Balance of Power

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, Joe and Kailey speak with: Bloomberg's Michael McKee and Tyler Kendall. Bloomberg Politics Contributor Rick Davis and Democratic Strategist Caitlin Legacki. Atlantic Council Nonresident Senior Fellow Rachel Rizzo. Editor of NASAWatch.com and Astrobiology.com, former-Scientist with NASA Keith Cowing.

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, Joe and Kailey speak with: Bloomberg's Ed Ludlow and Tyler Kendall. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg's Nancy Cook. Immigration Attorney and Chair of the Immigration Practice Group at UB Greensfelder David Leopold.

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, Joe and Kailey speak with: Bloomberg's Tyler Kendall. Vice President of Federal Tax Policy at the Tax Foundation Erica York. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Chief Investment Officer for US Bank Asset Management Eric Freedman.

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 speaks with: Bloomberg's Tyler Kendall. Bloomberg's Ed Ludlow. Franklin Templeton Investments Global Equity Portfolio Manager Katrina Dudley. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone. Beacon Global Strategies Managing Director Michael Allen.

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, Bloomberg's David Gura is in for Joe. Kailey and David speak with: Bloomberg's Jordan Fabian. Arbroath Group Managing Partner Christopher Smart. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Chief Economist for SMBC Nikko Securities America Joe Lavorgna. Nonresident Senior Fellow with the Atlantic Council Global Energy Center Ellen Wald.

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, Bloomberg's David Gura is in for Joe. Kailey and David speak with: Bloomberg's Shawn Donnan. Pangaea Policy Founder Shawn Donnan.

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, Joe and Kailey speak with: Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg's Scarlet Fu. Bloomberg's Joe Weisenthal.

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, Joe and Kailey speak with: Bloomberg Economics Chief Economist Tom Orlik. Republican Congressman Pat Fallon of Texas. Bloomberg Politics Contributor Rick Davis and ROKK Solutions Partner Kristen Hawn. Wiley Rein Partner Greta Peisch.

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, Joe and Kailey speak with: Bloomberg News Correspondent Tyler Kendall. Bloomberg Equities Reporter Ryan Vlastelica. Republican Congressman Frank Lucas of Oklahoma. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Professor of Public Policy and Economics at the University of Michigan and Former Member of the White House Council of Economic Advisers Betsey Stevenson.

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, Joe and Kailey speak with: Chair of the White House Council of Economic Advisers Stephen Miran. Bloomberg's Romaine Bostick. Republican Congressman French Hill of Arkansas, Chair of the House Financial Services Committee. Democratic Congressman Glenn Ivey of Maryland and IonQ CEO Niccolo De Masi.

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, Joe and Kailey speak with: Bloomberg International Economics and Policy Correspondent Michael McKee. Port City Brewing Company Founder Bill Butcher. Former Republican Senator Pat Toomey of Pennsylvania. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Founder of Ashton Analytics and Specialist in US-China Trade and Economics Anna Ashton.

This is a special edition of the Bloomberg Daybreak: US Edition podcast. Subscribe to the show: on Apple: http://bit.ly/3DWYoAN on Spotify: http://bit.ly/3jGRYiB Anywhere: http://bit.ly/3J1bct9 On today's episode: President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam.“For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” Trump said during an event in the White House Rose Garden to unveil the so-called reciprocal tariffs. “Now it’s our turn to prosper.”The move marks a dramatic escalation in Trump’s trade war, one that risks triggering retaliation from other countries and upends calculations for businesses and consumers at home. China and the EU, America’s largest trading partner, both said they were preparing to take countermeasures in response.The US president has embraced tariffs as a tool to assert US power, revive manufacturing at home and exact geopolitical concessions — counter to the decades-old consensus that lower trade barriers help to foster ties among nations and prevent conflicts. Economists say the near-term result of his measures will likely be higher US prices and slower growth — or perhaps even a recession.Global financial markets were hit by a sweeping selloff after Trump’s announcement, with US equity futures slumping as much as 4%.Gold hit an all-time high and the traditional haven Japanese yen soared, while China maintained its daily support of the yuan. Ten-year Treasury yields fell toward the closely-watched 4% level, their lowest since October.Read More: Fear Grips Markets as Trump Tariffs Raise Risks to Global GrowthLess than three months after returning to the White House, Trump has already erected trade barriers that are bigger by some measures than those imposed in the notoriously protectionist 1930s. Bloomberg Economics calculates that the effective tax rate the US now charges on more than $3 trillion of imported goods may climb to around 23% — higher than any point in more than a century.A statement published Wednesday by the United States Trade Representative explained the Trump administration calculated its raft of new tariffs primarily based on existing trade balances. Countries running a trade surplus with the US faced a flat 10% rate regardless, as did nations where trade was roughly even.There’s a small difference in the tariff rates first announced by Trump and more than a dozen of those listed in the annex that accompanied the White House executive order. For countries like South Korea, Myanmar, Pakistan and India, the rates in the annex are about 1 percentage point higher than the initial announcement.The 10% baseline charge on everyone takes effect after midnight Saturday. The higher duties on targeted countries — which replace, rather than add on top of the 10% rate — are due to kick in on April 9, the White House said.Read More: List of Reciprocal Tariffs by CountryFor now, the new measures don’t include Canada and Mexico, which are embroiled in a separate on-and-off tariff dispute with the US. They also won’t apply to some products that are subject to separate duties tied to so-called Sec. 232 investigations such as autos, semiconductors and lumber.The reciprocal tariffs were “much worse than we feared,” said Mary Lovely, a senior fellow at the Peterson Institute for International Economics. There’ll be “huge implications for rerouting of trade,” she said.The president, who’s sought...

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, Joe and Kailey speak with: Host of Bloomberg Law on Bloomberg Radio June Grasso. Marquette University Professor of Political Science Julia Azari. Bloomberg Politics Contributor Jeanne Sheehan Zaino and Republican Strategist Maura Gillespie. Bloomberg Senior Editor for Technology and Strategic Industries Michael Shepard.

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, Joe and Kailey speak with: Bloomberg Politics Editor Laura Davison ahead of President Donald Trump's tariff announcement Wednesday. Managing Director of Policy and Advocacy at the Groundwork Collaborative Liz Pancotti about the possible economic impact of tariffs. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino about elections in Wisconsin and Florida Tuesday. Constitutional lawyer Robert McWhirter as House Judiciary Chair Jim Jordan calls on appropriators to add language in legislation funding the federal judiciary limiting nationwide injunctions issued by district court judges.

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, Joe and Kailey speak with: Bloomberg Senior National Political Correspondent Nancy Cook to preview the week ahead for the Trump Administration. Founder and Managing Partner of International Capital Strategies Doug Rediker about the uncertainty as the world awaits US tariff implementation. Bloomberg Politics Contributor Rick Davis and former Democratic Congresswoman Stephanie Murphy as White House Press Secretary Karoline Leavitt confirms an April 2 Rose Garden tariff announcement by President Donald Trump. Bloomberg Senior Editor Michael Regan as markets react to the latest tariff news. Vice President of Federal Tax Policy at the Tax Foundation Erica York about tax and budget negotiations on Capitol Hill.

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, Joe and Kailey speak with: Stuart Paul and Anna Wong of Bloomberg Economics about the latest US inflation data. Former Chief Economist at the National Economic Council Joe Lavorgna ahead of the April 2nd tariff deadline from the Trump Administration. Nonresident Senior Fellow at the Atlantic Council's Europe Center Rachel Rizzo as Vice President JD Vance visits Greenland.

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, Joe and Kailey speak with: Bloomberg Detroit Bureau Chief David Welch about the Trump Administration's planned tariffs on auto imports. Former Chair of the White House Council of Economic Advisers Jared Bernstein about the impact of tariffs on the US economy. Bloomberg Politics Contributor Jeanne Sheehan Zaino and Republican Strategist Chapin Fay about the immigration policies of the Trump Administration. Bloomberg News SEC and CFTC Reporter Lydia Beyoud as Trump's SEC pick undergoes his confirmation hearing on Capitol Hill. Former Republican Congressman and Former Air Force Intelligence Officer Denver Riggleman about the continued fallout from the Signal group chat.

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, Joe and Kailey speak with: Bloomberg Politics Editor Laura Davison about the latest developments from the Trump Administration. American Action Forum President and former Congressional Budget Office Director Douglas Holtz-Eakin as the CBO announces that the federal government could run out of enough money to pay all of its bills on time as soon as August if lawmakers fail to raise or suspend the debt limit. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino about the latest tariffs announcement from Trump. Ritholtz Wealth Management Founder Barry Ritholtz about his new book "How Not To Invest." Bloomberg Pentagon Reporter Tony Capaccio as The Atlantic released the transcript of a group chat between top US officials on Signal.

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, Joe and Kailey speak with: Bloomberg Capitol Influence Team Lead Megan Scully. Republican Congressman Marlin Stutzman of Indiana. Bloomberg Politics Contributor Rick Davis and Democratic Strategist Roger Fisk. Professor at the University of Virginia's Miller Center and former US Diplomat Mara Rudman.

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, Joe and Kailey speak with: Republican Congressman Bill Huizenga of Michigan as lawmakers return to Washington to kickoff reconciliation negotiations. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino as President Donald Trump holds a cabinet meeting Monday at the White House. Bloomberg's Saleha Mohsin interviews Chair of the White House Council of Economic Advisers Stephen Miran about the Trump economic agenda.