Speaker 1: News when you want it with Bloomberg News Now I'm
Speaker 1: in kleggy. Some of Nvidia's biggest customers have been told
Speaker 1: that the prices of servers containing its artificial intelligence chips
Speaker 1: are going up more than fifteen percent in many cases,
Speaker 1: with memory chip costs soaring. The price hikes will go
Speaker 1: into effect on system shipped early next year and will
Speaker 1: impact systems, including those with the flagship via Reuben and
Speaker 1: Grace Blackwell chips. This according to people familiar with the
Speaker 1: process who asked not to be identified commenting on communications
Speaker 1: that have not yet been made public. They say the
Speaker 1: increases will depend on the generation of Invidio chips and
Speaker 1: the memory configurations. Canadian Prime Minister Mark Carney says retaliatory
Speaker 1: tariffs on US goods will take effect September eighth, after
Speaker 1: Canada got hit with fifty percent tariffs on billions of
Speaker 1: dollars of goods, Carney called it a bad deal.
Speaker 2: For over a year, Canada has worked intensively and in
Speaker 2: good faith with the United States to negotiate a new
Speaker 2: comprehensive trade deal. We've been pragmatic, patient and persistent. We
Speaker 2: pursued every opportunity to reach an agreement that protects Canadian
Speaker 2: workers and their families, that strengthens our economy, and that
Speaker 2: respects Canadian sovereignty.
Speaker 1: Trump administration officials have promised to present President Trump with
Speaker 1: options to escalate. We're learning more about what broke down
Speaker 1: trade talks between the US and Canada, Bloomberg's Monika Rix reports.
Speaker 3: Sources tell Bloomberg talks collapse Friday night in part from
Speaker 3: a last minute standoff over cutting US tariffs on Canadian
Speaker 3: medium and heavy duty vehicles, ranging from pickup trucks to
Speaker 3: commercial vehicles. Both countries had an outline of a deal
Speaker 3: which would have lowered tariffs from twenty five to fifteen
Speaker 3: percent on steel, aluminum, and lumber, as well as regular
Speaker 3: auto tariffs, but Canada wanted that relief to expand to
Speaker 3: bigger vehicles. Ford's new plant in Ontario makes FAE three
Speaker 3: fifties and larger pickup trucks that are now subject to
Speaker 3: even higher duties. Monica Ricks, Bloomberg Radio.
Speaker 1: Jonathan Levin is a columnist for Bloomberg Opinion and focuses
Speaker 1: on US markets and economics. He says President Trump's tariff
Speaker 1: tie rate is not temporary. American consumers could be dealing
Speaker 1: with the repercussions for years.
Speaker 4: There's a sense that tariff passed through is over. It's
Speaker 4: no longer an inflation story. But I think if you
Speaker 4: look deep into the consumer basket in the United States,
Speaker 4: you see that we're still living with many of the
Speaker 4: ramifications of the decisions that were made in twenty twenty five.
Speaker 1: Jonathan Levin on Bloomberg This weekend, a scrap with Canada,
Speaker 1: one of the top sources of US imports, threatens to
Speaker 1: fuel voters' concerns with high prices and could cloud the
Speaker 1: path with the Federal Reserve to bring down borrowing costs.
Speaker 1: President Trump made more than one thousand security strains in June,
Speaker 1: including significant purchases of Berkshire, Hathaway, Visa, MasterCard and sentas.
Speaker 1: This is according to a financial disclosure published Saturday. The
Speaker 1: transactions totaled between seventy eight point one million and two
Speaker 1: hundred and sixty three point one million dollars. In the
Speaker 1: filing published by the US Office of Government Ethics, which
Speaker 1: shows a range for each transaction rather than exact numbers,
Speaker 1: The largest transaction was a June twenty second salem between
Speaker 1: five million and twenty five million dollars of shares in
Speaker 1: a Vanguard exchange traded fund. Trump made more than twenty
Speaker 1: one thousand securities trades in twenty twenty five, often in
Speaker 1: bursts tied to market events he created. The total value
Speaker 1: of the trades he made in twenty twenty five was
Speaker 1: between six hundred million and one point eighty six billion,
Speaker 1: occasionally showing buying and selling of the same security on
Speaker 1: the same day. Today's Trade news with Canada caps a
Speaker 1: chaotic week for the US economy, including Treasury Secretary Scott
Speaker 1: Besson's plan to more than double bond buybacks to help
Speaker 1: reduce long term borrowing costs. Barry Rithols', host of the
Speaker 1: Bloomberg Master's in Business podcasts.
Speaker 5: All of the mayhem around tarifs on tariffsaw off, what
Speaker 5: country can sends stuff without taffts? What can has very
Speaker 5: much interfered with the normal flow of goods, and so
Speaker 5: that's making inflation all the more stickier. To say nothing
Speaker 5: about energy prices in the war, So the question becomes
Speaker 5: what can the government? What can the Central bank do
Speaker 5: about it?
Speaker 1: Barry Ridholts on Bloomberg this weekend, yields have been rising
Speaker 1: over concerns about the national debt inflation and a flood
Speaker 1: of debt from tech companies investing heavily in AI. The
Speaker 1: New York Times reports the federal judge Fronie struck down
Speaker 1: the Trump administration's ban on issuing visas to immigrants from
Speaker 1: seventy five countries, finding that the policy was contrary to
Speaker 1: law and beyond the legal authority of Secretary of State
Speaker 1: Mark Rubio. In a sixty one page ruling, Judge Jeannett A.
Speaker 1: Vargas of the Federal District Court for the Southern District
Speaker 1: of New York disputed the administration's public rationale for the policy,
Speaker 1: builled as a pause that immigrants from the targeted countries
Speaker 1: were likely to draw public benefits and become a financial
Speaker 1: burden to Americans. That's news when you want it with
Speaker 1: Bloomberg News. Now I'm in Kleggi. This is Bloomsberg