WEBVTT - US Support for Ukraine Stalls; Trump Readies for Tariffs on Allies

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow.

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<v Speaker 3>Here are the stories we're following today.

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<v Speaker 2>Karen, we begin with the Oval Office feud that drew

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<v Speaker 2>global attention and concern from American allies. Ukrainian President Vladimir

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<v Speaker 2>Zelenski left the White House without a minerals deal Friday.

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<v Speaker 2>After that public clash with President Trump and Vice President

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<v Speaker 2>j d Vance, Zelenski expressed doubt about Trump's efforts to

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<v Speaker 2>negotiate with Russia. Trump accused Zelensky of disrespecting the US

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<v Speaker 2>Director of National Intelligence. Tulci Gabbert told Fox News Sunday,

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<v Speaker 2>mending ties with Zelensky won't be easy.

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<v Speaker 4>There's going to have to be a rebuilding of any

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<v Speaker 4>kind of interest in good faith negotiations. I think before

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<v Speaker 4>President Trump is going to be willing to re engage

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<v Speaker 4>on this.

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<v Speaker 2>Those comments from Tulci Gabbert, heard here on Bloomberg Radio,

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<v Speaker 2>were echoed by Secretary of State Marco Rubio, so he

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<v Speaker 2>says Zelenski needs to come to the realization that America.

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<v Speaker 5>Is trying to help.

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<v Speaker 2>Responding to a question from the BBC in London, President

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<v Speaker 2>Zelensky said he is willing to meet President Trump again

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<v Speaker 2>if invited.

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<v Speaker 5>Perhaps there is a need thenlyst certain things, but I

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<v Speaker 5>would but just one Ukraine.

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<v Speaker 2>Head speaking through an interpreter there, President Zelenski added Ukraine

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<v Speaker 2>is ready to sign the natural resources deal that was

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<v Speaker 2>put on hold last week.

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<v Speaker 3>Well over the weekend, Nathan, UK Prime Minister, kir Starmer

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<v Speaker 3>and other European leaders used a security summit in London

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<v Speaker 3>to demonstrate broad support for Ukraine, but behind the scenes

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<v Speaker 3>they were pushing to get Vladimir Zelensky back to the

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<v Speaker 3>table with President Trump. Speaking after the summit, Starmer said

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<v Speaker 3>that uk and France are now working on a plan

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<v Speaker 3>to secure Ukraine after any US brokers ceasefire.

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<v Speaker 6>It's time to act, time to step up and lead

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<v Speaker 6>and to unite around a new plan for a just

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<v Speaker 6>an enduring piece and here.

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<v Speaker 3>Starmer's comments came as French President Emanuel mccrun said the

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<v Speaker 3>two leaders are working on a plan to secure a

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<v Speaker 3>one month truce in Ukraine. In an interview with Le

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<v Speaker 3>Figaro newspaper, Macron said the potential truce would include ground

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<v Speaker 3>and maritime operations, as well as energy infrastructure.

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<v Speaker 2>Also happening in geopolitics, Karen, President Trump will soon place

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<v Speaker 2>twenty five percent tariffs on most imports from Canada and

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<v Speaker 2>Mexico and double an existing ten percent levy on China.

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<v Speaker 2>Those new tariffs are due to kick in tomorrow. Commerce

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<v Speaker 2>Secretary Howard Lutnik tells Fox News President Trump could yet

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<v Speaker 2>change his mind on Mexico and Canada.

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<v Speaker 7>He's sort of thinking about right now how exactly he

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<v Speaker 7>wants to play it with Mexico and Canada, and that

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<v Speaker 7>is a fluid situation. There are going to be tariffs

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<v Speaker 7>on Tuesday on Mexico and Canada. Exactly what they are,

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<v Speaker 7>We're going to leave that for the President and his

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<v Speaker 7>team to negotiate.

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<v Speaker 2>Commerce Secretary Letnik says how Canada and Mexico have done

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<v Speaker 2>a lot to address issues like immigration and drug trafficking.

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<v Speaker 3>Meanwhile, in DC, Nathan, this promises to be a busy

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<v Speaker 3>week in the US capital, especially tomorrow, and Bloomberg's Amy

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<v Speaker 3>Morris has more from Washington.

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<v Speaker 4>The Supreme Court is expected to hear arguments over gun

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<v Speaker 4>violence liability. The Mexican government is suing for billions of

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<v Speaker 4>dollars in damages and changes to American firearms regulation. But

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<v Speaker 4>Tuesday night, President Trump will address a joint session of Congress. Technically,

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<v Speaker 4>it won't be a State of the Union because Trump

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<v Speaker 4>wasn't president last year. Listen out for results on the

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<v Speaker 4>government efficiency efforts in effect for the past several weeks,

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<v Speaker 4>and a potential government shutdown is now just two weeks away.

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<v Speaker 4>In Washington. Amy Moore as Bloomberg Radio.

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<v Speaker 3>All right, Amy, thank you, and you can hear President

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<v Speaker 3>Trump's remarks to Congress with a special edition of Bloomberg

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<v Speaker 3>Balance of Power starting tomorrow at eight pm Wall Street

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<v Speaker 3>Time here on Bloomberg Radio and on the Bloomberg Podcast

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<v Speaker 3>page on YouTube.

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<v Speaker 2>Well Karen, Crypto recouped some of its losses from last

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<v Speaker 2>week with a Sunday post from President Trump. Let's get

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<v Speaker 2>more on what the President had to say from Bloomberg's

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<v Speaker 2>John Tucker Come Morning.

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<v Speaker 8>John Goring Nathan Trump once again talked up his plan

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<v Speaker 8>for a strategic crypto reserve, a truth social The President

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<v Speaker 8>said his January Executive Order on Crypto directed the Presidential

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<v Speaker 8>Working Grypto move forward on a crypto strategic reserve that

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<v Speaker 8>includes more tokens like soul, XRP, and Ada. Trump also

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<v Speaker 8>said bitcoin and ether would be included. In the reserve,

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<v Speaker 8>helping those coins recover some of last week's seep declines.

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<v Speaker 8>A lot of the details of the president's plan are unknown,

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<v Speaker 8>including how much the government will actually buy and how

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<v Speaker 8>the purchases would be funded. The Bloomberg Galaxy Crypto index

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<v Speaker 8>that sank twenty eight percent in February, its worst month

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<v Speaker 8>since the crypto winter of twenty twenty two. Bitcoin this

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<v Speaker 8>morning down two and a half percent, just over ninety

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<v Speaker 8>one thousand dollars in New York Times, John Tucker, Bloomberg Radio, All.

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<v Speaker 3>Right, John, thank you well. Andrew Cuomo has made it official.

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<v Speaker 3>He's running for mayor of New York City. We get

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<v Speaker 3>more now from Bloomberg's Kimberly Adams.

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<v Speaker 9>The former three term governor of New New York who

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<v Speaker 9>resigned in twenty twenty one amid multiple allegations of sexual harassment,

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<v Speaker 9>joined an already crowded field of challengers buying to unseed

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<v Speaker 9>incumbent Mayor Eric Adams ahead of the June twenty fourth

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<v Speaker 9>Democratic primary.

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<v Speaker 10>I know what needs to be done, and I know

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<v Speaker 10>how to do it, and I will give it my

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<v Speaker 10>all to get the job done, and it will get done.

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<v Speaker 9>Quomo's decision to run, rumored for more than a year,

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<v Speaker 9>up ends the race to lead the biggest US city.

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<v Speaker 9>Several polls have shown him leading the field, which includes

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<v Speaker 9>Adams City Comptroller Brad Lander, former comptroller Scott Stringer, and

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<v Speaker 9>former hedge fund manager Whitney Tilson. In New York, Kimberley Adams,

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<v Speaker 9>Bloomberg Radio.

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<v Speaker 2>All Right, Kim, thank you me Weill. In the Middle East,

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<v Speaker 2>Israel says it is blocking all humanitarian aid into Gaza

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<v Speaker 2>after the first stage of the ceasefire with Hamas expired

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<v Speaker 2>early yesterday. Hamas has rejected a US led proposal to

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<v Speaker 2>extend the truce till the middle of next month. Saudi

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<v Speaker 2>Arabia and Egypt are both criticizing Israel. They say aide

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<v Speaker 2>should not be used for quote collect punishment lover.

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<v Speaker 3>In Europe, Nathan former Barclay's chief Jess Staley, will begin

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<v Speaker 3>a legal showdown today over his friendship with sex offender

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<v Speaker 3>Jeffrey Epstein and Bloomberg's t you Are at a Baio as.

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<v Speaker 11>More, Staley will go to court to challenge a lifetime

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<v Speaker 11>ban from the UK finance industry and findings that he

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<v Speaker 11>recklessly misled regulators about his links to Epstein. It will

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<v Speaker 11>be the former CEO's first public testimony about the event

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<v Speaker 11>since his resignation in twenty twenty one. Up to this point,

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<v Speaker 11>Staley has maintained he cut direct contact with the financier

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<v Speaker 11>before taking his post. Witnesses who could be called include

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<v Speaker 11>some of the sector's most eminent figures. Bank of England

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<v Speaker 11>Governor Andrew Bailey and Barclay's chairman Nigel Higgins in London,

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<v Speaker 11>tea at a Baio Bloomberg Radio.

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<v Speaker 5>Ni Tiwa, thank you. We've got some news from space.

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<v Speaker 5>This morning.

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<v Speaker 2>Firefly Aerospace has successfully landed its first robotic spacecraft on

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<v Speaker 2>the Moon, marks the second time a commercial lander has

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<v Speaker 2>pulled off. The feet is more comp but he's try

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<v Speaker 2>to reach the lunar surface ahead of future human landings.

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<v Speaker 2>Following the launch January fifteenth, Firefly's Blue Ghost Lander touchdown

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<v Speaker 2>early yesterday morning. The spacecraft is carrying ten tools and

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<v Speaker 2>experiments built by NASA, including a drill that will bury

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<v Speaker 2>itself into the lunar soil to test the Moon's temperature.

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<v Speaker 3>And Finally, Nathan and Nora has dominated the ninety seventh

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<v Speaker 3>Academy Awards, winning five honors, including Best Picture. The film's

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<v Speaker 3>star Mikey Madison took home a Best Leading Actress award

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<v Speaker 3>and thanked Sean Baker, who won Best Director.

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<v Speaker 9>This is a dream come true. I'm probably going to

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<v Speaker 9>wake up tomorrow.

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<v Speaker 11>Thank you so much, Sean.

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<v Speaker 1>I adore you.

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<v Speaker 3>And alongside Madison, Adrian Brody picked up his second career

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<v Speaker 3>OSCAR for Best Leading Actor in The Brutalist. And for

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<v Speaker 3>those streaming this ceremony, Disney's Hulu experienced technical difficulties, preventing

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<v Speaker 3>tens of thousands of paying customers from accessing the service.

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<v Speaker 3>The issue was resolved after about two hours. Time now

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<v Speaker 3>for another look at some other stories making news in

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<v Speaker 3>New York and around the world, and for that we're

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<v Speaker 3>joined by Bloomberg's Michael Maher Michael, good Morning.

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<v Speaker 6>Good Morning. Karen Moore on the Oscar, Zoe's Aldana won

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<v Speaker 6>Best Supporting Actress, delivering a heartfelt speech thanking your family.

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<v Speaker 1>I am the first American of Dominican origin to accept

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<v Speaker 1>an Academy Warren.

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<v Speaker 5>I know I will not be the last.

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<v Speaker 6>Karen Coulkin won for Best Supporting Actor. During his acceptance speech,

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<v Speaker 6>Coulkin said his wife promised they'd have a fourth child

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<v Speaker 6>if you won an Oscar.

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<v Speaker 4>She said, I will give you four when you win

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<v Speaker 4>an Oscar.

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<v Speaker 7>I held my.

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<v Speaker 5>Hand out, she shook it, and I have not brought

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<v Speaker 5>it up once until just now.

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<v Speaker 6>The ceremony also honored the men and women who battled

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<v Speaker 6>the recent Los Angeles wildfires. Morgan Freeman took the stage

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<v Speaker 6>to introduce a in memoriam segment with a tribute to

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<v Speaker 6>his friend, the late Gene Hackman. The ninety five year

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<v Speaker 6>old two time Oscar winner and his wife were dead

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<v Speaker 6>alongside one of their dogs at their Santa Fe home

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<v Speaker 6>last week. Their bodies were found at least nine days

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<v Speaker 6>after their depths. Based on Heckman's pacemaker activity, both tested

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<v Speaker 6>negative of carbon monoxide poisoning, but medical toxicologist doctor Stephanie

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<v Speaker 6>Whitmer says an autopsy will be needed to rule out

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<v Speaker 6>carbon monoxide.

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<v Speaker 12>The longer that time goes by without carbon monoxide being tested,

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<v Speaker 12>the less likely it is to show up.

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<v Speaker 5>It may have diffused out of the body.

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<v Speaker 6>Emergency medicine physician doctor Stephanie Whitmer Cruise battled wildfires in

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<v Speaker 6>North and South Carolina amid dry conditions and gusty winds

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<v Speaker 6>as residents were forced to evacuate in some areas. In

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<v Speaker 6>South Carolina, Governor Henry McMaster declared a state of emergency

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<v Speaker 6>to support the response effort, and a statewide burning band

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<v Speaker 6>remain in effect. This woman says, it has been a

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<v Speaker 6>surreal experience.

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<v Speaker 12>And then they get them under control, and then it

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<v Speaker 12>starts up again. It just keeps going. They get them

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<v Speaker 12>down the fires, but you see the smooke, and then

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<v Speaker 12>within hours later it relights again.

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<v Speaker 6>In North Carolina, evacuations for the town of try And

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<v Speaker 6>remained in fact. Global news twenty four hours a day

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<v Speaker 6>and whenever you want it with Bloomberg News. Now, I'm

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<v Speaker 6>Michael Barr, and this is Bloomberg Carrot.

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<v Speaker 3>All right, Michael Barr, thank you, and it's time now

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<v Speaker 3>for the Bloombergy Sports Update, brought to you by Tri

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<v Speaker 3>State Odie. Here's John Stashauer. John, Good morning, Hey.

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<v Speaker 13>Good morning, John. What a weekend for the next Friday

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<v Speaker 13>in Memphis, they trailed almost the whole game, came from

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<v Speaker 13>twelve down, won by a point. Last night in Miami,

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<v Speaker 13>they didn't take their first lead until there were three

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<v Speaker 13>minutes to go in regulation and they had one point

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<v Speaker 13>trailed by nineteen. The Knicks in heat went to overtime.

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<v Speaker 14>They got a hurry to get it across from mid court,

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<v Speaker 14>though he does with bridgets inside.

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<v Speaker 3>He added over.

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<v Speaker 14>Four point lead no timeouts for Miami. Heiro with ten

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<v Speaker 14>spins away from heart.

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<v Speaker 9>How the file has to.

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<v Speaker 14>Launch kick it up three bound towns cluck wanting down

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<v Speaker 14>Towns tribbles it out the next pull off their biggest

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<v Speaker 14>come back fit of the season.

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<v Speaker 13>On MSG won sixteen, won twelve the finals. Jalen Brunson

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<v Speaker 13>scored thirty one points and Ojeonanoviy added twenty three, and

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<v Speaker 13>the Knicks are now forty and twenty. Cleveland is fifty

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<v Speaker 13>to ten. The cavs tenth straight win came from eighteen

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<v Speaker 13>down beat Portland. That was also a ot battle of

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<v Speaker 13>the NBA's last two champions. Celtics beat Denver one ten

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<v Speaker 13>one oh three, Lakers beat the Clippers. Luca Downson scored

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<v Speaker 13>twenty nine at the Gardener shut out for Jonathan Quick,

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<v Speaker 13>Rangers blank Nashville four nothing, Devil's got shut out to nothing,

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<v Speaker 13>lost in Vegas, and the Bruins were blank lost one

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<v Speaker 13>nothing at Minnesota. The Washington Commanders this past season went

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<v Speaker 13>from four wins to fourteen, and now they've given their

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<v Speaker 13>young quarterback Jayden Daniels a nice weapon, acquiring Whiteout Deebo

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<v Speaker 13>Samuel from the forty nine ers for a fifth round

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<v Speaker 13>draft pick. The Trader will come official next week in

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<v Speaker 13>Palm Beach. Joe high Smith with a second straight round

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<v Speaker 13>of sixty four, one of the cognitisant Golf by two shots.

0:12:07.160 --> 0:12:10.000
<v Speaker 13>It's his first PGA Tour victory. Jake Napp, who had

0:12:10.040 --> 0:12:12.000
<v Speaker 13>that fifty nine in the opening round, still had the

0:12:12.160 --> 0:12:15.040
<v Speaker 13>lead until the eleventh hole when he put two shots

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<v Speaker 13>in the water.

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<v Speaker 5>And had a triple boom. John Stashie, We're Bloomberg Sports

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<v Speaker 5>are Nikan.

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<v Speaker 1>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

0:12:25.960 --> 0:12:28.800
<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 5>Good morning, I'm Nathan Hager.

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<v Speaker 2>After last week's Oval Office blow up between President Trump

0:12:36.360 --> 0:12:40.079
<v Speaker 2>and Ukrainian President Vladimir Zelenski, European nations are racing to

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<v Speaker 2>assemble what they're calling a Coalition of the willing to

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<v Speaker 2>support Ukraine and bring in peacekeeping troops in the event

0:12:45.520 --> 0:12:49.480
<v Speaker 2>of a ceasefire with Russia. Canadian Prime Minister Justin Trudeau

0:12:49.520 --> 0:12:51.160
<v Speaker 2>says his nation is willing.

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<v Speaker 5>We're going to.

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<v Speaker 15>Continue to be there to support Ukraine as necessary, with

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<v Speaker 15>whatever it takes, for as long as it takes, because

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<v Speaker 15>Ukraine is not just defending it its own territories, defending

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<v Speaker 15>the very principles and values that underpin all of our democracies.

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<v Speaker 2>Canadian Prime Minister Justin Trudeau spoke at a weekend security

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<v Speaker 2>summit in London, and for more. We're joined this morning

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<v Speaker 2>by Bloomberg New senior writer Stephanie Baker, the author of

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<v Speaker 2>the book Punishing Putin.

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<v Speaker 5>Stephanie, good morning.

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<v Speaker 2>I guess the big question now is whether the US

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<v Speaker 2>can be part of a coalition of the willing after

0:13:23.160 --> 0:13:26.080
<v Speaker 2>that blow up. What's it going to take to get

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<v Speaker 2>everyone back on the same page after what we saw

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<v Speaker 2>in the Oval Office last Friday?

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<v Speaker 16>Right, Well, you see UK Prime Minister Cure Starmer and

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<v Speaker 16>French President Emmanuel Macron trying to reset relations. They tried

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<v Speaker 16>to arrange for the Ukrainian President Vladimir Zelensky to go

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<v Speaker 16>back to Washington this weekend.

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<v Speaker 5>That did not work.

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<v Speaker 16>Trump administration officials are insisting on an apology. Zelenski is

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<v Speaker 16>saying he didn't see any need to apologize. Zelensky has

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<v Speaker 16>also rejectedsals from Manuel Macron and kir Starmer for a

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<v Speaker 16>one month UH ceasefire for air see and infrastructure in Ukraine.

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<v Speaker 16>I think there's a fundamental difference here between how Zolensky

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<v Speaker 16>sees these peace negotiations going ahead and how the Trump

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<v Speaker 16>administration does. Zolensky believes that a mere ceasefire that stops

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<v Speaker 16>the fighting without security guarantees leaves Ukraine vulnerable to another

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<v Speaker 16>attack from Russia. I think Trump thinks it a quick

0:14:32.920 --> 0:14:35.600
<v Speaker 16>deal where they stop the fighting, it is worth worth

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<v Speaker 16>going ahead with, and has been very vague and back

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<v Speaker 16>and forth on security guarantees. Has has not been explicit

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<v Speaker 16>about his willingness to provide those that US backstop that

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<v Speaker 16>Starmer really wants for any kind of peace European peacekeeping

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<v Speaker 16>force in Ukraine, and that is the fundamental problem here.

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<v Speaker 2>Yeah, it seems as though President Trump is indicating that

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<v Speaker 2>the economic buy in might be enough in terms of

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<v Speaker 2>the US having some kind of skin in the game

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<v Speaker 2>after the security conference. Though in Europe is this potentially

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<v Speaker 2>pitting the European side against the US.

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<v Speaker 16>Now It is revealing the divisions, and I think Europe

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<v Speaker 16>is realizing that they need to get their act together

0:15:24.080 --> 0:15:28.280
<v Speaker 16>and start investing in defense because they can't be relying

0:15:28.360 --> 0:15:33.600
<v Speaker 16>on the US anymore. Zelensky has said he is willing

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<v Speaker 16>to sign this deal with the US, this mineral rights

0:15:38.480 --> 0:15:41.680
<v Speaker 16>deal with the US. I think there was a line

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<v Speaker 16>added to that agreement, to the revised version of that agreement,

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<v Speaker 16>that provided some language on security guarantees, although.

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<v Speaker 9>It's really quite vague.

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<v Speaker 16>I mean, remember, just the fact that there is US

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<v Speaker 16>economic or business interests in Ukraine is not a real

0:15:56.480 --> 0:16:01.480
<v Speaker 16>security guarantee. Just think of Kuwait. A rock invaded Kuwait

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<v Speaker 16>when there were US oil companies operating there. That did

0:16:04.360 --> 0:16:07.920
<v Speaker 16>not provide a real security guarantee. And I think Zelensky

0:16:08.040 --> 0:16:12.320
<v Speaker 16>is right to be skeptical that that would be enough

0:16:12.480 --> 0:16:16.200
<v Speaker 16>to deter Putin from trying to launch another invasion or

0:16:16.360 --> 0:16:17.320
<v Speaker 16>violate the ceasefire.

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<v Speaker 3>This is Bloomberg Daybreak, your morning podcast on the stories

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<v Speaker 2>Bray