Bloomberg News Now April 2, 2026: Bondi Out as Attorney General, US Adjusts Tariffs for Broad Metals, More
Apr 3, 2026
Coverage of a sudden change at the Justice Department and talk about potential successors. Discussion of major tariff reshaping for steel, aluminum and copper and legal challenges to the moves. Warnings about possible huge tariffs on imported medicines to bring production home. Reports on tensions and diplomacy around the Strait of Hormuz and naval protection. A surprising valuation rumor about SpaceX.
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Bondi Exit And TV Personality Factor In AG Succession
- Pam Bondi is leaving as U.S. Attorney General after a Truth Social post announced her move to the private sector.
- Todd Blanche will serve as acting AG while Lee Zeldin is reportedly discussed as a TV-ready nominee instead of the DOJ insider Blanche.
Tariff Overhaul Creates 15% Metal Content Exemption
- The Trump administration reshaped tariffs: 50% kept for many steel, aluminum, copper products, but goods with under 15% metal content are exempt.
- Some derivative goods deemed substantially made of a metal face a reduced 25% rate, aiming to simplify prior shifting rules.
Tariff Changes Driven By Lawsuit Risk
- Hundreds of companies sued over prior changing steel and aluminum tariffs, arguing the administration violated the Administrative Procedures Act.
- The new blanket tariff framework appears aimed at reducing legal exposure from those suits.