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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. President Trump is expected to announce a trade

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Speaker 1: agreement with the United Kingdom at a news conference Thursday

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Speaker 1: morning in Washington. This according to people familiar with the matter.

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Speaker 2: Now.

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Speaker 1: Trump did tease the announcement in a social media post,

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Speaker 1: saying he would hold an Oval Office news conference to

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Speaker 1: discuss quote a major trade deal with representatives of a

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Speaker 1: big and highly respected country. The Trump administration plans to

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Speaker 1: rescind Biden era AI chip curbs as part of a

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Speaker 1: broader effort to revise semiconductor trade restrictions. Bloomberg's Dan Flatley

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Speaker 1: says there are a lot of moving parts ahead of

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Speaker 1: trade talks this weekend with China.

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Speaker 3: So I think one of the theories of the case

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Speaker 3: is that maybe you loosen up some of the restrictions

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Speaker 3: on these chips for allies countries in the Middle East

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Speaker 3: being one of one of the potential one of those

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Speaker 3: potential allies or that group of allies, and maybe tighten

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Speaker 3: them a little bit for China. Of course, all of

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Speaker 3: this is happening in the context of broader trade talks

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Speaker 3: that were expecting this weekend in Switzerland between the US

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Speaker 3: and China.

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Speaker 1: Bloomberg's Dan Flatley in New York City, more than seventy

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Speaker 1: people have been arrested after masked protesters occupied Columbia University's

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Speaker 1: main library. Police entered Butler Library hours after protesters, many

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Speaker 1: wearing face coverings, took over part of the building and

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Speaker 1: draped Palestinian flags along its walls. The student watched it

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Speaker 1: all unfold. We saw that they were preparing for something.

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Speaker 4: They came from different sides of the campus, so it

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Speaker 4: looked like they had definitely planned it before and orchestrated

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Speaker 4: it before.

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Speaker 1: The incident risks, sparking further ire from the Trump administration,

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Speaker 1: which canceled four hundred million dollars in federal funding to

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Speaker 1: Columbia after accusing the school of failing to protect Jewish students.

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Speaker 1: The White House has also gone after Harvard, Princeton, Northwestern,

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Speaker 1: Cornell and other schools. Pakistan says it reserves the right

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Speaker 1: to retaliate after India launch targeted strikes, signaling a potential

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Speaker 1: further escalation and hostilities between the nuclear arm rivals following

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Speaker 1: last month's deadly Kashmir attacks. Bloomberg's Courtney McBride says these

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Speaker 1: two countries have gone down this path before.

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Speaker 5: In twenty nineteen they came pretty close. It seemed to

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Speaker 5: all out war. There was also a shootdown, a capturing

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Speaker 5: of an Indian pilot by Pakistan. Ultimately, they did step

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Speaker 5: back from the brink, and that's certainly the hope this

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Speaker 5: time as well.

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Speaker 1: Bloomberg's Courtney McBride, interviewed on balance of power Fetchair, J

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Speaker 1: Powell says he will not lower borrowing costs until there's

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Speaker 1: more certainty on the direction of trade policy, which will

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Speaker 1: have to come from the White House.

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Speaker 6: The new administration is in the process of implementing substantial

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Speaker 6: policy changes in four distinct areas trade, immigration, fiscal policy,

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Speaker 6: and regulation. The tariff increases and outs so far have

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Speaker 6: been significantly larger than anticipated. All these policies are still evolving, however,

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Speaker 6: and their effects on the economy remain highly uncertain.

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Speaker 1: Reaction to the FED decision from Diane Swank, chief economist

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Speaker 1: at KPMG, who was asked about the risk of recession.

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Speaker 7: Barview has been the risk is sixty percent for some

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Speaker 7: time now, and I would bet that polymarkets are probably

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Speaker 7: back up to sixty percent. They had slowed come down

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Speaker 7: just a little below that. In recent weeks with Hope

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Speaker 7: so more toned down rhetoric with regard to trade tensions,

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Speaker 7: and now that's being unwound today.

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Speaker 1: KPMG chief economist Diane Swank, former New York Fed president

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Speaker 1: and Bloomberg Opinion cottonnist Bill Dudley says the Fed can't

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Speaker 1: make pottlec because they don't know what will happen next.

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Speaker 1: He says they can't look ahead a month, a quarter,

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Speaker 1: or a year.

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Speaker 2: No, no way, I mean, I think the only thing

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Speaker 2: we can say is that the economy, like Chirpaul said,

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Speaker 2: is the economy right now, it seems to still be

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Speaker 2: in good shape. I think the most important thing I

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Speaker 2: took away from the press conference that people should take

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Speaker 2: on board is the fact that don't take the first

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Speaker 2: quarter GDP at faith value.

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Speaker 1: Economists meanwhile, are forecasting US jobless claims probably declined last

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Speaker 1: week and with more. Here's Bloomberg's Vinnidell Judaice.

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Speaker 4: In the Prairie Report, initial jobless claims roast a two

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Speaker 4: hundred and forty one thousand, the high since February. New

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Speaker 4: York City public school workers furloughed during spring break were

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Speaker 4: eligible for benefits just the same. Recent data have been tame.

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Speaker 4: Bloomberg Economics notes federal government job cuts have yet to

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Speaker 4: have a significant impact on the claims data. Many federal

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Speaker 4: workers are unpaid leave or receiving severance payments. Annie Dyl

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Speaker 4: Judaice Bloomberg Radio.

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Speaker 1: US stocks gained, with the S and P five hundred

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Speaker 1: index up twenty four points, up four tenths of one percent,

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Speaker 1: The Dow was up two hundred and eighty four, up

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Speaker 1: seven tenths, and NEASDAK was up three tenths of one percent.

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Speaker 1: And that's news when you want it with Bloomberg News Now.

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Speaker 1: I'm Charlie Pelatan. This is Bloomberg