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.

See omnystudio.com/listener for privacy information.

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

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.

Former Vice President Mike Pence criticized Donald Trump’s tariff agenda, saying it was a starkly different approach to trade from his first term that would harm American consumers and businesses.

Pence told Bloomberg Television on Thursday that the tariffs enacted during Trump’s first presidency, when Pence served as the No. 2, were geared toward forcing nations to the negotiating table to lower barriers to trade. Pence said Trump was abandoning that approach for permanent import taxes. “We used tariffs and the threat of tariffs, principally focused on China, to leverage changes in behavior, but the objective was to essentially lower trade barriers and expand trade,” Pence said.

US Secretary of State Marco Rubio is scheduled to meet his Russian counterpart Thursday as the US prepares to send more weapons to Ukraine to help it fend off attacks from the Kremlin’s war machine.
Rubio and Russian Foreign Minister Sergei Lavrov are expected to hold talks on the sidelines of an Association of Southeast Asian Nations gathering in Kuala Lumpur, the State Department said.
The meeting comes as Russia has been pounding Kyiv and other Ukrainian cities with record numbers of drones and missiles, leading President Donald Trump to express his mounting frustration with President Vladimir Putin for keeping up attacks.

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

• Jennifer Welch, Bloomberg Economics Chief Geoeconomics Analyst
• David Shimer, Biden National Security Council Director for Eastern Europe and Ukraine and Director for Russian Affairs. Senior Research Scholar at Columbia University’s School of International and Public Affairs
• Rep. Chuck Fleischmann, Republican representing Tennessee's 3rd District
• Sen. Shelley Moore Capito, Republican from West Virginia
• Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Arshi Siddiqui, Former Senior Aide to Former Speaker Pelosi, and Founder/CEO of Bellwether Government Affairs

See omnystudio.com/listener for privacy information.