Morning Wire Episode Summary: "Johnson Wins Speaker Vote & Biden Blocks US Steel Sale | Afternoon Update | 1.3.25"

Release Date: January 3, 2025

Hosts: John Bickley & Georgia Howe

In the latest episode of Morning Wire, hosts John Bickley and Georgia Howe provide a comprehensive afternoon update covering pivotal developments in U.S. politics, economic trends, international security, and cultural news. This detailed summary encapsulates the key discussions, insights, and conclusions drawn during the episode.

1. Mike Johnson Secures Speaker of the House Position

Georgia Howe opens the episode by announcing the successful re-election of Mike Johnson as Speaker of the House.

"Mike Johnson will remain speaker of the House. He secured his position Friday on the first ballot after some conservatives expressed reservations about reelecting the speaker." [00:02]

Johnson's victory was significantly aided by the pivotal support of two Republicans, Ralph Norman of South Carolina and Keith Self of Texas, who initially had reservations but ultimately backed Johnson. This consolidation of support ensures Johnson can effectively advance President Donald Trump’s agenda, focusing on priorities such as border security and federal regulation cuts.

2. President Biden Blocks U.S. Steel Sale to Japan

Transitioning to economic policy, Georgia Howe introduces the segment on President Joe Biden’s blocking of a $14 billion sale of U.S. steel to Japan’s Nippon Steel, with insights from Daily Wire senior editor Cabot Phillips.

"President Joe Biden blocked the $14 billion sale, citing national security concerns." [00:48]

President-elect Trump had previously vowed to prevent such deals, emphasizing the importance of keeping U.S. steel production domestic. The decision aligns with the stance of prominent Republican senators like J.D. Vance, Josh Hawley, and Marco Rubio, who argue that foreign ownership could jeopardize critical American infrastructure. The immediate impact saw U.S. steel shares drop by 8%, and the move has elicited mixed reactions from labor unions, potentially straining U.S.-Japan relations.

3. Resurgence of the Islamic State in Syria

Tim Pierce reports on the rising activity of the Islamic State (ISIS) in Syria following the collapse of Bashar al-Assad’s regime.

"The Islamic State has seized weapons abandoned by the Syrian army to bolster its efforts to regain influence amid the country's instability." [01:33]

As ISIS attempts to regain a foothold, the U.S., France, and Kurdish militias have ramped up airstrikes against their targets. Meanwhile, Turkey is supporting the Islamist group Hayat Tahrir al Sham, creating a complex geopolitical landscape. The power vacuum raises significant concerns about the security of detention camps harboring ISIS militants and their families, with Iraqi officials urging the U.S. to reconsider its withdrawal plans to mitigate emerging threats.

4. Sharp Decline in Mortgage Applications

John Bickley discusses the notable drop in mortgage applications towards the end of December, with detailed analysis from Daily Wire senior editor Ash Short.

"The Mortgage Bankers Association reported a 21.9% decline in total mortgage applications for the last two weeks of December." [02:08]

Ash Short attributes this decline to soaring interest rates, with the 30-year fixed rate nearing 7%. Additionally, increased home inventory and elevated prices are deterring potential buyers. Refinance applications fell by 36%, and purchase applications decreased by 13%, marking a significant downturn not seen in over a decade.

5. Tesla’s Decline in Vehicle Deliveries

Tim Pierce highlights a rare dip in Tesla’s global vehicle deliveries, the first in over ten years.

"Tesla's global vehicle deliveries declined by 1%. The EV maker delivered 1.79 million vehicles for the year, down from 1.81 million in 2023." [02:37]

Despite achieving a record 495,570 deliveries in the fourth quarter, the annual total fell short of expectations, leading to a 3% drop in Tesla’s stock. Elon Musk had previously warned investors about potential slowdowns due to increased competition and market saturation. Nonetheless, Musk remains optimistic, focusing on future projects like autonomous vehicles and artificial intelligence to drive growth.

6. Major U.S. Banks Exit Climate Initiative

John Bickley covers the withdrawal of several major U.S. banks from a global climate initiative, with reporting by Culture reporter Megan Basham.

"Morgan Stanley, Citigroup, Bank of America, Wells Fargo, and Goldman Sachs have all left the Net Zero banking alliance." [03:30]

The exits coincide with the incoming Trump administration, which is expected to roll back climate-related regulations and scrutinize initiatives perceived as limiting fossil fuel investments. Republican lawmakers have raised concerns that such alliances might violate antitrust laws, intensifying political pressure on financial institutions to disengage from climate-focused consortia.

7. Rudy Giuliani’s Legal Battle Over Yankees Rings

Tim Pierce reports on Rudy Giuliani’s legal efforts to retain his cherished Yankees World Series rings amidst a $148 million defamation verdict.

"Giuliani wants to keep the coveted rings in the family as legal battles strip away his assets." [04:17]

Giuliani argues that the four rings, gifted by Yankees owner George Steinbrenner, are family heirlooms intended for his son, Andrew. Each ring is valued at $27,000. The legal dispute, set for January 16th, will also address Giuliani's Palm Beach condo, which he claims is exempt as his primary residence. This case is part of broader efforts to satisfy the defamation verdict won by two former Georgia election workers over Giuliani's post-2020 election comments.

8. Bernie Sanders Aligns with Trump on Credit Card Interest Rates

In an unexpected political development, Tim Pierce reports that Senator Bernie Sanders is proposing a bill to cap credit card interest rates at 10%, mirroring a commitment made by President-elect Trump.

"Sanders is introducing a bill to cap credit card interest rates at 10%, echoing a campaign promise from the president-elect." [04:56]

This proposal aims to alleviate the burden of rising consumer debt, which has surpassed $1 trillion in credit card balances with average interest rates around 24%. While Trump had pledged a temporary cap, some Republican leaders express concerns about potential impacts on credit availability. Sanders urges Trump to support the legislation to address the financial strain on American consumers.

9. Surgeon General Advocates for Cancer Warnings on Alcohol Labels

John Bickley informs listeners about U.S. Surgeon General Dr. Vivek Murthy’s initiative to mandate cancer warnings on alcoholic beverage labels, similar to those on cigarettes.

"Dr. Vivek Murthy is calling for cancer warnings on alcoholic beverage labels, much like those on cigarettes." [05:29]

Dr. Murthy highlights the connection between alcohol consumption and at least seven types of cancer, including breast, colorectal, and liver cancers. He recommends revising current alcohol consumption guidelines, advocating for reduced intake to improve public health. Implementing these warnings would require congressional action, as federal guidelines currently suggest men limit intake to two drinks per day and women to one.

10. Angelina Jolie and Brad Pitt Finalize Divorce Settlement

Concluding the episode, John Bickley shares news about the finalization of Angelina Jolie and Brad Pitt’s divorce settlement.

"Angelina Jolie and Brad Pitt have finalized their divorce settlement. The couple agreed to keep the details private to protect their family." [05:29]

After nearly eight years of legal disputes over child custody and shared assets, including their French estate and winery, Chateau Miraval, the couple has reached a joint settlement. This agreement ensures privacy to safeguard their six children and resolves ongoing custody issues, bringing closure to their prolonged separation process.

Conclusion

John Bickley wraps up the episode by encouraging listeners to visit dailywire.com for more in-depth reporting on these and other significant stories. He invites the audience to tune into full episodes of Morning Wire for comprehensive coverage of the day's biggest news.

"To learn more about these stories, go to dailywire.com and for more in-depth reporting on the biggest stories of the day, tune in to our full episode of Morning Wire." [06:32]

This episode of Morning Wire offers a thorough overview of critical events shaping the current landscape, providing listeners with insightful analysis and updates on pressing issues across various domains.