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Quest Means Business
Wall Street Extends Rally As U.S. And Canada Resume Talks; Senate Republicans Scramble for Votes On Trump Agenda Bill; Trump: TikTok Buyer Has been Found, Pending China's Approval; Republicans Aim To Repeal Wind And Solar Power Incentives; Two Firefighters Shot Dead While Responding To Brush Fire; At Least 20 Countries Under Heat Alerts As Temps Soar. Aired 4- 5p ET
Aired June 30, 2025 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:03]
PAULA NEWTON, CNN INTERNATIONAL HOST: Fresh records on Wall Street. Look at that, the Dow above 44,000 points. Again, I know it doesn't seem like it.
This is a holiday week after all, but apparently, it is game on for the American markets. Those are the markets and these are the main events.
The White House says Canadian Prime Minister Mark Carney caved to U.S. demands to revoke the new digital tax.
President Trump says he has found a buyer for TikTok. We will hear from investor Kevin O'Leary, who has expressed interest in buying the platform.
And yes, Southern Europe sizzles in its first major heatwave of the summer.
Live from New York, it is Monday, June 30th. I am Paula Newton, in for Richard Quest and this is QUEST MEANS BUSINESS.
So tonight, U.S. stocks have hit fresh record highs after the Trump administration resumed trade talks with Canada. Now the Dow finished 274
points higher. The S&P, NASDAQ meanwhile yes, both closed at new records. Earlier today, the White House said it would get back to work on a trade
deal with Canada. The country dropped plans to collect a new digital services tax on Big Tech companies. Trump had called that tax an attack on
the U.S. and walked away from negotiations just Friday.
Remember, now, the White House says Canadian Prime Minister Mark Carney, in its words, caved to Trump. Carney says the move just made sense. Listen.
(BEGIN VIDEO CLIP)
MARK CARNEY, CANADIAN PRIME MINISTER: We expected in the broader sense that would be part of a final deal. We are making progress towards a final deal.
There is more to be done, to be clear. And as I just said, which answers the translation question, as I just said, is a question of timing in terms
of the date for the final negotiations and when the tax was coming in into effect. And, you know, it doesn't make sense to collect tax from people and
then remit them back.
So it provides some certainty, and as I just said, negotiations have restarted. We are going to focus on getting the best deal for Canadians.
(END VIDEO CLIP)
NEWTON: So Canada's reversal there, and it was a reversal could pose a problem for other trading partners in talks with the United States and that
includes the E.U. whose members do have digital services taxes. White House economic advisor, Kevin Hassett suggested the U.S. will bring them up as a
non-tariff trade barrier. Listen.
(BEGIN VIDEO CLIP)
KEVIN HASSETT, DIRECTOR OF THE COUNCIL OF ECONOMIC ADVISERS: They have this thing called a global minimum tax, a pillar two tax, which the G7 countries
have agreed that they're not going to charge our companies taxes that really they shouldn't and then we've also got the digital sales taxes. So
we've got all the pillar two stuff gone now and then the digital sales taxes.
We will see if they take them off. If they don't take them off, then Jamieson Greer will have something to say.
(END VIDEO CLIP)
NEWTON: Jeff Zeleny is in Washington for us.
You know, the Trump administration seems very comfortable playing hardball and yet the expectation, as we saw from the markets, Jeff, is that Donald
Trump and his Cabinet can get these deals done. I mean, what are you hearing? Because there is so much to get done before deadlines in July.
JEFF ZELENY, CNN CHIEF NATIONAL AFFAIRS CORRESPONDENT: Paula, I think we've almost lost track of the number of deals that have been on and off between
the U.S. and Canada. You know this better than most because of your post in Ottawa.
But look, the reality is it is working in some respects, at least to get countries to come back to the trading table in the U.S. I mean, it is
simply whiplash on this. It was just Friday when the U.S. announced that the trade was off and then Canada acquiesced, basically, for lack of a
better word.
But look, going forward to the broader trade deal, the calendar, it seemed at the time that July 9th was a long ways away. You heard administration
officials talking about 90 deals in 90 days. Well, those days are about numbered. I mean, we are opening July tomorrow, so there is about one week
when you subtract the holiday from it there.
So there are a lot of deals that need to get done, but the market has gotten used to this roller coaster, self-imposed, if you will, by the Trump
administration of sort of jerking other countries around and changing its trading policies. So maybe in some respects it is working on that front.
But that July 9th deadline is a big one and there is not nearly the progress if you talk to administration officials sort of privately and
honestly, there is not nearly the progress that they would have hoped back when they first set that, I think it was back in April.
NEWTON: You know, I do wonder where we are at, though, Jeff. I mean, look, that whole thing about the TACO trade, right? Trump always chickens out, I
am not sure how that will age in the coming weeks, but I also know that you get out, you know, into the country, into the United States. And clearly
there is pressure on this administration, right? Because tariffs are wreaking havoc in some corners of the country.
[16:05:05]
ZELENY: Certainly with small businesses, the Ag sector and others. I mean, there are farmers who are quite literally on the edge of their seats,
tractor seats, truck seats, what have you. And they are obviously waiting with some amount of dread for the harvest season to come. But even other
small business owners and other manufacturers and things that produce things on a daily basis, this has been very devastating for them.
The trade just whiplash, a lack of consistency regardless of sector, regardless of a political party. One thing we hear time and time again, a
lack of certainty, a lack of sort of knowing what is coming tomorrow, never mind a month from now. So this is something that has a lot of frustration
building up at the President.
But look, the bottom line is, if you like his tax cuts, which may be on the verge of being extended, should the U.S. Congress pass the bill this week,
you know, they sort of just take it together. But as a trade matter, this has been very, very rocky and very frustrating to many business owners.
NEWTON: Yes. And as you point out, as they continue to wait for the legislative action on Capitol Hill as well.
Jeff Zeleny, grateful to you. Appreciate it.
Now, as we were just saying, the U.S. Senate is holding that marathon vote on President Trump's sweeping domestic policy bill. Lawmakers are offering
changes to the so-called, in the President's words here Big, Beautiful Bill.
Now, this is known as a vote-a-rama. The bill expands on Mr. Trump's first term tax cuts, but also phases out clean energy tax credits. It cuts
spending on programs like Medicaid and food stamps, while boosting funds for the military and border enforcement. Congress estimates the bill would
add trillions to that federal deficit.
Annie Grayer is on Capitol Hill and has been following all of this for us. It is hard to kind of get the real time action to understand exactly where
we are. I know now that there are some GOP senators that are voting against some of the amendments. Where are we? And is this -- should we do the
baseball analogy? The football analogy? Where are we here?
ANNIE GRAYER, CNN CAPITOL HILL REPORTER: Well, using the football analogy, I mean, I don't even think we are at the 50-yard line yet. We still have
hours to go, but we are learning a lot through these amendment votes, which is that there are Republican senators who still have issues with the
contents of this bill, specifically when it comes to Medicaid cuts. So we've seen Republican Senators Lisa Murkowski and Susan Collins joined
Democrats on some of their amendments to make adjustments to those Medicaid cuts and even those amendment votes haven't passed.
It just shows that Republican leaders still have a lot of work to do in terms of shoring up support for this bill, because, remember, Republicans
can only lose three senators -- Republican senators on this vote. They have already lost Republican Senator Thom Tillis, who announced he was retiring
the day after he voted against this bill because he said he couldn't sell the Medicaid cut backs home to his state of North Carolina.
You also have Republican Senator Rand Paul, who is against this bill for different reasons. He doesn't support the debt limit being attached to this
massive legislation. So while we are seeing senators voting around the clock right now in the floor, activity is very busy with that, the
Republican leaders are also working behind-the-scenes trying to nail down the support here because they are trying to work against the clock.
Trump wants this. President Trump wants this on his desk by July 4th. When and if this passes the Senate, it still has to go back to the House where a
lot of House lawmakers have a lot of issues with the version that is being debated in the Senate right now.
So there is still a lot up in the air here. There is a lot of time of amendment votes left and a lot of questions around some of those more
moderate senators that I pointed out about where they are ultimately going to fall on this bill.
NEWTON: And Annie, you know, the White House continues to say that the President is the best negotiator in the world. Do you think some of this is
performative? Like some of the GOP senators just trying to really get some negotiating points in there at the last minute? Or do you think this could
be in jeopardy?
GRAYER: Well, as we've seen time and time again, the Republicans have made a big stink and had a lot of concerns and ultimately fallen in line
multiple times around this legislation as the procedural steps have made its way through Congress.
So if history is any indication here, there is a lot of indication that Republicans will ultimately support this. But how they get there is a huge
question, because, you know, President Trump has made this his signature piece of legislation of this term. So Republicans have a lot to weigh here
if they are to vote against this bill, because Trump is known to immediately post on Truth Social and, you know, make all sorts of primary
threats for those who are considering voting against the bill.
So there is a lot that Republicans -- political calculations that Republicans have to consider here. We don't know how this is ultimately
going to end up and that is why we are continuing to watch this extremely closely.
NEWTON: Yes. It is true that the President is at times very transparent about how things are going. So we are best to watch his words on Truth
Social or otherwise.
Annie Grayer for us from Capitol Hill. Appreciate it.
[16:10:10]
Now President Trump says he has finally found a buyer for TikTok, but that he won't reveal who it is for another two weeks.
Now on Sunday, the President told Fox News that the buyer is of a group of, in his words, very wealthy people. Mr. Trump did say, however, that he
needs China to approve the deal. A law banning TikTok in the United States unless it was sold, went into effect months ago. President Trump has signed
orders delaying enforcement of that now three times.
Investor Kevin O'Leary has previously expressed interest in buying TikTok. He joins me now.
Okay, spill the beans. Whatever you have, we want to hear it. we are going to assume you're not part of this deal. Can we assume that, yes or no,
Kevin?
KEVIN O'LEARY, CHAIRMAN, O'LEARY VENTURES: I don't think you can assume anything about TikTok right now because Xi has not decided yet to sell it,
we all know that, only he and Trump can work that out.
The problem with the deal -- there are two major buying groups. I am one of them and the other is led by Oracle and some of the existing shareholders
and they are good, good American investors and they have a big piece of ByteDance.
We are all stuck with this algorithm problem because Senator Cotton, Rick Scott of Florida and others have made it clear to us that there is a law,
they helped make this law and then the supreme court ruled nine to zero in favor of the law. We just can't use the algorithm.
And so my sense of this deal and I don't know this, but -- and I think the President is wise to keep this narrative going because I am an advocate of
this bill, you know, as is Alexis from, you know, Reddit and he and I have been talking about this, that the guy that formed Reddit is like Mr.
Internet. We've been talking about this for a long time.
How do we solve this problem so that we can build a TikTok America without China? And here is the thing that we should think about from a policy
perspective and it is coming to the fore now.
When we say that we are not going to sell technology to China and we are going to ship, you know, like, for example, an AMD chip or an Amazon chip
or NVIDIA chip or whatever it is, they're going to replace it with their chip, and they're going to have all of these Chinese engineers writing
code. And so the analogy, I want to express to you, which I think is very relevant here, is when you create technology in America and the whole world
falls behind it, you're creating the Queen Bee. You create -- the NVIDIA chip is the Queen Bee. You send it out and all the bees that are
programmers around the bee, the Queen Bee, make the code, Chinese code.
But my point is, it is Chinese honey running TikTok, and we've got to get the Chinese honey out of there because the bees make the honey. That's the
programming, that honey is what is running TikTok.
NEWTON: Okay, Kevin, but I am still a little confused and you're talking about Alexis Ohanian, who is the founder of Reddit and who is a very
prolific entrepreneur.
So just to get back to this, do you think this purchase would involve him or any other investor that you've spoken to?
But I do want to get back to the issue of the algorithm, because you say, look the thing that makes TikTok tick is not going to be included in this
deal.
O'LEARY: We can change it with American honey. We can do it. We can rewrite that algorithm.
We can do it.
NEWTON: Okay, but Kevin, there are people on TikTok right now, they want to know, is my TikTok going to be the same in six months as it is right now?
O'LEARY: I say to everybody on TikTok and particularly all of those six plus million businesses, I am their advocate. I have your back. We will
rewrite that algorithm and make it better for you. And on top of that, you'll own your data when this is over. It will be better. It will be
compliant with U.S. law.
Cotton made it clear to me, Senator Cotton said there is no way on earth that algorithm is coming into this American deal. Get over it. I heard him
loud and clear. I got it, I heard him.
And so, you know, Alex and I are talking about it. Between the two of us, he is Mr. Internet, I am Mr. Small Business, we know every program in
America. We can solve this problem. We have to form some kind of a union with the other buying groups, we are not bidding against each other.
I don't know what this looks like. I have no idea. But you're asking me what is going to happen? We have until the middle of September to solve
this problem, but I guarantee you, there is no way on earth, even if the chief sells it, there is any Chinese honey in this deal. Zero Chinese
honey.
NEWTON: Okay, I want to get on to another issue. But just to be clear, you might still be involved in a TikTok deal or you're out? You have no idea
what the President is talking about.
O'LEARY: Yes. I am right there. I am a hundred percent there. I've worked so hard on this since the beginning. Everybody knows that. But I am an
advocate -- all of my companies, the majority of our digital spend this week, last Tuesday when we allocated our digital spend is to TikTok.
[16:15:10]
It is the best way to get customer acquisition. Like, you know, that is the lowest cost --
NEWTON: But you're making you have to have the algorithm, so without the algorithm, you're saying you don't --
O'LEARY: No, I don't want the algorithm. I want nothing to do with the algorithm. I am going to rewrite the algorithm. I have not -- I want
nothing to do with Chinese honey. Nothing. Because Cotton told me zero Chinese honey. Zero.
NEWTON: Okay, so I need to get you on the record on this. So if President Trump announces a deal within two weeks and Xi approves it, you are part of
the deal. You could still be part of the deal? Or you're not part of this deal?
O'LEARY: No. No one knows who is in this deal. Nobody knows who is in the deal yet.
NEWTON: Well, you know, if you're in or not.
O'LEARY: I want to be in as everybody wants to be in. But Xi has not decided if he is selling it yet. That's really between the President --
only he can cut a deal with Xi. This is a company that has a -- so only he can decide, and once he decides and he tells us, then I know with certainty
Congress will not allow the Chinese honey in the deal. That's where I come in. I don't have any Chinese honey.
NEWTON: Okay, Kevin, before you go, because you are in Canada there. Listen, the White House said just a few hours ago that on the digital
services tax, that Canada caved. Did it in your estimation? But what I also want to know from you is, do you think this is a strong negotiating for
Canada or any other ally? Because right now it seems to me the United States has the gun to everybody's head, and they're going to have to really
play, you know, play the way the White House wants it to go, that they don't really have a lot of leverage here, given the timelines that the
White House has set out.
O'LEARY: I am an investor. I am a pragmatic person. I have not invested in Canada ever since the idiot king took power nine years ago, Trudeau. But we
don't have an idiot king anymore. We have a new pragmatic prime minister. I didn't vote for him, but I am watching what he is doing, and I think he is
doing a good job.
Remember, I've said this countless times. Canada is unique to the U.S. -- common borders, same geography. Canada, precious metals, rare earth, water,
unlimited gas, unlimited oil. Largest market on earth, United States.
This tiff, which Carney, the new prime minister, is trying to navigate and he is not the idiot king. The trouble he has got is the idiot king cut off
all growth in revenues in Canada and impoverish the Canadian people and they kicked him out. But there is no new projects going because he
decimated them. So no new oil, no new gas, no new precious metals, no new rare earth.
But Carney can light that up again and the U.S. needs those. So in the back rooms right now, as you and I speak, the reason Carney gave up this, you
can't replace what revenues Canada could have made if the idiot king had developed those revenues on rare resources with taxing American tech.
That's a bad policy. It was brought out in 2019. It is a bad policy now.
Carney is not the idiot king. He figured it out before midnight last night. He killed it, and now he is negotiating a deal. I think we've got to join
these unions.
And I want to tell you something I haven't said to anybody in a long time. I am running around the world saying, hey, this new guy in Canada is
opening it up. They have unlimited power, unlimited everything, and they have everything you need for A.I. and data centers. Why don't we go check
that out? And that is what I am doing.
I am going back to Canada, notably Alberta first, because that's where they have all the power and I am walking in there saying, hey, I am back, let's
invest. And I am bringing all my compadres from around the world with me if this Carney guy can deliver the policy.
If he can deliver the policy -- if we did -- we didn't do business with the idiot king because he didn't believe in any of this. The idiot king is
gone. Carney is here. Let's do business.
NEWTON: Well and let's see if that deal will come to fruition. Kevin O'Leary, it is Canada Day tomorrow. You are in Canada. Happy Canada Day to
you. But why don't -- since you won't do it on -- you do it on social media, but you want to stand up and show everyone what you're wearing
underneath your suit because it is Canada Day. Something tells me you do not have suit pants -- go a little bit higher. You've got to at least give
a leg.
O'LEARY: I have -- I have no pants on. I have no pants on.
NEWTON: So there I caught you. See, you're the one who posted on social media.
O'LEARY: Just so you know, I wore them for you especially. They're Vietnamese, pure silk fishing pants. Very package friendly.
NEWTON: As I said, Happy Canada Day, Kevin O'Leary. We will continue to keep in touch with you on TikTok trade and everything else. Appreciate it.
Thanks so much.
O'LEARY: You got it. Thanks.
NEWTON: Now, for many people, renewable energy is the future, a way to mitigate climate change and help the planet but new provisions in President
Trump's big, beautiful bill could crush the industry. Details on the changes and what they could mean for the environment. That's next.
(COMMERCIAL BREAK)
[16:22:37]
NEWTON: The White House is deciding whether to permit a first of its kind mining project at the bottom of the Pacific Ocean. Now, it follows an
executive order signed by President Trump. This is way back in April aimed at jumpstarting the deep sea mining industry.
Spearheading these efforts, The Metals Company, its shares have in fact soared more than 75 percent since the executive order was signed. The
company aims to mine minerals critical for batteries and other green technologies from the Clarion-Clipperton Zone.
Now this is where it gets interesting. It is part of the Pacific Ocean with potentially billions of dollars' worth of minerals. Critics, though, warn
that doing so could cause irreparable environmental damage.
Gerard Barron is the CEO of The Metals Company, and he joins us now.
And I thank you for taking another crack at this. We had breaking news the last time we tried to interview. So thank you for having us back. And I do
want you to give us a primer on this, on what your company is trying to do and why you believe it is both necessary and achievable, you know, keeping
an eye on the fact that many are skeptical that this is needed and that environmentally, it won't be dangerous.
GERARD BARRON, CEO, THE METALS COMPANY: Thanks, Paula.
Well, so we are focused on picking up these polymetallic nodules from the Abyssal Plains in the Pacific Ocean. And if we think about our planet, 70
percent of it is known to be covered by the oceans. And we don't take any metals from the oceans today.
And so it makes sense if we apply first principle thinking that we should carry out extractive industries in parts of the planet where there is the
least life instead of the most life.
And if we look at what is happening on land today, we are continuing to push into some of the most pristine, biodiverse habitats known as our
tropical rainforest, yet we have trillions and trillions of dollars' worth of these polymetallic nodules. It is estimated there is more than 20
billion tons of them, and they're full of nickel and copper and cobalt and manganese, and they sit in the Abyssal Plains.
Now, half of our entire planet is categorized as the Abyssal Plain. There is no alternative use for it. You can't grow crops there. You can't live
there, and there is no one living within a thousand miles of it. So it is the perfect place to have a very large, abundant resource.
And The Metals Company, for the last 14 years has been focused on carrying out the environmental studies to understand what the impacts will be of us
picking up these rocks and turning them into metals.
[16:25:07]
And in 2022, we ran commercial trials where we showed how we pick up these rocks using our robots on the seafloor. We also did extensive environmental
studies during those campaigns. And then we went back a year later to see what the recoveries were like.
And the good news is, the recoveries are really, really fast. And the rocks literally sit on the ocean floor so we don't have to drill or dig to get to
them, we just have to pick them up.
And we all know the geopolitics of the moment are very focused on critical minerals. And so it is a given that we need to get more of them, and it
only makes sense that we should be going to the Abyssal Plains in the middle of the Pacific Ocean to pick up these rocks.
NEWTON: Certainly, it makes sense to you. I would say that the if we want to just deal with the technology and the timelines first, this is still
very unproven. Why do you believe it will succeed and why do you believe it will succeed in a timely fashion?
I mean, 10 years ago we didn't have -- there is a lot of technology we couldn't see coming. If it is going to take you ten, fifteen, twenty-year
timeline, what is proven about this and why is it even worthwhile?
BARRON: Well, if we go back to the 1970s, this industry almost got started. America was leading the industry and there were many consortia picking up
these very same rocks. And in the 1970s, they were real pioneers. And so, of course, the industry then came to a slow down, and it is only now since
The Metals Company has really been pushing the industry forward since 2011, and in 2022, we went and showed how technology has advanced, because, of
course, what has happened in that 50-year period is offshore oil and gas and pipe laying, and cable laying has advanced enormously.
So it is more about technology integration, to be honest. And so there is no big technology risk in picking them up. And of course, we've also shown
how we move them to shore and turn them into the critical minerals that are inside them. We have done all of that pilot work now.
And to begin with, there are existing processing plants that we can utilize to process these nodules. But of course, the big opportunity is to rebuild
that infrastructure in the United States. And of course, President Trump is very focused on re-industrialization. And there is a great saying, if it
ain't grown, its mine. And so critical minerals are going to be needed and we are going to need billions of tons more of them. The question for
society is where should we be getting them from?
And surely we should be getting them from places where the impacts on people and the environment is less.
NEWTON: And Mr. Barron, to that point, I do want to say that the President is actually in the Oval Office right now. He is supposed to be signing an
executive order that will actually make investment in that energy infrastructure much simpler.
Still, though, so many people are wondering what the cost will be of this from an environmental point of view, given all the damage we've already
done, as you know on land, never mind at sea. And I ask you that I believe that you know, so many -- so much of what you're about to mine is kind of
beyond national jurisdiction. Right? It is in international waters.
You know, the International Seabed Authority, the ISA has been abandoned by the trump administration and apparently it is not something that you're
going to adhere to either. Please correct me if I am wrong about that.
BARRON: So we are working with the International Seabed Authority. It was set up in 1994 with the expressed purpose of putting in place regulations
to allow the exploration and extraction, mining of these metals. Now, of course, they haven't delivered on that promise.
And so in March, we announced that we were going to go through the permitting pathway of the United States. And of course, no nation has
sovereignty over the oceans.
And so all nations have access to the minerals on the sea floor. They have freedom of passage. They have the ability to lay cables. A number of
nations, in fact, now 169 of them did sign the treaty, now known as UNCLOS, that agreed on how they would handle minerals that lay on the sea floor,
but America did not sign. In fact, it has been a consistent objector to that treaty.
And so America has full legal right to be able to go and collect these metals.
NEWTON: Understood.
BARRON: And of course, they also have the regulations.
NEWTON: And we do understand that that's the way -- that's the direction that President Trump wants to go in. I do have to leave it there. Gerard
Barron, we will continue to check in, though with your company. Appreciate it.
BARRON: Thanks, Paula.
NEWTON: Now, Senate Republicans have added language to Donald Trump's giant budget bill that many say would devastate the future of wind and solar
power in the United States.
The provisions would not only repeal federal incentives for renewable energy projects. But here is the thing, they would also impose punitive
taxes on solar panels and wind turbines built with Chinese components.
Clean energy advocates say those changes would effectively kill the industry.
[16:30:14]
For more, I want to bring in CNN's chief climate correspondent, Bill Weir. So grateful to have you here. As we start to hear more about what is in
this bill, in your estimation, what's behind this? Because cutting subsidies, as we've just outlined, is one thing, penalizing the industry is
a different matter altogether.
BILL WEIR, CNN CHIEF CLIMATE CORRESPONDENT: Yes. I mean, the only explanation is really vengeance because it makes no economic sense. This
language was inserted in the middle of the night, and so everybody in industry was looking at this language saying, what is happening. It was
written so haphazardly. There's big fears it'll destabilize more than just these industries.
But the best analogy I heard is imagine if when Henry Ford's Model Ts were just starting to crank off of the assembly lines in Detroit. President Taft
had murdered that industry with taxes and subsidized horses. This is -- there's subsidies now in this new bill for coal.
And meanwhile, cutting off emergent battery technology in places like Georgia and Texas. And there was a lot of thinking that because the
Inflation Reduction Act was embedded intentionally into bright red republic districts where people would see the fruits of this and see what clean
energy could mean. Economically, it would be hard to rip out, but this new bill rips it out, root and branch and then just salts the earth behind it.
Meanwhile, the rest of the world is embracing these technologies. So, it is astounding what this would do to an industry now that is coddling in energy
sources, which are the cheapest in human history, which ultimately will punish those Republican districts.
For example, the electricity bill in Oklahoma could go up $845 a year if this passes. That's just pocketbook issues, without even talking about the
climate implications of going the other way.
NEWTON: You know, and what you're talking about, though, is a transformation, really, America's adoption of new technologies are at stake
here. China is mentioned. I think the GOP would say, well, we can't have this cheap technology coming in from China. Do you think that's what is at
the heart of this?
WEIR: Well, there's a lot of that going on with that trade war as well, but just near term. Just think about near term. Both Elon Musk and the North
American Building Trade Union agree that this is a massive job killer, hundreds of thousands of jobs. These are already green lit big projects
that were underway across the country.
You not only kill that, but you want to compete with China trying to build A.I. server farms that are the most powerful ever run, and you're going to
run those on 18th century tech fuels? In a while meanwhile, China is going all in on all of the above, nuclear fusion to solar and all of that, while
winding down their coal because they see the future.
But they see the future in places like Texas, which is the greenest state in the country, because a factory realizes, hey, if we have energy that
delivers itself to us in the form of wind or sun, we can store it in batteries. Doesn't matter if there's a war in Ukraine or the Middle East,
we're truly energy independent. And that's what's at risk here, all of the environmental concerns aside.
NEWTON: You know, Bill, I have to ask you, we just heard about how the Trump administration is going to encourage all kinds of exploration and
rare earth minerals.
I mean, he's in the Oval Office right now, making it easier in order to get any regulatory approval for energy infrastructure. Does it mean, really,
this is game on in the United States for exploration of any kind, the Arctic, the ocean? I mean, we just had the CEO from The Metals Company say,
yes, we're going with the United States, because they're going to let us basically.
WEIR: Yes, I mean, but what's ironic about that is the demand for precious metals now, as a result of this, will go down, the stuff that Gerard Barron
wants to chase down, literally, to the bottoms of the ocean, which there's a lot of skepticism that that can even be done technologically at those
depths. Everything breaks at those depths.
But now the only countries that are going to want that stuff is China and Europe and the rest of the world that is electrifying in these ways.
So, there's so many different mixed messages. Yes, there's an insatiable thirst for energy right now. You know, there was one before humanity
invented Bitcoin and A.I., but these are now, if you look at the charts, the cheapest and most abundant and fastest growing forms of energy, solar
and wind, clean energy accounted for 90 percent of new utility grade installations, not just in the U.S. but globally.
So, this is -- this is where humanity -- you know, we're not going back to burning whales to light our homework. You know, kerosene lamps are charming
if you want to use them in an antique and set the mood.
But this is as to go back to your first question, it just feels from everybody in industry that this is just punitive and not President Trump
and the Republicans who are seemingly afraid of him in these districts that can really benefit from this, they're seeing not only favors to the oil and
gas interests, but just punishment for anybody else who comes along. It's astounding.
[16:35:08]
NEWTON: Bill, we're grateful to you to sum it all up as we continue to watch this vote on the Senate floor. Thanks so much. Appreciate it.
Now, still to come for us, two firefighters were shot dead while responding to a brush fire in the U.S. State of Idaho. We will have details on who the
gunman was.
(COMMERCIAL BREAK)
NEWTON: Hello, I'm Paula Newton, and there's more QUEST MEANS BUSINESS in a moment.
When two firefighters who were shot dead in the U.S. state of Idaho after responding to a brush fire. And with summer just underway, Europe already
in the midst of a scorching heat wave.
Before that, though, the headlines this hour, the U.S. Senate is inching toward a vote on President Trump's big, beautiful bill, which would advance
much of his domestic agenda. Lawmakers are offering changes in what's known as a vote-a-rama, the bill would extend Mr. Trump's first term tax cuts. It
also slashes spending on the social safety net.
Jurors have been deliberating for a few hours in the Sean Diddy Combs sex trafficking and racketeering trial, the judge replied to the jury over its
concern over one juror they said couldn't follow instructions. He told them to all remember their obligation, to follow his instruction on the law and
asked them to continue deliberating.
And a major heat wave is scorching parts of Europe, temperatures are pushing 40 degrees Celsius, or 104 degrees Fahrenheit. Wildfires have
broken out in Greece and France, with other countries like Spain on alert. Conditions are expected to continue until this weekend.
The two firefighters were shot dead while responding to a brush fire in the U.S. state of Idaho. Authorities identified the gunman as Wess Roley. Now
they say he intentionally started the blaze on Sunday to lure the firefighters in, then opened fire on them. The 20 year old was found dead
at the scene, the police lined the streets to honor the slain firefighters as a procession carrying their bodies passed by. You see it there.
[16:40:19]
CNN's Julia Vargas Jones is in Hayden, Idaho for us. And Julia, really grateful to have you on the ground. Such a tragic event. It's kind of
difficult to really see that procession there, wondering the terror that ensued, and obviously the loss of life. I think everyone's wondering, what
was the motive here? I mean, what have officials said?
JULIA VARGAS JONES, CNN CORRESPONDENT: That is the one question that they are working on right now, Paula, that is what they said.
Yesterday at the press conference, that they wanted to get to the motive, the why here, its clear intention. They've said multiple times that this
was an ambush, a very clear attempt to get firefighters, first responders, to his location with that fire. And then, like what they said, that it
seemed like multiple locations were shooting at them at once.
In the end, it was just one lone gunman in that very wooded area. We've been around there all day today, it's still very much smoky. The fire is
very much ongoing, but quite chilling to be in the location where those people lost their lives.
The chaos of that moment, though, that's what I want to play for you, just listening to the calls that firefighters put into their dispatch as they
were taking in gunfire.
(BEGIN VIDEO CLIP)
UNIDENTIFIED MALE: Send law enforcement right now, there's an active shooter zone. They're shot. BC three is down. BC one is down. Everybody's
shot up here. Law enforcement code three now up here.
We've got two unresponsive battalion chiefs, gunshot wounds, multiple gunshot wounds, two Coeur d'Alene firefighters are down. We law enforcement
to get up here.
We could possibly get the two wounded out. I'm pinned down behind Battalion One's rig. It's clear to me that this fire was intentionally to draw us in.
(END VIDEO CLIP)
VARGAS JONES: And Paula, unimaginable, right, what those firefighters went through. We spoke with another firefighter today, who said he still has not
been able to listen to that audio from those calls. It's just too chilling.
But we are here right now outside the Sheriff's Department, we are expecting an update on the investigations on that motive. Today is when
investigators were going to get back up on that side of the mountain where they use cell phone tower information to find that gunman here in Coeur
d'Alene, we're just outside Coeur d'Alene right now. They are expected to give us an update on that, and then later on, we're expecting to hear on
the identity of these two firefighters as well, who gave their lives on the line of duty.
And you know, we have also spoken to some members of this community that has been mobilizing. As the response is still ongoing, you know, that fire
is now from 15 to 20 to 26 acres as of the last count, still going, still being fought. We're listening here. We can hear still some aircraft going
around, still very much an active scene, and people have been mobilizing to bring water and supplies to those first responders, showing very clearly
that they are appreciated here in Idaho.
NEWTON: Yes, I mean so much to go through in that community. You're already dealing with the trauma of what happened, but then you have this wildfire
on the scene, and not to mention the reminder that first responders really do risk their lives every time they attend to one of these events.
Julia Vargas Jones, I know we'll have an update in the coming hours from law enforcement and grateful you're there on the ground. Appreciate it.
Now, across Europe, creatures great and small looking for ways to try and beat the heat as the continent struggles through a scorching early summer
heat wave. We are live in a steamy Spain, that's next on QUEST MEANS BUSINESS.
(COMMERCIAL BREAK)
[16:46:40]
NEWTON: Nigeria is Africa's most populous nation, known more for its vibrant culture and crude oil production than for its wildlife, but it's
also home to several iconic species.
Today, on Call to Earth, we meet a woman who is working to protect some of the country's most threatened primate populations and their forest
habitats.
(CALL TO EARTH)
[16:50:50]
NEWTON: Let us know what you're doing to answer the call with the #CalltoEarth.
(COMMERCIAL BREAK)
NEWTON: Just 10 days into summer in Europe already in the midst of a scorching heat wave, at least 20 countries are under heat alerts, with
temperatures soaring above 42 degrees Celsius in some areas, that's 107 degrees Fahrenheit.
Now, a heat dome stretches all the way from France to Turkey, and forecasters say the sweltering weather will last for several days before
rain brings possible relief later this week.
Now, temperatures are taking a toll at Wimbledon, with tennis fans sweating in their seats, and the tournament sees its hottest ever start today in
nearly 30 degrees Celsius.
Al Goodman joins me now live from Madrid. You are bearing, I guess, with some nighttime heat as well. Good to see you, Al, it's been a minute.
Now, look, we have to remind people, this isn't just trivia. It's not weather trivia. Some of this heat can be very dangerous.
AL GOODMAN, CNN CORRESPONDENT: That's right, Paula, these extreme temperatures are usually seen in July and August, but here they are at the
end June. There -- it's the end of June, that's true, but it's the last several days of June that these extreme temperatures have come, and that is
causing problems, and that also means that there's a change.
So, these extreme temperatures are bringing a lot of challenges across southern Europe, and yes, safety is one of them. Here's our report:
(BEGIN VIDEOTAPE)
GOODMAN (voice over): Apocalyptic scenes in Izmir, Turkey, as wildfires forced residents to flee for their lives. Aid workers carried an elderly
man to safety just moments before flames swallowed his home, a harrowing escape in searing summer heat.
[16:55:11]
Outside Madrid, firefighters battled a late night blaze, another front in a heat wave stretching from Greece to Spain and beyond.
Across Europe, an early and unforgiving summer scorcher is gripping the continent. In parts of Spain, official temperatures soared above 46 degrees
Celsius, well over 114 degrees Fahrenheit, leaving people and animals alike scrambling for any patch of shade or drop of water.
GOODMAN (on camera): Spain's national weather agency says it's the hottest June since records began 60 years ago. The afternoon sun is piercing, and
overnight, the temperatures don't fall enough to really cool things down.
GOODMAN (voice over): In Seville, residents say it felt like the city itself was melting.
UNIDENTIFIED MALE (through translator): It's awful. It makes me collapse. We need to look for shade constantly, air conditioning, if we have it, and
these devices keep ringing with heat warnings.
UNIDENTIFIED FEMALE (through translator): I feel terrible about it. I can't sleep well and have insomnia. I also get heat strokes. I stop eating and I
just can't focus.
GOODMAN (voice over): Some found refuge at the beach. Others trudged on to visit Europe's monuments despite the stifling heat.
In Athens, the government opened air conditioned community centers and set up hotlines for medical help as the mercury climbed relentlessly.
In Hungary, even the elephants at the Budapest Zoo needed cold showers to stay cool with temperatures nearing 39 degrees Celsius.
UNIDENTIFIED FEMALE: It's a hot day, going to need it.
GOODMAN (voice over): And in Britain, a country hardly known for sizzling summers, tennis fans at Wimbledon braved unusually high temperatures on
opening day. Scientists warned that human induced climate change is fueling these extreme heat events, making them more frequent, more intense and
harder to predict.
And with the heat showing no sign of letting up, Europe braces for more scorching days ahead and with them, the very real threat of new extremes.
(END VIDEOTAPE)
GOODMAN (on camera): Paula, the new extremes are prompting officials here in Spain, in Italy and some of these other countries to try to come up with
action plans to protect their citizens, including their outdoor workers, the idea being to get them to get as much information as possible out to
the citizenry about what these extreme temperatures can do. They are no joke, as you mentioned here at the beginning of our conversation.
And so, people have been dying. There was a city worker in Barcelona who died on Saturday after her shift, a 51-year-old woman who was a street
cleaner. They're taking a look at all these kinds of things. It's not just drinking a lot of fluids, even if you're not thirsty, it's a whole series
of other measures. And the Spanish government and others are trying to get that information out to the people, Paula.
NEWTON: Such a good point. Al Goodman for us. Thanks so much.
And that is QUEST MEANS BUSINESS. I'm Paula Newton. THE LEAD with Jake Tapper is next.
(COMMERCIAL BREAK)
END
