Navigated to November 22, 2025: European Leaders Tell Trump Plan Needs Work, White House Prepares Tariff Fallback, More - Transcript

November 22, 2025: European Leaders Tell Trump Plan Needs Work, White House Prepares Tariff Fallback, More

Episode Transcript

Speaker 1

News when you wanted with Bloomberg News Now, I'm mid Kleggi.

European leaders and other allies told the US that its peace plan for Ukraine needed additional work in a rushed bid to try and slow walk a Trump administration determined to give concessions to Russia and imposed terms by Thanksgiving.

They issued a statement at a Group of twenty summit in South Africa that President Trump blew off, but where many of them were headed.

When the controversial details of the twenty eight point piece plan were leaked, The US had a Thursday ultimatum, yet Trump indicated in an NBC interview that this was not his final offer, hinting at some flexibility on timing.

In Johannesburg, the Panic leaders sought to buy President Vladimir Zelensky time and scrambled to get on a call, exchange notes, and come up with a counterproposal that would not alienate an impatient US.

The White House is reportedly working on Plan B ahead of a big court ruling on tariffs.

Bloomberg's Monica Rix explains.

Speaker 2

The Trump administration's working on fallback options to replace Levi's as quickly as possible if the Supreme Court strikes down one of his major TERRFF authorities.

It's unclear when we'd get a ruling, but officials are studying alternatives, including sections three ZHO one and one twenty two of the Trade Act, which grant the president the unilateral ability to impose duties.

Those replacements could also come with risks, including more legal challenges, but officials hoped to win the case outright.

In fact, Trump has repeatedly urged justices to uphold his tariffs, which he's called an economic emergency.

Monica Rix Bloomberg Radio.

Speaker 1

Israel's military on Saturday launched air strikes against Hamas militants in Gaza, in the latest test of the ceasefire that began on October tenth.

As Prime Minister Benjamin Netanyahu's office, at five senior Hamas members were killed.

Health officials in Gaza reported at least twenty four people killed at another fifty four wounded, including children.

The strikes, which Israel said were in response to gunfire and its troops, came after international momentum on Gaza, with the UN Security Council on Monday approving the US Blueprint to secure and govern the territory.

It authorizes an international Stabilization Force to provide security, approves a transitional authority to be overseen by President Trump, and envisions a possible future path to an independent Palestinian state.

The Bureau of Labor Statistics has canceled its October Consumer Price Index report.

We get that story from Bloomberg's Charlie Pellett.

Speaker 3

BLS said it was unable to retroactively obtain some data that was not collected during the government shutdown.

The bureau says it can acquire parts of the price data for the month, and where possible, will publish October values in the November release.

The November CPI report will now be published December eighteenth, after the fed's last meeting of the year.

The announcement follows the BLS's decision to cancel the October Employment report for similar data collection issues in New York.

Speaker 1

Charlie Pellett Bloomberg Radio operations at the Port of Los Angeles, the busiest US seaport, resumed Saturday after containership that caught fire Friday evening was moved to a safer distance from shore.

Vessel tracking data compiled by Bloomberg indicate the ship the one Henry Hudson was towed from the port and is anchored outside the breakwater.

When it was moored earlier, a water safety zone was established around the vessel, and operations halted at four of the port's seven container terminals.

Republicans have been waiting for direction from President Trump on how to deal with healthcare costs that are set to spike when insurance subsidies expire at the end of the year.

Now they may be starting to get it.

As we hear from Bloomberg's Nathan Hagar in Washington.

Speaker 4

President Trump says he wants a Republican alternative to the Affordable Care Act by the end of January.

Speaker 3

Let's see what we get it done by January thirtieth.

Speaker 4

In an interview with Fox News host Brian Kilmead, the President said Republicans have discussed extending the subsidies another year.

He's been calling for the funds to go directly to consumers.

Speaker 3

I believe that this good support on both sides for.

Speaker 4

That that plan could face obstacles.

Health insurance is usually purchased by groups of people, read the risk and negotiate prices.

Down in Washington, I'm Nathan Hager, Bloomberg Radio.

Speaker 1

Almost two hundred nations gathered in Brazil for the United Nations Annual Climate Summit capped two weeks of negotiations with an agreement Saturday on new efforts to help guide their transition away from the fossil fuels driving global warming.

However, the accord dodged an explicit mention of the oil, gas, and coal responsible for driving the bulk of climate change, and it did not detail plans for shifting away from them, leaving some countries unhappy with the outcome.

Online sports betting is bigger than ever and keeps growing, and one equities trading platform is looking to cash in.

Bloomberg's Tom Busby has more.

Speaker 5

Just ahead of the Thanksgiving holiday and all those critical late sees in NFL and college football games.

Robinhood Markets is expanding its prediction market offerings for sports betters, with its interface looking a lot more like a traditional sports book.

Robinhood will make it easier for its customers to trade contracts tied to sports, and by adding a sports hub, it allows users to set a price and number of orders on prop bets on live games and matches.

Tom Busby, Bloomberg Radio.

Speaker 1

That's news when you want it with Bloomberg News.

Now I made Kleggy.

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