News when you want it with Bloomberg News Now, I'm Doug Prisner. Pam Bondy is leaving her position as US Attorney General today. In a post on truth Social President Trump said, BONDI will transition to a new job in the private sector. Deputy ag Todd Blanche will serve as acting Attorney General, and we are told President Trump has discussed nominating EPA administrator Lee Zelden as a successor. Here is Matthew Seligman, founder of Greyhawk Law.
Well. I think it's telling that Lee Zelden's name is being floated right now when Todd Blanche is the acting Attorney General. He's been in the Department of Justice since the beginning of this second term. He's served President Trump in a private capacity during the criminal prosecutions a President Trump, and yet the obvious choice perhaps is not being floated as the next choice. The reason why I think that's telling is because Todd Blanche, who is a very good lawyer,
is also not a TV personality. And something that we've seen across President Trump's first and second term is that what he once out of his cabinet officials is not only the execution of his policies and his priorities, but also a certain type of ability to present on TV and before Congress.
As Matthew Seligman, founder of Greyhawk Law. Meantime, President Trump is reportedly weighing more changes to members of his cabinet. Politico reports Trump has expressed frustration and disappointment with Commerce Secretary Howard Lutnik and Labor Secretary Lorie Chavez Derrimer. According to Politico, Trump is very angry and he's going to be moving people. The Trump administration is reshaping its tariff
policy on steel, aluminum, and copper. A tariff of fifty percent will be maintained on many imported steel, aluminum and copper products, and at the same time, goods made with total steel, aluminum or copper content below fifteen percent will effectively be exempted, and some other derivative goods will be subject to a lower twenty five percent rate if they are deemed to be substantially made of one of those medals. Here is Henrietta trays of Veda Partners.
The President is being sued by hundreds of companies for the changes that he made to steal an aluminum terraff, impacting downstream derivatives since last year. And it's because he violated the Administrative Procedures Act, which is, he provided an undue burden to so many companies with the constant changing of tariffs that they sued him for and they were
potentially going to win that lawsuit. And that's why the USDR is coming out and commerce coming out with a blanket understanding of where the tireff rates are going to be.
That is Henrietta Trays of Veda partners. Now. At the same time, the Trump administration will impose tariffs on certain imported medicines with rates of as much as one hundred percent to pressure drug makers to manufacture more in the US. President Trump issued fresh threats today on Iranian infrastructure in a bid to pressure to i ran in negotiations. In a post on truth Social Trump said the biggest bridge
in Iran was destroyed by airstrikes. Now. Trump's comments and the continued strikes on Iran are complicating efforts by the US and partners to broker a deal with the Islamic Republic that will include reopening the Strait of horm Moves. Meantime, the UK convened more than forty US allies to discuss plans to reopen the Strait. International allies are threatening Iran with more sanctions if it does not agree to unblock this critical shipping lane. Here is British Foreign Secretary of at Cooper.
Now that we are facing these reckless Iranian attacks on international shipping, affecting countries from across the globe who played no part in this conflict, and more than forty countries coming together for these discussions today, we're clear that we need the diplomatic pressure, the economic pressure, and also the work that's being done separately by military planners on how to keep shipping safe for the long term when the conflict conclude.
That is British Foreign Secretary of at Cooper. Meantime, three oil tankers broadcasting Omani ownership appeared to enter the straight of hoorm Moace by hugging the coastline of their home country. Meantime, Iran is reportedly drafting a protocol with Oman to monitor traffic through the Strait. Iran's deputy foreign minister told Russian state media that shippers would be required to pay tolls to the Islamic Republic. SpaceX has boosted its target IPO
valuation above two trillion dollars. The world's most valuable startup is gearing up to pitch investors in potentially the biggest ever market debut. We are told the company and its advisors are floating the two trillion dollar figure to prospective investors ahead of meetings in the coming weeks. Now, Bloomberg News has already reported that SpaceX filed confidentially for an IPO that could take place in June. President Trump's new White House ballroom has received final design approval from a
key commission. More from Bloomberg's Ammy Morrison, Washington.
The approval comes after a federal judge ordered a halt construction unless Congress approves the project. A spokesperson for the National Capital Planning Commission, which Trump has packed with allies, says the judge's ruling affects construction activities, not planning. Still, the judge's ruling and the legal fight over the ballroom could stall progress on the project that Trump once completed
before his term ends in early twenty twenty nine. The ballroom is estimated to cost four hundred million dollars and has faced opposition and legal challenges in Washington. Amy Morris, Bloomberg Radio.
The US Environmental Protection Agency has proposed adding microplastics and pharmaceuticals to its list of drinking water contaminants. Now this could lead to regulations of those compounds. Thepa's announcement begins a process to consult with scientists. It also opens a public comment period. The regulatory process would likely take several years. Here is Health Secretary Robert F. Kennedy Junior.
This is not a rare exposure. This baseline, we are not dealing with a distant or theoretical risk. We are dealing with a measurable and growing presence inside the human body.
The Trump administration touted the moon as a win for the Make America Healthy Again movement. And that is news when you want it with Bloomberg News. Now, I'm Doug Prisner, and this is Bloombery