Trump Expected to Nominate Marco Rubio for Secretary of State

Summary

WSJ What’s News: "Trump Expected to Nominate Marco Rubio for Secretary of State"

Release Date: November 12, 2024
Host: Luke Vargas
Produced by: The Wall Street Journal

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1. Marco Rubio Poised for Secretary of State Nomination

Timestamp: [00:50]

In a significant political development, President-elect Donald Trump is expected to nominate Florida Senator Marco Rubio as his Secretary of State. This move suggests Trump’s preference for placing a more establishment figure in America’s top diplomatic role. Rubio's potential nomination signals a strategic direction for U.S. foreign policy under the upcoming administration.

Luke Vargas: "President elect Donald Trump is expected to nominate Florida Senator Marco Rubio as Secretary of State, potentially placing a more establishment figure in the role of America's top diplomat."

As of the episode’s release, Rubio had not responded to requests for comment, and it remains possible that Trump could reconsider this nomination.

2. Mike Waltz Targeted for National Security Adviser

Timestamp: [01:53]

Alongside Rubio, Trump is also considering Florida Representative Mike Waltz for the position of White House National Security Adviser. Waltz's appointment could have profound implications for U.S. foreign policy, particularly regarding skepticism of U.S. support for Ukraine and advocating for increased European responsibility within NATO.

Thomas Grove: "They certainly see a lot of overlap in different areas. On China, they seem to both be aligned on being tougher on China."

Both Rubio and Waltz share aligned views on several critical issues, including a tougher stance on China and a recalibrated approach to the Ukraine conflict. Grove emphasizes the need to analyze their specific policy proposals to understand the full impact of their potential appointments.

Thomas Grove: "If Vladimir Putin doesn't come to the table to negotiate, the US could take the brakes off of some of the longer-range weapons that could be used inside Russia."

3. Republican Senate Majority Reinforced by Arizona Victory

Timestamp: [04:41]

In the realm of U.S. politics, Democrat Ruben Gallego's victory over Republican Kerry Lake in Arizona has solidified the Republican Party's control of the Senate, securing a 53-47 majority. This outcome reflects a broader trend where Republicans are outperforming expectations in battleground states, including wins in Michigan, Nevada, and Wisconsin—states that had previously been competitive or leaned Democratic.

Luke Vargas: "Lake's loss was part of a broader trend of Republicans in battleground state Senate races, underperforming Donald Trump as Democrats won races in Michigan, Nevada and Wisconsin."

4. Hamas and Fatah Forge Plan for Gaza’s Post-War Recovery

Timestamp: [05:16]

In Middle Eastern affairs, long-standing rivals Hamas and Fatah have agreed on a joint plan to oversee aid distribution and the reconstruction of Gaza. This reconciliation marks a critical step toward stabilizing the region following the recent conflict, where both factions have been significantly weakened.

Thomas Grove: "Both sides are very weakened and they are talking together to try to find an understanding."

The plan involves the creation of a Palestinian committee composed of independent Palestinians to manage humanitarian efforts, aiming to avoid direct control by either Hamas or Fatah, which could complicate international aid and sanctions.

Thomas Grove: "The idea is that it's known that the international committee wouldn't accept Hamas to run humanitarian affairs there."

5. ExxonMobil CEO Advocates for Continued U.S. Participation in Paris Agreement

Timestamp: [07:42]

ExxonMobil CEO Darren Woods has publicly urged President-elect Donald Trump to keep the United States in the Paris Climate Agreement. Woods argues that exiting the agreement would introduce significant uncertainty for businesses and hinder international efforts to combat climate change.

Darren Woods: "Trump should keep the US in the Paris climate agreement."

This advocacy comes amid broader discussions at the COP 29 climate summit in Baku, Azerbaijan, where leaders are debating the effectiveness of limiting fossil fuel supplies versus promoting green energy alternatives.

John Podesta: "Yesterday In January we're going to inaugurate a president whose relationship to climate change is captured by the words hoax and fossil fuels... we should believe him."

6. Shell Wins Appeal Against Emission Reduction Ruling

Timestamp: [08:41]

In environmental legal news, Shell has successfully appealed a Dutch court ruling that mandated a 45% reduction in carbon emissions by 2030 from 2019 levels. The Dutch arm of Friends of the Earth criticized the appellate decision as a "shocking setback," though it remains uncertain if further appeals will be pursued.

Shell's Chief Executive, Weil Sawan: "The company believed the court's decision was the right one for the global energy transition."

The ruling's impact on Shell's operations and its commitment to the global energy transition remains a topic of keen interest among environmental stakeholders and investors.

7. Market Movements and Other Business News

Timestamp: [09:01]

a. SoftBank Returns to Profitability

SoftBank reported a net profit of approximately $7.7 billion for the three months ending in September, reversing a net loss from the previous year driven by losses in its WeWorks investment.

b. Cryptocurrency Surge

Bitcoin continues its upward trajectory, briefly surpassing $89,000 amid the political developments surrounding Trump’s election victory. Other cryptocurrencies like Ethereum, Solana, and Dogecoin also experienced significant gains.

c. US Airlines Suspend Haiti Flights

Following an incident where a Spirit Airlines plane was reportedly hit by gunfire while attempting to land in Haiti, several U.S. airlines, including Spirit, American Airlines, and JetBlue Airways, have suspended flights to the country. This suspension comes amid escalating violence and instability in Haiti’s capital, Port-au-Prince.

Luke Vargas: "US Airlines are suspending flights to Haiti after a Spirit Airlines plane that took off from Fort Lauderdale, Florida, appeared to be hit by gunfire while attempting to land in the country yesterday."

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Conclusion

The episode of WSJ What’s News provides a comprehensive overview of pivotal political appointments, significant international agreements, market trends, and critical developments in global conflicts. With Marco Rubio potentially stepping into a key diplomatic role and the stabilization efforts in Gaza showing progress, the geopolitical landscape is poised for substantial shifts under the incoming Trump administration. Additionally, corporate and environmental decisions, such as Exxon’s stance on the Paris Agreement and Shell's legal battles, highlight the ongoing tension between business interests and climate responsibilities.

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Notable Quotes:

• Thomas Grove, [01:53]: "They certainly see a lot of overlap in different areas. On China, they seem to both be aligned on being tougher on China."

• Thomas Grove, [02:51]: "If Vladimir Putin doesn't come to the table to negotiate, the US could take the brakes off of some of the longer-range weapons that could be used inside Russia."

• Darren Woods, [07:42]: "Trump should keep the US in the Paris climate agreement."

• John Podesta, [08:41]: "Yesterday In January we're going to inaugurate a president whose relationship to climate change is captured by the words hoax and fossil fuels... we should believe him."

• Weil Sawan, [08:41]: "The company believed the court's decision was the right one for the global energy transition."

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This detailed summary encapsulates the essential discussions and analyses from the WSJ What’s News podcast episode, providing listeners and readers with a coherent and comprehensive understanding of the day's significant news events.

Transcript

[Charles Schwab]

This episode is brought to you by Charles Schwab.

[Luke Vargas]

Decisions made in Washington can affect your portfolio every day. Washington Wise from Charles Schwab is an original podcast that unpacks the stories making news there. [e-mail] Washingtonwise Marco Rubio emerges as Trump's pick for Secretary of State. We'll look at how he could shape US foreign policy. Plus, Republicans lock in a 53 to 47 majority in the US Senate, and rival Palestinian factions craft a plan for Gaza's post war recovery.

[Thomas Grove]

Hamas is largely defeated militarily, the Fatah government is facing a financial crisis. So both sides are very weakened and they are talking together to try to find an understanding.

[Luke Vargas]

It's Tuesday, November 12th. I'm Luke Vargas for the Wall Street Journal and here is the AM Edition of what's news, the top headlines and business stories. Mo World Today we are reporting that President elect Donald Trump is expected to nominate Florida Senator Marco Rubio as Secretary of State, potentially placing a more establishment figure in the role of America's top diplomat spokespeople for the Trump transition. And Rubio didn't immediately respond to requests for comment. And Trump could still change his mind on the move. Meanwhile, Trump has asked Florida Representative Mike Waltz to serve as White House national security adviser, a cabinet level position in which his skepticism for America's support for Ukraine and his calls for Europe to do more to ensure the collective defense of NATO members could have a major bearing on US Foreign policy. And joining me now with more on what Trump's potential picks for top diplomatic and national security roles could tell us, I'm joined by Wall Street Journal correspondent Thomas Grove. Thomas, what's your read on Rubio and.

[Charles Schwab]

Waltz picking them together? You certainly see a lot of overlap in different areas. On China, they seem to both be aligned on being tougher on China. When it comes to Ukraine, they're also quite aligned there as well. Rubio has come from a point of ardent support for Ukraine and I think has changed that position slightly and slowly over the last three years. And what we're seeing now is somebody who wants to see the conflict end as soon as possible. He's criticized US Funding as funding a stalemate. Waltz has some very interesting positions which echo Rubio's for sure. But one of the things that he is proposing is that if Vladimir Putin doesn't come to the table to negotiate, the US could take the brakes off of some of the long, longer range weapons that could be used inside Russia. Having Rubio and Waltz here is certainly going to be a lot tougher on Putin than what Trump is suggesting through his public comments. But I think we have to really dig beyond that and see exactly what they're going to be doing on a policy basis here.

[Luke Vargas]

And finally, Thomas, in terms of what happens between now and Trump's inauguration, we saw over the weekend Ukraine and Russia launching their largest drone attacks yet in the conflict. Russia has also amassed a lot of fresh troops. Ukraine, meanwhile, trying to hold together its electrical grid, not lose too much ground on the front lines. I mean, what are we likely to see between now and mid to late January?

[Charles Schwab]

This is the point at which both sides are going to be putting up the best fight they possibly can. And with Russia, that means probably an imminent offensive in Kursk. That's the territory that Ukrainian troops were able to occupy after a cross border invasion in August. And Russia is also going to try to make a fresh push on various positions on the battleground inside Ukraine. That's mostly in the east. Ukraine, which has a great disadvantage in terms of manpower, will be doing whatever they can. And that means probably a lot of drones. That's one area in which they've really shown that they can do a lot. And this is a point in which the quantity of drones that they've sent across the border is starting to have qualitative effects in various ways.

[Luke Vargas]

Journal correspondent Thomas Grove. Thomas, thanks.

[Charles Schwab]

Thank you so much.

[Luke Vargas]

And before we leave US Politics behind, Democrat Ruben Gallego has defeated Republican Kerry Lake in Arizona's Senate race, putting the final Senate split at 53 Republican seats to Democrats 47. Lake's loss was part of a broader trend of Republicans in battleground state Senate races, underperforming Donald Trump as Democrats won races in Michigan, Nevada and Wisconsin, all states that Trump carried. Coming up, Palestinian rivals Hamas and Fatah edge toward a post war recovery plan in Gaza. And Exxon's CEO says that Trump should keep the US in the Paris climate agreement. We've got those stories and more after the break.

[Benoit Faucon]

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[Luke Vargas]

Long bitter rivals. The two main Palestinian factions, Hamas and Fatah, have come to an agreement on a plan to help oversee aid distribution in Gaza and the eventual rebuilding of the territory. And as Journal correspondent Benoit Faucon told me, key to the deal is that neither group will be in charge for many years.

[Thomas Grove]

Hamas, which is the Islamic faction that runs Gaza, and Fatah, which is a secular faction that runs the west bank, have been at loggerheads. Hamas kicked Fatah out of Gaza in 2007, but now the world has changed. After October 7, Hamas is largely defeated militarily in the West Bank. The Fatah run government is facing a financial crisis, is facing extension of settlements. So both sides are very weakened and they are talking together to try to find an understanding whereby they'll work to set up a Palestinian committee that would be made of independent Palestinians. The idea is that it's known that the international committee wouldn't accept Hamas to run humanitarian affairs there. They'd be worried about sanctions and diversion.

[Luke Vargas]

And Benoit, would this potential plan be acceptable to Israel?

[Thomas Grove]

Well, we know the main focus of Israeli thinking is really to find ways to secure the Gaza Strip. So for instance, through various corridors where they could do fast track interventions rather than kind of the governance and civilian side. What remains to be seen is really what the Trump administration is going to say about this reconciliation, about this independent Gaza committee that's going to be the key and is still the unknown.

[Luke Vargas]

And finally, Benoit, this is coming as aid groups today are reporting that Israel has failed to meet US demands issued 30 days ago to surge more humanitarian aid into Gaza. Would this plan by Hamas and Fatah address that immediate situation in any way?

[Thomas Grove]

Reconciliation is not something that affects humanitarian deliveries immediately. However, no side wants a vacuum here. So at least you have a ready made solution to handle humanitarian deliveries. If there was a ceasefire, and the hope is that will help the notion of ceasefire, because you have a plan that potentially is acceptable for everyone that is not going to be impeded by Hamas, by Fatah, by Israel or the US So the idea is it would help automatically any immediate aftermath of a ceasefire, but for now, for this minute, yes, it's not impacting the situation.

[Luke Vargas]

That was Journal correspondent Benoit Foucault. We are exclusively reporting that ExxonMobil chief executive Darren woods says President elect Donald Trump should not pull the US out of the Paris climate agreement. Telling the Journal that Trump's proposal to exit the international pledge for a second time would create uncertainty. That's unhelpful for business. Trump withdrew the US from the Paris agreement in his first term before Biden rejoined it in 2021. Wood's remarks come as he attends the COP 29 climate summit in Baku, Azerbaijan, where he said that policymakers are becoming more receptive to the idea that limiting fossil fuel supplies and forcing expensive green energy alternatives into the market isn't working. The summit has also been dominated by talk of China taking a greater lead in climate policy ahead of the Trump administration, likely putting the issue on the back burner. Here was US Climate envoy John Podesta.

[John Podesta]

Yesterday In January we're going to inaugurate a president whose relationship to climate change is captured by the words hoax and fossil fuels. He's vowed to dismantle our environmental safeguards and once again withdraw the United States from the Paris agreement. That is what he has said, and we should believe him.

[Luke Vargas]

Oil and gas giant Shell has won an appeal in a Dutch court against a landmark 2021 ruling that said it was partially responsible for climate change and must sharply cut its carbon emissions. At the time, a district court in the Hague ordered the company, which was then based in the Netherlands, to reduce its carbon emissions by 45% by the end of 2030 from 2019 levels. The Dutch arm of environmental group Friends of the Earth, which led the civil suit against Shell, called the decision a shocking setback, but didn't say whether it planned an appeal to the Dutch Supreme Court, which could extend the legal fight for years. Shell's chief executive, Weil Sawan, said the company believed the court's decision was the right one for the global energy transition. Shell's share price is little changed in midday trading and in other news moving markets today. Softbank returned to a net profit in the second quarter, boosted by G, its tech focused Vision funds business. The Japanese investment company said its net profit was about $7.7 billion for the three months ending in September, compared with a net loss a year earlier when its bottom line was dragged by losses related to WeWorks bankruptcy in the U.S. bitcoin's streak of setting new record highs continues, with the cryptocurrency briefly topping $89,000 in early trading today as Trump's election victory continues to reverberate through markets. Ethereum, Solana and Doge Dogecoin, the meme token that Elon Musk likes to promote, have also jumped. And US Airlines are suspending flights to Haiti after a Spirit Airlines plane that took off from Fort Lauderdale, Florida, appeared to be hit by gunfire while attempting to land in the country yesterday. Spirit said it had suspended flights to Haiti until further investigation, and the damaged plane was put out of service after it was diverted to the Dominican Republic. American Airlines and JetBlue Airways said they were canceling their flights to Haiti until at least Thursday. The Spirit Airlines incident came a day after the country's acting prime minister was fired by a ruling council created to restore order. Gangs have seized on the ongoing insecurity in Haiti and have ramped up attacks on the capital, Port au Prince, in recent months. And that's it for what's news for Tuesday morning. Additional sound in this episode was from Reuters. Today's show was produced by Kate Bullivant. Our supervising produce producer was Daniel Bach. And I'm Luke Vargas for the Wall Street Journal. We will be back tonight with a new show, and until then, thanks for listening.

[Charles Schwab]

AI could be the most transformative technology since the advent of the Internet itself. So how can we start putting it to work? Find out in the latest episode of AI That Means Business. A new podcast from Google and custom content from WSJ.