the Department of Defense Anna Ashton.
• Bloomberg Politics Contributor Jeanne Sheehan Zaino and Bluestack Strategies Founder Maura Gillespie.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

US President Donald Trump threatened to impose stiff financial penalties on Russia if it does not end hostilities with Ukraine even as he pledged fresh weapons supplies for Kyiv.

“We’re going to be doing very severe tariffs if we don’t have a deal in 50 days, tariffs at about 100%,” Trump said Monday during a meeting with NATO Secretary General Mark Rutte at the White House.

Trump said the levies would come in the form of “secondary tariffs,” without providing details. The US president has used the term in the past to describe duties imposed on countries for trading with American adversaries.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Washington Deputy Bureau Chief Laura Davison.
• Center for Strategic and International Studies Director the Europe, Russia, and Eurasia Program Max Bergman.
• Foundation for Defense of Democracies Senior Fellow Retired Rear Admiral Mark Montgomery.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump in Texas on Friday viewed firsthand the devastation left by extreme flooding that killed at least 120 people and left scores still missing in the state’s Hill Country region, seeking to reassure residents of the federal response to the disaster.

The president met with local officials and emergency workers in hard-hit Kerr County, where he received a briefing, accompanied on his visit by first lady Melania Trump and Texas Governor Greg Abbott. Trump surveyed the damage in a helicopter flight and then was shown what appeared to be a map of the flood-damaged area.

The scale of the destruction was evident — with Trump and the first lady standing in front of an overturned tractor trailer and amid downed trees, a testament to the force of the deadly, ravaging floodwaters which tore through the community.

On this edition of Balance of Power, Joe and Kailey speak with:

• Julie Fine, Bloomberg Texas bureau chief
• Rep. Gwen Moore, Democrat Representing Wisconsin's 4th District
• Wendy Edelberg, senior fellow in economic studies at Brookings Institution, former chief economist at the Congressional Budget Office
• Jason Bailey, Bloomberg Opinion guest columnist, film critic and historian
• Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & & Jeanne Sheehan Zaino, Senior Democracy Fellow with the Center for the Study of the Presidency & Congress and Bloomberg Politics Contributor

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