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

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Speaker 1: Charlie Pellett. Defense Secretary Pete Hegseth has directed the active

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Speaker 1: duty military to shed twenty percent of its four star

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Speaker 1: general officers as the Trump administration moves forward with deep

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Speaker 1: cuts that it says will promote efficiency, but the critics

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Speaker 1: worry could result in a more politicized force.

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Speaker 2: More generals and admirals does not equal more success. Now,

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Speaker 2: this is not a slash and burn exercise meant to

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Speaker 2: punish high ranking officers. Nothing could be further from the truth.

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Speaker 2: This has been a deliberated process, working with the Joint

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Speaker 2: Chiefs of Staff with one goal maximizing strategic readiness and

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Speaker 2: operational effectiveness by making prudent reductions in the general and

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Speaker 2: flag officer ranks.

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Speaker 1: Heg Seth also told the National Guard to shed twenty

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Speaker 1: percent of its top positions. The Trump administration is declaring

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Speaker 1: Harvard University ineligible for new research grants from the federal

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Speaker 1: government in the latest escalation between the White House and

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Speaker 1: the Ivy League. School. Sources tell Bloomberg air traffic controllers

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Speaker 1: at Newark Liberty International Airport lost radar and radio communication

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Speaker 1: for over a minute early last week, causing flight delays

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Speaker 1: and cancelations. Senate Minority Leader Chuck Schumer wants the federal

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Speaker 1: government to look into what happened.

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Speaker 3: Look, the Inspector General is supposed to be an independent agency.

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Speaker 3: That's their job to look into this. They're familiar with

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Speaker 3: what goes on there. The Inspector General is the appropriate

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Speaker 3: place to have an investigation. And my office has been

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Speaker 3: in touch with the FAA on numerous occasions about these problems.

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Speaker 1: Senate Minority Leader Chuck Schumer. After the Bell, Ford pulled

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Speaker 1: its outlook and with more Here's Bloomberg Stan Schwartzmann Ford.

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Speaker 4: Motor has suspended its full year financial guidance due to

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Speaker 4: auto tariffs. The carmaker says it expects to take a

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Speaker 4: one and a half billion dollar hit to overall earnings

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Speaker 4: due to those tariffs. Had originally forecast around eight and

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Speaker 4: a half billion dollars of earnings for this year. The

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Speaker 4: company cited seven factors and withdrawing its earlier forecast, including

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Speaker 4: potential quote industry wide supply chain disruption tied to the

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Speaker 4: president's duties, as well as the risk that levies may

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Speaker 4: increase in the future. In New York, Dan Schwartzman Bloomberg Radio.

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Speaker 1: Shares of Disney and Netflix both declined after President Trump

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Speaker 1: announced a plan to increase film and TV production in

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Speaker 1: the US. He'll be imposing eight one hundred percent tariff

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Speaker 1: on movies produced overseas.

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Speaker 5: We're going to meet with the industry. I want to

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Speaker 5: make sure they're happy with it, because we're all about jobs.

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Speaker 5: That's what I'm you know, it's very important. It's a

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Speaker 5: big industry, but it's an industry now that's it's really left,

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Speaker 5: its abandoned the USA.

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Speaker 1: And with more. Here's Bloomberg's Alexandra Semanova.

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Speaker 6: This is the latest industry to get whipsawd by tariff headlines.

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Speaker 6: Stocks in that segment had been falling today after that

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Speaker 6: announcement from President Trump on Sunday that he plans to

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Speaker 6: impose one percent tariff on films produced overseas. This extends

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Speaker 6: his restrictive trade policies to this industry for the first time.

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Speaker 6: Netflix was down one point nine percent today. Disney not

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Speaker 6: too bad, just slightly lower, about zero point four percent.

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Speaker 6: But it seems like a lot of people in the

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Speaker 6: film and entertainment industry are trying to figure out what

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Speaker 6: exactly he means by this. He said that he would

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Speaker 6: meet with executives later on to provide a little bit

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Speaker 6: more clarity.

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Speaker 1: Studios aren't producing more projects in countries such as Canada,

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Speaker 1: New Zealand and the UK because it's cheaper to do so.

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Speaker 1: Up next for Wall Street, the US trade deficit and

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Speaker 1: forecasters say it probably ballooned in March, and with more.

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Speaker 1: Here's Bloomberg's Vinnie del Judice.

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Speaker 7: White House tariffs are disrupting global commerce. American businesses big

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Speaker 7: and small have been stepping up the pace of inbound shipments.

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Speaker 7: Advanced government data show imports of consumer goods posted a

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Speaker 7: record increase in March. Bloomberg Economics sees the import trend

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Speaker 7: ship THINGUS tariffs take hold, noting a drop in container

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Speaker 7: arrivals from China since mid April. Any Darl Jude Ice

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Speaker 7: Bloomberg Radio.

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Speaker 1: It was a down day on Wall Street ahead of

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Speaker 1: a two day FED meeting. The Dow, the SMP, and

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Speaker 1: Nestak all declined, with the SMP down thirty six, a

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Speaker 1: drop of six tents of warm percent. The Dow was

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Speaker 1: down ninety eight, down two tenths of warm percent, Nestack

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Speaker 1: down one hundred and thirty three, a drop of seven

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Speaker 1: tenths of one percent. And that's news when you want it.

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Speaker 1: With Bloomberg News Now, I'm Charlie Pella. Tennis is Bloomberg