WEBVTT - Black Boxes Recovered from Plane Crash; Trump Barrels Toward Tariff Showdown  

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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. Here

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<v Speaker 2>are the stories we're following today.

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<v Speaker 3>Karen, we begin with the latest on the deadly plane

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<v Speaker 3>crash in Washington, d C. There are no survivors in

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<v Speaker 3>the collision between American Eagle Flight fifty three forty two

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<v Speaker 3>and an Army Blackhawk helicopter near Reagan National Airport. Todd

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<v Speaker 3>Inman with the National Transportation Safety Board says crews are

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<v Speaker 3>still pulling victims from the Potomac River.

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<v Speaker 4>We're still in a recovery mode, first and foremost to

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<v Speaker 4>get the perishable evidence and specifically the bodies out. Once

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<v Speaker 4>we get a little bit closer into that, we'll be

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<v Speaker 4>able to better understand the dynamics of what may have

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<v Speaker 4>happened upon impact.

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<v Speaker 3>Todd Inman with the NTSB says both black boxes from

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<v Speaker 3>the American Eagle flight have now been recovered. Bloomberg's Danny

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<v Speaker 3>Lee reports those have been sent to labs for evaluation.

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<v Speaker 5>This will be crucial because they can potentially start to

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<v Speaker 5>find out in the minutes before the lead up to

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<v Speaker 5>and also the seconds before, what were the conversations the

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<v Speaker 5>cockpit between the pilots, particularly with the air traffic control

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<v Speaker 5>which is under scrutiny, and also were there any warnings

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<v Speaker 5>particulars his plane would have been traveling down in the

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<v Speaker 5>dark through the very busy piece of s space.

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<v Speaker 3>Bloomberg's Danny Lee reports the NTSB could put out a

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<v Speaker 3>preliminary report on the crash within thirty days, but the

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<v Speaker 3>agency says it won't speculate about possible causes well Nathan.

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<v Speaker 2>President Trump says he does not know exactly what caused

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<v Speaker 2>the crash, but he does say he has opinions. At

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<v Speaker 2>a White House news conference, the President said diversity, equity

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<v Speaker 2>and inclusion programs may have played a role in the disaster.

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<v Speaker 6>It just could have been.

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<v Speaker 7>We have a high standard. We've had a much higher

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<v Speaker 7>standard than anybody else, and there are things where you

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<v Speaker 7>have to go by brain power, you have to go

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<v Speaker 7>by psychological equality.

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<v Speaker 2>The President also says there may have been a pilot

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<v Speaker 2>problem with a helicopter in that he didn't necessarily know

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<v Speaker 2>if it was the controller's fault. Leader President Trump signed

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<v Speaker 2>an executive order for the FAA and the Transportation Department

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<v Speaker 2>to review its hiring and safety decisions over the last

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<v Speaker 2>four years. Under the Biden administration.

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<v Speaker 3>Well, meanwhile, Karen, President Trump is poised to impose twenty

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<v Speaker 3>five percent tariffs on nine hundred billion dollars worth of

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<v Speaker 3>goods from Canada and Mexico starting tomorrow.

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<v Speaker 6>The President spoke from the Oval Office.

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<v Speaker 7>Mexico and Canada have never been good to us on trade.

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<v Speaker 7>They've treated us very unfairly on trade, and we will

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<v Speaker 7>be able to make that up very quickly because we

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<v Speaker 7>don't need the products that they have.

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<v Speaker 6>We have all the oil you need.

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<v Speaker 7>We have all the trees you need, meaning the lumber.

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<v Speaker 7>We have more than almost anybody in those two categories.

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<v Speaker 2>And Americans love of guacamole is about to be put

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<v Speaker 2>to the test. Mexico supplies upward of ninety percent of

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<v Speaker 2>the avocados Americans eat, and President Donald Trump is likely

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<v Speaker 2>to make them more expensive with this gland to slap

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<v Speaker 2>twenty five percent tariffs on Mexican imports beginning on Saturday.

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<v Speaker 2>Prices for avocados are already up fourteen percent from a

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<v Speaker 2>year ago. More pressure is coming with the Super Bowl,

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<v Speaker 2>which is my far the biggest day of the year

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<v Speaker 2>for eating avocados in the US.

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<v Speaker 3>Well, it's been a big couple of days for President

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<v Speaker 3>Trump's cabinet picks. Karen Tulcy Gabbard, the president's choice to

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<v Speaker 3>be Director of National Intelligence. She faced questions from the

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<v Speaker 3>Senate Intelligence Committee. Many of those centered on what critics

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<v Speaker 3>see is her shifting positions on intelligence collection and statement

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<v Speaker 3>sympathetic to Russia.

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<v Speaker 6>Bloomberg Zamy Morris reports from Washington.

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<v Speaker 8>Several lawmakers focused on gabbard support for NSA whistleblower, Edward Snowden,

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<v Speaker 8>who leaked classified documents then fled to Russia, where he's

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<v Speaker 8>now a citizen. Democratic Senator Michael Bennett of Colorado.

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<v Speaker 9>Is Edward Snowden a trader to the United States of America.

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<v Speaker 8>As someone who has to go on in combat, I

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<v Speaker 8>understand how critical our national security.

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<v Speaker 6>Farely you don't.

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<v Speaker 8>Gabbard's nomination is not certain, with many Republicans declining to

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<v Speaker 8>declare their support and Democrats criticizing her for appearing sympathetic

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<v Speaker 8>toward authoritarians like Russia's Vladimir Putin and Syria's Bashar al Asad.

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<v Speaker 8>In Washington, Amy Morris Bloomberg Radio.

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<v Speaker 2>All right, Amy, thank you about cash battel President Trump's picctilly.

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<v Speaker 2>The FBI also had his confirmation. Hearing, Battel insisted that

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<v Speaker 2>he did not have an enemy's list. He also said

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<v Speaker 2>he would not seek retribution against the president's adversaries or

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<v Speaker 2>launch investigations for political reasons.

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<v Speaker 10>The only thing that will matter if I'm confirmed as

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<v Speaker 10>a director of the FBI is a de weaponized, depoliticized

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<v Speaker 10>system of law enforcement, completely devoted to rigorous obedience of

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<v Speaker 10>the Constitution and a singular standard of justice.

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<v Speaker 2>Patel sought on multiple occasions to reassure Democrats that his

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<v Speaker 2>FBI would be independent from the White House. He would

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<v Speaker 2>not acknowledge that Trump had lost the twenty twenty election,

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<v Speaker 2>conceding only that Joe Biden was sworn in as president.

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<v Speaker 3>During the markets now, Karen, futures are higher. We close

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<v Speaker 3>out the trading week, thanks in part to big tech earnings.

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<v Speaker 3>Shares of Apple are hired by more than three percent.

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<v Speaker 3>The iPhone maker gave a reassuring revenue forecast for the

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<v Speaker 3>current quarter, offsetting holiday results which showed jarring declines for

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<v Speaker 3>China and the iPhone. Apple CEO Tim Cook spoke on

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<v Speaker 3>the earnings call.

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<v Speaker 9>If you look at our Greater China revenue for the quarter,

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<v Speaker 9>we were down eleven percent year over year, and over

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<v Speaker 9>half of the decline that we experienced was driven by

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<v Speaker 9>a change in channel inventory.

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<v Speaker 3>Apple CEO Tim Cook says sales this quarter will grow

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<v Speaker 3>by a percentage in the low two mid single digits, and.

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<v Speaker 2>Nathan Intel shares are up two percent. The chip maker

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<v Speaker 2>reported better than expected fourth quarter revenue, but did warrant

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<v Speaker 2>that it's pushed to become more competitive is still a

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<v Speaker 2>work in progress. However, Intel did not give a status

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<v Speaker 2>update on his search for a new CEO.

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<v Speaker 3>Now, Karen of Bloomberg News exclusive US officials are investigating

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<v Speaker 3>whether Chinese AI startup Deep Seek circum dented restrictions on

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<v Speaker 3>advanced chips from Nvidia. The Biden administration cut off China's

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<v Speaker 3>access to a range of Nvidia's most powerful chips. Now

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<v Speaker 3>we're told US officials are looking at whether they were

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<v Speaker 3>acquired through third parties in Singapore. Here's Bloomberg's Senior Executive

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<v Speaker 3>editor for Technology, Tom Giles.

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<v Speaker 11>This is a technology that deep Seek says is cheaper,

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<v Speaker 11>it was less expensive to develop, and now rivals like

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<v Speaker 11>Microsoft and Open Ai, as well as US officials including

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<v Speaker 11>the FBI and the White House the Treasury Department are

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<v Speaker 11>looking into where did they get this technology.

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<v Speaker 3>Bloomberg's Tom Giles notes President Trump's pick to lead the

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<v Speaker 3>Commerce Department, Howard Lutnick, is suggesting deep seak evaded US

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<v Speaker 3>export controls.

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<v Speaker 6>Time now for look at.

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<v Speaker 2>Some of the other stories making news in New York

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<v Speaker 2>and around the world, And for that we're joined by

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<v Speaker 2>Bloomberg's John Tucker. John, good morning, and.

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<v Speaker 6>Good morning, Karen.

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<v Speaker 12>The US figure skating community mourning the loss of fourteen

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<v Speaker 12>members who were killed aboard the American Airlines flight the

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<v Speaker 12>Colis with that Army helicopter over the Potomac. Sixteen year

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<v Speaker 12>old Spencer Lane was one of the members of USA

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<v Speaker 12>Skating who was on board. His friend and fellow skater

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<v Speaker 12>Roan Lecoq, remembered him as an inspiration.

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<v Speaker 13>He had a really great future. It was really promising

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<v Speaker 13>for him. He had a lot of potential. It's really

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<v Speaker 13>heartbreaking just knowing that this was the outcome.

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<v Speaker 12>Members of USA Skating were flying back from a competition

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<v Speaker 12>in Wichita, Kansas. The Senate has voted seventy nine to

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<v Speaker 12>eighteen to confirm former North Dakota Governor Doug Bergham as

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<v Speaker 12>Interior Secretary. This as President Trump moves forward with implementing

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<v Speaker 12>his energy agenda. Berger will oversee the Interior Department, which

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<v Speaker 12>manages more than six hundred million acres of public land

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<v Speaker 12>at all federally owned oil, natural gas, at other minerals.

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<v Speaker 12>Uber is alleging a fraud scheme by New York groups

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<v Speaker 12>faking carkrash injuries. Let's get that story this morning from

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<v Speaker 12>Bloomberg's Charlie Pellett.

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<v Speaker 14>The ride sharing giant filed a racketeer ring lawsuit against

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<v Speaker 14>a group of law firms, doctors, and pain management clinics.

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<v Speaker 14>It claims staged fake car accidents and performed unnecessary surgeries

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<v Speaker 14>to take advantage of New York's lucrative no fault insurance policies.

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<v Speaker 14>In a lawsuit filed in federal court in Brooklyn, Uber

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<v Speaker 14>said since at least twenty nineteen, the group has conspired

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<v Speaker 14>quote to exploit passengers in purported or actual minor vehicle

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<v Speaker 14>collisions in New York. Charlie Powac Bloomberg Radio.

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<v Speaker 12>And Vertex Pharmaceuticals has gained US approval for the first

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<v Speaker 12>new type of painkiller in more than two decades. It

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<v Speaker 12>pays the way for a safer alternative to addictive opioids

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<v Speaker 12>that have been linked to hundreds of thousands of deaths

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<v Speaker 12>in the US. Global news twenty four hours a day

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<v Speaker 12>and whatever you want it with Bloomberg News.

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<v Speaker 15>Now.

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<v Speaker 12>I'm John Tucker, and this is Bloomberg. Karen.

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<v Speaker 6>All right, John, thank you.

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<v Speaker 2>Time now for the Bloomberg Sports Update, brought to you

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<v Speaker 2>by Trice State Ownie. And for that we bring in

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<v Speaker 2>John Stamshower, John, good morning.

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<v Speaker 1>Good morning, Care and spring training starts in less than

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<v Speaker 1>two weeks. Still some unsigned free agents like Pete Alonzo,

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<v Speaker 1>Alex Bregman, Max Schurzer.

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<v Speaker 14>Does now have his deal.

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<v Speaker 1>At age forty, he'll pitch an eighteenth big league season

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<v Speaker 1>for the Toronto Blue Jays. It's his seventh different team.

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<v Speaker 1>Scherzia has not been healthy much of the past two seasons,

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<v Speaker 1>only made nine starts in twenty twenty.

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<v Speaker 6>Four for Texas.

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<v Speaker 1>No New York Hockey or hoop teams played tonight and

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<v Speaker 1>only one played last night. That's the Islanders made it

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<v Speaker 1>six wins in a row, three nothing at Philadelphia, twenty

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<v Speaker 1>three saves for Ilias Sirroken. The Bruins lost to Winnipeg

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<v Speaker 1>sixty two. Jets scored four in the third period. Capital's

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<v Speaker 1>lost in overtime at Ottawa in defeat. Career goal number

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<v Speaker 1>eight seventy six for Alex Loveski. He's nineteen away from

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<v Speaker 1>breaking Wayne Gretzky's record. The Lakers won by thirty eight

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<v Speaker 1>in Washington and now Lebron in La come to the

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<v Speaker 1>Garden to play the Red Hot Knicks tomorrow night. Good

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<v Speaker 1>MSG doubleheader at noon tomorrow at Saint John's, also Red Hot.

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<v Speaker 1>Taking on Providence Golf a pebble beech American Russell Henley

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<v Speaker 1>choine eight hunder sixty. Ford's got a one shot lid.

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<v Speaker 1>Rory McElroy trails by two. He started on the back

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<v Speaker 1>nine at Spyglass Hill. Here was Rory on the one

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<v Speaker 1>hundred and nineteen yard fifteenth hole, his sixth of the day.

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<v Speaker 10>Who has some adult spin control here playing downhill seven,

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<v Speaker 10>so it's one hundred and twelve yards and this looks

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<v Speaker 10>pretty good.

0:10:19.520 --> 0:10:25.559
<v Speaker 6>Hotly fluent in Ry Mcklelroy holy.

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<v Speaker 1>Cown straight in no bounced golf channel to call it's

0:10:30.559 --> 0:10:33.800
<v Speaker 1>his third career ace in a professional tournament. Later in

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<v Speaker 1>the day, Shane Lowry from Ireland also had a hole

0:10:36.400 --> 0:10:39.200
<v Speaker 1>in one on a different hole. Chaston Eagles arrived Sunday

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<v Speaker 1>in New Orleans, hosting it's eleven Super Bowl time with

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<v Speaker 1>Miami for the most. NFL says all week they'll be

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<v Speaker 1>increased security in the wake of the terror attack in

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<v Speaker 1>New Orleans. On New Year's John Stanshanwer Bloomberg Sports Kenry

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<v Speaker 1>Nathan Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and.

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<v Speaker 6>Around the world on Bloomberg dot Com and the Bloomberg

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<v Speaker 6>Business app. This is Bloomberg Dbreak. Good morning. I'm Nathan Hager.

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<v Speaker 3>The investigation continues into the crash of American Eagle Flight

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<v Speaker 3>fifty three forty two of the Blackhawk helicopter outside Washington's

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<v Speaker 3>Reagan National Airport.

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<v Speaker 6>The disaster left no survivors.

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<v Speaker 3>Investigators now have the task of determining how this could

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<v Speaker 3>have happened in one of the most closely monitored skies

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<v Speaker 3>in the country. Joining us now for the latest is

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<v Speaker 3>Benedict Commell. Once again, he's head of global aviation coverage

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<v Speaker 3>for Bloomberg News. Benedict, good morning. As we understand it now,

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<v Speaker 3>the National Transportation Safety Board says it has recovered both

0:11:35.240 --> 0:11:38.040
<v Speaker 3>black boxes from that American Eagle jet.

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<v Speaker 6>What can we expect to learn from that evidence? Good morning,

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<v Speaker 6>Good morning.

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<v Speaker 15>Yes, indeed, those two black boxes have been recovered, and

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<v Speaker 15>that is in any inquiry, and an important line. They

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<v Speaker 15>contain voices from the cockpit. They also contain key metrics

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<v Speaker 15>of the flight performance, and those will be very closely

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<v Speaker 15>read out and then sort of analyzed. That will take time,

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<v Speaker 15>and that is essentially one key line from the NTSB

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<v Speaker 15>that we heard yesterday that this is not a quick turnaround,

0:12:09.320 --> 0:12:11.679
<v Speaker 15>and it never really is. If there's one thing that

0:12:11.720 --> 0:12:15.000
<v Speaker 15>can be said about typical air disaster crashes, if there

0:12:15.080 --> 0:12:18.280
<v Speaker 15>is such a thing, is that it takes time. They

0:12:18.360 --> 0:12:23.160
<v Speaker 15>work slowly, they work methodically. These are professionals, and they

0:12:23.280 --> 0:12:26.760
<v Speaker 15>want to piece all the pieces of evidence back together.

0:12:26.960 --> 0:12:30.480
<v Speaker 15>So they said, give us time, don't rush to any

0:12:30.920 --> 0:12:33.600
<v Speaker 15>quick conclusions. And in some ways that might have been

0:12:33.880 --> 0:12:36.640
<v Speaker 15>a bit of a sort of a nod to what

0:12:36.720 --> 0:12:40.000
<v Speaker 15>happened yesterday in Washington, where there were some rather swift

0:12:40.000 --> 0:12:43.400
<v Speaker 15>pronouncements of what might have happened. So the NTSB sort

0:12:43.400 --> 0:12:45.400
<v Speaker 15>of trying to put a bit of a brake on

0:12:45.440 --> 0:12:47.880
<v Speaker 15>it all and saying, we've got this, let us do

0:12:47.920 --> 0:12:50.920
<v Speaker 15>our work. So the black boxes will be a key

0:12:51.000 --> 0:12:54.280
<v Speaker 15>feature of that. Other areas that will be looked at

0:12:54.480 --> 0:12:59.280
<v Speaker 15>is the communications between the tower and the helicopter and

0:12:59.320 --> 0:13:02.560
<v Speaker 15>the aircraft. Might one of these aircraft have been out

0:13:02.559 --> 0:13:05.720
<v Speaker 15>of position or sort of at a wrong kind of altitude?

0:13:06.640 --> 0:13:08.840
<v Speaker 15>Was that hower properly starts? So there are lots of

0:13:08.960 --> 0:13:12.040
<v Speaker 15>elements to this investigation that will be monitored in the

0:13:12.120 --> 0:13:12.960
<v Speaker 15>next couple of days.

0:13:13.000 --> 0:13:15.679
<v Speaker 3>And we well, Benedict, when can we expect to get

0:13:15.720 --> 0:13:19.320
<v Speaker 3>firmer answers from not just the NTSB, but from so

0:13:19.360 --> 0:13:22.080
<v Speaker 3>many of the other agencies involved in this investigation. The

0:13:22.080 --> 0:13:24.400
<v Speaker 3>fact that we have a black Hawk helicopter involved means

0:13:24.440 --> 0:13:26.360
<v Speaker 3>the Pentagon is part of this as well.

0:13:27.280 --> 0:13:31.000
<v Speaker 15>Yes, you're right, So it is a blend of organizations

0:13:31.000 --> 0:13:33.240
<v Speaker 15>that are monitoring this and that are going through this.

0:13:33.480 --> 0:13:36.720
<v Speaker 15>The NTSB said there will be a pullinary preliminary report

0:13:36.760 --> 0:13:39.439
<v Speaker 15>in thirty days. We don't quite know at this point

0:13:39.520 --> 0:13:43.720
<v Speaker 15>what the Pentagon will say, so won't there will be

0:13:43.760 --> 0:13:47.840
<v Speaker 15>regular updates, but a proper report that will really establish

0:13:47.920 --> 0:13:51.320
<v Speaker 15>what might have happened. That will take time. Now, you

0:13:51.440 --> 0:13:53.880
<v Speaker 15>do have the political component in this, and we've got

0:13:53.920 --> 0:13:56.960
<v Speaker 15>a taste of that yesterday in the press conference by

0:13:57.160 --> 0:14:00.480
<v Speaker 15>President Donald Trump. He was flanked by Sean Duffy, the

0:14:00.559 --> 0:14:05.640
<v Speaker 15>new Transport Secretary, and Pete hess the new Defense Secretary,

0:14:05.880 --> 0:14:07.920
<v Speaker 15>and also j Evans, the Vice President. They were all

0:14:08.000 --> 0:14:10.240
<v Speaker 15>there in the same room and they all spoke, and

0:14:10.800 --> 0:14:15.200
<v Speaker 15>that obviously gave that entire investigation a more sort of

0:14:15.240 --> 0:14:18.319
<v Speaker 15>political tint. So those are sort of the different lines

0:14:18.360 --> 0:14:22.880
<v Speaker 15>of inquiry that will happen in you know, in parallel,

0:14:23.240 --> 0:14:26.400
<v Speaker 15>the NTSB, the Pentagon, and then the political dimension.

0:14:26.640 --> 0:14:29.680
<v Speaker 3>Now, in terms of the political dimension of this, Benedict

0:14:29.760 --> 0:14:32.400
<v Speaker 3>as we heard from the President yesterday, seemed to really

0:14:32.440 --> 0:14:37.080
<v Speaker 3>single out diversity, equity and inclusion programs within the Federal

0:14:37.080 --> 0:14:38.320
<v Speaker 3>Aviation Administration.

0:14:38.520 --> 0:14:39.840
<v Speaker 6>What do we know when.

0:14:39.720 --> 0:14:44.200
<v Speaker 3>It comes to staffing at places like air traffic control.

0:14:44.880 --> 0:14:46.320
<v Speaker 15>Well, the one thing that we do know, and this

0:14:46.400 --> 0:14:49.400
<v Speaker 15>is something that the head of the FAA and others

0:14:49.480 --> 0:14:52.160
<v Speaker 15>in that kind of space have lamented in the past,

0:14:52.200 --> 0:14:55.240
<v Speaker 15>that these are agencies that are understaffed, and it's something

0:14:55.240 --> 0:14:57.040
<v Speaker 15>that has been going on for a long time. This

0:14:57.080 --> 0:15:00.400
<v Speaker 15>isn't just a recent phenomenon. This is something that's gone

0:15:00.520 --> 0:15:03.440
<v Speaker 15>on for a long time and has become more pronounced

0:15:03.720 --> 0:15:06.720
<v Speaker 15>under COVID when a lot of people left the industry

0:15:07.040 --> 0:15:10.000
<v Speaker 15>and have not returned. So this is an industry that

0:15:10.160 --> 0:15:14.520
<v Speaker 15>still struggles with chronic understaffing and as trying to get

0:15:14.560 --> 0:15:18.920
<v Speaker 15>people back in. That's what we can say definitively. Now, obviously,

0:15:18.920 --> 0:15:22.120
<v Speaker 15>Trump went one step further and said we have not

0:15:22.200 --> 0:15:24.840
<v Speaker 15>just too few people, but the wrong types of people

0:15:25.200 --> 0:15:27.440
<v Speaker 15>in these types of jobs. I mean, he said, you know,

0:15:27.520 --> 0:15:30.480
<v Speaker 15>we need brilliant people doing this that those were his words,

0:15:30.520 --> 0:15:33.400
<v Speaker 15>and he said, I'm not quite sure that we have

0:15:33.480 --> 0:15:37.080
<v Speaker 15>those types of people. So he tried to create a

0:15:37.120 --> 0:15:41.680
<v Speaker 15>link between the DEI practices under his predecessor, under President

0:15:41.720 --> 0:15:45.440
<v Speaker 15>Biden and going back as far as President Obama and

0:15:45.640 --> 0:15:50.400
<v Speaker 15>what transpired over the skies of Washington, you know, less

0:15:50.400 --> 0:15:54.040
<v Speaker 15>than forty eight hours ago. So you could say that's

0:15:54.520 --> 0:15:59.800
<v Speaker 15>an unusual politicization of the tragedy, and that is a

0:16:00.080 --> 0:16:03.600
<v Speaker 15>narrative that will be closely watched. Obviously, there's been a

0:16:03.600 --> 0:16:07.040
<v Speaker 15>lot of pushback from those targets already saying this is

0:16:07.080 --> 0:16:10.200
<v Speaker 15>a brazen attempt to beat the blame on somebody else.

0:16:10.240 --> 0:16:13.440
<v Speaker 15>So this back and forth will certainly be and remain

0:16:13.480 --> 0:16:14.960
<v Speaker 15>a feature of this investigation.

0:16:15.280 --> 0:16:18.680
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