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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with tariffs and President Trump following through

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Speaker 3: on his pledge to place a twenty five percent duty

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Speaker 3: on all US steel and aluminum imports. The tariffs will

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Speaker 3: go into effect March twelfth. The President is warning, though,

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Speaker 3: that the rate may go higher. Speaking from the Oval Office,

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Speaker 3: the President insisted the move with help boost domestic production

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Speaker 3: and bring jobs to the US.

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Speaker 4: Protecting our stealed aluminum industries is a must. And today

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Speaker 4: I'm simplifying our tariffs and CEO and aluminum so that

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Speaker 4: everyone can understand exactly what it means. It's twenty five

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Speaker 4: percent without exceptions or exemptions, and that's all countries, no

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Speaker 4: matter where it comes from, all countries. If made in

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Speaker 4: the United States, however, there is no tariff zero.

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Speaker 3: President Trump's move comes on top of new ten percent

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Speaker 3: tariffs on goods from China and twenty five percent levies

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Speaker 3: on Canadian and Mexican products that are currently paused for

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Speaker 3: one month.

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Speaker 2: And Nathan, these latest tariffs are leading to retaliation overseas.

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Speaker 2: The European Union says it will respond to any tariffs

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Speaker 2: the US might impose on it. The BLOCKS Trade chief

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Speaker 2: Marozefkevich spoke today in the European Parliament.

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Speaker 5: We are currently assessing the scope of the measures announced

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Speaker 5: overnight overnight and will be responding infirm and a proportionate

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Speaker 5: way by countmass.

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Speaker 2: In addition to Maro's Sefkevich's comments, European Commission President Ursula

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Speaker 2: vonder Lyons said in a statement today the EU will

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Speaker 2: not go unanswered.

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Speaker 6: Well.

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Speaker 3: President Trump says there are zero exemptions to these tariffs Karen,

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Speaker 3: but one nation maybe getting a carve out, Australia. It's

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Speaker 3: Prime Minister Anthey Albany said he made the case for

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Speaker 3: an exemption in a phone call with the President and

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Speaker 3: said he agreed to consider an exemption on Australian steam

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Speaker 3: and aluminum. Both the leaders cited the US trade surplus

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Speaker 3: with Australia as a key reason for a carveout.

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Speaker 2: Well Nathan. Turning to geopolitics, President Trump has given Hamasa

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Speaker 2: warning after it announced it was indefinitely postponing the next

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Speaker 2: release of Israeli hostages that was said to happen this weekend.

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Speaker 2: Trump says if the hostages are not freed, Israel should

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Speaker 2: end it, ceasefire.

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Speaker 4: As far as I'm concerned, if all of the hostages

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Speaker 4: aren't returned by Saturday at twelve o'clock, I think it's

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Speaker 4: an appropriate time. I would say cancel it and all

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Speaker 4: bets are off and let hell break out.

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Speaker 2: President Trump also threatened to cut off foreign age to

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Speaker 2: Jordan and Egypt if they don't agree to take Palestinian

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Speaker 2: refugees from the Gaza Strip. Trump reiterated his plan to

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Speaker 2: take control and rebuild the Gaza Strip, saying Palestinians might

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Speaker 2: not have the right to return to the area under

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Speaker 2: his proposal.

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Speaker 3: And in a conversation with Fox newscare And President Trump

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Speaker 3: was asked if he views his Vice President JD. Vance

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Speaker 3: as his successor.

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Speaker 4: No, but he's very capable. I mean, I don't think that,

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Speaker 4: you know, I think you have a lot of very

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Speaker 4: capable people.

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Speaker 6: So far.

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Speaker 4: I think he's doing a fantastic job. It's too early,

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Speaker 4: we're just starting.

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Speaker 3: And the President's comments come as the Vice president is

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Speaker 3: in Europe attending a summit on artificial intelligence in Paris,

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Speaker 3: and in.

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Speaker 2: A stunning move, Nathan, the Trump administration has ordered federal

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Speaker 2: prosecutors to drop their corruption case against New York City

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Speaker 2: Mayor Eric Adams. Bloomberg's John Tucker joins us with the details,

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Speaker 2: and John, what do we know well?

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Speaker 7: The demand Karen to drop the charges. This comes in

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Speaker 7: a memo by a high ranking Department of Justice official.

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Speaker 7: It claims the case against Adams, so a Democrat, was

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Speaker 7: politically motivated and is preventing him from tackling immigration and

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Speaker 7: violent crime with a highly unusual intervention. It comes after

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Speaker 7: months of Adams trying to curry favor with President Trump.

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Speaker 7: Adams is New York City's first sitting mayor in modern

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Speaker 7: history to be charged with a federal crime. A prosecutor

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Speaker 7: said at the time that he accepted illegal campaign donations

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Speaker 7: and luxury travel upgrades. Adams in recent months traveled to

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Speaker 7: Florida to meet Trump at mar Alango and attended the

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Speaker 7: president's inauguration, and he's avoided criticizing the President. Trump, who

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Speaker 7: was and dined in non federal changes himself, has expressed

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Speaker 7: sympathy for Adams in New York. I'm John Tucker, Bloomberg Radio.

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Speaker 3: All Right, John Thanking. This move for New York City's

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Speaker 3: mayor comes after President Trump officially pardoned disgraced former Illinois

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Speaker 3: Governor Rod Blagoyevitch. The President announced that from the Oval office,

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Speaker 3: it's my.

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Speaker 4: Honor to do it. I've watched him. He was set

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Speaker 4: up by a lot of bad people, some of the

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Speaker 4: same people that I had to deal with.

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Speaker 3: President Trump says he knows Rod Blogoyevitch from his time

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Speaker 3: on the Celebrity Apprentice. Bligoyevitch served as a Democrat. He

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Speaker 3: was removed from office in Illinois in two thousand and

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Speaker 3: nine for attempting to solicit bribes to fill the Senate

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Speaker 3: seat that Barack Obama vacated when he became president. In

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Speaker 3: twenty twenty, President and Trump commuted Bogoyevitch's fourteen year prison sentence.

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Speaker 2: Well to the Economy Now, Nathan and vetch here J.

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Speaker 2: Powell will face tough hearings on Capitol Hills starting today.

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Speaker 2: During what's expected to be hyper charged hearings over shadowed

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Speaker 2: by President Trump. Bloomberg's Amy Morris has more from Washington.

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Speaker 8: Democrats and Republicans are likely to question Powell on President

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Speaker 8: Trump's policies, including banking regulations and a rollback of diversity efforts.

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Speaker 8: During the FOMC news conference last month, Powell explained they

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Speaker 8: are in a wait in c mode.

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Speaker 3: We need to let those policies be articulated before we

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Speaker 3: can even begin to make a plausible assessment of what

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Speaker 3: their implications for the economy will be.

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Speaker 8: Lawmakers are likely to raise concerns about the Fed's miss

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Speaker 8: of its two percent inflation target, its response to Donald

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Speaker 8: Trump's executive order on DEI policies, and it stands on

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Speaker 8: bank regulations, among other issues. In Washington, Amy Morris, Bloomberg Radio.

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Speaker 2: All right, Amy, thank you, and Bloomberg will bring you

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Speaker 2: live coverage of Powell's testimony starting at ten am Wall

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Speaker 2: Street time on Bloomberg Radio and the Bloomberg podcast page

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Speaker 2: on YouTube.

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Speaker 3: Cern two tech Now Karen, a group of investors led

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Speaker 3: by Elon Musk, has offered to buy the nonprofit that

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Speaker 3: controls Open Ai for ninety seven point four billion dollars,

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Speaker 3: but in response, the CEO of Open Ai, Sam Altman,

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Speaker 3: posted on Musk's x platform quote, no, thank you, but

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Speaker 3: we will buy Twitter for nine point seven four billion

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Speaker 3: dollars if you want. At the AI Action Summit in Paris,

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Speaker 3: sam Aldman spoke with Bloomberg's Tom mackenzie about Elon Musk's influence.

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Speaker 8: I mean, look, open AI is not for sale. The

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Speaker 8: open admission is not for sale.

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Speaker 3: Elon tries all sorts of things for a long time,

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Speaker 3: just as the lad you know. This week's episode, that's

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Speaker 3: Open AI CEO Sam Altman speaking with Bloomberg's Tom mackenzie

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Speaker 3: from the AI Action Summit in Paris, well Nathan.

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Speaker 2: Also at the AI Action Summit was Vice President jd Vance,

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Speaker 2: making his debut on the world stage. He just delivered

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Speaker 2: a keynote speech where he talked about the promise of

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Speaker 2: a fast developing technology AI I really.

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Speaker 9: Believe will facilita and make people more productive. It is

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Speaker 9: not going to replace human beings. It will never replace

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Speaker 9: human beings. And I think too many of the leaders

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Speaker 9: in the AI industry when they talk about this fear

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Speaker 9: of replacing workers, I think they really missed the point

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Speaker 9: AI we believe is going to make us more productive,

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Speaker 9: more prosperous, and more free.

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Speaker 2: And Vice President jd Vance also warnt against AI dealing

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Speaker 2: with ideological bias and said excess regulation could kill the

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Speaker 2: developing industry. Time now for look at some of the

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Speaker 2: other stories making news in New York and around the

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Speaker 2: world and for that. We're joined by Bloomberg's Michael Barr. Michael,

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Speaker 2: good morning, Good.

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Speaker 6: Morning, Karen. Here comes another batch of winter weather for

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Speaker 6: the mid Atlantic. How much snow will the Try State

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Speaker 6: area again? Bloomberg Medior religist Rob Carolyn as the latest.

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Speaker 10: Michael double barreled low pressure system is going to bring

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Speaker 10: some rain and snow to portions of the mid Atlantic

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Speaker 10: and the Northeast over the next several days. The first

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Speaker 10: batch is snow today. That's why winter storm morning is

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Speaker 10: an't effect for much the mid Atlantic and some winter

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Speaker 10: weather advisors as far north as central New Jersey. The

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Speaker 10: district in Baltimore could see as much as three to

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Speaker 10: six inches of snow today and into tonight, while New

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Speaker 10: York City and Philadelphia pick up a couple of inches

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Speaker 10: later tonight and into early tomorrow morning. The second storm

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Speaker 10: brings a mixed bag of precipitation of portions in the

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Speaker 10: Northeast Wednesday night and on into Thursday. I'm Rob carrolln

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Speaker 10: Bloomberg Radio.

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Speaker 6: Thank you, Rob. Authorities are investigating a small jet crash

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Speaker 6: that happened in Scottsdale, Arizona. Officials say the Lear Jets

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Speaker 6: landing gear failed causing it to crash into a Gulf

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Speaker 6: Stream jet just off the runway. One person was killed

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Speaker 6: and four were injured. Kelly Keaster is the aviation Planning

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Speaker 6: and outreach coordinator at the Scottsdale Airport.

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Speaker 10: The National Transportation Safety Board is on scene. They will

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Speaker 10: be taking over the investigation at this point.

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Speaker 6: The lear Jet is registered to a company owned by

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Speaker 6: Motley Crude. Lead singer Vince Neil, the rock Star was

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Speaker 6: not on the plane. Today. At a Manhattan Criminal corda

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Speaker 6: hearing is set to discuss a possible plea deal for

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Speaker 6: former Trump advisor Steve Bennon. Bennon's attorney says he is

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Speaker 6: planning on pleading guilty in a fraud case involving fundraising

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Speaker 6: for a piece of US Mexico border wall. The deal

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Speaker 6: will likely allow him to avoid prison time. Finally, tonight

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Speaker 6: we'll find out who is top dog. Hundreds of dogs

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Speaker 6: and their handlers have taken over New York's Madison Square

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Speaker 6: Garden this week as the Westminster Kennell Club Dog Show

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Speaker 6: is underway. They are competing for the covened Best in

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Speaker 6: Show title, which will be awarded tonight. This woman, who

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Speaker 6: is participating with her bever Terrier says. Everyone at the

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Speaker 6: show comes with the same goal.

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Speaker 8: They just love us and we love them. That's why

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Speaker 8: I'm here today, the love for the breed and dogs

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Speaker 8: in general.

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Speaker 6: It is the one hundred and forty ninth year for

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Speaker 6: the show Global News twenty four hours a day and

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Speaker 6: whenever you want it with Bloomberg News. Now. I'm Michael Barr,

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Speaker 6: and this is Bloomberg Karen.

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Speaker 2: Ray, Michael Barr, thank you time now for the Bloomberg

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Speaker 2: Sports Update, brought to you by Try State Audie. Here's

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Speaker 2: John Stanshower.

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Speaker 1: John, good morning, Good morning, Karen. Look at Don Sich

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Speaker 1: had and played the games since so leg injury suffered

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Speaker 1: on Christmas. That was when he was with Dallas. He's

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Speaker 1: now a Laker. Made his debut in La threw an

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Speaker 1: Alley Oh pass in the opening minute. I played twenty

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Speaker 1: four minutes, scored fourteen points, shooting five of fourteen, only

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Speaker 1: one of seven from three, five rebounds, four assists in

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Speaker 1: the Lakers easy win over Utah.

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Speaker 11: You're special. The way they received me, everybody, it was

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Speaker 11: amazing to see. It was a little nervous before. I mean,

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Speaker 11: when was the last time it was nervous before? The game,

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Speaker 11: but once a step on the core was it was

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Speaker 11: fun and just being out there again felt amazing.

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Speaker 1: Lakers have one twelve the last fourteen. They moved into

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Speaker 1: fourth place in the West. Will played the Jazz again tomorrow,

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Speaker 1: last game before the All Star Break. Next play tonight

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Speaker 1: at Indiana. It was the Pacers who took the Knicks

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Speaker 1: out of the playoffs last year. At Barklay's, Nets put

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Speaker 1: six and double figures beat Charlotte ninety seven to eighty

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Speaker 1: nine Celtics. Last he had those big road winds in Cleveland,

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Speaker 1: then at the Garden they won in Miami one o

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Speaker 1: three to eighty five. Jason Tatum scored thirty three. The

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Speaker 1: dispute over ownership of the Minnesota Timberwolves went to an

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Speaker 1: arbitration panel that ruled in favor of the hopeful incoming

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Speaker 1: group headed by Mark Laura and Alex Rodriguez. Current owner

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Speaker 1: Glenn Taylor felt they had missed the deadline for a payment.

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Speaker 1: Latest college basketball rankings have Auburn first, Alabama second, and

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Speaker 1: the art Rivals will play on Saturday. Red hot Saint John's,

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Speaker 1: now ranked ninth in the country, playing tomorrow at Villanova

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Speaker 1: College Hockey in Boston. Sellout crad for the final of

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Speaker 1: the annual Bean Pot a Toorney bu upset top rank

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Speaker 1: BC four to one. Due to the fires, the Genesis

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Speaker 1: Golf it starts.

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Speaker 6: Thursday, was moved from rivi Aera.

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Speaker 1: In LA out of Torrey Pines outside San Diego Tiger

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Speaker 1: Woods as the host he was going to play, He's withdrawn,

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Speaker 1: saying he's still processing the death of his mother last week.

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Speaker 1: Pitchers and catchers report today for spring training first workouts tomorrow.

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Speaker 1: The parade for the Eagles will be Friday in Philadelphia.

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Speaker 1: Dash Edward Bloomberg Sports can carry Nathan.

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Speaker 8: Coast to coast on Bloomberg Radio nationwide on Serious Exam

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Speaker 8: and around the world on Bloomberg dot Com and the

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Speaker 8: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 6: Good morning.

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Speaker 3: I'm Nathan Hager. It is the latest salvo in President

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Speaker 3: Donald Trump's bid to protect US industries by getting tough

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Speaker 3: on trade. The President is ordering twenty five percent tariffs

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Speaker 3: on steel and aluminum imports into the US, and he

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Speaker 3: says it's only the beginning.

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Speaker 4: It's a big deal. It's a big deal. This is

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Speaker 4: the beginning of making America rich again.

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Speaker 3: That was the president as He signed the order at

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Speaker 3: the Oval Office last night, from where we were joined

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Speaker 3: this morning by Bloomberg News Senior editor Bill Ferry. So, Bill,

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Speaker 3: looks like the President is serious about tariffs, at least

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Speaker 3: when it comes to metals.

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Speaker 12: Good morning, Hey, Good morning, Nathan.

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Speaker 11: Yeah.

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Speaker 12: I mean, if you remember, just a couple of weeks ago,

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Speaker 12: we were talking about the president's threat to put twenty

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Speaker 12: five percent tariffs on all goods coming from Canada and Mexico,

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Speaker 12: and at the last minute, literally the day of, there

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Speaker 12: was an agreement reach to postpone that until early March.

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Speaker 12: It did raise questions about how far the President was

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Speaker 12: willing to go, but he acted very quickly here. He

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Speaker 12: announced his plans to put in these tariffs on Super

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Speaker 12: Bowl Sunday, and now we have them, and we're already

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Speaker 12: starting to see a reaction.

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Speaker 2: Now.

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Speaker 12: He said that the terriffs will come into effect on

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Speaker 12: March twelfth, so that does leave a lot of time

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Speaker 12: for negotiating. We've heard him say already that Australia is

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Speaker 12: one country that he would consider for sometion. But you

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Speaker 12: can rest assured that there's going to be a lobbying

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Speaker 12: spree taking off among other nations that would be affected

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Speaker 12: by this. It includes places like United Arab Immorants, South Korea, Taiwan,

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Speaker 12: and many others. So they are set to come into place,

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Speaker 12: but we still don't know what that impact will be

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Speaker 12: just yet.

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Speaker 3: Well, what kind of impact could we see bill in

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Speaker 3: terms of the global reaction? I mean, we've already heard

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Speaker 3: from the European Commission saying that they've got countermeasures ready

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Speaker 3: to go. I mean, are we looking ahead to a

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Speaker 3: potentially fraught negotiation here?

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Speaker 12: I think very potentially.

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Speaker 11: Yeah.

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Speaker 12: I Mean one thing is that President Trump's order goes

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Speaker 12: beyond just steel and aluminum. It includes finished metal products,

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Speaker 12: so that carries it a little bit further than his

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Speaker 12: last The last time he used tariffs on imports like

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Speaker 12: this before, we know that, you know, we know from

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Speaker 12: past experience that the EU had about three billion dollars

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Speaker 12: in tariff set against some of those iconic American goods,

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Speaker 12: things like Harley Davidson motorcycles and Kentucky bourbons. We make

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Speaker 12: it easily put that back in place very quickly after

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Speaker 12: March twelfth. If these actually go into effect, it does

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Speaker 12: questions too about the inflationary impact. We'll just have to

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Speaker 12: wait and see whether they whether these things and then

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Speaker 12: whether those those prices price increases starts showing up for consumers.

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Speaker 3: In our last minute bill on top of these tariffs,

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Speaker 3: we're hearing the President talking even tougher as well when

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Speaker 3: it comes to the ceasefire in Gaza.

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Speaker 1: That's right.

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Speaker 12: He he was, i think reacting to this Hamas deciding

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Speaker 12: that it wanted to delay implementation or release of additional

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Speaker 12: hostages for a little bit. The President showing his impatience

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Speaker 12: with that, and he basically set this, uh somewhat arbitrary

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Speaker 12: deadline of noon on Saturday, and he said if all

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Speaker 12: the hostages aren't released by then, then then the Israel

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Speaker 12: should consider the whole truth to be to be off

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Speaker 12: and go back to conflict there. So we're still we

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Speaker 12: still have a few weeks left in this conflict, this truth.

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Speaker 12: I'm sorry, uh, And there's still I think almost seventy

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Speaker 12: hostages still held by Hamas. So it's a pretty fragile

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Speaker 12: time there and the President drawing a hard one.

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Speaker 2: This is Bloomberg day Break, your morning podcast on the

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Speaker 2: stories making news from Wall Street to Washington and beyond.

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Speaker 3: And I'm Nathan Hager. Join us again tomorrow morning for

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