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

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Speaker 1: Doug Prisner, and we begin with the move to punish

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Speaker 1: Vladimir Putin over his escalating attacks on Ukraine. Today, President

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Speaker 1: Trump threatened Russia with one hundred percent secondary tariffs if

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Speaker 1: Putin doesn't agree to a cease fire within fifty days.

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Speaker 1: We got reaction from Angela's Stent, she is senior fellow

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Speaker 1: at the Brookings Institution, the saying.

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Speaker 2: That Russia has fifty days to end the war.

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Speaker 3: You have to realize that Russia is now in the

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Speaker 3: middle of a very brutal summer offensive, and if you

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Speaker 3: give them fifty days, the summer will be over by then.

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Speaker 2: So Russia can still do an enormous amount of damage

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Speaker 2: to Ukraine in those fifty days.

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Speaker 1: Angela's Stent their senior fellow at the Brookings Institution. Now,

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Speaker 1: at the same time, today Trump announced a new military

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Speaker 1: aid package for Ukraine. It includes advanced air defense systems.

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Speaker 1: Trump emphasized the US would not fund these weapons directly,

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Speaker 1: since NATO allies will cover the cost instead. Here is

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Speaker 1: NATO's Secretary General Mark Ruta.

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Speaker 4: This is building all the tremendous success of the NATO

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Speaker 4: summit the five percent, but also the decision to keep

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Speaker 4: Ukraine strong and the decision to increase our defense industrial production.

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Speaker 4: So based on debt, that was europe stepping up. This

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Speaker 4: is again Europeans stepping up.

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Speaker 1: NATO chief Mark Ruta there now. Today's move comes after

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Speaker 1: the US paused direct weapons deliveries to Ukraine on concern

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Speaker 1: over stockpiles. In Nvidia is planning to resume sales of

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Speaker 1: its H twenty AI accelerator to China. The company says

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Speaker 1: it's received assurances from the US government that it will

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Speaker 1: be granted licenses. Here is Bloomberg Stephen Engel.

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Speaker 2: Essentially, according to this blog post, being allowed to be

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Speaker 2: sold into China again is a big development for in Nvidia.

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Speaker 2: They were saying they were warning the expert curves on

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Speaker 2: the Age twenty Essentially could you see sales in the

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Speaker 2: second quarter dropped by eight billion dollars because of that.

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Speaker 2: So this is a big revenue source that was essentially

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Speaker 2: cut off by the export controls.

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Speaker 1: That was Bloomberg Steven Engel. Last week, in Vidia CEO

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Speaker 1: Jensen Wang met with President Trump, and this week Wang

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Speaker 1: is in Beijing to attend a large supply chain expo.

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Speaker 1: Wang is told in Vidia customers that the company is

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Speaker 1: applying for new H twenty licenses to sell in China

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Speaker 1: and he's expecting those to be granted and he's hoping

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Speaker 1: to resume deliveries soon. President Trump saying today there's still

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Speaker 1: room for trade talks with Europe, but he's also insisting

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Speaker 1: his letters outlining new tariff rates are final. Trump told

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Speaker 1: reporters on Monday the EU wants a different kind of

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Speaker 1: agreement and confirmed that officials from Europe are coming to negotiate.

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Speaker 1: Here is Bloomberg's Josh Wingrove in Washington.

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Speaker 5: These letters have been a bargaining tactic, and that one

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Speaker 5: landing in particular in the middle of what have been

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Speaker 5: negotiations between the US and the EU. And that's important

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Speaker 5: because other letters to smaller economies have not really, you know,

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Speaker 5: been that circumstance. They've just sort of they've been maybe

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Speaker 5: token negotiations at most, and the letters seem to be,

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Speaker 5: you know, the last word, or at least one of

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Speaker 5: the last words.

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Speaker 1: That was Bloomberg's Josh Wing Grove. And now we're being

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Speaker 1: told the European Union has finalized a list of countermeasures

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Speaker 1: to target US goods worth eighty four billion dollars. This

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Speaker 1: would include Boeing Aircraft, automobiles and Bourbon. Wall Street will

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Speaker 1: be locked in on big bank earnings this week. NADIA

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Speaker 1: level is senior equity strategist at UBS Financial Services.

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Speaker 3: When you think about it from a trading standpoint, trade

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Speaker 3: and revenue should be strong. We had a volatile second quarter,

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Speaker 3: marcus are at all time highs capital market activity improvements

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Speaker 3: the whole lot of room to go. We're starting to

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Speaker 3: see m ANDA activity pick up as well. But I think,

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Speaker 3: you know, looking beyond just during the season for banks

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Speaker 3: in particular, in financials in particular off thesis, there is

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Speaker 3: really about deregulation.

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Speaker 1: That is NADIA level from UBS. By the way, JP,

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Speaker 1: Morgan Citygroup, and Wells Fargo are all set to report

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Speaker 1: before the opening of the equity market Tuesday. So we

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Speaker 1: know that Trump administration has been using tariff policy as

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Speaker 1: a way to get leverage in negotiations with US trading partners.

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Speaker 1: A new survey from twenty two v Research shows investors

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Speaker 1: see the average effective tariff rates settling down at around

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Speaker 1: seventeen percent, and the participants in the survey are also

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Speaker 1: estimating that tariffs will add about twenty eight basis points

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Speaker 1: to core inflation this year. Speaking of inflation tomorrow, we'll

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Speaker 1: get the reading on June consumer prices. We have a

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Speaker 1: preview from Bloomberg's Charlie Pellett.

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Speaker 6: Wall Street will be focused on how much of an

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Speaker 6: uptick we might see an inflation because of tariffs. Christina

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Speaker 6: Hooper is chief market strategist at Man Group.

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Speaker 7: We could certainly get a significantly higher number if we

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Speaker 7: look at the Cleveland Fed now cast core CPI is

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Speaker 7: tracking at about three percent year over year.

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Speaker 6: Economists survey by Bloomberg are looking for a year over

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Speaker 6: year gain in the core CPI excluding food and Energy

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Speaker 6: of two point nine percent in New York. Charlie Pellett,

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Speaker 6: Bloomberg Radio.

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Speaker 1: In sports, there is an MLB All Star Home run

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Speaker 1: Derby champion. Here is the call from ESPN.

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Speaker 2: No, it will not get out.

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Speaker 7: The Dominican dominance comes to an end. The big Dumper

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Speaker 7: is your home run Derby champion for twenty twenty five.

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Speaker 1: Seattle's Cal Raley beat Tampa Bay's Junior Camenero in the finals.

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Speaker 1: And that is news when you want it. With Bloomberg

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Speaker 1: News Now, I'm Doug Krisner, and this is Bloomberg New