US Floats China Trade Truce; Judge Pauses Shutdown Layoffs

Bloomberg Daybreak: US Edition

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4d ago 15:40

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On today's podcast:
1) President Trump said he authorized the Central Intelligence Agency to take covert action in Venezuela, citing the flow of drugs and illegal migrants into the US. Trump stated that Venezuelan leaders had "emptied their prisons in to the United States of America" and "we have a lot of drugs coming in from Venezuela".
2) A federal judge in California froze the Trump administration's latest round of layoffs, saying the move is likely "illegal and in excess of authority." The judge issued a temporary restraining order to block terminations nationwide that were started last week and ordered the administration to provide a full accounting of all employees laid off and planned future layoffs.
3) US Treasury Secretary Scott Bessent said the possibility of extending a pause of import duties on Chinese goods for longer than three months exists if China halts its plan for strict new export controls on rare-earth elements. The US and China have agreed to a series of 90-day truces, with the next deadline looming in November, and economists describe the latest moves by both sides as attempts to stack up bargaining chips ahead of a likely leaders’ meeting.

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