1
00:00:01,520 --> 00:00:04,960
Speaker 1: News when you want it with Bloomberg News Now Dan Schwartzman.

2
00:00:05,400 --> 00:00:08,440
Speaker 1: Officials say the US and China made substantial progress during

3
00:00:08,480 --> 00:00:12,079
Speaker 1: trade talks in Geneva, Switzerland. Treasury Secretary Scott Bestin's and

4
00:00:12,240 --> 00:00:15,640
Speaker 1: US Trade Representative Jamison Greer spoke after hours of meetings

5
00:00:15,680 --> 00:00:18,720
Speaker 1: with Chinese Vice Premier Holly Fung. Here's bessant.

6
00:00:19,079 --> 00:00:22,040
Speaker 2: First, I want to thank our Swiss host. The Swiss

7
00:00:22,040 --> 00:00:27,400
Speaker 2: government has been very kind in providing us this wonderful venue,

8
00:00:27,600 --> 00:00:29,480
Speaker 2: and I think that led to a great deal of

9
00:00:29,520 --> 00:00:34,599
Speaker 2: the productivity we've seen. We will be giving details tomorrow,

10
00:00:36,720 --> 00:00:39,640
Speaker 2: but I can tell you that the talks were productive.

11
00:00:40,040 --> 00:00:43,320
Speaker 1: Asian stocks and US equity index futures rose as a

12
00:00:43,360 --> 00:00:46,519
Speaker 1: result of the trade talks in Switzerland. We got reaction

13
00:00:46,600 --> 00:00:50,000
Speaker 1: from Raj Singh, portfolio manager at Principal Asset Management.

14
00:00:50,240 --> 00:00:54,840
Speaker 3: Market is liking it, and market is digesting this uncertainity

15
00:00:54,920 --> 00:00:57,560
Speaker 3: quite well, and that we can see that since the

16
00:00:57,640 --> 00:01:01,360
Speaker 3: libration day, most of the markets, how would all the losses,

17
00:01:01,400 --> 00:01:03,520
Speaker 3: In fact, most of the markets on green. Whether you

18
00:01:03,560 --> 00:01:06,360
Speaker 3: look at US, you look at Europe, you look places

19
00:01:06,760 --> 00:01:09,760
Speaker 3: in Asia. So I would say that the risk sentiments

20
00:01:09,840 --> 00:01:11,720
Speaker 3: are getting lifted.

21
00:01:11,400 --> 00:01:15,120
Speaker 1: Here that was Raj Singh of Principal Asset Management HAMAS

22
00:01:15,120 --> 00:01:17,640
Speaker 1: says it will be releasing the last living American it

23
00:01:17,720 --> 00:01:21,160
Speaker 1: is holding hostage in Gaza Iden, Alexander. After holding direct

24
00:01:21,200 --> 00:01:24,320
Speaker 1: talks to the US regarding a ceasefire with Israel, President

25
00:01:24,319 --> 00:01:26,240
Speaker 1: Trump is in the Middle East this week meeting with

26
00:01:26,319 --> 00:01:31,039
Speaker 1: regional leaders. An FAA equipment failure prompted another temporary groundstop

27
00:01:31,040 --> 00:01:34,640
Speaker 1: at Newark Liberty International Airport on Sunday. The agency released

28
00:01:34,640 --> 00:01:38,200
Speaker 1: a statement calling it a telecommunications issue at the Philadelphia

29
00:01:38,200 --> 00:01:41,600
Speaker 1: area facility, which guides planes in and out of Newark Airport.

30
00:01:41,920 --> 00:01:44,320
Speaker 1: New York Senator Chuck Schumer held a press conference to

31
00:01:44,360 --> 00:01:48,880
Speaker 1: talk about the latest outage. This situation cannot last. We

32
00:01:48,920 --> 00:01:52,680
Speaker 1: need all hands on deck at the FAA. Make Newark

33
00:01:52,800 --> 00:01:53,320
Speaker 1: number one.

34
00:01:53,840 --> 00:01:55,760
Speaker 4: Get it done, Get it done fast.

35
00:01:56,080 --> 00:01:59,960
Speaker 1: That's New York Senator Chuck Schumer. Meantime. US Transportation Secretary

36
00:02:00,080 --> 00:02:03,560
Speaker 1: Sean Duffy says Newark may see quote several weeks of

37
00:02:03,600 --> 00:02:07,600
Speaker 1: reduced capacity as officials grapple with spiraling delays and safety

38
00:02:07,680 --> 00:02:11,040
Speaker 1: lapses at one of the country's busiest hubs. Duffy spoke

39
00:02:11,080 --> 00:02:13,120
Speaker 1: earlier to NBC's Meet the Press.

40
00:02:13,040 --> 00:02:15,680
Speaker 5: What you see in Newark is going to happen in

41
00:02:15,720 --> 00:02:17,959
Speaker 5: other places across the country. It has to be fixed.

42
00:02:17,960 --> 00:02:21,200
Speaker 5: And so what we're having is some telecom issues. We're

43
00:02:21,200 --> 00:02:23,519
Speaker 5: also having some glitches in our software as the information

44
00:02:23,639 --> 00:02:27,160
Speaker 5: comes in is overloading some of our lines and the

45
00:02:27,240 --> 00:02:29,480
Speaker 5: system goes down. So I'll just tell you specifically at Newark,

46
00:02:30,480 --> 00:02:32,160
Speaker 5: we believe we're going to have it up and running

47
00:02:32,800 --> 00:02:34,760
Speaker 5: in short order. We're gonna be able to fix that glitch.

48
00:02:34,919 --> 00:02:39,200
Speaker 1: Transportation Secretary Sean Duffy, speaking to NBC, the Federal Aviation

49
00:02:39,240 --> 00:02:42,280
Speaker 1: Administration says it will be holding tons with airline officials

50
00:02:42,320 --> 00:02:46,079
Speaker 1: on May fourteenth in Washington. President Trump says on social

51
00:02:46,080 --> 00:02:48,480
Speaker 1: media he will be signing an executive order at nine

52
00:02:48,520 --> 00:02:51,720
Speaker 1: am Monday morning which will cup prescription drug prices by

53
00:02:51,800 --> 00:02:54,079
Speaker 1: mandating that the US would pay the same price for

54
00:02:54,160 --> 00:02:56,960
Speaker 1: drugs as whichever country pays the lowest prices in the world.

55
00:02:57,320 --> 00:02:59,680
Speaker 1: Trump predicts the move will lower prices by thirty to

56
00:02:59,680 --> 00:03:03,040
Speaker 1: eighty percent. The President did not, though, give specifics, such

57
00:03:03,080 --> 00:03:05,520
Speaker 1: as whether the order would be just for government programs

58
00:03:05,720 --> 00:03:09,120
Speaker 1: such as Medicare, Medicaid or across the board. A ceasefire

59
00:03:09,160 --> 00:03:11,960
Speaker 1: between Indian and Pakistan appeared to be holding after four

60
00:03:12,040 --> 00:03:14,800
Speaker 1: days of clashes that brought the two nuclear armed nations

61
00:03:14,800 --> 00:03:17,760
Speaker 1: close to full blown war. This comes after President Trump

62
00:03:17,800 --> 00:03:20,880
Speaker 1: untruth social declared that both countries had reached a quote

63
00:03:20,919 --> 00:03:24,680
Speaker 1: full and immediate ceasefire. We have more from Bloomberg's Swatty Pandy.

64
00:03:25,080 --> 00:03:29,399
Speaker 6: Some Indian officials also told Bloomberg reporters on condition of anonymity,

65
00:03:29,480 --> 00:03:32,560
Speaker 6: that they were completely caught off god by Trump's truth

66
00:03:32,639 --> 00:03:37,280
Speaker 6: social post. So there is that feeling that India and

67
00:03:37,320 --> 00:03:40,600
Speaker 6: Pakistan were put on an equal footing by the US,

68
00:03:40,760 --> 00:03:42,160
Speaker 6: which India wants to reject.

69
00:03:42,360 --> 00:03:45,800
Speaker 1: That was Bloomberg's Swaddi Pandy. The conflict has raised concerns

70
00:03:45,800 --> 00:03:48,600
Speaker 1: about the potential for future violence, with both sides having

71
00:03:48,680 --> 00:03:52,320
Speaker 1: crossed quote red lines. The legislative push for President Trump's

72
00:03:52,320 --> 00:03:55,520
Speaker 1: tax package begins in earnest this week, Bloomberg's Amy Morris

73
00:03:55,560 --> 00:03:56,680
Speaker 1: supporting from Washington.

74
00:03:56,960 --> 00:03:59,720
Speaker 4: The House Ways and Means and Energy and Commerce committees

75
00:03:59,720 --> 00:04:02,480
Speaker 4: will be and considering their respective portions of the tax

76
00:04:02,520 --> 00:04:06,360
Speaker 4: package on Tuesday. Energy and Commerce lawmakers are responsible for

77
00:04:06,360 --> 00:04:09,400
Speaker 4: finding eight hundred and eighty billion dollars in savings over

78
00:04:09,440 --> 00:04:13,200
Speaker 4: the next decade that could spark a fiery debate, especially

79
00:04:13,240 --> 00:04:16,880
Speaker 4: over cuts to Medicaid. Republicans are still debating expanding the

80
00:04:16,920 --> 00:04:20,080
Speaker 4: state and local tax deduction and restricting the estate tax.

81
00:04:20,440 --> 00:04:23,080
Speaker 4: Gob leaders have said a vote on the entire tax

82
00:04:23,120 --> 00:04:26,039
Speaker 4: and spending package will happen by the end of this month.

83
00:04:26,279 --> 00:04:28,760
Speaker 4: In Washington, Amy Morris, Bloomberg Radio in.

84
00:04:28,760 --> 00:04:32,479
Speaker 1: Sports, Sepstraca has won the truest Championship, shooting a sixteen

85
00:04:32,520 --> 00:04:35,400
Speaker 1: hundred part acclaim his second title the PGA Tour season.

86
00:04:35,920 --> 00:04:38,599
Speaker 1: And that's news when you want it with Bloomberg News Now,

87
00:04:38,880 --> 00:04:41,240
Speaker 1: I'm Dan Schwartzman, and this is Bloomberg