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Trump Promises To Double Tariffs On Steel And Aluminum To 50 Percent; Musk Says He Has "Differences Of Opinion" With Trump Administration; U.N.: Iran Has Amassed Even More Weapons-Grade Uranium; Trans High School Student Athlete At Center Of Trump Funding Threat Advances To CA State Finals; Dems Rally In South Carolina As Party Looks To Rebuild Itself; Ex-Assistant Alleges Assault And Abuse By Music Mogul; Taylor Swift Announces She Now Owns All Her Music; PSG Wins Long-Awaited First Trophy In 5-0 Win Over Inter Milan; Knicks vs. Pacers In Game 6; U.N. Nuclear Watchdog; Iran Has Even More Near Weapons-Grade Uranium. Aired 6-7p ET

Aired May 31, 2025 - 18:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[18:00:46]

JESSICA DEAN, CNN HOST: You're in the CNN NEWSROOM. I'm Jessica Dean in New York.

Major U.S. trading partners are preparing to retaliate as President Donald Trump levies new tariffs on imported steel. Trump making that surprise announcement at a factory outside Pittsburgh promising to bump the tariff rate to 50 percent, but the move risks ongoing trade negotiations with American allies.

The European Union saying Trump's latest threat "adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic," adding they are willing to impose countermeasures.

CNN senior White House reporter, Betsy Klein is joining us now.

Betsy, what more can you tell us about the thinking behind this and what comes next?

BETSY KLEIN, CNN SENIOR WHITE HOUSE PRODUCER: Well, President Trump, unveiling the plans to double tariffs on foreign made steel while he was in Pennsylvania yesterday, set to take effect on Wednesday,. And while this could be good news for the American steel business, this could also have a significant impact raising prices on American manufacturing and construction.

It could also raise the price of cars, potentially. The president made that announcement after markets closed on Friday. Notably, we haven't seen much market reaction at this stage.

But in a surprise announcement, the President said that steel tariffs would be raised from 25 to 50 percent starting next Wednesday, a move he says will bolster domestic steel production. Listen.

(BEGIN VIDEO CLIP) DONALD TRUMP (R), PRESIDENT OF THE UNITED STATES OF AMERICA: We are going to be imposing a 25 percent increase. We are going to bring it from 25 percent to 50 percent, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States.

Nobody's going to be able to steal your industry. It is -- at 25 percent, they can sort of get over that fence, at 50 percent, they can no longer get over the fence.

I said to the group, would you rather have a 40 percent increase? Because I was thinking about 40 when I came. I said, would you rather have a 40 percent or a 50 percent? They said, we will take 50. I said, I had -- I had a feeling you were going to say that.

So congratulations.

(END VIDEO CLIP)

KLEIN: And as you mentioned, Jessica, both the European Union and the United Kingdom making clear that countermeasures for these steel tariffs are on the table, all of this adding to so much economic uncertainty and uncertainty for the President's trade and tariff agenda, this comes, of course, after a federal court earlier this week announced that it would block the President's tariffs, including those universal 10 percent tariffs, the tariffs he imposed on so-called Liberation Day and tariffs aimed at ending the supply of fentanyl.

Of course, later that day, an appeals court announced that the tariffs could stay in place while this works through the judicial system, but the administration is prepared to take this all the way to the Supreme Court and it really sets up two questions for the White House going forward.

Number one, what happens to those trade deals, the talks and negotiations that are currently in progress? The White House is urging their counterparts to continue to have those talks and negotiations, but their counterparts want to let this play through the legal system and see what happens.

Number two, on the topic of the presidents so-called big, beautiful bill that has passed the House, has yet to pass the Senate, the question of how they are going to pay for some of those tax cuts that the tariffs were being used to offset -- Jessica.

DEAN: And Betsy, I also want to ask you about Elon Musk leaving his official role within the administration. He had one last press conference with President Trump. What is the White House saying about this?

KLEIN: Yes, well, there are so many questions about the fallout of the relationship between the Trump administration and Elon Musk, but it became very clear in the final weeks that his influence had significantly waned from what it was in the first weeks of the Trump second term. We saw Musk reveal some daylight, including in an interview with CBS News recently where he said he had some differences of opinion with the Trump administration, but clearly a very notable show of force, show of support between these two men in the Oval Office on Friday, which was Musk's last day.

[18:05:13]

Now, Musk oversaw such massive transformation of the federal workforce through his so-called Department of Government Efficiency. At least 121,000 federal workers laid off or targeted for layoffs in Trump's first hundred days. Thousands more took buyout offers, but still, he fell far short of his stated $1 trillion reduction in government spending.

He said that that would happen after he has left.

DEAN: All right, Betsy Klein from the White House for us, thank you so much for that.

And joining us now is Tesla investor, Ross Gerber. He runs Gerber Kawasaki Wealth And Investment Management.

Ross, thanks for being here with us on a Saturday. We really appreciate it.

ROSS GERBER, GERBER KAWASAKI WEALTH AND INVESTMENT MANAGEMENT: Thank you.

DEAN: Musk has formally -- yes, good to see you.

Musk has formally ended his government role. Trump has said, though he is not really leaving. But as an investor, what message does this send to you and what are you anticipating from Elon Musk moving forward?

GERBER: Well, you know, obviously, I am happy to see him leave the government. It has been a disaster for Elon. It has been a disaster for Tesla and his other investments. And certainly the public sentiment of anger has been much directed at Elon, more so than even Trump.

So, you know, I kind of been joking, he kind of left with a blackeye, which actually was true. So, you know, as a Tesla investor, I am excited to see him back at Tesla because Tesla has huge challenges in front of them as they are launching their robo-taxi service this month here in June. And, you know, quite frankly, the software is far from complete.

So Elon couldn't be getting back to Tesla at a more important time. But that's the way he functions. If there isn't a crisis, it doesn't excite him enough to really be focused. So having him focus back on Tesla is a good thing, but I don't think he can fix the damage to the brand that easily.

DEAN: Yes, so that was my next question to you is how does he begin to fix the damage that has been done and how much of it is about him, and kind of where he has been in all of this, and how much of it is about to your point, there are some problems at Tesla on its own that need a CEO to come in and deal with.

GERBER: Right, so you've really got a couple of different issues that need to be addressed, probably -- I personally think the greatest issue is the brand damage, because nobody is going to take the robo- cab because it is a Tesla robo-cab, so it doesn't matter how many cabs they have if nobody will take them.

So the first issue is, can they repair the brand damage? And what steps will Elon take to build goodwill with its customers again, if any? And judging by his past, I don't expect much from him.

And so the damage could last for some time, so that's a major issue, and then secondly, they have major competition not only in the E.V. business, but with Waymo in the robo-taxi business. So Waymo is the first mover here. We use Waymo here in Santa Monica. It is wildly successful. People love the experience.

They are expanding and growing, and I think Waymo's system for robo- taxis, we know works now while Tesla's system right now doesn't work. So that's a second issue. If they are going to focus on autonomy and robotics, they've got to get it to work, and so it doesn't work as of now. So they've got very little time to get these things right.

DEAN: Yes, and real issues as you note that need to be focused on.

Musk has been critical of the Republicans' bill that they are pushing through right now on Capitol Hill. I just want to listen to what he said about it. This is what he said.

(BEGIN VIDEO CLIP)

ELON MUSK, CEO, TESLA: So, you know, I was like disappointed to see the massive spending bill, frankly, which increases the budget deficit, not to decrease it, and undermines the work that the DOGE team is doing.

DAVID POGUE, CBS NEWS: I actually thought that when this big, beautiful bill came along, I mean, like everything he has done on DOGE gets wiped out in the first year.

MUSK: I think -- I think a bill can be big or it can be beautiful, but I don't know if it can be both, my personal opinion.

(END VIDEO CLIP)

DEAN: Ross, what do you think about this legislation? Is Elon right kind of about how it is adding to the deficit, you know, just his questions around it. And then more broadly, as someone who works in the finance world, how is it being tracked and watched?

GERBER: Well, from my perspective, the biggest issue America faces really is our debt and inflation and the fact that the position of the United States in the world makes it harder for us to borrow from our foreign friends or ex-friends that we used to have that actually funded a lot of America's debt.

So now, we are in this situation where the Trump administration came in saying, we are going to fix this problem of inflation and debt, and then floated a bill that does the exact opposite.

So not only does it wipe out anything DOGE has done, which really has not been that productive, but it will wipe it out within a month of deficits in the first fiscal year.

[18:10:10]

So this is about running $2 trillion in deficits every year, which is unacceptable and not sustainable in the United States and could be, you know, somewhat cataclysmic over time, and so it is all about tax cuts for the wealthy. I mean, honestly, I am one of the people who actually benefits from this tax bill and I just am like shaking my head going, you know, wealthy people have never done better. I work in wealth management. I can tell you wealthy people have never done better in the last five years and this is under Biden as well.

Markets at all-time highs and such and what we really need to do is have a little austerity here and maybe try to keep this deficit under a trillion dollars, but that would involve massive changes in the way they want to do taxation, because essentially they are going to continue these tax cuts for the wealthy that are extremely expensive.

DEAN: Yes, it will be interesting to see to your point, how that evolves over time and where that leaves the deficit over time, especially as they came into office promising to cut the deficit.

I also do, while I have you, want to ask you about an issue we talked about at the beginning of our show, which is Trump's announcement of these tariffs on imported steel, that he is doubling those to 50 percent, five-zero starting on June 4th.

GERBER: Right.

DEAN: What does that mean practically for consumers and for again, for this economy?

GERBER: Well, I think for, you know, people out there, the simplest way to look at tariffs is, it is just a tax. So if we tax foreign steel, it makes it more expensive to build things and if it is more expensive to build things when it is already extremely expensive to build things, now, I live in the Palisades, so it is just a massive rebuilding effort that's going on here and all you see is twisted steel everywhere in the burned down buildings, so it all has to be replaced.

And, you know, I don't know if U.S. steel production is enough to, you know, fulfill demand in the United States, my assumption is it isn't.

And so, the other irony of this is it is all based around this U.S. steel deal with the Japanese steel company. So actually American steel is going to be bought by a Japanese steel company, which he is trying to actually protect and then he just did the only tariff deal he did was with England and part of that deal allows England to import steel at no tariff.

So now this is really weird because if I ship my steel to England and then from England ship to the United States, then there is no tariff at all. So he is creating a system that's basically just a mess and expensive and won't actually make U.S. steel have any more demand, because there already is demand for U.S. steel.

DEAN: All right, Ross Gerber, thanks for being here. It was nice to cover a variety of topics. Really, really great to have you. Thank you so much.

GERBER: Yes. Thanks for having me.

DEAN: Yes.

When we come back, a U.N. watchdog group says Iran has amassed more near weapons-grade uranium as the White House sends a detailed proposal for a nuclear deal.

Also ahead, Democrats rally in South Carolina as the party looks to find its way out of the wilderness.

You're in the CNN NEWSROOM.

(COMMERCIAL BREAK)

[18:17:49]

DEAN: A warning tonight from the United Nations' nuclear watchdog. Its confidential report, seen by Reuters, says Iran carried out secret activities at three locations that have been long under investigation. The report finds Iran has ramped up uranium enrichment almost 50 percent since the last report just in February, while nuclear talks with the U.S. have been happening.

Joining us now is Holly Dagres. She is a senior fellow at the Atlantic Council and curator of "The Iranist" on Substack.

Holly, thank you so much for being here with us. Really appreciate it.

I first just want to get your take away from this information that we are getting from this report reported out by Reuters.

HOLLY DAGRES, CURATOR, "THE IRANIST" ON SUBSTACK: Well, it comes at an interesting time. The fact that the United States had just handed a proposal via Oman, and for this, just hours after the fact, is really telling that despite these revelations that these talks are going to allegedly continue, and that really is what -- it shows that this is a ticking time bomb, essentially, because time is short and that Iran is ramping up its nuclear program, and we still haven't come to a conclusion about where these talks will go.

DEAN: Yes, and one of the criticisms about going the diplomatic route by some people is that Iran is playing the U.S. for a time, right? To kind of string them along while potentially they were doing something like this. What do you think about that? DAGRES: Well, historically, that has been the case and that's what a lot of analysts believe right now, is that Iran is stringing the United States along. We are right now, had five negotiations sessions right now between Rome and Muscat, and there really hasn't been much done except for this proposal that is, in essence, had said two things that Iran would no longer enrich uranium and that it would actually be part of a regional consortium, reportedly with Saudi Arabia, other Arab states, United States and Iran.

And this is actually Tehran's red line, and so the direction that these talks are going, the fact that it took this long just to convey something that's been somewhat publicly already been talked about and disputed between Special Envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi, who has been pushing back on this notion of zero enrichment, shows that we really haven't moved or progressed, and we still haven't really tackled the technical aspects of the deal.

[18:20:21]

DEAN: Now, the findings in this report pave the way for a push by the International Atomic Energy Agency Board to declare Iran in violation of its nonproliferation obligations. How likely would you say that is? If that happened, what would the fallout be?

DAGRES: So we are obviously in a delicate time given the nature that there are ongoing talks, and the IAEA and the Board of Governors are in their right to censor Iran in this context. But I wonder that will they actually be going that far, given the delicate nature?

And because historically, when Iran has been censored in the past by the IAEA Board of Governors, they've done things like actually increase enrichment, so they've doubled down or they've made it harder for the nuclear watchdogs' inspectors to actually access these facilities.

So you might find Iran actually responding not in the way that you want, and it has the propensity to actually scuttle the talks. So I think that this is a really delicate matter. And this is why the United States needs to talk to its European allies more, who have not really been involved in the talks -- Britain, France, Germany -- and bring them in so they can be on the same page on this issue, which is -- and they are to this extent about holding Iran accountable -- but they are talking past each other.

DEAN: Tell us more about that. Why bring in these European allies? Why would that make the U.S.' position stronger?

DAGRES: Well, there are actually something called the Snapback Mechanism, and there is this in essence, it is this tool that the Europeans can use because the United States is no longer part of the original JCPOA or Joint Comprehensive Plan of Action because of the Trump administration's first withdrawal in May of 2018.

And so, technically, the United States cannot act on this, but if they find that Iran is violating the deal, they can snapback these sanctions and if that timeline, which is coming very close, it makes it harder for these remaining signatories to actually snap back these sanctions.

And so the argument was that in June or July, the E.U.3 would potentially use snapback against Iran. And so when you brought back earlier to what you initially asked about Iran biding time, this is an example of why they might want to buy time to make sure that these snapback sanctions don't happen.

DEAN: All right. Holly Degras, senior fellow at the Washington Institute, thank you, Holly, for being here. We really appreciate it.

DAGRES: Thank you.

DEAN: Two American senators are in Ukraine this weekend to meet Ukrainian President Zelenskyy, calling for stronger sanctions against Russia. Republican Senator Lindsey Graham and Democrat Richard Blumenthal sitting down with Zelenskyy in Kyiv. They pledged to advance a bill that would put 500 percent tariffs on countries that buy Russian oil and other products.

A new round of direct peace talks are scheduled for Monday, but the plans are shaky so far.

CNN's Nic Robertson explains the key sticking points right now -- Nic.

NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: What Ukraine is saying is that Russia should really hand over that memorandum right now. That was their understanding. The Russian memorandum that lays out their view of what peace talks could look like.

The Ukrainians say that the understanding was that both the U.S. and Ukraine would get this document from Russia and they say the fact that Russia and we've just heard from the Russian Foreign Ministry saying that they won't be handing over this document before their team arrives in Istanbul for talks on the 2nd of June, Monday next. This document will be coming with them.

So you know, Ukraine's position is that they think that Russia is playing for time. They think that they are not really wanting to push with speed as President Trump wants, as they want, as Ukraine's European allies want towards a ceasefire and a lasting peace deal.

The Russian Foreign Ministry says their team is committed. They are sending this team. It is the second round of talks. The memorandum will come with them.

But what Russia has done, these strikes, 90 drones, two more big missiles fired into Ukraine does fly in the face of what President Trump's representative at the U.N. Security Council was talking about, that Russia should stop attacking Ukrainians if it is committed to peace, and if it doesn't stop attacking Ukrainians, then the United States would consider its position and pull back.

[18:25:00]

The representative also said that, you know, if Ukraine and Russia can work together to get a peace, the United States is ready to help them, ready to work with the U.N., ready to work with European partners as well over it.

And I think it is worth noting here that what President Zelenskyy says, particularly on reflecting on those comments we've heard from the U.S. representative at the United Nations Security Council, is that Ukraine wants the United States to remain diplomatically engaged in this process.

But it really seems as if the scene is set for these talks on Monday. Ukraine yet to say whether or not that they will go, but both sides are at odds already. Ukraine has handed its memorandum to Russia and the very real sense from the Ukrainian side and its European supporters that Russia is playing for time and an increasing sense there from the White House, that Russia is not committed to a peace process.

But where will it all stand at the end of Monday? I don't think anyone is expecting it to have advanced very far.

DEAN: All right, Nic Robertson for us, thank you so much for that.

Still ahead, why a high school state track and field championship final is drawing protests and the attention of President Trump.

You're in the CNN NEWSROOM.

(COMMERCIAL BREAK)

[18:30:39]

DEAN: A political fight involving President Trump and a 16-year-old high school student is being tested tonight. A.B. Hernandez, a transgender high school student-athlete, is competing in the California track and field championship finals. This, despite Trump threatening to pull federal funding from the state if that athlete continued to compete. Back in February, President Trump signed an executive order banning transgender athletes from competing in women's sports. CNN's Julia Vargas Jones is joining us now from Clovis, California. That's where the championships are taking place.

Julia, what are you hearing there? What's the vibe like?

JULIA VARGAS JONES, CNN CORRESPONDENT: Well, Jessica, this is the final of this championship, right? So, athletes that have been training for months for this. And there have been a handful of protesters that have shown up to protest A.B. Hernandez's participation in this. That is despite a California state law that allows for transgender teens to participate in the sports in the gender category that they identify with.

What the California Interscholastic Federation, the organization that handles all the inter-school activities in California, has done is make some amendments to the way that the championship is taking - takes place. So, yesterday, the qualifiers, they added an extra slot for those kids who did not qualify for - because A.B. Hernandez did qualify. And then today, in the awards ceremony, there will be an extra medal awarded for a teen that would have made it onto the podium if A.B. Hernandez makes it to the podium herself. Now, we did hear from some of these protesters who say that even those accommodations, they are not enough. Take a listen.

(BEGIN VIDEO CLIP)

JONES: You're talking about the executive order from February.

DAYLA ANDERSON, PROTESTER: Right. So, he signed it when he got into office right away, and it was a bold move, and our governor needs to comply with the President.

(END VIDEO CLIP)

JONES: And now the family of A.B. Hernandez has said multiple times that she deserves to be here, that she deserves to compete here today, and that her team is very much in support of her. And what we have heard, Jessica, from the majority of the parents that are here today is that they don't want this to be a political issue, they don't want it to be about this one athlete. They want to be here to celebrate their kids' sports and to cheer for them as they go on the state championship.

DEAN: All right. Julia Vargas Jones in California, thank you so much.

This weekend, Democrats in South Carolina are all gathered together for that state's Democratic convention. And as the party looks to rebuild itself after its defeat in November, it's trying to look toward the future with some of the party's rising stars and potential 2028 hopefuls taking the stage.

(BEGIN VIDEO CLIP)

GOV. TIM WALZ, (D) MINNESOTA: We have got to get it out of our heads that we can win the presidential election in seven swing states. We have got to get that out of our head. It is shrinking our impact. And more importantly than that, it's leaving the people behind who most need us to win elections so that we can improve their lives.

GOV. WES MOORE, (D) MARYLAND: Gone are the days when we are the party of bureaucracy. Gone are the days when we are the party of multiyear studies on things that we already know. Gone are the days when we are the party of panels. Gone are the days when we are the party of college debate club rules. We must be the party of action, and that action must come now.

(END VIDEO CLIP)

DEAN: CNN's Arit John is joining us now from Columbia, South Carolina.

Arit, we saw a couple of those rising stars in the party. What's reaction been like from the Democrats there?

ARIT JOHN, CNN REPORTER: South Carolina Democrats were really receptive to these messages. I mean, we started with Gov. Walz. I mean, of course, they're excited to hear a Democrat talk about winning back the South and investing in states like South Carolina where they'd like to win at the local level and the state level. At the same time, talking to Democrats here, there was this constant refrain of Democrats don't have a consistent message, the national leaders don't have - aren't speaking to a broad coalition of voters.

[18:35:03]

And so, to hear Gov. Moore talk about Democrats needing to be a party of action, people were very receptive to that.

DEAN: And look, they're talking about looking ahead to winning, not just in 2028, but look, the midterms are closer than that. And there's a lot of talk about this bill that Republicans are currently getting through Congress and Democrats want to try to use that to help them in the midterms. What are they saying about that?

JOHN: Exactly. I mean, we heard Gov. Moore saying that this - his trip here was not about 2028, but about the urgency of 2025 and 2026. And a big part of that is going to be messaging against the reconciliation bill. And, you know, take a listen to what Gov. Walz said this morning.

(BEGIN VIDEO CLIP)

WALZ: So, to put it plainly, the rich are going to feast and the rest of us will be lucky if we get scraps. Thirteen million kids will be kicked off free school lunch. Those kids get to go to school hungry. And all but two Republicans voted for this big, beautiful pile of bullshit. All but two.

(END VIDEO CLIP)

JOHN: So, we can expect to hear Democratic candidates up and down the ticket talking about this bill, sharing the similar messaging of calling it a wealth transfer and saying that it's a tax cut for billionaires. Jessica?

DEAN: All right. Arit John there in Columbia, South Carolina. Thanks so much for your reporting.

After a record-breaking Eras Tour, Taylor Swift announces she now owns all of her records. You're in the CNN NEWSROOM.

(COMMERCIAL BREAK)

[18:41:17]

DEAN: Sean Combs' former assistant is alleging repeated abuse by the music mogul. The ex-employee used the pseudonym "Mia" as she testified in the ongoing trial. She said Combs was violent and abused her physically, verbally and sexually. Combs has been charged with racketeering and sex trafficking. He has pleaded not guilty. Kara Scannell has the latest.

(BEGIN VIDEO CLIP)

KARA SCANNELL, CNN CORRESPONDENT: Sean Combs' former assistant, testifying under a pseudonym "Mia" was under cross-examination for much of Friday. She was confronted with about three dozen social media posts she made about Combs. In these posts, she posted photos of them smiling, captions that called him a legend, mentor and inspiration, and also writing repeatedly, I love you with multiple exclamation points.

The jury was also showed several posts where she wished Combs a happy birthday. And Combs' attorney, Brian Steel, said to her, "Wasn't that the anniversary of the very first time you claimed he sexually assaulted you?" Mia testifying that for her job, she was expected to promote him. And she also said that she was still unraveling all of this in therapy. She was also showed a scrapbook that she made for Combs for his 45th birthday. Along with that scrapbook sort of encompassing his rise in hip-hop in the '90s, was a long-handwritten note. She was asked, "Why would you make a scrapbook for him if he sexually assaulted you and brutally beaten your best friend, Cassie Ventura?" Mia testified, "It's a lot more complicated than the way you phrased that. It's abuse on many levels."

She was also challenged directly, asked, you just made up that Sean Combs sexually assaulted you. He never did that. Mia testified that everything she said on the stand was true.

Now, earlier in the day, she was still under direct examination by the prosecution. And then she testified that two weeks after Cassie Ventura filed her civil lawsuit against Combs, that she was contacted by Combs' security guard called D-Rock. And Combs himself, she said, Puff wanted D-Rock to get to me and make sure I wasn't a threat. She called that a front. Mia will be back on the witness stand on Monday for more cross-examination.

Kara Scannell, CNN, New York.

(END VIDEO CLIP)

DEAN: Kara, thank you for that update.

Taylor Swift is finally able to shake off a years-long battle to regain ownership of her work. The pop star says she now owns her entire music catalog, buying her master recordings from a private equity company. CNN's Randi Kaye reports.

(BEGIN VIDEOTAPE)

(BEGIN VIDEO CLIP)

TAYLOR SWIFT, AMERICAN SINGER-SONGWRITER: I've always wanted to own my own music.

(END VIDEO CLIP)

RANDI KAYE, CNN CORRESPONDENT (voice over): And now she does. Taylor Swift announced the news on her website today, writing, "All of the music I've ever made now belongs to me."

Back in 2019, Swift said she'd been, quote, "blindsided" when the master recordings of her first six albums were part of the deal when her former label was sold to producer Scooter Braun.

(BEGIN VIDEO CLIP)

TAYLOR: I made it very clear that I wanted to be able to buy my music. That opportunity was not given to me and it was sold to somebody else.

(END VIDEO CLIP)

KAYE (voice over): Braun insisted Swift's team was aware of the pending deal. Swift wrote on Tumblr then that the $300 million deal "stripped me of my life's work." She moved on and signed with Universal Music Group's Republic Records, which allowed her to own her future masters. She also found a way to reclaim ownership of most of her earlier music by rerecording her first five albums.

(BEGIN VIDEO CLIP)

TRACY SMITH, CBS NEWS CORRESPONDENT: That's the plan?

TAYLOR: Yes, absolutely.

I just figured I was the one who made this music first. I can just make it again.

SETH MEYERS, LATE NIGHT WITH SETH MEYERS HOST: Yes.

TAYLOR: So that's what we're doing.

MEYERS: I have to say ...

TAYLOR: So, that's what we're doing. So, when something says in parenthesis, "Taylor's version" next to it, that means I own it, which is exciting.

(END VIDEO CLIP)

[18:45:00]

KAYE (voice over): And when Swift announced her new album "Lover" on Good Morning America in 2019 ...

(BEGIN VIDEO CLIP)

TAYLOR: One thing about this album that's really special to me is that it's the first one that I will own. I think that artists deserve to own their work. I just feel very passionately about that. My contract says that starting November 2020, so next year, I can record albums one through five all over again.

(END VIDEO CLIP)

KAYE (voice over): And now Swift also owns all her music videos, concert films, album art and photography, along with unreleased songs purchased, she wrote, "with no strings attached" from a private equity company that had bought her master recordings. Swift told her fans, "This is my greatest dream come true."

Randi Kaye, CNN, West Palm Beach, Florida.

(END VIDEOTAPE)

(COMMERCIAL BREAK)

[18:50:23]

DEAN: Tonight, a historic victory in European soccer, Paris Saint- Germain winning its first ever Champions League trophy, beating Inter Milan five to zero in a stunning upset. Closer to home, the New York Knicks facing off against the Indiana Pacers. This will be their sixth game in the Eastern Conference Finals. The Pacers leading that series three to two. And with all of that in mind, Patrick Snell joins us now.

A lot to get to, Patrick. Big night for sports fans. Let's start first with this big soccer final, PSG pulling off this incredible upset and a historic win.

PATRICK SNELL, CNN SPORT ANCHOR & CORRESPONDENT: Yes, incredible stuff. The Super Bowl, if you like, of European football history is made by Paris Saint-Germain, the Qatari-owned club turning on the style to win this tournament for the first time in their history. This is a tournament that goes back to the mid-1950s. Their star man in Munich, Desire Doue, who becomes the youngest player ever to score in a Champions League final and have an assist as well. He got two for the record. That goal there was the third for PSG. It effectively clinched the cup for them. Oh, Big Ears is the nickname for that club. An incredible achievement.

Inter Milan absolutely thrashed. PSG, a wonderful team, a wonderful mix of youth and inexperience. But at times, you know, that inexperience can work in their favor, and it did on Saturday in the Bavarian capital. PSG, absolutely thrill-a-minute performance, great value for their historic win. And we now have a global superstar, I feel, Jessica, in the men's game, Desire Doue, just 19 years of age. Back to you.

DEAN: Wow. He's got a lot ahead of him. Also in the NBA, the Knicks really want to win this one. What are the odds? How - they're just right down - they play right down the street from where we are.

SNELL: Right.

DEAN: So, we've been following this closely.

SNELL: I know, yes. Anything can happen in sports. We know that. Unfortunately for the Knicks, though, they've never come back from a 3-1 deficit. Anything can change, though. We'll say that. They were able to keep the series alive by winning game five. That was on Thursday in front of the big New York crowd over there. Game six in just over an hour's time from right now, that's going to be in Indiana. Jalen Brunson and the rest of the Knicks will try to keep their season going and hope to win their first title since 1973. Potentially more history on the line, we shall see.

By the way, tonight's big game is on our sister network, TNT. Not to be missed. With that, right back to you.

DEAN: All right. A great night. Patrick, thanks so much for that update. Still to come, the Supreme Court paves the way for President Trump to pull migrants' deportation protection status. We're going to have much more on that just ahead. You're in the CNN NEWSROOM.

And a quick programming note, George Clooney stars in Broadway's "Good Night and Good Luck" presented live on CNN in a first-of-its-kind broadcast. Watch the Tony-nominated play next Saturday at 7 P.M. right here on CNN and also streaming on cnn.com.

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DEAN: You're in the CNN NEWSROOM. I'm Jessica Dean in New York.

And we begin with new developments involving the U.S., Iran and President Trump's desire to reach a nuclear agreement. Tonight, the United States delivered to Tehran a new formal outline in writing, laying out the details of such a proposal. But it also comes at a key moment, because just hours earlier today, a confidential report by a U.N. nuclear watchdog confirmed Iran has increased its stockpile of near weapons-grade level uranium. CNN's Betsy Klein is joining us now.

And Betsy, we know the President has been involved in these talks. Does this U.N. watchdog report create problems? What comes next?

KLEIN: Well, it's certainly a very sensitive moment for these talks and could potentially be a major development in the U.S. effort to secure a nuclear deal with Iran. Now, the President has repeatedly stated, Jessica, that Iran cannot have a nuclear weapon. He has warned of violent consequences if they do so.

And this week, just a few days ago in the Oval Office, he said that an agreement with Iran is, quote, "very close." Now, U.S. Special Envoy to the Middle East, Steve Witkoff has been involved in these talks with Iran over several rounds, moderated by Oman. And Karoline Leavitt, the White House Press Secretary, announced in a statement just moments ago: "Special Envoy Witkoff has sent a detailed and acceptable proposal to the Iranian regime, and it's in their best interest to accept it."

Now, that proposal was delivered personally to Iran's foreign minister by Oman, which again has served as a key intermediary here, according to a post on social media. Now, Leavitt declined to provide additional details on the substance of what was in this proposal. And a senior administration official told me that a date for the next set of talks between the U.S. and Iran has not yet been set.

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But at the same time, there is a lot of urgency here.