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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, the seasfire between the US and Iran has reached

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Speaker 3: a precarious moment. President Trump says he has rejected Tehran's

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Speaker 3: latest peace proposal and the truce is, in his words,

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Speaker 3: unbelievably weak.

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Speaker 4: I would say the seasfire is on massive life support,

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Speaker 4: where the doctor walks in and says, sir, your loved

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Speaker 4: one has approximately a one percent chance of living.

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Speaker 3: President Trump spoke in the Oval Office at an event

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Speaker 3: with medical professionals. We get more from Bloomberg's Jumana Borsecci

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Speaker 3: in Dubai.

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Speaker 5: He also went on to describe the Iranian counter proposal

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Speaker 5: as it quotes piece of garbage. Probably, you know, a

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Speaker 5: bit of an exaggeration there. But at the same time,

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Speaker 5: he also seemed to insinuate that the Iranians are planning

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Speaker 5: on handing over the nuclear dust. That is, of course,

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Speaker 5: we've not heard any indication from the Iranian side that

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Speaker 5: that is the case. But then he went on to

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Speaker 5: say that a diplomatic solution is still in sight. So

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Speaker 5: multiple different narratives coming out from President Trump. During the

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Speaker 5: course of that press conference.

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Speaker 3: Yesterday, blombergs Jumana Barssetci reports Iran demanded a lifting of

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Speaker 3: the US naval blockade and sanctions relief in its latest counterproposal,

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Speaker 3: while maintaining some control over the Strait of Hormus. President

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Speaker 3: Trump is not indicating whether he will resume military attacks

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Speaker 3: on Iran, but he told Fox News he could revive

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Speaker 3: a plan to escort ships through the strait, known as

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Speaker 3: Project Freedom.

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Speaker 2: Well Nathan, to help ease the burden of higher prices

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Speaker 2: at the Palm. President Trump said he is seeking to

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Speaker 2: suspend the federal eighteen point four cent a gallon tax

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Speaker 2: on gasoline. According to independent budget analyst, that would cost

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Speaker 2: the federal government about three and a half billion dollars

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Speaker 2: a month in lost gasoline and diesel tax revenue. The

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Speaker 2: president's proposal would require an Act of Congress.

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Speaker 3: And Karen The War will be the backdrop of President

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Speaker 3: tr Trump's trip to China, but several other topics will

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Speaker 3: be on the agenda as well, including Taiwan. Bloomberg Zamy

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Speaker 3: Morris reports from Washington.

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Speaker 1: The White House says deals spanning aerospace, energy, and agriculture

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Speaker 1: industries are expected from the president's meeting with Chinese leader

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Speaker 1: Shi Jinping, and Trump says he'll also discuss whether the

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Speaker 1: US should continue arm sales to Taiwan.

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Speaker 6: Well, I'm going to have that discussion with presidential President.

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Speaker 6: She would like us not to.

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Speaker 1: Trump's comments could ruffle feathers in Congress, where a bipartisan

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Speaker 1: group of senators urged the President to advance a fourteen

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Speaker 1: billion dollar arms package for Taiwan. In Washington, Amy Moore

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Speaker 1: as Bloomberg Radio.

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Speaker 2: Right, Amy, thank you, Well. Several Wall Street Titans will

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Speaker 2: be accompanying the President on his China trip. One notable absence,

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Speaker 2: though in Video CEO Jensen Wong Well more than a

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Speaker 2: dozen other top executives, including Apple's CEO Tim Cook and

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Speaker 2: Tesla's Elon Musk, made the cut for the business delegation.

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Speaker 2: A White House official says wog was not among those invited.

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Speaker 2: Wong's absence maybe a potential setback for him, and has

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Speaker 2: bid to sell on Video's Ai chips to China.

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Speaker 3: Karen the mayor of an affluent Los Angeles suburb, has

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Speaker 3: resigned after agreeing to plead guilty to acting as an

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Speaker 3: unregistered foreign agent for China Eileen Wog admitted to posting

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Speaker 3: pro China propaganda at the direction of Chinese government officials.

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Speaker 3: Wang was the mayor of Arcadia. That's a city of

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Speaker 3: about fifty five thousand, about fifteen miles northeast of downtown.

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Speaker 2: La Well, let's go to politics overseas, Nathan. Keir Starmer

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Speaker 2: is facing growing pressure to step down as Britain's Prime minister.

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Speaker 2: Let's go live to London and get the very latest

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Speaker 2: of Bloomberg. James Wilcock, Good morning, James.

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Speaker 7: Karen, Nathan. This increasingly looks like Kiir Starmer's endgame. Twenty

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Speaker 7: percent of his Labour Party MPs have now publicly called

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Speaker 7: on the UK leader to go. Bloomberg understands last night

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Speaker 7: so of Starma's closest cabinet allies told him to set

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Speaker 7: out his exit plans. He has gathered his cabinet in

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Speaker 7: the past hour in Number ten, Downing Street and told

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Speaker 7: them he intends to stay on. Now we wait to

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Speaker 7: see what they're verdict on his leadership is in London.

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Speaker 7: James Wilcock, Blue big Idea.

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Speaker 3: All right, James, thank you. Now the latest on that

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Speaker 3: cruise ship struck by a deadly haunt of virus outbreak.

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Speaker 3: All the passengers who are aboard the Envy Hantius have

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Speaker 3: disembarked and boarded planes to more than twenty countries to

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Speaker 3: be quarantined. Fifteen Americans who are exposed to the disease

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Speaker 3: are being isolated at the University of Nebraska. One is

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Speaker 3: infected and being treated in a biocontainment unit. Another who

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Speaker 3: developed symptoms but has not tested positive, is at Emory

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Speaker 3: University in Atlanta. President Trump says he is hopeful the

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Speaker 3: virus can be contained.

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Speaker 6: I help, it's five. All I can do is everything

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Speaker 6: that a president can do, which is which is actually

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Speaker 6: somewhat limited. But it seems like it is not easy

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Speaker 6: to spread.

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Speaker 3: President Trump, again, speaking from the Oval Office. Three cruise

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Speaker 3: passengers died. Six others with confirmed or suspected cases are

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Speaker 3: being quarantined. Health officials say this is the first haunt

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Speaker 3: of virus outbreak on a cruise ship.

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Speaker 2: Let's turn two of the markets now Nathan, where South

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Speaker 2: Korea's Cosby indag shed more than three hundred billion dollars

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Speaker 2: in value in just ninety seven minutes today. The sharp

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Speaker 2: sell off followed a proposal from a top South Korean

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Speaker 2: policymaker to introduce a so called citizen's dividend using taxes

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Speaker 2: on AI profits. The cost b which at one point

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Speaker 2: was down five percent, closed down more than two percent.

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Speaker 2: Time now for a look at some of the other

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

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

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Speaker 2: good Morning, Good morning, Karen.

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Speaker 8: A terrifying scene near Harvard University Monday afternoon, A shooting

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Speaker 8: near Boston has left two people with life threatening injuries.

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Speaker 8: The gunfire erupting in Cambridge sent pedestrians running for cover

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Speaker 8: and drivers swerving to avoid the bullets near Memorial Drive

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Speaker 8: and River Street. Middlesex District Attorney Mary and Ryan That

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Speaker 8: says the suspected gunman, Tyler Brown, began shooting into traffic

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Speaker 8: with an assault style rifle, and.

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Speaker 2: He was actively firing a wrap fashion at various.

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Speaker 9: Vehicles along the road.

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Speaker 2: In the course of doing that, two males in vehicles

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Speaker 2: separately were struck by gunfire. D A.

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Speaker 8: Ryan says Brown was stopped when he was shot by

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Speaker 8: a Massachusetts state trooper and a Marine veteran who stepped

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Speaker 8: in to stop the shooter. Brown was placed under arrest

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Speaker 8: and taken to a hospital. The US Supreme Court is

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Speaker 8: temporarily extended and order that maintains nationwide access to the

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Speaker 8: abortion pill mithipristone by mail and through telehealth visits. A

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Speaker 8: lower federal appeals court ruling prohibited health providers from dispensing

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Speaker 8: the abortion pill by mail. Women's health expert and chief

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Speaker 8: medical officer for Hers, doctor Jessica Shepherd.

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Speaker 9: Physicians use this medication more than just for abortion, and

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Speaker 9: for women who actually need to have a pregnancy and

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Speaker 9: have a pregnancy loss and need to find a way

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Speaker 9: to have that taken care of medically. These are the

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Speaker 9: types of medications that we've use for decades.

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Speaker 8: Activists say nearly one third of the abortions in the

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Speaker 8: US each year are done through telehealth. President Trump will

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Speaker 8: visit Walter Reed Military Medical Center on May twenty sixth

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Speaker 8: for his annual dental and medical evaluations. According to a

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Speaker 8: White House statement, this will include the President's routine annual

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Speaker 8: dental and medical assessments as part of his regular preventative

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Speaker 8: health care. Global News twenty four hours a day and

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Speaker 8: whenever you want it with the Bloomberg News Now, I'm

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Speaker 8: Michael Barr and this is Bloomberg Karen. Thanks Michael.

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Speaker 2: Time now for our Bloomberg Sports update, and for that

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Speaker 2: we bring in John stash Hour.

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Speaker 1: Thanks Karin.

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Speaker 10: The Cleveland Cabaliers and the NBA playoffs. Yet to win

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Speaker 10: on the road, yet to lose a home. The Cavs

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Speaker 10: beat Detroit one twelve to one oh three. They score

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Speaker 10: the first twenty three points of the second half. That

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Speaker 10: series is tied at two. Another series suite for Oklahoma City.

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Speaker 10: That thunderbeat the Lakers one fifteen to one to ten

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Speaker 10: and what may have been the final game of Lebron

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Speaker 10: James's career. The full NFL schedule comes out Thursday night,

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Speaker 10: but the NFL and now Week one Sunday night game

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Speaker 10: will be Dallas at the Giants.

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Speaker 8: That's you their Bloomberg Sports update.

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Speaker 1: Stay with us.

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Speaker 2: More from Bloomberg Daybreak coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak. Good morning.

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Speaker 3: I'm Nathan Hager on Massive Life Support. That's how President

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Speaker 3: Trump's describing the ceasefire with Iran after getting its response

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Speaker 3: to the latest US peace offer unbelievably.

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Speaker 6: Wick I always say I would call it the weakest.

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Speaker 3: Right now, the President says he didn't even bother to

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Speaker 3: finish reading Iran's counterproposal. He spoke from the Oval Office

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Speaker 3: joining us this morning from Dubai. His Bloomberg Middle East

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Speaker 3: correspondent to Birabu Omar Maverir. What's the President objecting to here?

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Speaker 3: Why did he reject the proposal? Good morning, Good morning, Nathan.

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Speaker 11: So look, I mean, the President did reject the offer

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Speaker 11: that came from Iran over the weekend, calling it, as

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Speaker 11: you've just heard or as you just mentioned, quote, a

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Speaker 11: piece of garbage, and saying that the ceasefire that was

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Speaker 11: agreed upon on April eighth is on massive life support. Now,

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Speaker 11: what it comes down to is the fact that the

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Speaker 11: resolution that Iran had put through, or the proposal that

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Speaker 11: Iran had put through in response to what President Trump

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Speaker 11: had given them, which is a gradual reopening of the

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Speaker 11: strait of her moves over the next month, is Iran

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Speaker 11: has asked for what the US has previously called maximalist demands. Right,

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Speaker 11: So that includes the fact that Iran wants to delay

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Speaker 11: nuclear talks that Iran wants its oil sales unsanctioned and

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Speaker 11: that it wants its assets abroad to be unfrozen. That

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Speaker 11: is something that the US has not agreed on, something

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Speaker 11: that President Trump has called a piece of garbage, as

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Speaker 11: we have mentioned earlier. Obviously, all of this has led

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Speaker 11: to Brent Crude doing what Brent Crude has been doing

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Speaker 11: over the past seventy days or so, which is climbing

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Speaker 11: above one hundred and seven dollars at this point due

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Speaker 11: to this impasse between as the United States and Iran, Well,

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Speaker 11: what are.

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Speaker 3: The potential next steps here?

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Speaker 1: Abier?

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Speaker 3: We heard the President tell Fox News that he might

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Speaker 3: consider the Project Freedom escort service through the Strait of

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Speaker 3: Horror moves that he put in place for just the

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Speaker 3: day last week. If that were to happen, what impact

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Speaker 3: would that have?

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Speaker 11: So, yeah, you're absolutely right. I mean he fell short,

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Speaker 11: first of all to Fox News, but by signaling that

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Speaker 11: a resumption of military attacks on Iran is not something

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Speaker 11: that the US is looking for right now, that a

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Speaker 11: diplomatic solution is still very possible. That is something he

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Speaker 11: also said, so not totally negative on that front as well,

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Speaker 11: and he did suggest that a revival of the US

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Speaker 11: Navy escorting ships down the Strait of Her Moves is possible.

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Speaker 11: That is, as you have mentioned Project Freedom that came

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Speaker 11: into effect last Monday and was paul very shortly afterwards,

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Speaker 11: So that may suggest a few ships here and there

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Speaker 11: going through the Strait of Her Moves. Now that Project

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Speaker 11: Freedom as it was called, only happened for a day

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Speaker 11: or so, so we couldn't really see a full impact

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Speaker 11: of what could have happened out of it. But look,

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Speaker 11: shipping traffic in the Strait of Her Mooves remains pretty

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Speaker 11: much at a standstill as of today. A fraction of ships,

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Speaker 11: a fraction of LG and oil shipments are going through

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Speaker 11: the Strait of Her Moves and it really really is

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Speaker 11: at the heart of this conflict. If Iran and the

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Speaker 11: US were to come to a resolution suggesting or including

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Speaker 11: the reopening of the Strait of Her Moves over the

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Speaker 11: next month or so, that could be the first glimpse

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Speaker 11: of light that we see towards the end or a

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Speaker 11: resolution to this conflict that's been going on for more

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Speaker 11: than ten weeks at this point.

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Speaker 3: With the lack of a resolution here, we still see

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Speaker 3: on the schedule from the White house a beer. President

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Speaker 3: Trump headed to Beijing for the summit with China's shi Jinping.

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Speaker 3: How much of a shadow is Iran going to cast

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Speaker 3: over that summit. We've got just about a minute left.

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Speaker 11: Yeah, look, I mean that is one thing that I

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Speaker 11: mentioned this morning. President Trump's long awaited meeting with President

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Speaker 11: Hijhi Ping is happening towards the end of this week. Now,

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Speaker 11: Iran's foreign minister and passage actually had met with his

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Speaker 11: Chinese counterpart, and we understand from that meeting that China

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Speaker 11: did come out and urge a resolution. So we understand

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Speaker 11: that Iran, the conflict in the Middle East could take

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Speaker 11: a chunk of the meeting between the two, especially as

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Speaker 11: the economic damage that was left on China. Its inflation

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Speaker 11: levels because of the energy disruptions that we're seeing out

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Speaker 11: of the region really take a toll on the economy there.

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Speaker 11: So that conflict, or this conflict in the region and

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Speaker 11: the impact of it has left this relationship between the

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Speaker 11: US and China even in more tatters than than before.

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Speaker 11: So it's possibly going to be at front and center

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Speaker 11: in that meeting happening later this week.

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