1 00:00:02,040 --> 00:00:04,200 Speaker 1: News when you want it. With Bloomberg News Now, I'm 2 00:00:04,200 --> 00:00:07,640 Speaker 1: Doug Chrisner. We begin in Europe, where trade officials are 3 00:00:07,680 --> 00:00:10,640 Speaker 1: preparing for a possible breakdown in talks with the US 4 00:00:10,800 --> 00:00:14,240 Speaker 1: ahead of an August first deadline. President Trump is threatening 5 00:00:14,320 --> 00:00:18,599 Speaker 1: thirty percent tariffs on most European imports. Meantime, the EU 6 00:00:18,760 --> 00:00:22,079 Speaker 1: is preparing a response that could include counter tariffs and 7 00:00:22,239 --> 00:00:25,960 Speaker 1: broader trade restrictions. Speaking Sunday to CBS faced the Nation, 8 00:00:26,079 --> 00:00:29,720 Speaker 1: Commerce Secretary Howard Lutnik struck an optimistic tone. 9 00:00:29,880 --> 00:00:32,559 Speaker 2: I am confident we'll get a deal done, okay, and 10 00:00:32,600 --> 00:00:36,240 Speaker 2: it will be great for America because the President has 11 00:00:36,600 --> 00:00:39,360 Speaker 2: the back of America. So I think all these key 12 00:00:39,400 --> 00:00:42,479 Speaker 2: countries will figure out it is better to open their 13 00:00:42,600 --> 00:00:45,600 Speaker 2: markets to the United States of America than to pay 14 00:00:45,600 --> 00:00:46,640 Speaker 2: a significant tariff. 15 00:00:46,800 --> 00:00:49,760 Speaker 1: US Commerce Secretary Howard Lutnik. There he went on to 16 00:00:49,800 --> 00:00:53,200 Speaker 1: say that he had spoken to European trade negotiators early 17 00:00:53,240 --> 00:00:57,640 Speaker 1: on Sunday. Meantime, EU member states are also considering activating 18 00:00:57,680 --> 00:01:01,800 Speaker 1: the block's anti coercion powers, and that could target US 19 00:01:01,840 --> 00:01:05,440 Speaker 1: tech firms and public contracts in Europe. A spokesperson for 20 00:01:05,480 --> 00:01:09,679 Speaker 1: the European Commission declined to comment. We go to Japan next, 21 00:01:09,720 --> 00:01:13,319 Speaker 1: where Prime Minister Shigiru Ishiba says he intends to stay 22 00:01:13,360 --> 00:01:17,800 Speaker 1: on despite his ruling coalition suffering an historic setback in 23 00:01:17,920 --> 00:01:22,200 Speaker 1: Sunday's Upper House elections. The ruling Liberal Democratic Party and 24 00:01:22,240 --> 00:01:26,760 Speaker 1: its longtime partner Kometo Party failed to retain a majority 25 00:01:26,840 --> 00:01:29,360 Speaker 1: in the Upper House. That's according to the Japanese public 26 00:01:29,400 --> 00:01:34,560 Speaker 1: broadcaster NHK. Now, the outcome is likely to further unsettled 27 00:01:34,640 --> 00:01:39,240 Speaker 1: Japanese citizens and markets alike. Here is Bloomberg Asia Economy 28 00:01:39,360 --> 00:01:40,640 Speaker 1: editor Yuko Takeo. 29 00:01:41,000 --> 00:01:43,640 Speaker 3: She has already said multiple times last night that he'll 30 00:01:43,680 --> 00:01:46,520 Speaker 3: stay on despite the result, which suggests for now he'll 31 00:01:46,600 --> 00:01:50,640 Speaker 3: have to somehow cobble together enough support from opposition parties 32 00:01:51,160 --> 00:01:53,840 Speaker 3: to past legislation on a case by case basis. 33 00:01:53,880 --> 00:01:58,040 Speaker 1: That is Bloomberg Asia Economy editor Yuko Takeo speaking there now. 34 00:01:58,080 --> 00:02:02,440 Speaker 1: This outcome also makes Prime Minister Ishiba's administration the first 35 00:02:02,560 --> 00:02:06,160 Speaker 1: LDP led government to rule with a minority in both 36 00:02:06,200 --> 00:02:10,240 Speaker 1: houses since the nineteen fifties. President Trump is pushing back 37 00:02:10,320 --> 00:02:13,960 Speaker 1: on a report about his being warned that ousting Fetcher J. 38 00:02:14,120 --> 00:02:17,080 Speaker 1: Powell would be bad for markets. Earlier, The Wall Street 39 00:02:17,120 --> 00:02:21,120 Speaker 1: Journal reported in recent days, Treasury Secretary Scott Bessen privately 40 00:02:21,200 --> 00:02:24,560 Speaker 1: told Trump of the reasons for avoiding a dispute over 41 00:02:24,639 --> 00:02:28,120 Speaker 1: Powell's final ten months. They included the prospect that the 42 00:02:28,160 --> 00:02:31,120 Speaker 1: Fed is already moving to cut interest rates later this year, 43 00:02:31,600 --> 00:02:35,320 Speaker 1: and the likely political and legal obstacles that such a 44 00:02:35,360 --> 00:02:38,280 Speaker 1: move would face. But later, in a post on truth 45 00:02:38,360 --> 00:02:42,040 Speaker 1: Social Trump called the Wall Street Journal quote typically untruthful. 46 00:02:42,440 --> 00:02:45,040 Speaker 1: Trump went on to say he knows better than anyone 47 00:02:45,120 --> 00:02:47,920 Speaker 1: what's good for markets, touting the recent record highs for 48 00:02:47,960 --> 00:02:52,120 Speaker 1: the major stock indices. President Trump is targeting the NFL's 49 00:02:52,280 --> 00:02:56,040 Speaker 1: Washington Commanders over their twenty twenty name change. In a 50 00:02:56,040 --> 00:02:58,840 Speaker 1: post on truth Social, Trump said he may put a 51 00:02:58,960 --> 00:03:01,480 Speaker 1: restriction on the team if they do not change the 52 00:03:01,600 --> 00:03:05,320 Speaker 1: name back to the Washington Redskins. The team underwent a 53 00:03:05,400 --> 00:03:08,679 Speaker 1: review in the summer of twenty twenty given civil unrest 54 00:03:08,760 --> 00:03:12,840 Speaker 1: and race related protest over the police killing of George Floyd. 55 00:03:13,200 --> 00:03:16,960 Speaker 1: Now Back then, investor groups and Native American foundations called 56 00:03:17,000 --> 00:03:21,760 Speaker 1: on sponsors like FedEx, Nike, and PepsiCo to pressure ownership 57 00:03:21,800 --> 00:03:24,880 Speaker 1: to change the team's branding. Trump also called on the 58 00:03:25,000 --> 00:03:28,520 Speaker 1: MLB's Cleveland Guardians to revert to their old moniker, the 59 00:03:28,560 --> 00:03:32,240 Speaker 1: Cleveland Indians. Now both organizations have long been at odds 60 00:03:32,280 --> 00:03:36,880 Speaker 1: with Native American groups over what they called derogatory team branding. 61 00:03:37,280 --> 00:03:39,720 Speaker 1: As we head into a busy week for corporate earnings, 62 00:03:39,760 --> 00:03:43,400 Speaker 1: there are also some economic data to watch for. Bloomberg's 63 00:03:43,440 --> 00:03:44,920 Speaker 1: Karen Moscow has a preview. 64 00:03:45,040 --> 00:03:47,800 Speaker 4: Monday we get the Index of Leading Economic Indicators, and 65 00:03:47,960 --> 00:03:51,080 Speaker 4: Tuesday we'll hear from FED Shared Jerown Powell. He gives 66 00:03:51,160 --> 00:03:53,840 Speaker 4: welcome re marks at a conference focused on the regulatory 67 00:03:53,880 --> 00:03:57,640 Speaker 4: capital framework for large banks. Wednesday is existing home sales, 68 00:03:57,680 --> 00:04:01,119 Speaker 4: as well as earnings from Alphabet, Tesla and IB. Thursday 69 00:04:01,160 --> 00:04:04,160 Speaker 4: it's new home sales, the Weekly Report and initial jobless 70 00:04:04,160 --> 00:04:08,720 Speaker 4: claims in SMP Global Manufacturing PMI will also hear from Intel. 71 00:04:09,040 --> 00:04:13,200 Speaker 4: Durable goods orders are out on Friday. Karen Moscow, Bloomberg Radio. 72 00:04:12,960 --> 00:04:16,040 Speaker 1: Scotti Scheffler is the winner of the British Open. Here 73 00:04:16,120 --> 00:04:18,880 Speaker 1: is Scheffler reacting to his victory at a press conference. 74 00:04:19,120 --> 00:04:21,599 Speaker 1: It's a very special feeling. It takes a lot of 75 00:04:21,600 --> 00:04:23,280 Speaker 1: work to get to this point in my career, and 76 00:04:23,560 --> 00:04:25,400 Speaker 1: this was a tough week. It was challenging. The golf 77 00:04:25,440 --> 00:04:27,680 Speaker 1: course was playing really tough, and I had to focus 78 00:04:27,760 --> 00:04:29,520 Speaker 1: very hard over the course of the weekend. This is 79 00:04:29,520 --> 00:04:32,640 Speaker 1: Scheffler's second major victory this year and the third leg 80 00:04:32,680 --> 00:04:35,320 Speaker 1: of the career Grand Slam. And that is news when 81 00:04:35,360 --> 00:04:38,080 Speaker 1: you want it with Bloomberg News. Now, I'm Doug prisoner 82 00:04:38,120 --> 00:04:39,080 Speaker 1: and this is Bloomberg