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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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

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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.
US President Donald Trump unveiled a new round of tariff demand letters on Wednesday with levies set to hit in August on imported goods from partners who fail to reach agreements with the US.

Trump said he would levy a 30% rate on Algeria, Libya, Iraq and Sri Lanka, with 25% duties on products from Brunei and Moldova and a 20% rate on goods from the Philippines. The levies were largely in line with rates Trump had initially announced in April, though Iraq’s duties are down from 39% and Sri Lanka’s reduced from 44%.

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

• Brett Bruen, President and CEO of the Global Situation Room, former White House Global Engagement Director
• Josh Wingrove, Bloomberg senior White House reporter
• Lahnee Chen, Fellow in American Public Policy Studies at the Hoover Institution, Director of Domestic Policy Studies at Stanford University and Republican Strategist & Jeanne Sheehan Zaino, Senior Democracy Fellow with the Center for the Study of the Presidency & Congress and Bloomberg Politics Contributor
• Heather Boushey, former White House Council of Economic Advisers Deputy Director under President Joe Biden
• Hagar Chemali, Former-Director for Syria and Lebanon at the National Security Council (NSC)/CEO and Founder of Greenwich Media Strategies

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.

President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals.

The posturing on social media and at a Cabinet meeting on Tuesday came after traders initially shrugged off a series of letters and executive actions Trump issued Monday, pushing back the deadline for his so-called “reciprocal” tariffs while announcing the latest rates he planned for more than a dozen countries that had not succeeded in brokering quick trade agreements.

That changed Tuesday as Trump signaled a renewed determination to push ahead with his plans to heavily tax foreign imports.

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

• Tyler Kendall, Bloomberg Washington correspondent
• Rep. Brian Babin (R-TX), Chairman of the House Science, Space and Technology Committee/US Representative from Texas's 36th Congressional District (2015-Present)/Republican/Dentist/Former-US Air Force
• 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
• Mick Mulvaney, former Acting White House Chief of Staff, former OMB Director, former Republican Congressman from South Carolina

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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.

President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariffs rates on key trading partners, including levies of 25% on goods from Japan and South Korea beginning Aug. 1.

Trump also announced 25% rates on Malaysia and Kazakhstan, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy. The nations were the first in what the president promised would be a flurry of unilateral warnings and trade deals announced on Monday, two days before agreements are due from trading partners facing his April 2 so-called reciprocal levies.

“Our relationship has been, unfortunately, far from Reciprocal,” Trump wrote in the letters.

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

• Tyler Kendall, Bloomberg Washington correspondent
• Sarah Bianchi, senior managing director and chief strategist of international political affairs and public policy at Evercore ISI/Former-Deputy U.S. Trade Representative
• Julie Fine, Bloomberg Dallas bureau chief
• 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
• Natasha Hall, Non-Resident Senior Associate, Geopolitics and Foreign Policy Department at the Center for Strategic & International Studies

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

Donald Trump’s signature economic legislation stalled in the House Wednesday afternoon as the president worked to win over Republican fiscal conservatives angry over the $3.4 trillion cost of his massive tax and spending package.

Republican congressional leaders delayed a key procedural vote for hours while the hardliners met in a room just off the House floor to refine their demands and then meet with the Trump’s budget director, Russ Vought.

Vought told reporters the two sides were “making good progress” as he left the session late in the afternoon. Earlier in the day, Trump summoned the conservative holdouts to the White House to meet with them in person.

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 Greg Murphy of North Carolina.
• Bloomberg Politics Contributor Rick Davis and Obama 2012 Campaign Manager Jim Messina.
• Bloomberg Washington Correspondent Tyler Kendall.
• Democratic Congresswoman Suzan DelBene of Washington.
• Republican Congressman Jim Jordan of Ohio.

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

The US Senate handed President Donald Trump a major political victory with its Tuesday passage of a sweeping domestic policy bill, bringing him one step closer to a signature legislative achievement in an administration that has largely governed through executive power.

The Senate’s narrow approval of the $3.3 trillion package, which likely has set the stage for the bill to be signed into law later this week, extends the tax breaks that were a centerpiece of Trump’s first administration while delivering on key 2024 campaign promises such as a no-tax-on-tips measure and funding for his border wall.

That the bill survived defections from only three senators — Susan Collins of Maine, Thom Tillis of North Carolina and Rand Paul of Kentucky — hints at the tight grip Trump continues to have on his party. It also offers some validation for his tactical gambit of pursuing one mega-bill as a vehicle for his agenda, rather than of a slate of smaller ones.

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.
• Former Republican Congressman Charlie Dent.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Yale Budget Lab Economics Director Ernie Tedeschi.
• Bloomberg Tech Co-Host Ed Ludlow.
• Bloomberg New York City and State Reporter Laura Nahmias.

See omnystudio.com/listener for privacy information.