特朗普暂停对加拿大50%关税，称已达成协议

LIVE FROM WASHINGTON DC, THIS IS "BALANCE OF POWER" WITH JOE MATHIEU AND KAILEY LEINZ. KAILEY: THE TRUMP ADMINISTRATION IS WATCHING THE BOND MARKET, CANADA AND TECH.WELCOME TO "BALANCE OF POWER." THE PRESIDENT PUNTING ON NEW CANADIAN TARIFFS THAT WERE SET TO GO INTO EFFECT TODAY AND INSTEAD SHIFT HIS FOCUS TO A MEETING AT THE WHITE HOUSE THIS AFTERNOON WITH THE LEADERS OF BIG TECH AND CRYPTO COMPANIES. WE GET THE LATEST FROM THE WHITE HOUSE FROM BLOOMBERG'S TYLER KENDALL, AND TALK ABOUT THE CEOS WHO WERE NOT INVITED TO THIS MEETING, THE ONES THAT LEAD PREDICTION MARKETS, WITH CHRIS CHRISTIE.

WE HAD TO TALK ABOUT THE TREASURY'S NEW BIGGER BUYBACK PROGRAM FOR A LONG AND RATES AS THEY LOOK TO PUT PRESSURE ON YIELDS THAT HAVE RISEN TO THE HIGHEST LEVEL IN DECADES. WE WILL TALK ABOUT SCOTT BESSENT'S MOVE. WE WILL GET INTO THE RESULTS OF YESTERDAY'S PRIMARIES. FLORIDA AND ALASKA IN FOCUS. BUT FIRST LET'S TALK ABOUT THESE FINANCIAL MARKETS IN THE BOND MARKET REACTION TO SCOTT BESSENT'S MOVE. AMY: TREASURY IS INCREASING THE SIZE OF LIQUIDITY SUPPORT BUYBACK OPERATIONS FOR SECURITIES DATED FROM THE 10 YEAR SECTOR BY AT LEAST DOUBLE.

THE MOVE IS INTENDED TO REIN IN LONG-TERM BORROWING COSTS FOR MULTIYEAR HIGHS. THAT IS WHAT KEPT HE WAS MORTGAGE AND OTHER BORROWING RATES HIGH. THE RAMPED UP BUYBACKS ARE SET TO BEGIN SEPTEMBER 9. THIS HAS ALL SPARKED A WALL STREET REBOUND. WE CHECK MARKETS FOR YOU ALL DAY LONG AND BLOOMBERG. S&P 500 UP .3%. NASDAQ UP .25%. THE 10-YEAR TREASURY YIELD NOW AT 4.65%. THE TWO YEAR YIELD AT 4.18%. THE AFOREMENTIONED 30 YEAR TREASURY YIELD 5.19%.

CRUDE OIL MOVING HIGHER. WTI CLOSING IN ON $87 A BARREL. BRENT CRUDE TOPPING $92 A BARREL. A PERSONALIZED VACCINE DEVELOPED BY MADRONA AND MARK HELP REDUCE THE RECURRENCE OF MELANOMA IN LARGE LATE STAGE TRIALS. THE TRIAL MET ITS MAIN GOAL OF SHOWING THIS VACCINE COMBINED WITH MERCK'S IMMUNE DRUG REDUCED MELANOMA OCCURRENCES MORE THAN THE IMMUNOTHERAPY ALONE. THE MODERNA SEE US AS IT COULD BE APPROVED AS SOON AS NEXT YEAR.

SHARES OF MODERNA NOW 141% HIGHER. TARGET SHARES NEARLY 6% HIGHER. TARGET LIFTED ITS FULL-YEAR GUIDANCE AFTER RESULTS OUTPACED ESTIMATES, SUGGESTING TARGET MAY BE MOVING PAST A LENGTHY SALES SLUMP. THE TARGET LOOKING FOR CONSISTENT GROWTH FOLLOWING THREE YEARS OF DECLINING REVENUE. FOR ON DEMAND NEWS, 24 HOURS A DAY SUBSCRIBE TO BLOOMBERG NEWS WHEREVER YOU GET YOUR PODCASTS. THAT IS A BLOOMBERG BUSINESS FLASH. KAILEY: WATCHING THE MARKETS THAT DO NOT HAVE TO ADJUST TO A NEW REALITY OF A STRICTER TARIFF REGIME ON ONE OF THE U.S.'S LARGEST TRADING PARTNERS.

AT THE VERY LEAST NOT YET. AS OF 10:14 P.M. LAST NIGHT THERE WAS A REAL CHANCE THOSE 50% LEVIES ON BILLIONS OF CANADIAN GOODS WOULD GO INTO EFFECT AT MIDNIGHT. THEN AT 10:15 , THE PRESIDENT WRITING "I PAUSED THE 50% TARIFFS ON CANADA FOR A THREE DAY PERIOD , BASED ON THE FACT THAT CANADA AND THE USA SUBJECT TO THE FINALIZATION OF DOCUMENTS HAVE A DEAL." THE CANADIAN PRIME MINISTER MARK CARNEY IS WEIGHING IN AS WELL, SAYING ON X THAT CANADA ENTERED THESE DISCUSSIONS WITH THE BEST OVERALL TRADE TERMS.

WE ARE MOVING TOWARD AN AGREEMENT THAT REINFORCES THAT CANADIAN ADVANTAGE, INCLUDING BY SECURING THE BEST TERMS IN EACH OF CANADA'S MOST IMPORTANT STRATEGIC SECTORS. AS WE CONSIDER THE PATH TOWARD A FINAL DEAL IN THE NEXT THREE DAYS, WE TURN TO BLOOMBERG WASHINGTON CORRESPONDENT TYLER KENDALL LIVE AT THE WHITE HOUSE, WHO HAD A CHANCE TO QUESTION THE PRESIDENT DIRECTLY ABOUT THIS EARLIER TODAY. TYLER: AT THIS POINT, WE ARE GETTING OPTIMISTIC TALK FROM BOTH PRESIDENT TRUMP AND THE CANADIAN PRIME MINISTER.

THE ONE THING WE ARE STILL MISSING ARE THOSE KEY DETAILS ON WHAT IS GOING TO BE IN THIS AGREEMENT THAT ULTIMATELY CAUSED THIS WHITE HOUSE TO STOP ITS INTENT TO IMPOSE SOME PUNISHING TARIFFS OF UP TO 50% ON $20 BILLION WORTH OF CANADIAN GOODS. BUT I HAD THE CHANCE TO ASK PRESIDENT TRUMP DIRECTLY TO SEE IF WE COULD GLEAN ANY DETAILS ON WHAT MAY BE IN THAT AGREEMENT.

DO YOU HAVE ANY UPDATE ON NEGOTIATIONS? PRES. TRUMP: WE HAD A VERY GOOD CONVERSATION WITH THE PRIME MINISTER LAST NIGHT AND HAVE COME TO A DEAL WITH CANADA. THE 50% TARIFFS ACROSS THE BOARD WE ARE GOING ON AGAINST CANADA TODAY. THEY CALLED YESTERDAY AND GAVE US THE POINTS WE HAD TO HAVE. FAIR DEAL FROM BOTH. OUR FARMERS WILL BE THRILLED. OUR MANUFACTURERS WILL BE THRILLED. WE HAVE NO TARIFFS GOING INTO CANADA ANYMORE.

TYLER: THERE ARE A FEW POINTS OF CONTEXT. ONE, THESE 50% THREATENED LEVIES WERE GOING TO BE UNDER SECTION 338, WHICH HAS NEVER BEEN USED BEFORE BUT GIVES THE PRESIDENT AUTHORITY TO ISSUE TARIFFS OF UP TO 50% IF THE U.S. FEELS A COUNTRY IS DISCRIMINATING AGAINST U.S. COMMERCE. THE MORE STICKY ARE PART OF TRADE NEGOTIATIONS BETWEEN THE U.S. AND CANADA COMES DOWN TO THOSE SECTION 232 TARIFFS OVER NATIONAL SECURED CONCERNS RELATED TO AUTOS AND LUMBER.

I FOLLOWED UP BY ASKING THE PRESIDENT IF WE COULD EXPECT ANY LOWERING OF THE RATES WHEN IT COMES TO THOSE LEVIES IN PARTICULAR. HE SEEMED TO NOD THAT THERE MAY BE MOVEMENT. HE SAID SOME THINGS NEED TO BE FINALIZED BUT ULTIMATELY THE U.S. NEEDS TO GET SOME THINGS IN NEGOTIATION TOO. THAT IS SOMETHING TO KEEP YOUR EYES ON AS WE FIGURE OUT WHAT THE AGREEMENT IS GOING TO LOOK LIKE. KAILEY: I KNOW YOU HAVE TO GET BACK INTO THE WHITE HOUSE BECAUSE AN IMPORTANT MEETING WILL BE TAKING PLACE IN ABOUT AN HOUR.

THE PRESIDENT MEETING WITH A NUMBER OF TECH AND CRYPTO EXECUTIVES IN PARTICULAR. TELL US WHAT WE SHOULD EXPECT. TYLER: THIS IS BEING BILLED AS A PREVIEW TO A CFT SUMMIT TOMORROW THAT WILL FOCUS ON SOME OF THOSE TOP ISSUES RELATED TO CRYPTO, DIGITAL ASSETS AND PREDICTION MARKETS. THERE IS REPORTING THAT PREDICTION MARKET CEOS WILL NOT BE IN ATTENDANCE. IT IS GOING TO BE MORE OF THE CEOS RELATED TO CRYPTO. WE ARE WAITING FOR A FINAL CONFIRMATION LIST.

I DON'T NEED TO TELL YOU AT THIS POINT WE ARE CLOSELY WATCHING WITH THE SENATE WILL DO WHEN IT COMES TO THE MARKET STRUCTURE, THE CLARITY ACT SEPTEMBER 15 WE ARE EXPECTING THE BOOK TO HAPPEN. IT IS NOT A DONE DEAL AND THAT WILL OPEN BIG QUESTIONS ABOUT REGULATION FOR THE INDUSTRY AND WHAT IT WILL LOOK LIKE GOING FORWARD. KAILEY: WE LOOK FORWARD TO YOUR COVERAGE FROM THIS AFTERNOON. PRESIDENT TRUMP SLATED TO SPEAK 2:30 P.M.

EASTERN TIME ON THAT. AS WE WERE TALKING TO TYLER, WE DID JUST GET A RED HEADLINE PERTAINING TO THE$16 BILLION 20 YEAR AUCTION FROM THE UNITED STATES TREASURY. MORE ISSUANCE. AS WE CONSIDER THE TAKEDOWN, IT DID DRAW A SILLY HIGHER YIELD THAN THE PRESALE -- A SLIGHTLY HIGHER YIELD THAN THE PRESALE, DRAWING 5.204%. THIS FOLLOWS THE BIG ANNOUNCEMENT FROM THE TREASURY DEPARTMENT AS SCOTT BESSENT, JUST TWO WEEKS AFTER HAVING RELEASED THE BUYBACKS SCHEDULE, ANNOUNCED FOR LONG YEAR YIELDS 10 TO 30 YEAR DURATION THEY WILL AT LEAST DOUBLE THAT.

A MOVE TO ADDRESS THAT YIELD HAD BEEN SURGING TOWARD MULTI-DECADE HIGHS. WE GET THE HIGHEST LEVEL SINCE 2007 ON THE 30 YEAR YIELD EARLY THIS WEEK. LET'S TALK ABOUT THAT AS WE TURN TO A U.S. RATES STRATEGY JUST FOR BLOOMBERG INTELLIGENCE. AS WE CONSIDER THE TREASURY'S MOVE TODAY, IS THIS SIMPLY A TECHNICAL ONE OR DOES IT ADDRESS THE FUNDAMENTALS? IRA: IT DOES NOT ADDRESS THE FUNDAMENTALS ONE IOTA. I THINK IT IS JUST AN ACKNOWLEDGMENT THAT YIELDS ARE HIGHER THAN WE WANT THEM TO BE AS AN ADMINISTRATION, AND WE ONLY HAVE A FEW TOOLS THAT WE CAN USE PARTICULARLY IN THE SHORT-TERM TO STOP YIELDS FROM MOVING SIGNIFICANTLY HIGHER.

THEY TOOK THEIR SHOT. WHAT IS INTERESTING IS NOT SO MUCH THAT THEY DID IT, BECAUSE WE THOUGHT THERE WAS A POSSIBILITY THIS WOULD HAPPEN, BUT THEY DID NOT DO IT AT THE QUARTERLY REFUNDING ANNOUNCEMENT , THEY DID IT ON A RELATIVELY LIQUID MIDSUMMER DAY. INSTEAD OF A COUPLE WEEKS AGO WAITING TO NOVEMBER. KAILEY: TIMING IS EVERYTHING. ALSO COINCIDING WITH THE DAY IN WHICH THEY WERE AUCTIONING OFF MORE DEBT THAT FALLS INTO THIS DURATION CATEGORY. $16 BILLION OF 20 YEAR BONDS SOLD.

HOW SHOULD WE THINK ABOUT THE TAKEDOWN? IRA: IT WENT OK. WE DO THIS GRADING SYSTEM FROM D TO A+. WE GAVE IT