Trump Deepens Tariff Battle With Threat Over EU’s Google Fine

23:53Carol Massar:So I think about your senior fellow for climate and energy. So how do you think about all of this in terms of the global climate picture going forward in a year where certainly here in the U.S. We've been dealing with smoke coming down from wildfires in Canada, you know, extreme weather again, whether it's water or heat. So I'm just curious, as you watch the global energy picture and what's going on there and what it means for global climate, how do you tie it all together? Is it worrisome? It's worrisome. And I would also say that it is a bit of a mixed story because you have seen already a number in the region who, in the response to this ongoing global energy market shock, have talked about the increased use of nuclear energy, earlier restarts or new builds.

24:40They've talked about their greater ambitions for not just the renewable energy sources that we think about, so wind and solar, but also biofuels and other alternatives as well. So I think these are all great friends, but I think they do not fully eliminate my concern about, one, the potential for rising use of coal. And in turn, even with greater progress, I think we still do have those real serious growing challenges of the reasons rising carbon emissions and the challenges that creates not just for individual communities in the region, but for global action at large. We just have 10 seconds and I want to end where we began.

25:19And that's with oil prices and just your prediction as we get into the fall. Are we going to stay around$100 a barrel? You know, I think we are still in an environment where there are so many uncertainties. We are wondering if the price point that we're at now is sustainable. OK. And it's some of the things. Yeah. I would love to know, too. Claire Gillespie, Senior Fellow for Climate and Energy at the Council on Foreign Relations, joining us from Washington, D.C. You're listening to the Bloomberg Business Week Daily Podcast. Catch us live weekday afternoons from 2 to 5 Eastern. Listen on Apple CarPlay and Android Auto with the Bloomberg Business app.

25:57Or watch us live on YouTube. We're talking about the latest when it comes to FOIA files. Jason Leopold is Bloomberg News' senior investigative reporter. He's the author of the FOIA Files newsletter. It comes out each Friday. You can read it and subscribe to it on the terminal or by going to Bloomberg.com slash newsletters. Jason also has the podcast Disclosure, and he's the executive producer and executive producer of the new documentary, The Real Wolf of Wall Street. It premiered earlier this month exclusively on Paramount+. All episodes are available for streaming right now. Do you ever sleep?

26:29Jason joins us from LA. Well, as good as Jason, we don't have any time left after that introduction because you're doing too much. So, you know, maybe make us - Yeah, it keeps me out of trouble. It does, but it doesn't make the rest of us look good, okay? That's basically why I'm working, Stay out of trouble. All right. Well, we like it when you stay out of trouble because you can kind of explain the trouble that other folks are getting into. And maybe that's a segue to talk about why it took, what, four years for you to get some files related to a Twitter account? What happened here? Yeah. I mean, this is just sort of an example of how sometimes it's ridiculous in terms of how long agencies take to produce documents.

27:08But the reason I wrote about this this week, because I felt it was still relevant. And, you know, back in 2022, the Customs and Border Protection's West Texas Twitter account kind of went off the rails and started liking politically charged tweets from Stephen Miller that was critical of the Biden administration's immigration policies. And in addition to that, it it liked, you know, tweets that were also homophobic from Pete Buttigieg, who is the secretary of transportation. I wanted some documents around that to find out how it happened. What I was really interested in was the social media guidelines.

27:51And if anyone's been, you know, watching social media over the past year and a half, I think it's pretty apparent that the way in which official government social media accounts have been communicating with the public have been, you know, quite aggressive. It's been volatile. And the social media guidelines really sets forth the ways in which, you know, government agencies are supposed to communicate with people. So that was the real get for me here, where these guidelines that were previously marked for official use only, which essentially shows that, you know, that they're not supposed to, when I say they, you know, certainly in this case, CBP, because these are CBP's guidelines.

28:35They're not supposed to be engaging with the public or posting any posts, tweets on X now, which is what it is, that would be vulgar, that would rise to the level of propaganda. So these strict guidelines, these 11 pages would appear to show that that the agency is kind of straying from what is, you know, what they're obligated to do actually under the law. in some cases as well. We've seen pictures of individuals who've been accused of various crimes. What these guidelines say is that they're not supposed to be doing that.

29:24Carol Massar:So wait, have you reached out then back to them to find out in this environment whether those rules are being followed since it's a bunch of pages on rules and regulations? Yeah, I did reach out to CBP just to find out if these 2019 guidelines are still in effect and or if there's some new ones. And basically, you know, what the spokesperson told me is that, you know, they are updated as needed. It wouldn't say one way or another whether they're still using these guidelines or if there are new ones, but just periodically, you know, they're periodically reviewed and updated. I don't even know what to say.

30:09But these are the questions. I know. These are the questions I ask. This is why. I was like, well, how did they come to tweet that or post that? And that's when I say, you got to FOIA it. Is it typical that it would take something four years to get files like this? No, it's not typical. And I don't have an explanation for it. But you have no idea why some why you get some within a few months and some within a few years. You have no idea.

30:36Carol Massar:This seems like an easy request. No offense. Right. Very easy request. Yeah. Very easy. No explanation behind that. So Jason, I've asked you before about this and I want you to sort of go into it a little bit. How do you know that what you're getting is actually exhaustive? It's a great question. So it's based on my request. So if, you know, if I ask for a wide range of documents and the agency only turns over a few, you know, pages of records that I question the integrity of the search. So I'm carefully looking at what they produced in response to what I specifically requested. And, you know, there are many instances.

31:18I did it yesterday where I appealed the integrity of an agency search because I didn't think it was exhaustive enough.

31:26Carol Massar:Well, speaking of keeping an eye on the government. Oh, OK, we are keeping an eye on because President Trump is making some comments from the White House. We do have some headlines. Hang on a second. um sure uh jason as we just kind of go through president trump uh on the saudi nuclear deal the time for them to do the abraham accords um that is certainly an agreement when it comes to uh nuclear weapons and nuclear capabilities and that is something that we've talked about here with our team that's unlikely that saudi arabia would sign on to the president says at some point they will we will see yeah yeah uh he also said on iran problem disappearing no great power anymore um i would think it's safely safe to say that if you talk to iran um they would probably disagree well the i guess the you know it goes to differ what he what he said at um over the past few months about that that whole country country's military being decimated being destroyed parts the Navy being destroyed, we are still fighting over the last two weeks.

32:31Back and forth on both sides. With Iran.

32:33Carol Massar:So, yeah. All right. We're going to monitor, though, folks, and certainly bring you any headlines, as they are known, and certainly relevant to the Bloomberg audience and an investing audience. But we want to stay with Jason Leopold, senior investigative reporter at Bloomberg News. Hey, Jason, before our time wraps up, we do want to get to your attention. You've been so great in kind of keeping us up to date on all things Epstein. And the news flow has definitely slowed down, but we know that there are still documents that we don't have and people don't have and there's still stuff being gone through.

33:02Carol Massar:There's a really interesting and fun, fun, wrong word, tracking flights in terms of Jeffrey Epstein's operations. Thousands of flights booked by the financier's staff connected associates and victims to a global network of properties. finding all of this stuff out and tracking, it's important, right? Oh, it's hugely important. This is an example, this story today by our colleagues. I mean, it's great investigative work. And what they did is they took the data and documents that the Justice Department released earlier this year and carefully read through everything, read through various spreadsheets and connected the dots.

33:48And, you know, what it ultimately, you know, shows is, you know, the vast network of flights over, you know, a period of around maybe 10 or 11 years, if I'm not mistaken. Yeah. And how that may have been, you know, ultimately part of this sex trafficking network that he was running. we um we also have a story about the french modeling scout with ties to jeffrey epstein who was found dead in paris um stories like this jason get people's attention because well for a few reasons but what what have you and the team found here well you know daniel siad um who was uh this uh this french modeling scout and what we know from the documents i mean he's in many of these documents and that, you know, he was paid.

34:41He was paid thousands of dollars. There were discussions between Epstein and Jean-Luc Brunel, who ran this modeling agency, MC2, where they discussed women, girls, that Daniel Sead was tasked with finding women for, don't know if it's for the agency or specifically for Epstein. But his name resurfaced earlier this year. And he went on to posted a video essentially saying he had no idea that that he was this is what he was involved with. But he was the subject of an investigation that was reopened in France related to Epstein's Epstein's crimes. And currently they're they're investigating the, you know, the cause and manner of the death.

35:33Carol Massar:Right. All prompted by the Justice Department's release of that large trove of Epstein files. It raises a lot of eyebrows, though. Yeah, it absolutely does. And has us talking about it again, as we try to piece everything together, as you always help us do. Listen, Jason, thank you. Thank you so much. Really appreciate it. Have a good weekend. Jason Leopold, he's senior investigative reporter at Bloomberg News. He is, of course, author of two of the Foyah Files newsletter. You can get it on the Bloomberg, Bloomberg.com slash newsletters. He also hosts the podcast Disclosure. And we mentioned The Real Wolf of Wall Street, the documentary.

36:11On Paramount+.

36:12Carol Massar:Stay with us. More from Bloomberg Businessweek Daily coming up after this.

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36:51And now, another appliance triumph from our friends at Grand Appliance. With three kids, I'm always cramming the washer full. So when we needed a new laundry set, I asked the experts at Grand Appliance for a big capacity washer with a dryer that could keep up. They recommended Electrolux, and we love it. Advanced cleaning features with a massive dryer that gets everything dried the first time? Yes, please! Sounds like another perfect match from the Grand team. Shop GrandAppliance.com Hey everyone, it's Cal Penn. I'm the host of Earsay, the Audible and iHeart Audiobook Club. This week on the podcast, I am sitting down with Ray Porter, the narrator of Andy Weir's audiobook Project Hail Mary, massive sci-fi adventure about survival and science, and what happens when you wake up alone very far from Earth.

37:45I really had to make a decision because I caught myself getting that frog in my throat and starting to get teary as I'm narrating some of these sections. and it's like, okay, yo, yo, yo, is this indulgent? And I really thought about it. I was like, no, at this point, it would kind of be betraying the trust the author and the listener have in telling this story if I don't go through it. But there's places in this book that deeply emotionally affected me and I left it on the mic. That's great. Because it served the story. People will say like, oh my God, I cried at the end. It's like, yeah, dude, me too.

38:17Listen to Earsay, the Audible and iHeart Audiobook Club on the iHeartRadio app or wherever you get your podcasts. You're listening to the Bloomberg Business Week Daily Podcast. Catch us live weekday afternoons from 2 to 5 p.m. Eastern. Listen on Apple CarPlay and Android Auto with the Bloomberg Business app. Or watch us live on YouTube.

38:40Carol Massar:Family-run British Wine and Spirits merchant. So talk about having some history and being around for a long time. They have seen, to say the least, a lot of wine. A lot of beverages, probably. We're talking about Berry Brothers and Rudd. Claudia Chamberlain joins us now, advanced sommelier and U.S. general manager at Berry Brothers and Rudd. She joins us from Washington, D.C. Claudia, welcome, welcome. Before we get to the wine, give us a little history of this establishment that goes back centuries. Yes, absolutely. And thank you all so much for having me on this fine Friday afternoon. So we are a heritage British fine wine and spirits merchant.

39:17As you said, we've been around since 1698, but we just opened our doors in the U.S. this past November. So we have a physical store that's at Farragut Square in Washington, D.C., and then an online service. And then we specialize in something that we call private client advisory services.

39:33Carol Massar:Well, a couple of questions. Why the U.S.? Why now? Yeah, so I think that's a great question. The U.S. has been for the longest time one of the biggest consumers in the world. And that data just continues to point us in the direction of a lot of Americans are really interested in fine wine. And so Berry Brothers, having been around since the end of the 1600s, they have quite a big database of clientele around the world. And so they've had a number of American clients for a long time. And we decided to make it a bit easier to access the services by opening up our doors in the U.S. So for people listening right now who may not consider fine wine and alternative asset class yet at this point in their financial journey, the folks who you advise when it comes to the private client service that you offer, what do you advise them on?

40:24What do you tell them about? What do you educate them on? Yeah, I think, you know, it's a number of different things because it's really a one-on-one conversation around whatever it is that they're interested in. So it could be that they are new on their fine wine drinking journey. It could be that they're an established collector. So maybe they want to talk through different types of white wines that they're interested in. Maybe they have questions about different vintages, questions about how long to lay a wine down for, questions about how to serve a wine, how to pair a wine, all of those types of things.

40:56So it's really about meeting the client where they're at and giving them advice on how to drink better and also have a lot of fun while doing it.

41:04Carol Massar:So is it all about drinking better and being smart and understanding? Is it also about wine collecting? We've done so much reporting here at Bloomberg. And, you know, I'm just reading from a story that we've done over the last year. Passionate collectors buy wines they love and plan to drink, yes. But to invest, you have to select the right ones at the right price at the right time. If you have access to buy in the first place and have them maintain their value. How many people are looking to buy, put them on a shelf, in a cellar, let them sit for a while and rise in value? to either drink later or to maybe even sell?

41:37Yeah, I think it's, again, it's a mix. So our clientele is from all walks of life, truly. And so there are people that are looking for something that they're going to be drinking this weekend that they're sharing with friends. And then there are people who are looking to grab a case of their daughter's birth year wines to hang on to for a while. So we see all different kinds of things. I would say that in general, the American consumer is very focused on the act of consumption. And the act of how to drink something in its perfect drinking window and how to find the thing that they can open more in the immediate versus hanging on to it for a long amount of time.

42:11Carol wants to start drinking soon, but I have some more questions.

42:13Carol Massar:No, but keep going. No, but I mean, I am learning as I go and have been still. How do you figure out when's the perfect time to drink it or what you need to do or what you should be looking for? I mean, this is what you do. Yeah, exactly. It is up to personal preference. So if you prefer something that is really vivacious and fresh and sort of bright and acidic, then you're probably going to lean more on the younger vintages of things, or maybe the cooler vintages from the different growing regions around the world. Versus if you love something that is a little bit more broken in like fine leather, right?

42:48Then maybe you're going to opt for something that's a bit more mature. So it totally depends. It also depends on what you're eating, how you're feeling, what the temperature is outside. So the type of thing is we have a range that can apply to any of those situations. And I would argue there's a case for all of those types of things. It really comes down to how you like your wine and how you want to be enjoying it in that moment. Claudia, I know there's a lot of spending power in the Washington, D.C. area, but there's also a lot of spending power in New York, L.A., San Francisco, Miami. Why Washington, D.C.

43:20is your first U.S. location? That's a great question. So I think, you know, as a heritage British merchant, it made a lot of sense for us to settle down our first flagship store in the nation's capital for our first foray into the U.S. But also, you know, D.C., as you've just mentioned, there are some of the wealthiest counties in the U.S. that are right here in our backyard. It's a super transient city, so people are always coming and going. It has a very high sort of engagement wine scene. And so there's a really incredible network of fine dining and wine bars and different sommelier sort of centric groups.

43:57And so it felt like a natural place for us to springboard from. There's also direct flights to most of the U.S. And with our online business and our different offerings, we do cater to clients in 46 different states as well.

44:10Carol Massar:All right. So you were kind enough to share some wine with us so that we can kind of work our way through. Should we start with the white or the red? I think let's start with the white. Okay. So tell us what you sent to us. I'm not going to go and pronounce it because I'm always bad with this. Didn't you take French? No. I took muchos años de Espanol. So go ahead. Very good. Tell us about this white that you shared with us and I'm going to actually open it up and, uh, Oh, let's hear it. Absolutely. I'm honestly so jealous. We should have had some here in the office for this too. So you were drinking the 2023 Domaine de Castillo-Pay-les So it is a Chardonnay coming from Burgundy.

44:51And we chose this one to show to you because it really heralds, while we specialize in the iconic wines of the world and the really well-known producers, we also prize ourselves in being able to take our customers on a journey and being able to open their eyes to the new wave of what's going to be collectible and what's really cool. And so this is one of those producers that is really allocated. It's a new grower in Burgundy. they've trained under some of the very best and the wine itself is very vibrant. And I think savory in a really nice way that has to be a perfect pairing for your Friday afternoon.

45:25Carol Massar:That's nice. I'm not a, that's actually really nice and kind of soft. I'm not a huge white wine drinker. The audience probably knows, but, but this is nice. And it's so funny. Like I do this and I'm like, why don't I drink white wine? Cause it's really, really lovely. Do more people, do you find are drinking more white wine in the summer because of the heat? Because I kind of drink red wine no matter what. But I'm just wondering, do you really see that uptick when it's warmer out there, especially with some of the heat waves that we've been having globally? You certainly do. I would say champagne in particular is very in vogue at the moment, just given how warm it's been in the summer in the East Coast in particular.

46:04We've seen a huge spike in champagne sales. White burgundy, which is the gloss of what you're having, is absolutely incredible at this time of year. Sancerre continues to be something people really reach for as it gets warmer and also rosé. So we do see an uptick in white wine sales, but I think in general, we specialize in mostly French and Italian wines. And so we still have a very healthy base of sales of red wines during this time as well. So with the red wine category, you can put some of the lighter ones. Some people will sometimes put a little bit of a chill on it. So leave it in the fridge for 20 to 30 minutes before you serve it.

46:40And that's the way to sort of get the best of both worlds. If you're more of a red wine drinker. Well, let's go to the red. Please. Yeah. You sent us a Chateau Langois Barton Saint-Julien.

46:50Carol Massar:Oh, stop. Excellent. No, that wasn't very good. Thank you. I actually got basically was told by my French teacher to take another language. In all seriousness. All right. So let's open up. Well, you're doing great. Thank you. Yeah. It sounds like you speak wine just fine. so yes this is the 2009 which is an exceptional vintage coming from bordeaux and so we chose this one to show you all because it highlights our provenance and so when we say provenance it means that because we are the oldest wine and spirits merchant from the uk we have relationships that span decades and so with those relationships you get incredible access to the top producers of the world to special library offerings to large formats to more bespoke offerings that don't necessarily reach a wider audience.

47:35And so we felt that the 2009 Chateau Langoix-Barton was really exemplary for that reason. So this is a family that's been around since 1821. And so they're one of the more iconic families of Bordeaux and they own a number of different properties, but this is their third growth in Saint-Julien. So this is going to be a red blend. All Bordeaux is a blend typically of Cabernet Sauvignon and Merlot. This one comes from the left bank. So you're going to look at a base of around 50 to 60 percent Cabernet Sauvignon, depending on the vintage. And then you've got some Merlot, some Cabernet Franc, and some Petit Verdot to make up the rest of it.

48:12Carol Massar:It's easy, right? It's an easy wine. And I could see it. It's, yeah, very, very nice. I love that it's of Irish descent. I don't know that we talk about that a lot, a lot of wines with kind of an Irish heritage, right? Yeah, we really don't. And honestly, it is a unique thing of the Barton family. And we were lucky enough to have Lillian Barton visit us this past January. And she no Irish accent there, but she is absolutely fabulous. So they're doing a great job in Bordeaux. We just have 30 seconds left here. We're not going to open it up because we don't want to get hurt. We don't want to get hurt.

48:46Carol Massar:It's a champagne. It's a little warm. So we want to be careful. But tell us about what you sent here as well. Champagne has had such a big comeback over the last few years. Just got about 30 seconds. Forgive me. Yep. So this is the, it's our own label. So we showed this one to you because we have a label of our own range. And so we partner with some of those producers we've had relationships with for a long time. This is a Grand Cru Champagne and it retails for$44.95, which is a really great value for a Champagne, especially of Grand Cru quality. So it shows you sort of the level of tiering that we have within the range.

49:26But also this is our number one bestseller.

49:29Carol Massar:Wow. I love that. Well, next time come in studio and we'll celebrate with you. It's been quite a week. Thank you so much. A great way for us to wrap up here. Claudia Chamberlain, she is advanced sommelier and U.S. General Manager at Berry Brothers and Rudd. This is the Bloomberg Business Week Daily Podcast. Available on Apple, Spotify, and anywhere else you get your podcasts. Listen live weekday afternoons from 2 to 5 p.m. Eastern on Bloomberg.com, the iHeartRadio app, TuneIn, and the Bloomberg Business app. You can also watch us live every weekday on YouTube and always on the Bloomberg Terminal.

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51:17Hey everyone, it's Cal Penn. I'm inviting you to join the best sounding book club you've ever heard with my podcast, Earsay, the Audible and iHeart Audiobook Club. Every episode, I nerd out with amazing guests and dive into the best new audiobooks available on Audible. It's the book club for your ears. Listen to Earsay, the Audible and iHeart Audiobook Club on the iHeartRadio app or wherever you get your podcasts.