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Speaker 1: News when you want it with Bloomberg News. Now, I'm

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Speaker 1: Doug Prisner. President Trump is in Japan today for the

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Speaker 1: second leg of his Asia tour. In Tokyo, he met

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Speaker 1: with Prime Minister sunna A Takeiichi and hailed the US

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Speaker 1: alliance with Japan, given Takeaichi's plan to ratchet up defense spending.

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Speaker 1: Here he is take Iichi speaking through a translator.

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Speaker 2: Now, both Japan and the United States have developed the

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Speaker 2: greatest alliance in the world, and together with you, Japan

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Speaker 2: is ready to contribute to worst peace and stability.

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Speaker 1: Trump and Tukiichi also signed documents on trade and critical minerals. However,

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Speaker 1: the agreements remained ill defined, the trade document noting swift

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Speaker 1: and continued efforts, and the critical minerals packed pledging to

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Speaker 1: coordinate on permitting, financing, and mapping. Now, the next stop

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Speaker 1: in Trump's tour of Asia is South Korea for the

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Speaker 1: APEC Summit, and it's there he is set to meet

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Speaker 1: with Chinese President Chi Jinping. N Burns is former US

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Speaker 1: Ambassador to China.

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Speaker 3: There might be seven or eight issues where they make

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Speaker 3: commitments to each other, and it's good to make progress

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Speaker 3: on these, but I think the tension between the United

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Speaker 3: States on trade issues is going to continue past this meeting.

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Speaker 3: That's not a criticism of President Trump. It's actually more

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Speaker 3: criticism of the Chinese government and the fact that they've

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Speaker 3: been extraordinarily difficult on these issues. Overall, I'd say that

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Speaker 3: this is a very competitive US China relationship.

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Speaker 1: Nicholas Burns there. He is former US Ambassador to China.

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Speaker 1: Optimism over a trade deal between the US and China

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Speaker 1: lifted the equity market to all time highs. Over the weekend.

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Speaker 1: The two sides meant in Malaysia and said they've reached

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Speaker 1: a trade framework. Elizabeth Economy is a senior fellow at

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Speaker 1: the Hoover Institution.

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Speaker 4: Look, this is great news, and I think it does

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Speaker 4: amount to a trade reset, but it's absolutely fair to

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Speaker 4: note that really, with the exception of the TikTok deal,

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Speaker 4: that all of this just brings us back out of

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Speaker 4: the hole that we ourselves, Doug have dug over the

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Speaker 4: past nine, you know, to ten months since the administration

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Speaker 4: came into office. So there's no real trade advance here,

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Speaker 4: you know, there are no new deals being struck except

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Speaker 4: for the fact that, yes, we're hoping to get soybean

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Speaker 4: purchases back to where they were in twenty twenty four.

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Speaker 1: Elizabeth Economy there from the Hoover Institution. Amazon is planning

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Speaker 1: to cut thousands of corporate jobs in several key departments.

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Speaker 1: We are told they include logistics, payments, video games, and

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Speaker 1: Amazon's cloud computing unit. Now Reuters is reporting the terminations

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Speaker 1: are expected to start as soon as Tuesday, and they

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Speaker 1: could affect as many as thirty thousand workers. Here as

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Speaker 1: Bloomberg Sarah Fryar.

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Speaker 5: This is something that the companies all across the board

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Speaker 5: have been doing since the pandemic era, what they call

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Speaker 5: over hiring. A lot of these companies saw the growth

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Speaker 5: in how people were relying on tech during the pandemic

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Speaker 5: when they were home. They were obviously ordering a lot

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Speaker 5: more from Amazon because they didn't want to go to

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Speaker 5: the grocery store if they were at home workers and

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Speaker 5: the company hired to accommodate that, and now they don't

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Speaker 5: need as many people.

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Speaker 1: That is Bloomberg Sarah Friar incidentally shares an Amazon finished

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Speaker 1: up one point two percent. Today, we go to Congress

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Speaker 1: next to where Democrats and Republicans continue to trade blame

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Speaker 1: over the government shutdown. We are now at day twenty seven,

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Speaker 1: making for the second longest funding lapse in US history. Now,

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Speaker 1: the Senate was back in session on Monday, and we

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Speaker 1: got reaction from Henrietta Trees, the co founder and managing

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Speaker 1: partner at Veda Partners.

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Speaker 6: The temperature on the Republican side, from my perspective, is

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Speaker 6: a lot more calmed. They just are, you know, the

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Speaker 6: President doesn't care about this, or voters so care about this,

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Speaker 6: so therefore we don't care about this. And then on

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Speaker 6: the Democratic side, there's a little bit more action. Keith

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Speaker 6: Jeffries is calling the entire Democratic Conference back to DC

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Speaker 6: this week, so they.

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Speaker 7: Will be there.

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Speaker 6: There'll be press briefings, they'll be talking about the ACA subsidies,

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Speaker 6: and they'll be trying to generate some sort of momentum

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Speaker 6: in one direction or another. But as long as the

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Speaker 6: president is not engaged, there's not going to be any

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Speaker 6: forward progress. So the government should be shut down for

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Speaker 6: at least another probably ten days at a minimum.

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Speaker 1: Henry A Trays there from Veda Partners. Now, there are

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Speaker 1: some looming deadlines that could increase pressure on lawmakers. Hundreds

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Speaker 1: of thousands of federal workers are no longer receiving paychecks,

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Speaker 1: and this week, food stamp benefits for more than forty

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Speaker 1: million Americans will be cut off meantime. Kelly Lawfler, the

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Speaker 1: head of the Small Business Administration, says many key services

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Speaker 1: at her agency are halted.

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Speaker 2: Now.

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Speaker 7: What we've seen is a total shutdown of SBA guaranteed lending,

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Speaker 7: which is delivered through local community lenders to the tune

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Speaker 7: of about three hundred and twenty loans per day, not

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Speaker 7: being able to be closed for a total funding of

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Speaker 7: one hundred and seventy million dollars. It is not being

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Speaker 7: delivered across main streets in this country. By the end

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Speaker 7: of the week, that'll be four billion dollars. That's not

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Speaker 7: getting to six thousand small businesses. So it's really painful

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Speaker 7: right now.

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Speaker 1: Kelly Loeffler there, the head of the Small Business Administration.

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Speaker 1: President Trump has sparked a mid decade redistricting war in

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Speaker 1: the US. Bloomberg Amy Morris has more on the latest

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Speaker 1: efforts to jerry mender.

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Speaker 8: It started in Texas when President Trump urged Republicans to

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Speaker 8: draw new congressional maps to help insure a wider majority

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Speaker 8: of Republican seats. California quickly responded to help insure more

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Speaker 8: democratic districts, then came Ohio, Utah, Missouri, North Carolina, Kansas,

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Speaker 8: and Florida. And now the Democratic led state legislature in

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Speaker 8: Virginia is set to reconvene to begin a multi stage

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Speaker 8: process to amend that state's constitution and redraw house districts,

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Speaker 8: and Indiana Governor Mike Brown is also called a special

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Speaker 8: session to consider redistricting in Washington. Amy Morris, Bloomberg Radio, and.

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Speaker 1: That is news when you want it with Bloomberg News. Now,

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Speaker 1: I'm Doug Chrisner, and this is Bloomberg six