National Guard Soldier Dead After DC Ambush; Trump Calls for 'Reverse Migration'

0:00Hello, I'm Stephen Carroll. I'm in Brussels where many of Europe's biggest decisions get made. And I'm Caroline Hepker in London with the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday keeping an eye on what's happening across Europe and around the world. We do it early so the news is fresh, not recycled and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break.

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1:02Bloomberg Audio Studios, podcasts, radio, news. Good morning, I'm Nathan Hager. And I'm Lisa Mateo. Here are the top stories we're following today. Lisa, we begin, though, with the latest on the attack on the two National Guard members in Washington, D.C. One of the West Virginia Guard members who was shot near the White House has died. President Trump announced it during his Thanksgiving phone call to service members. Sarah Beckstrom of West Virginia, one of the guardsmen that we're talking about, highly respected, young, magnificent person, started service in June of 2023, outstanding in every way.

1:45She's just passed away. And President Trump says the other wounded guard member, Air Force Staff Sergeant Andrew Wolf, is still in critical condition fighting for his life. The suspect in their shooting has been identified as 29-year-old Rahmanullah Lachanwal. He's an Afghan national who had worked with U.S. forces and the CIA before arriving in the U.S. in 2021. West Virginia Governor Patrick Morrissey says his state has the guards back. This is unspeakable violence. An Afghani came in and did outrageous things. We need to have a comprehensive investigation and ultimately that investigation needs to lead to justice.

2:23West Virginia Governor Patrick Morrissey He spoke in a Thanksgiving address to his state. Attorney General Pam Boddy has said she would seek the death penalty if either of the victims died. And now following the shooting, Nathan, President Trump is calling for reverse migration in the U.S. as he outlined a series of potential measures to crack down on immigration. They include halting admissions from unspecified developing nations, also revoking citizenship from some naturalized migrants. In a pair of truth social posts late last night, The president said he would permanently pause migration from all third world countries and denaturalize migrants who undermine domestic tranquility.

3:01He added that he would terminate millions of admissions under his predecessor, Joe Biden, and remove anyone who is not a net asset to the United States or is incapable of loving our country. President Trump also said he would end all federal benefits for noncitizens. And during that phone call with service members, Lisa, President Trump said his administration may cut income taxes sharply for Americans. Over the next couple of years, I think we'll substantially be cutting and maybe cutting out completely, but we'll be cutting income tax because of tariffs. And we're taking in hundreds of billions of dollars like we've never done before.

3:38And some of that's going to go back in the form of a sort of dividend to our people. President Trump suggested revenue coming from tariffs would make up for the loss. Well, at least 128 people are now known to have died in that devastating Hong Kong fire. It's still unclear how many residents remain unaccounted for after the blaze tore through a cluster of eight residential towers, although it's still too early to tell what caused the deadly fire. But there is now intense scrutiny of the financial center's enforcement of safety standards and use of construction materials after inspections had flagged risks well before the disaster.

4:14Derek Armstrong Chan, the deputy director of fire services for operations, says his crews are now going from apartment to charred apartment checking for more bodies. Our firefighting operation is almost complete. Despite that, we are still carrying out firefighting operation to four individual units and damping down to various units of the seven blocks are still in progress. so as to prevent the debris and embers from flaring up. Hong Kong's Deputy Director of Fire Services, Derek Armstrong Chan. Now, police have arrested several senior figures from an engineering company on suspicion of manslaughter.

4:58Relisa, Russia's President Vladimir Putin says he is open to talks about a peace plan with Ukraine, though he says no final version exists yet. We can see that American side bears in mind, in some way, our position, which was discussed, encouraged after Alaska. We have to sit down and discuss certain concrete issues. We have to translate it into diplomatic language. That was Russian President Vladimir Putin speaking through an interpreter. and the Kremlin has confirmed that White House Special Envoy Steve Witkoff will visit Moscow next week and meet with Putin. Ukrainian anti-corruption authorities searched the apartment of Andrei Yermak, the influential top aide to President Vladimir Zelensky, as the country is reeling from a major graft scandal and coming under pressure in the U.S.-led peace talks.

5:52The National Anti-Corruption Bureau and the Specialized Anti-Corruption Prosecutor's Office carried out those searches early this morning. Your Mac confirmed that investigators were conducting procedural actions at his home and said he was cooperating fully. All right, let's turn back to these markets now, Lisa. Trading of futures and options on the Chicago Mercantile Exchange is halted. It is a technical issue at the CME's data centers. A spokesperson for CME Group says a cooling issue at Cyrus One data centers caused the halt. It's affected contracts, including those for U.S. crude oil, gasoline and palm oil.

6:28Nicholas Lua covers oil for Bloomberg News. It's a dark black Friday for the U.S. and traders who are hoping for a quiet session, indeed got more than what they bargained for. It's very clear that this is an unprecedented outage. Bloomberg's Nicholas Lua adds the contracts for treasuries and Wall Street futures are affected as well, along with other platforms. CME says it is working to resolve the issue in the near term and will advise clients of pre-open details as soon as they're available. Well, gold is on track for a fourth monthly gained on heightened expectations for another interest rate cut in the U.S.

7:03Silver advanced to within a dollar of record. Gold is up nearly 5 % for the week. A series of comments by Federal Reserve officials and the release of delayed economic data have supported the case for lower borrowing costs, which typically benefit gold as it doesn't pay interest. Swap traders are pricing in a more than 80 % chance of a quarter point cut in December. And north of the border, Lisa, Canadian Prime Minister Mark Carney has unveiled a sweeping energy plan with the province of Alberta. It includes a new oil pipeline, a massive carbon capture project, and the construction of nuclear power for data centers.

7:35The plan aims to reduce Canada's economic dependence on the U.S. and unlock Alberta's energy resources while creating new high-paying careers for Canadians. It really sets the stage for an industrial transformation. at the core of the agreement, of course, is a priority to have a pipeline to Asia. That's going to make Canada stronger, more independent, more resilient, more sustainable. Canada's Prime Minister, Mark Carney, adds the country's tight interdependence with the U.S., which was once a strength, is now a weakness. Canada shipped more than 95 percent of its energy exports to the U.S. last year, but that was before President Trump began slapping tariffs on Canadian goods.

8:21Time now for a look at some of the other stories making news in New York and around the world. For that, we're joined by Bloomberg's Michael Barr. Good morning, Michael. Good morning, Lisa. Black Friday and Cyber Monday sales may be more important than ever as the holiday shopping season officially kicks off. Shoppers may not spend as much. We have to take a cut in when it comes to the luxury things, but the necessities definitely come first. Inflation, the government shutdown, and questions about jobs numbers, all contributing to the lowest consumer confidence numbers since April. However, in Glendale, California, Alex Cover with the Glendale Galleria says they open at 9 a.m.

9:00local time, but he expects to see people earlier. We're going to have customers who are ready to be here at 8 a.m., 9 a.m. the second the doors open, and traffic is going to continue to flow, and it's all going to go great. A recent survey found shoppers will spend about 4 % less this Black Friday and Cyber Monday than last year, about$622. Pope Leo is encouraging Turkey to be a source of stability and dialogue in a world driven by conflict. The American pope emphasized a message of peace as he arrived yesterday in Ankara on his first foreign trip as pontiff. In a society like the one here in Turkey, where religion plays a visible role, it is essential to honor the dignity and freedom of all God's children, both men and women, fellow nationals and foreigners, poor and rich.

9:54After meeting with Turkish President Recep Tayyip Erdogan, Leo praised Turkey's historic role as a bridge between east and west. A powerful 6.0 magnitude earthquake hit south central Alaska Thanksgiving morning. It woke people up about 30 miles from Anchorage. Shannon McCarthy of the Alaska Department of Transit says damage assessment continues. The highways are an area that we do need to take a look at, see if we have any cracks, see if we have any failures. Shannon McCarthy of the Alaska Department of Transit says in terms of the state's infrastructure, it's built to take a 6.0 quake. So far, no known major damage or injuries.

10:33Global News 24 hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr. This is Bloomberg. Lisa. Thank you, Michael. Time now for our Bloomberg Sports Update. And for that, we bring in Dan Schwartzman. The Packers beat the Lions 31-24 in game one of the Thanksgiving tripleheader as Jordan Love threw for four touchdown passes. Green Bay improving to 8-3-1, while Detroit drops to 7-5. The Chiefs are in danger of missing the playoffs for the first time since 2014 and for the first time in the Patrick Mahomes era after losing to the Cowboys in Dallas 31-28 to fall to 6-6 on the season.

11:06Cowboys have now won three in a row and improved to 6-5-1. Bengals dominate the Ravens in Baltimore 32-14, snapping Baltimore's five-game winning streak as Joe Burrow threw two touchdowns in his first action since week two after going out with a toe injury. The Golden State Warriors will be without Steph Curry for around a week after an MRI confirmed a quad contusion and muscle strain. That's your Bloomberg Sports Update. Stay with us. More from Bloomberg Daybreak coming up after this. As markets move and headlines break, what matters most is context. A Bloomberg subscription gives you unmatched reporting, sharp analysis, and powerful tools that help you connect the dots.

11:47Visit Bloomberg.com slash podcast offer to learn more.

12:17Washington, D.C. breaking news editor Alexander Pearson. Alex, good morning. Can you update us on this attack, what we know so far about the suspect? Good morning, Nathan. So we know that the suspect is a 29-year-old Afghan national who entered the United States in 2021 after U.S. forces withdrew from the country. We also know that prior to that, the suspect had been working with U.S. forces, including the CIA. Now, he's been living in Washington State recently and is supposed to have driven actually from Washington State to Washington, D.C., so across the entire country, to commit this act of violence against two National Guard members.

13:00The other update in this incident is, unfortunately, that one of those National Guard members who was shot died overnight. President Trump announced that. And meanwhile, the other National Guard member is still in a critical condition. The FBI director, Kash Patel, says it's now a terrorism investigation, although they have not yet said what they believe the motive to have been in this case. But what we do know, besides the fact that this has become a terrorism investigation, is that President Trump really seems to be seizing on this to sort of further his immigration crackdown agenda even more, Alex.

13:37Absolutely. So President Trump already announced that there would be consequences for Afghan nationals in particular as a result of this yesterday. And then very late last night, he then took to Truth Social to publish a post in which he said he would permanently pause, as he put it, migration from third world countries, which is also the term he used, without actually specifying which countries that meant. Alongside that, he also said he would seek the deportation of foreigners who were, as he said, not a net asset to the United States, cut federal benefits for foreigners living in the U.S., and also strip permanent residency and even actually U.S.

14:22citizenship from naturalized citizens who were deemed to not align with the administration's agenda. He did not really give anything more in terms of specifics, so we're still waiting for him to follow up on that or for any other White House official to follow up on that. But it certainly seems like a major escalation in terms of his immigration crackdown agenda. And some of that escalation we're hearing as well, Alex, is some pretty heavy criticism of the previous administration when it comes to how it handled the evacuation of parts of Afghanistan following the takeover by the Taliban. Do we know specifically whether the suspect in this case was part of that sort of chaotic withdrawal from Kabul?

15:08We do know that he came in September 2021. So it was actually after the fall. As far as I'm aware, he was not part of that particular chaotic withdrawal that we all remember. and we do know that earlier this year he actually received asylum and because he actually was working with the CIA and US forces in Afghanistan prior to the fall of Kabul, he would have been vetted quite heavily in terms of his background. So in this particular case, it's sort of questionable to say he wasn't vetted but Trump is obviously using this now to make a broader point about Afghan migration as a whole since the fall of Kabul in 2021.

15:54And of course, certainly this is coming at a time where we've seen pretty heavy enforcement of immigration with raids in major cities, many of them led by Democrats as well. I mean, how much further could this go, given what we've heard from the president just in these Truth Social posts in the last few hours? It's a very good question because it's not entirely clear how much he could even implement of what he's just announced. He does have quite broad authority to regulate migration from certain countries. So the policy of just stopping migration from certain countries could probably be implemented with this authority.

16:31The Supreme Court has ruled in his favor in the past on similar kind of policies. But in terms of actually the policies that would affect foreigners and naturalized U.S. citizens in the U.S. right now, I'm no lawyer, but it seems highly questionable that he would have that kind of authority without Congress first amending immigration and naturalization laws to allow him to do that. So it's not really clear how quickly or how far he can actually go with these latest threats. This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by 6 a.m.

17:10Eastern each morning on Apple, Spotify or anywhere else you listen. You can also listen live each morning starting at 5 a.m. Wall Street time on Bloomberg 1130 in New York, Bloomberg 99.1 in Washington, Bloomberg 92.9 in Boston and nationwide on Sirius XM channel 121. Plus, listen coast to coast on the Bloomberg Business app, now with Apple CarPlay and Android Auto interfaces. And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it in five minutes or less. Search Bloomberg News Now on your favorite podcast platform to stay informed all day long. I'm Nathan Hager.

17:47And I'm Lisa Mateo. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.