1
00:00:02,520 --> 00:00:07,040
Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.

2
00:00:10,039 --> 00:00:13,200
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

3
00:00:13,200 --> 00:00:14,960
Speaker 2: are the stories we're following today.

4
00:00:15,360 --> 00:00:18,760
Speaker 3: Karen, the Global Sella follows the announcement that Wall Street

5
00:00:18,800 --> 00:00:22,280
Speaker 3: and the world had been waiting for four weeks. President

6
00:00:22,320 --> 00:00:25,560
Speaker 3: Trump is raising tariffs around the world on a day

7
00:00:25,600 --> 00:00:28,200
Speaker 3: he is dubbed Liberation Day for America.

8
00:00:28,440 --> 00:00:32,319
Speaker 4: April second, twenty twenty five will forever be remembered as

9
00:00:32,360 --> 00:00:38,480
Speaker 4: today American industry was reborn, the day America's destiny was reclaimed,

10
00:00:39,080 --> 00:00:44,040
Speaker 4: and the day that we began to make America wealthy again.

11
00:00:45,000 --> 00:00:47,400
Speaker 3: In remarks from the White House Rose Garden heard here

12
00:00:47,400 --> 00:00:50,559
Speaker 3: on Bloomberg, the President announced at least a ten percent

13
00:00:50,640 --> 00:00:54,200
Speaker 3: tariff on all exporters to the US. About sixty nations

14
00:00:54,200 --> 00:00:57,240
Speaker 3: will see even higher duties. The biggest target of all

15
00:00:57,520 --> 00:01:00,840
Speaker 3: is China. The President says, Beijing charges the US an

16
00:01:00,840 --> 00:01:02,920
Speaker 3: effective sixty seven percent rate.

17
00:01:03,560 --> 00:01:06,120
Speaker 4: So sixty seven percent, so we're going to be charging

18
00:01:06,520 --> 00:01:09,480
Speaker 4: a discounted reciprocal tariff of thirty four percent.

19
00:01:09,520 --> 00:01:09,880
Speaker 5: I think.

20
00:01:10,319 --> 00:01:13,240
Speaker 4: In other words, they charge us we judge m chuge mls.

21
00:01:13,319 --> 00:01:14,720
Speaker 4: So how could anybody be upset?

22
00:01:14,920 --> 00:01:19,600
Speaker 3: President Trump is also slapping higher duties on the European Union, Japan, Vietnam,

23
00:01:19,640 --> 00:01:23,560
Speaker 3: and more. All together, Bloomberg Economics estimates the effective tax

24
00:01:23,600 --> 00:01:26,440
Speaker 3: rate on more than three trillion dollars in imported goods

25
00:01:26,640 --> 00:01:29,320
Speaker 3: could rise to about twenty three percent. That is the

26
00:01:29,400 --> 00:01:31,200
Speaker 3: highest in more than a century.

27
00:01:31,800 --> 00:01:35,120
Speaker 2: Well iven, President Trump's tariffs have drawn a sharp reaction

28
00:01:35,240 --> 00:01:38,959
Speaker 2: on Capitol Hill. House Minority Leader Hankem Jeffries spoke out

29
00:01:39,040 --> 00:01:41,600
Speaker 2: even before the president's announcement.

30
00:01:41,360 --> 00:01:45,080
Speaker 6: This is not liberation Day, It's recession day.

31
00:01:46,959 --> 00:01:49,600
Speaker 7: In the United States of America. That's what the Trump

32
00:01:49,720 --> 00:01:53,440
Speaker 7: tariffs are going to do, crash the economy.

33
00:01:53,840 --> 00:01:57,880
Speaker 2: How's Minority Leader Hankem Jeffries. Republicans are mostly standing behind

34
00:01:57,920 --> 00:02:00,880
Speaker 2: the president. Ashley Davis is a GEOP. He's strategist and

35
00:02:00,960 --> 00:02:02,400
Speaker 2: partner at S three Group.

36
00:02:02,600 --> 00:02:04,920
Speaker 8: He's ran on this for the last four years.

37
00:02:04,960 --> 00:02:07,240
Speaker 2: Really is that he needs to make sure that the

38
00:02:07,280 --> 00:02:11,560
Speaker 2: other countries are paying what they deserve Republicans strategist Ashley Davis.

39
00:02:11,600 --> 00:02:15,160
Speaker 2: But not every Republican is on board. Kentucky Senator Ran

40
00:02:15,320 --> 00:02:18,679
Speaker 2: Paul says tariffs are just another tax on Americans.

41
00:02:19,000 --> 00:02:21,880
Speaker 4: Republicans used to be in Conservatives and particularly used to

42
00:02:21,880 --> 00:02:24,200
Speaker 4: be against new taxes. I don't think it's going to

43
00:02:24,200 --> 00:02:25,880
Speaker 4: be good for us politically, but it's not good for

44
00:02:25,880 --> 00:02:26,560
Speaker 4: the country either.

45
00:02:27,000 --> 00:02:30,359
Speaker 2: Senator Ran Paul and three other Republicans joined with Democrats

46
00:02:30,360 --> 00:02:33,440
Speaker 2: on a bill opposing President Trump's tariffs on Canada. The

47
00:02:33,480 --> 00:02:36,040
Speaker 2: bill is not likely to pass in the House.

48
00:02:35,919 --> 00:02:39,880
Speaker 3: Well, Karen, President Trump's historic action risks inducing a worldwide

49
00:02:39,919 --> 00:02:43,040
Speaker 3: trade war marked by tit for tax strikes. We spoke

50
00:02:43,120 --> 00:02:46,280
Speaker 3: with Treasury Secretary Scott Besson, who urged other countries not

51
00:02:46,480 --> 00:02:47,400
Speaker 3: to fight back.

52
00:02:47,680 --> 00:02:51,480
Speaker 9: I would advise none of the countries to panic. I

53
00:02:51,560 --> 00:02:56,120
Speaker 9: wouldn't try to retaliate because as long as you don't retaliate,

54
00:02:56,320 --> 00:02:59,480
Speaker 9: this is the high end of the number, and I

55
00:02:59,520 --> 00:03:03,560
Speaker 9: think there could have certainty that this is the number

56
00:03:03,680 --> 00:03:04,720
Speaker 9: barring retaliation.

57
00:03:05,000 --> 00:03:07,560
Speaker 3: Treasury Secretary Scott Besson went on to leave the door

58
00:03:07,600 --> 00:03:11,200
Speaker 3: open to negotiations, telling Bloomberg quote, We'll see with regard

59
00:03:11,280 --> 00:03:13,440
Speaker 3: to further talks. You can hear the full interview with

60
00:03:13,440 --> 00:03:16,080
Speaker 3: Scott Besant on the Bloomberg Talks podcast and watch it

61
00:03:16,120 --> 00:03:18,800
Speaker 3: on the Bloomberg podcast page on YouTube.

62
00:03:19,280 --> 00:03:22,799
Speaker 2: So, Nathan, let's get the reaction from other countries around

63
00:03:22,880 --> 00:03:26,160
Speaker 2: the world. Our first stop brings US to Asia, where

64
00:03:26,320 --> 00:03:28,960
Speaker 2: China has been the biggest target of Trump tariffs, and

65
00:03:29,000 --> 00:03:32,280
Speaker 2: Bloomberg deal Desis joins US from Hong Kong with more Jill.

66
00:03:32,840 --> 00:03:35,360
Speaker 8: Yes, well, I think it's a lot to really digest

67
00:03:35,360 --> 00:03:37,760
Speaker 8: here out of Asia. On the one hand, you do

68
00:03:37,880 --> 00:03:42,080
Speaker 8: see those really high tariffs on China. This thirty four

69
00:03:42,160 --> 00:03:45,000
Speaker 8: percent increase that Trump is now putting on China. If

70
00:03:45,040 --> 00:03:47,360
Speaker 8: you were to take that into tality with all of

71
00:03:47,400 --> 00:03:50,520
Speaker 8: the other levees that Trump has put on China that

72
00:03:50,800 --> 00:03:53,400
Speaker 8: the US has put on China over the last several

73
00:03:53,440 --> 00:03:56,240
Speaker 8: months years, you're looking at somewhere in the neighborhood of

74
00:03:56,440 --> 00:03:58,840
Speaker 8: the average US tariff on Chinese goods being at least

75
00:03:58,880 --> 00:04:03,040
Speaker 8: sixty five percent according to some economists. Bloomberg Economics estimates

76
00:04:03,040 --> 00:04:05,360
Speaker 8: that as a result, that could lead to a one

77
00:04:05,400 --> 00:04:08,440
Speaker 8: to two percentage point loss to growth in China. So

78
00:04:08,600 --> 00:04:11,560
Speaker 8: certainly a big metric there that you're really looking at.

79
00:04:11,600 --> 00:04:14,280
Speaker 8: Of course, we haven't really heard from China yet what

80
00:04:14,400 --> 00:04:18,479
Speaker 8: their definitive actions will be to counter these tariffs. The

81
00:04:18,680 --> 00:04:21,200
Speaker 8: Ministry of Foreign Affairs has said that there are going

82
00:04:21,200 --> 00:04:23,040
Speaker 8: to be measures coming, we're just waiting to see them.

83
00:04:23,080 --> 00:04:25,800
Speaker 8: But I would draw your attention, Karen too, elsewhere in

84
00:04:25,839 --> 00:04:29,760
Speaker 8: Asia where you're also seeing incredibly high rates and likely

85
00:04:29,839 --> 00:04:32,960
Speaker 8: even you know, higher economic shocks. Vietnam, for example, they

86
00:04:33,000 --> 00:04:35,560
Speaker 8: were hit with a forty six percent tariff in this

87
00:04:35,680 --> 00:04:38,880
Speaker 8: latest round. I mean, this is a country that you

88
00:04:38,920 --> 00:04:41,719
Speaker 8: know is incredibly export dependent. They're among the world's most

89
00:04:41,760 --> 00:04:44,920
Speaker 8: trade dependent nations. Or exports were equivalent to nearly ninety

90
00:04:44,920 --> 00:04:47,679
Speaker 8: percent of economic output. I think that's why you're seeing

91
00:04:47,720 --> 00:04:50,719
Speaker 8: such a big market reaction in that particular country today. So,

92
00:04:51,000 --> 00:04:53,159
Speaker 8: you know, just a couple of examples there, but obviously

93
00:04:53,200 --> 00:04:56,279
Speaker 8: all across Asia, we're seeing a lot of different economic shocks,

94
00:04:56,320 --> 00:04:59,440
Speaker 8: just as nations respond to these tariffs that just been announced.

95
00:05:00,360 --> 00:05:03,240
Speaker 3: Jill desis with the reaction from Hong Kong. Jill, thank you.

96
00:05:03,360 --> 00:05:06,560
Speaker 3: Now let's head to Europe get the reaction there. Bloomberg Daybreak,

97
00:05:06,560 --> 00:05:10,520
Speaker 3: you're a banker. Caroline Hepger is in London with the latest.

98
00:05:10,560 --> 00:05:12,919
Speaker 3: Good morning, Caroline, good morning, Nathan and Karen.

99
00:05:12,960 --> 00:05:16,039
Speaker 10: President Trump called the EU pathetic again and that the

100
00:05:16,080 --> 00:05:19,560
Speaker 10: block rips off the US, as he imposed twenty percent

101
00:05:19,640 --> 00:05:23,640
Speaker 10: tariffs on EU goods exported to America. The EU argues

102
00:05:23,680 --> 00:05:26,839
Speaker 10: that America exports plenty of its services to the block

103
00:05:27,120 --> 00:05:29,560
Speaker 10: and that it is the biggest single market in the

104
00:05:29,600 --> 00:05:32,200
Speaker 10: world now. EU trade ministers are due to meet on

105
00:05:32,240 --> 00:05:35,480
Speaker 10: Monday to discuss their response. Meanwhile, in the early hours

106
00:05:35,480 --> 00:05:39,279
Speaker 10: this morning, Commissioned President as to Leavondeline warned that US

107
00:05:39,320 --> 00:05:42,160
Speaker 10: actions would deal a blow to the global economy, and

108
00:05:42,240 --> 00:05:44,799
Speaker 10: she urged further negotiations.

109
00:05:45,279 --> 00:05:48,400
Speaker 11: We have always been ready to negotiate with the United

110
00:05:48,480 --> 00:05:52,520
Speaker 11: States to remove the remaining barriers to transatlantic trade. At

111
00:05:52,520 --> 00:05:56,480
Speaker 11: the same time, we are prepared to respond. We are

112
00:05:56,640 --> 00:06:00,680
Speaker 11: already finalizing the first package of countermeasures in response to

113
00:06:00,800 --> 00:06:05,240
Speaker 11: tariff's on steel, and we're now preparing for further countermeasures

114
00:06:05,440 --> 00:06:08,400
Speaker 11: to protect our interests and our businesses.

115
00:06:08,680 --> 00:06:14,080
Speaker 10: If negotiations fails, Vonderline speaking there the tariffs could wipe

116
00:06:14,120 --> 00:06:16,719
Speaker 10: out the growth forecast by the ECB for this year

117
00:06:17,000 --> 00:06:20,120
Speaker 10: and in twenty twenty six. Markets now see another rate

118
00:06:20,240 --> 00:06:24,080
Speaker 10: cut in April as likely. Bloomberg Economics sees the tariffs

119
00:06:24,120 --> 00:06:27,320
Speaker 10: cutting EU goods exports to the US by half in

120
00:06:27,400 --> 00:06:30,839
Speaker 10: the medium term. By comparison, here in the UK, we

121
00:06:30,920 --> 00:06:34,839
Speaker 10: were dealt with a bit more leniently, a ten percent tariff.

122
00:06:35,080 --> 00:06:38,440
Speaker 10: Some including business lobby see it as a benefit from

123
00:06:38,440 --> 00:06:41,799
Speaker 10: Prime Minister Keir Starmer's pragmatic approach to the White House.

124
00:06:41,920 --> 00:06:44,800
Speaker 10: The UK Trade Secretary Jonathan Reynolds has told Bloomberg just

125
00:06:44,800 --> 00:06:48,200
Speaker 10: this morning that Britain is still confident that tariffs will

126
00:06:48,240 --> 00:06:52,039
Speaker 10: come off, and yet the US is inflicting pain on

127
00:06:52,080 --> 00:06:55,520
Speaker 10: some of its closest allies. All told, it's more than

128
00:06:55,640 --> 00:06:56,960
Speaker 10: just an economic shock.

129
00:06:57,120 --> 00:06:59,840
Speaker 2: All right, Caroline, thank you well early Trump to targets

130
00:07:00,080 --> 00:07:03,840
Speaker 2: hitded On in Mexico escaped the new round of tariff announcements.

131
00:07:03,880 --> 00:07:06,080
Speaker 2: We spoke with Ontario Premier Doug Ford.

132
00:07:06,839 --> 00:07:10,080
Speaker 5: I would highly recommend to the Prime Minister not the

133
00:07:10,160 --> 00:07:15,000
Speaker 5: retaliate and let's carry on a strong relationship. Let's build

134
00:07:15,280 --> 00:07:20,360
Speaker 5: the aim can fortress American Canadian fortress around both countries

135
00:07:20,400 --> 00:07:24,000
Speaker 5: and be the wealthiestmans, prosperous, safest two countries in the world.

136
00:07:24,440 --> 00:07:28,000
Speaker 2: Ontario Premier Doug Ford, speaking of the Bloomberg's Balance of power.

137
00:07:28,240 --> 00:07:31,240
Speaker 2: While no new tariffs were announced to other levies Trump

138
00:07:31,320 --> 00:07:35,440
Speaker 2: has already imposed on Canadian and Mexican goods remain intact.

139
00:07:35,200 --> 00:07:37,480
Speaker 3: And Karen Well stocks are selling off around the world.

140
00:07:37,520 --> 00:07:40,280
Speaker 3: The US has been the hardest hit so far. Let's

141
00:07:40,280 --> 00:07:43,240
Speaker 3: continue our coverage now with Bloomberg's John Tucker.

142
00:07:43,360 --> 00:07:45,800
Speaker 12: John, all right, Nathan, Let's do the biggest losers in

143
00:07:45,840 --> 00:07:48,600
Speaker 12: the US. These are the companies most exposed in that

144
00:07:48,840 --> 00:07:51,320
Speaker 12: source a lot of their products from Asia, such as

145
00:07:51,440 --> 00:07:55,200
Speaker 12: Apple and some of its magnificent seven cohorts of the

146
00:07:55,200 --> 00:07:58,160
Speaker 12: new tariffs will reach thirty four percent for China. Apple

147
00:07:58,360 --> 00:08:02,320
Speaker 12: still produces the mudjority of its US OL devices in

148
00:08:02,440 --> 00:08:07,080
Speaker 12: Chinese factories. India, where Apple's increasingly building iPhones and air pods,

149
00:08:07,400 --> 00:08:10,600
Speaker 12: that's getting a twenty six percent TEARFF. And then there's Vietnam,

150
00:08:10,640 --> 00:08:14,040
Speaker 12: where the company now makes air pods, iPads, Apple watches,

151
00:08:14,080 --> 00:08:16,840
Speaker 12: and max that'll be hit with a forty six percent tax.

152
00:08:17,160 --> 00:08:17,360
Speaker 7: Now.

153
00:08:17,440 --> 00:08:20,480
Speaker 12: Apple shares this morning in the pre market down close

154
00:08:20,560 --> 00:08:24,920
Speaker 12: to seven percent. Then there's in Vidia. In Vidia the

155
00:08:24,960 --> 00:08:28,560
Speaker 12: most actively traded pre market. It relies on China for

156
00:08:28,680 --> 00:08:32,079
Speaker 12: AI Chip sales of those shares right now down three

157
00:08:32,240 --> 00:08:35,240
Speaker 12: point three percent. Let's move on to the world's largest

158
00:08:35,240 --> 00:08:38,600
Speaker 12: footwear and apparel companies also facing a shock to their

159
00:08:38,600 --> 00:08:42,400
Speaker 12: supply chains. Nike makes many of its sneakers in Vietnam,

160
00:08:42,920 --> 00:08:46,320
Speaker 12: and Nike shares pre market they are down eight point

161
00:08:46,400 --> 00:08:50,199
Speaker 12: four percent. Lululemon Athletico, which makes forty percent of its

162
00:08:50,200 --> 00:08:54,880
Speaker 12: products in Vietnam seventeen percent in Cambodia, tumbled almost ten

163
00:08:54,920 --> 00:08:58,400
Speaker 12: percent in late trading. Shares of Abercrombie and Fitch, they

164
00:08:58,400 --> 00:09:01,160
Speaker 12: get thirty five percent of their merchandise from Vietnam A

165
00:09:01,280 --> 00:09:04,839
Speaker 12: fell seven point seven percent. And then Gap, which buys

166
00:09:04,880 --> 00:09:08,240
Speaker 12: twenty seven percent of its goods from Vietnamese factories at

167
00:09:08,360 --> 00:09:12,559
Speaker 12: nineteen percent from Indonesia. That's slid about eleven percent. You

168
00:09:12,640 --> 00:09:15,080
Speaker 12: know you yor income, John Tucker, Bloomberg Radio.

169
00:09:15,000 --> 00:09:17,880
Speaker 2: All right, John, thank you well. Shortly after midnight, US

170
00:09:17,960 --> 00:09:21,640
Speaker 2: auto import tariffs went into effect. Meanwhile, one industry was

171
00:09:21,679 --> 00:09:24,640
Speaker 2: spared for now, and Bloomberg Lisa Matteo joins us with

172
00:09:24,720 --> 00:09:26,240
Speaker 2: the very latest Lisa.

173
00:09:26,080 --> 00:09:26,680
Speaker 13: Hey there, Karen.

174
00:09:26,720 --> 00:09:29,200
Speaker 14: So let's start with the most recent chain, the twenty

175
00:09:29,200 --> 00:09:32,959
Speaker 14: five percent tariff on US auto imports. Now, it's expected

176
00:09:33,000 --> 00:09:36,160
Speaker 14: to increase costs and disrupt industry supply chains. But what's

177
00:09:36,200 --> 00:09:38,920
Speaker 14: more certain auto parts will also be hit with a

178
00:09:38,960 --> 00:09:42,200
Speaker 14: similar level no later than May third. And this morning

179
00:09:42,200 --> 00:09:45,079
Speaker 14: you already have Volkswagen already announcing it plans to add

180
00:09:45,160 --> 00:09:48,040
Speaker 14: import fees to the sticker prices of its vehicles that

181
00:09:48,040 --> 00:09:51,080
Speaker 14: are shipped into the US. Now, Volkswagen shares down about

182
00:09:51,080 --> 00:09:53,640
Speaker 14: half a percent. In Germany, you have Ford off about

183
00:09:53,640 --> 00:09:56,960
Speaker 14: half a percent, General Motors down one percent, Tesla is

184
00:09:57,040 --> 00:10:00,360
Speaker 14: lower by three percent. Chrysler Parents still land. It was

185
00:10:00,400 --> 00:10:03,079
Speaker 14: down nearly two percent yesterday. This morning it's up about

186
00:10:03,080 --> 00:10:05,760
Speaker 14: three tens of percent before the belt. The only good

187
00:10:05,800 --> 00:10:08,600
Speaker 14: news is at imported cards and parts, will they escape

188
00:10:08,600 --> 00:10:11,920
Speaker 14: the so called reciprocal tariffs? And speaking of being spared,

189
00:10:11,960 --> 00:10:14,720
Speaker 14: you have the pharmaceutical sector and won this reprieve from

190
00:10:14,760 --> 00:10:18,040
Speaker 14: sweeping tariffs. But here's the thing, it may not last long.

191
00:10:18,120 --> 00:10:20,800
Speaker 14: Sources saying the White House plans to launch an investigation

192
00:10:21,040 --> 00:10:24,559
Speaker 14: into the drug industry other sectors, and that includes semiconductors

193
00:10:24,600 --> 00:10:27,720
Speaker 14: and potentially critical minerals, and that could lead to tariffs

194
00:10:27,760 --> 00:10:30,400
Speaker 14: under the Trade Expansion Act. Now, if we take a

195
00:10:30,400 --> 00:10:32,480
Speaker 14: look at chairs A Pfizer, they're down about two tens

196
00:10:32,480 --> 00:10:36,640
Speaker 14: of percent. Eli Lilly off about two percent. Lisa Matteo, Bloomberg.

197
00:10:36,200 --> 00:10:38,280
Speaker 3: Radio, Lisa, thank you all. In all, it is an

198
00:10:38,320 --> 00:10:40,959
Speaker 3: aggressive suite of tariffs from President Trump, and it will

199
00:10:41,000 --> 00:10:44,559
Speaker 3: significantly complicate the federal reserves job as it struggles to

200
00:10:44,640 --> 00:10:48,480
Speaker 3: question inflation and avoid an economic downturn. This morning, Morgan

201
00:10:48,600 --> 00:10:51,079
Speaker 3: Stanley pushed back. It's called for the next FED rate

202
00:10:51,120 --> 00:10:55,120
Speaker 3: cut to next year. The firm's analysts cite inflation risks

203
00:10:55,160 --> 00:10:59,360
Speaker 3: arising from tariffs. FED Governor Adriana Kougler says it's appropriate

204
00:10:59,440 --> 00:11:04,120
Speaker 3: to keep in restraints unchanged until upside risks to inflation abate.

205
00:11:04,640 --> 00:11:08,880
Speaker 15: I will support maintaining the current policy BRAID for as

206
00:11:09,040 --> 00:11:14,119
Speaker 15: long as this outside grace to inflation continue, while economic

207
00:11:14,200 --> 00:11:17,240
Speaker 15: activity unemployment remain.

208
00:11:17,000 --> 00:11:20,120
Speaker 3: The state now, it was FED Governor Adriana Coogler. The

209
00:11:20,120 --> 00:11:22,440
Speaker 3: Fed's next meeting May seventh.

210
00:11:25,840 --> 00:11:26,000
Speaker 10: Time.

211
00:11:26,040 --> 00:11:27,959
Speaker 2: Now for look at some of the other stories making

212
00:11:27,960 --> 00:11:29,720
Speaker 2: news in New York and around the world, and for

213
00:11:29,760 --> 00:11:32,640
Speaker 2: that we're joined by Bloomberg's Michael Barr Michael, good Morning.

214
00:11:32,480 --> 00:11:35,360
Speaker 7: Good morning, Karen. Reaction continues to come in after a

215
00:11:35,360 --> 00:11:39,040
Speaker 7: federal judge dismissed corruption charges against New York Mayor Eric

216
00:11:39,080 --> 00:11:43,000
Speaker 7: Adams but criticized the Trump administration's move to drop the case.

217
00:11:43,559 --> 00:11:46,880
Speaker 7: Judge Dale Hoe rejected the government's bid to leave the

218
00:11:46,960 --> 00:11:51,040
Speaker 7: door open for refining the case, citing the unavoidable perception

219
00:11:51,200 --> 00:11:53,920
Speaker 7: that the mayor's freedom depends on his ability to carry

220
00:11:54,000 --> 00:11:57,440
Speaker 7: out the administration's agenda. Mayor Adams, in a brief statement

221
00:11:57,480 --> 00:12:00,559
Speaker 7: outside Gracie Mansion in Manhattan, maintained his innocence.

222
00:12:00,880 --> 00:12:05,160
Speaker 6: Today finally marks the end of this chapter.

223
00:12:05,840 --> 00:12:08,600
Speaker 7: The dismissal comes less than three months before the June

224
00:12:08,640 --> 00:12:12,200
Speaker 7: twenty fourth Democratic primary election in the New York City

225
00:12:12,280 --> 00:12:15,880
Speaker 7: mayoral race, in which Adams is a candidate. With former

226
00:12:15,960 --> 00:12:19,280
Speaker 7: New York Governor Andrew Cuomo already in the mayoral race,

227
00:12:19,320 --> 00:12:23,000
Speaker 7: political analyst Hank Shinkoff says the mayor now has to

228
00:12:23,040 --> 00:12:25,360
Speaker 7: decide if he wants to run as an independent or

229
00:12:25,559 --> 00:12:26,400
Speaker 7: on another party.

230
00:12:26,880 --> 00:12:28,920
Speaker 4: Mayor Adams is a real shot to be reelected, and

231
00:12:28,960 --> 00:12:30,959
Speaker 4: it means this is the worst day that Andrew Cuomo

232
00:12:31,000 --> 00:12:33,640
Speaker 4: has had, probably since he was forced to leave office.

233
00:12:33,679 --> 00:12:37,000
Speaker 7: President Trump, who has claimed that his own criminal cases

234
00:12:37,000 --> 00:12:41,160
Speaker 7: were political, Vendetta's express sympathy for the mayor. The death

235
00:12:41,240 --> 00:12:43,400
Speaker 7: toll from the massive earthquake that hit me and May

236
00:12:43,559 --> 00:12:46,120
Speaker 7: nearly a week ago rose to almost thirty one hundred

237
00:12:46,160 --> 00:12:49,079
Speaker 7: as more bodies were found by search and rescue teams.

238
00:12:49,360 --> 00:12:52,000
Speaker 7: The military led to government said more than forty seven

239
00:12:52,120 --> 00:12:54,559
Speaker 7: hundred have been injured in more than three hundred forty

240
00:12:54,559 --> 00:12:58,400
Speaker 7: are still missing. Last Friday, seven point seven magnitude earthquake

241
00:12:58,679 --> 00:13:02,960
Speaker 7: had an epicenter near Delay, Meandmar's second largest city. Strong

242
00:13:03,000 --> 00:13:06,200
Speaker 7: storms have already led to reports of deadly tornadoes along

243
00:13:06,200 --> 00:13:09,880
Speaker 7: the Mississippi River valley, and now heavy rain is moving east.

244
00:13:10,240 --> 00:13:13,160
Speaker 7: Bloomberg Meeting Religius Craig Allen has the latest, and.

245
00:13:13,120 --> 00:13:16,440
Speaker 16: There will be additional showers and thunderstorms. The ingredients are

246
00:13:16,480 --> 00:13:20,000
Speaker 16: there for severe weather to develop once again. It could

247
00:13:20,000 --> 00:13:23,240
Speaker 16: turn quite volatile again during this day. And not only

248
00:13:23,280 --> 00:13:26,280
Speaker 16: will there be just thunderstorms and wind, but there will

249
00:13:26,280 --> 00:13:29,240
Speaker 16: also be torrential rainfall an inch or two per hour

250
00:13:29,280 --> 00:13:31,560
Speaker 16: from some of these storms, and they'll be training, so

251
00:13:31,600 --> 00:13:33,920
Speaker 16: in other words, there could be over the length of

252
00:13:33,960 --> 00:13:35,960
Speaker 16: a day or two, there could be as much as

253
00:13:36,000 --> 00:13:38,560
Speaker 16: eight to twelve inches of rain, and that would cause

254
00:13:38,600 --> 00:13:39,679
Speaker 16: deadly flash flooding.

255
00:13:40,080 --> 00:13:42,839
Speaker 7: Bloomberg's Craig Allen Global News twenty four hours a day

256
00:13:42,840 --> 00:13:44,959
Speaker 7: and whenever you want it with Bloomberg News Now. I'm

257
00:13:44,960 --> 00:13:46,760
Speaker 7: Michael Barr, and this is Bloomberg Karen.

258
00:13:46,920 --> 00:13:53,880
Speaker 2: All right, Michael Barr, thank you time now for the

259
00:13:53,880 --> 00:13:57,679
Speaker 2: Bloomberg Sports Outcake with John Stash Shower John, Good morning.

260
00:13:57,440 --> 00:13:59,760
Speaker 6: Good morning, Karen. Further evidence it's gonna be tough for

261
00:13:59,800 --> 00:14:02,760
Speaker 6: the to get out of the East in the upcoming playoffs.

262
00:14:02,800 --> 00:14:05,520
Speaker 6: They'd likely have to get past both the Celtics and

263
00:14:05,559 --> 00:14:08,240
Speaker 6: the Calves. In Cleveland, Nick's had a fifteen point lead

264
00:14:08,280 --> 00:14:10,640
Speaker 6: in the first half, but they trailed by twenty five

265
00:14:10,679 --> 00:14:13,640
Speaker 6: in the second. The Calves won for the sixty first time,

266
00:14:13,679 --> 00:14:15,960
Speaker 6: won twenty four to one oh five at the Guard

267
00:14:16,120 --> 00:14:19,560
Speaker 6: Rangers in wild The game tied four different times. Vincent

268
00:14:19,640 --> 00:14:23,520
Speaker 6: Trochech scored twenty four seconds into overtime. Rangers won five

269
00:14:23,520 --> 00:14:26,560
Speaker 6: to four. They're tied to the last playoff spot. Washington

270
00:14:26,640 --> 00:14:28,760
Speaker 6: lost at Carolina five to one, but the one goal

271
00:14:28,800 --> 00:14:32,040
Speaker 6: for the Capitals was by Alex Doveetchkin, thirty ninth of

272
00:14:32,080 --> 00:14:34,360
Speaker 6: the season for the thirty nine year old, and Novechkan

273
00:14:34,760 --> 00:14:37,360
Speaker 6: moving closer to becoming the leading goals scored in NHL history,

274
00:14:37,440 --> 00:14:40,160
Speaker 6: needs three more. Pid Alonzo had those big home runs

275
00:14:40,200 --> 00:14:42,720
Speaker 6: with the Mets last fall. All off season, the question

276
00:14:42,960 --> 00:14:46,520
Speaker 6: was would he resign. He did. In Miami. He came

277
00:14:46,600 --> 00:14:49,760
Speaker 6: up in the eighth inning two on two, out Balanzo twice.

278
00:14:49,800 --> 00:14:52,320
Speaker 17: What deep center field sodelha back.

279
00:14:52,200 --> 00:14:54,160
Speaker 18: Takes a look out here.

280
00:14:54,840 --> 00:14:56,360
Speaker 6: Peter Alonzo tis the.

281
00:14:56,400 --> 00:14:59,200
Speaker 18: Game with a three run homer.

282
00:14:59,560 --> 00:15:03,520
Speaker 6: Dead shut the Great Ways and why Mett's beat the

283
00:15:03,560 --> 00:15:05,640
Speaker 6: Marlin sixty five and eleven innings. They've got the home

284
00:15:05,640 --> 00:15:08,600
Speaker 6: opener tomorrow afternoon against the Pirates at the Stadium. Arizona

285
00:15:08,640 --> 00:15:10,680
Speaker 6: score twice at each of the first two innings off

286
00:15:10,720 --> 00:15:13,120
Speaker 6: Carlos Dan did not score again, but the Yankees were

287
00:15:13,160 --> 00:15:16,240
Speaker 6: blanked until an Anthony Volpi three on homer bott.

288
00:15:16,040 --> 00:15:16,400
Speaker 7: Of the night.

289
00:15:16,440 --> 00:15:19,320
Speaker 6: The Diamondbacks won four to three. Dodgers beat Atlanta on

290
00:15:19,400 --> 00:15:22,040
Speaker 6: a Showyozani home run bottom of the night. The Dodgers

291
00:15:22,040 --> 00:15:24,120
Speaker 6: are eight and o. The Braves are zero and seven.

292
00:15:24,360 --> 00:15:26,160
Speaker 6: John Stashew with Bloomberg Sport.

293
00:15:28,520 --> 00:15:32,560
Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

294
00:15:32,840 --> 00:15:35,640
Speaker 1: and around the world on Bloomberg dot Com and the

295
00:15:35,680 --> 00:15:38,800
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

296
00:15:39,600 --> 00:15:42,800
Speaker 2: Good morning. I'm Caro a Moscow alongside Nathan Hager, and

297
00:15:42,880 --> 00:15:46,120
Speaker 2: we continue our coverage on tariffs with a conversation with

298
00:15:46,320 --> 00:15:49,680
Speaker 2: US Treasury Secretary Scott Messant. He spoke with the Bloomberg

299
00:15:49,760 --> 00:15:53,640
Speaker 2: televisions and Marie hor Dern shortly after the tariffs were announced,

300
00:15:53,760 --> 00:15:57,800
Speaker 2: urging other economies against taking retaliatory steps against the new

301
00:15:57,920 --> 00:15:59,920
Speaker 2: set of America's retaliatory terror.

302
00:16:00,560 --> 00:16:03,720
Speaker 9: Let's listen in what I would say, and Marie is

303
00:16:03,880 --> 00:16:07,600
Speaker 9: I would advise none of the countries to panic. I

304
00:16:07,760 --> 00:16:12,280
Speaker 9: wouldn't try to retaliate because as long as you don't retaliate,

305
00:16:12,560 --> 00:16:15,720
Speaker 9: this is the high end of the number, and I

306
00:16:15,760 --> 00:16:19,360
Speaker 9: think the market could have certainty that this is the

307
00:16:19,480 --> 00:16:23,640
Speaker 9: number barring retaliation. So we've got a ceiling and then

308
00:16:24,280 --> 00:16:26,080
Speaker 9: we can see if there's a different floor.

309
00:16:26,480 --> 00:16:29,000
Speaker 18: So you sound like you're ready for a negotiation. A

310
00:16:29,040 --> 00:16:32,240
Speaker 18: number of these partners. Has the European Union, has China?

311
00:16:32,480 --> 00:16:33,120
Speaker 18: Has India?

312
00:16:33,200 --> 00:16:34,600
Speaker 14: Have these countries reached out?

313
00:16:34,920 --> 00:16:37,080
Speaker 9: Well, they've all reached out, but it's going to be

314
00:16:37,200 --> 00:16:39,640
Speaker 9: up to President Trump to see what he wants to do.

315
00:16:40,440 --> 00:16:43,360
Speaker 9: I think the mindset might be to let things settle

316
00:16:43,520 --> 00:16:47,480
Speaker 9: for a while. Their terrifts or non tariff barriers have

317
00:16:47,560 --> 00:16:49,640
Speaker 9: been on a long time, so we'll see where it

318
00:16:49,680 --> 00:16:50,280
Speaker 9: goes from here.

319
00:16:50,520 --> 00:16:52,840
Speaker 18: When it comes to China, they have a much higher

320
00:16:52,960 --> 00:16:55,800
Speaker 18: rate on this list. On top of that, there's still

321
00:16:55,840 --> 00:16:59,040
Speaker 18: that twenty percent fentanyl tariff rate. Is all of this

322
00:16:59,240 --> 00:17:01,600
Speaker 18: coming together to be more than a fifty percent tariff

323
00:17:01,640 --> 00:17:02,440
Speaker 18: rate for Beijing?

324
00:17:02,920 --> 00:17:05,720
Speaker 9: Well, yes, I think it is, and I think it's

325
00:17:05,720 --> 00:17:10,240
Speaker 9: a combination of things. And again that I think China

326
00:17:10,359 --> 00:17:14,680
Speaker 9: said today that solving the fentanyl crisis depends on taking

327
00:17:14,760 --> 00:17:17,920
Speaker 9: off the fentanyl tariffs, and I'm pretty sure that's not

328
00:17:18,040 --> 00:17:21,040
Speaker 9: the way the sequencing is going to work. They're exporting

329
00:17:21,119 --> 00:17:26,160
Speaker 9: the precursor chemicals, and every day, every week, every month,

330
00:17:26,200 --> 00:17:28,120
Speaker 9: Americans are dying and it's going to have to stop.

331
00:17:28,400 --> 00:17:30,520
Speaker 18: When it comes to places like China, the President has

332
00:17:30,640 --> 00:17:33,240
Speaker 18: mentioned he's willing to even look at things like TikTok

333
00:17:33,280 --> 00:17:36,960
Speaker 18: to potentially do a negotiate them. When it comes to tariffs,

334
00:17:37,000 --> 00:17:38,880
Speaker 18: I'm sure you're looking at things like the yu Wan.

335
00:17:39,359 --> 00:17:42,040
Speaker 18: What's on the table when it comes to this trade

336
00:17:42,119 --> 00:17:43,600
Speaker 18: realignment between Beijing.

337
00:17:43,359 --> 00:17:46,479
Speaker 9: And Washington, Well, we haven't started anything yet. We've been

338
00:17:46,680 --> 00:17:49,520
Speaker 9: busy with the tariffs. I've been busy, as we talked

339
00:17:49,560 --> 00:17:53,399
Speaker 9: about earlier, the tax bills going very well. So I

340
00:17:53,560 --> 00:17:59,040
Speaker 9: think that we will move toward the bilateral relationship with

341
00:17:59,320 --> 00:18:03,320
Speaker 9: China that we've done the multilateral.

342
00:18:02,680 --> 00:18:05,560
Speaker 18: Tariffs plans for conversations or a trip to Beijing.

343
00:18:07,359 --> 00:18:09,240
Speaker 9: Nothing eminent when.

344
00:18:09,119 --> 00:18:13,239
Speaker 18: It comes to this negotiation. April ninth, these tariffs come

345
00:18:13,280 --> 00:18:17,040
Speaker 18: in place. Do you plan on having negotiations before that date?

346
00:18:17,960 --> 00:18:21,240
Speaker 9: Again, I'm not part of the negotiations, so you know,

347
00:18:21,640 --> 00:18:24,680
Speaker 9: we'll see. I am sure that there are going to

348
00:18:24,720 --> 00:18:26,679
Speaker 9: be a lot of calls. I just don't know if

349
00:18:26,680 --> 00:18:27,880
Speaker 9: they're going to be negotiations.

350
00:18:28,320 --> 00:18:31,359
Speaker 2: And that was US Treasury Secretary's god Messon speaking with

351
00:18:31,400 --> 00:18:34,560
Speaker 2: the Bloomberg TVs and Marie hord Durn after President Trump's

352
00:18:34,600 --> 00:18:37,399
Speaker 2: tariff announcement. You can hear the full interview on the

353
00:18:37,440 --> 00:18:40,480
Speaker 2: Bloomberg Talks podcast page and watch it on the Bloomberg

354
00:18:40,600 --> 00:18:42,360
Speaker 2: podcast page on YouTube.

355
00:18:42,440 --> 00:18:46,240
Speaker 3: Nathan Karen, we continue our coverage of these tariffs. We

356
00:18:46,320 --> 00:18:49,879
Speaker 3: are joined now by Bloomberg News Global Trades are Brendan

357
00:18:49,960 --> 00:18:53,440
Speaker 3: Murray and Terry Haynes, the founder of Pangaea Policy, for

358
00:18:53,520 --> 00:18:56,560
Speaker 3: a roundtable this morning after the announcement. Great to speak

359
00:18:56,600 --> 00:18:58,639
Speaker 3: with both of you, and I'll start with you, Brendan,

360
00:18:58,720 --> 00:19:01,760
Speaker 3: because even as Treasury Secretary Scott Bessett is framing this

361
00:19:02,160 --> 00:19:07,040
Speaker 3: as a negotiation, this seems like a really huge start

362
00:19:07,480 --> 00:19:08,879
Speaker 3: to what could be coming.

363
00:19:08,960 --> 00:19:10,560
Speaker 17: Good morning, Yeah, exactly.

364
00:19:10,640 --> 00:19:13,640
Speaker 13: He said, you know, let's let this paraphrasing, he said,

365
00:19:13,720 --> 00:19:15,760
Speaker 13: let's let this settle in for a while, so that

366
00:19:15,920 --> 00:19:18,240
Speaker 13: you know, that doesn't seem like you know, a window

367
00:19:18,320 --> 00:19:20,879
Speaker 13: for negotiating over the next four or five days. So

368
00:19:21,640 --> 00:19:24,240
Speaker 13: these tariffs are going to take effect by early next

369
00:19:24,320 --> 00:19:26,919
Speaker 13: week and countries are going to be scrambling to figure

370
00:19:26,920 --> 00:19:30,200
Speaker 13: out do we want to retaliate, ratchet up the ratchet

371
00:19:30,280 --> 00:19:32,720
Speaker 13: up the pressure, or do we want to you know,

372
00:19:33,920 --> 00:19:37,160
Speaker 13: take a you know, a more negotiating posture and try

373
00:19:37,240 --> 00:19:40,440
Speaker 13: to work this out. Either way, marcuts don't like it,

374
00:19:40,640 --> 00:19:43,560
Speaker 13: and economists are marking down their outlook for growth and

375
00:19:44,200 --> 00:19:46,800
Speaker 13: marking up their outlook for inflation. And you know the

376
00:19:46,880 --> 00:19:50,119
Speaker 13: aftermath of it here, even though President Trump said this

377
00:19:50,280 --> 00:19:53,960
Speaker 13: is simple, reciprocity is about as simple as it gets,

378
00:19:54,520 --> 00:19:56,040
Speaker 13: this still creates a lot of confusion.

379
00:19:56,680 --> 00:19:59,720
Speaker 3: Terry, how does the negotiation go when the president is

380
00:20:00,040 --> 00:20:02,560
Speaker 3: charting with this Onslaught.

381
00:20:03,440 --> 00:20:06,239
Speaker 17: Good morning, Nathan. You know, the negotiations in a lot

382
00:20:06,280 --> 00:20:09,080
Speaker 17: of ways have already started. My understanding in a lot

383
00:20:09,119 --> 00:20:13,240
Speaker 17: of places is that Secretary of Commerce is the Lutnix

384
00:20:13,320 --> 00:20:19,119
Speaker 17: team had already been giving wish lists both tariffs and

385
00:20:19,680 --> 00:20:23,480
Speaker 17: barriers to different countries who were already kind of parsing

386
00:20:23,600 --> 00:20:26,400
Speaker 17: that and trying to figure out how they might respond

387
00:20:26,480 --> 00:20:31,000
Speaker 17: to it. And a lot of countries, I mean major countries,

388
00:20:31,040 --> 00:20:33,119
Speaker 17: both allies and non aligned, are going to have to

389
00:20:34,119 --> 00:20:37,000
Speaker 17: frankly work through with their own industries there, whether it

390
00:20:37,080 --> 00:20:41,800
Speaker 17: be agriculture or machine industries, to figure out exactly what

391
00:20:41,920 --> 00:20:43,720
Speaker 17: they want to do and how they want to do it. So,

392
00:20:44,880 --> 00:20:47,000
Speaker 17: you know, I think it's it's correct to say this

393
00:20:47,160 --> 00:20:52,440
Speaker 17: is not going to magically disappear or be mitigated in

394
00:20:52,560 --> 00:20:55,920
Speaker 17: the next few days. But all countries have had an

395
00:20:55,960 --> 00:20:59,639
Speaker 17: advanced warning of what the United States might want and

396
00:20:59,760 --> 00:21:02,879
Speaker 17: what the kind of the parameters for negotiations will be.

397
00:21:03,880 --> 00:21:07,000
Speaker 17: So you know, number one, there's that number two. You've

398
00:21:07,040 --> 00:21:11,320
Speaker 17: seen encouraging responses by a lot of countries. I was encouraged.

399
00:21:11,320 --> 00:21:13,800
Speaker 17: I mean, Canada of course got singled out for special treatment,

400
00:21:13,920 --> 00:21:17,920
Speaker 17: but you had Premiere Ford on your air last night

401
00:21:18,119 --> 00:21:21,520
Speaker 17: and he was urging Carneie not to retaliate at all.

402
00:21:21,840 --> 00:21:24,320
Speaker 17: So you know, you'll have a lot of those kind

403
00:21:24,359 --> 00:21:25,000
Speaker 17: of responses.

404
00:21:25,600 --> 00:21:29,800
Speaker 3: Notwithstanding Canada and Mexico being spared at least this round, Brendan,

405
00:21:30,040 --> 00:21:32,399
Speaker 3: just about every other country in the world, even some

406
00:21:32,680 --> 00:21:35,920
Speaker 3: very very small ones are being targeted. In this long

407
00:21:36,200 --> 00:21:40,400
Speaker 3: list that President Trump showed at the Rose Garden last night,

408
00:21:40,720 --> 00:21:44,240
Speaker 3: what could the potential impact be for this kind of

409
00:21:44,320 --> 00:21:46,600
Speaker 3: country by country tariff announcement.

410
00:21:47,200 --> 00:21:49,800
Speaker 13: Well, one of the hardest hit regions was South Asia.

411
00:21:50,160 --> 00:21:55,760
Speaker 13: Countries like Vietnam, Malaysia, Cambodia. These are places where a

412
00:21:55,880 --> 00:21:59,360
Speaker 13: lot of the sort of lower skilled manufacturing has migrated

413
00:21:59,400 --> 00:22:03,000
Speaker 13: from China over the past several years. And you know,

414
00:22:03,119 --> 00:22:06,840
Speaker 13: those are places where you know, close clothes and shoes

415
00:22:06,840 --> 00:22:09,560
Speaker 13: are made. And so you know, there are stories that

416
00:22:09,640 --> 00:22:12,800
Speaker 13: we're reporting today about how you know, Nike, you know,

417
00:22:12,880 --> 00:22:14,680
Speaker 13: you know Nike tennis shoes and those kinds of things

418
00:22:14,720 --> 00:22:16,280
Speaker 13: that are made in South Asia, you know, are going

419
00:22:16,320 --> 00:22:19,399
Speaker 13: to be more expensive. The other the other issue is

420
00:22:19,520 --> 00:22:23,440
Speaker 13: you know, electronics. Apple is starting to produce a lot

421
00:22:23,480 --> 00:22:27,080
Speaker 13: more of their phones in India. India you know, got

422
00:22:27,160 --> 00:22:29,440
Speaker 13: hit with a tariff in the twenty five percent range,

423
00:22:29,480 --> 00:22:33,920
Speaker 13: I think. And so you know, if these can't be

424
00:22:34,200 --> 00:22:38,440
Speaker 13: resolved by negotiation, you know, anytime soon, then you know,

425
00:22:38,600 --> 00:22:44,040
Speaker 13: consumer prices could conceivably go up. Interestingly, Switzerland was singled out,

426
00:22:44,400 --> 00:22:46,720
Speaker 13: got a bigger got a bigger tariff level than the

427
00:22:46,760 --> 00:22:49,200
Speaker 13: rest of the than than the European Union around it.

428
00:22:49,960 --> 00:22:52,959
Speaker 13: So you know, rolex watches come next week are going

429
00:22:53,000 --> 00:22:55,000
Speaker 13: to be about thirty one percent more expensive than they

430
00:22:55,000 --> 00:22:55,680
Speaker 13: otherwise would be.

431
00:22:56,560 --> 00:23:00,880
Speaker 3: Terry, we haven't heard much Republican reaction on Capitol Hill

432
00:23:01,000 --> 00:23:06,000
Speaker 3: besides the four Republicans who voted with Democrats against Canada tariffs.

433
00:23:06,600 --> 00:23:08,879
Speaker 3: What do you think the Republican reaction is going to

434
00:23:08,960 --> 00:23:12,399
Speaker 3: be as these tariffs take a fact, I.

435
00:23:12,440 --> 00:23:17,000
Speaker 17: Think there'll be two things that happened, David. One above board,

436
00:23:17,080 --> 00:23:19,840
Speaker 17: one below board. The above board will be that there

437
00:23:19,840 --> 00:23:25,399
Speaker 17: will be some concerns from Republicans from based on the

438
00:23:25,680 --> 00:23:31,239
Speaker 17: situation in their own states, about making sure that they

439
00:23:31,400 --> 00:23:37,720
Speaker 17: push Trump to resolve these issues lower tariffs, engage in

440
00:23:37,800 --> 00:23:40,440
Speaker 17: the negotiations, do whatever they can, and frankly, you know,

441
00:23:40,520 --> 00:23:43,280
Speaker 17: work with the other the other country as well. That's

442
00:23:43,359 --> 00:23:47,200
Speaker 17: number one. Number two. I think another impact here is

443
00:23:47,320 --> 00:23:51,480
Speaker 17: that it lights an additional hot foot under the administration's

444
00:23:51,560 --> 00:23:55,680
Speaker 17: broader economic agenda. And you can hear this from a

445
00:23:55,720 --> 00:23:58,119
Speaker 17: lot of Senators. You can also hear it from Secretary Vessant,

446
00:23:58,359 --> 00:24:02,440
Speaker 17: who continues to push the idea that the tax cuts

447
00:24:02,520 --> 00:24:05,040
Speaker 17: may show up as soon as July or August or

448
00:24:05,080 --> 00:24:07,480
Speaker 17: September something like that. Now I've got it at eighty

449
00:24:07,560 --> 00:24:11,680
Speaker 17: percent by the end of the calendar year, but there's

450
00:24:11,680 --> 00:24:15,280
Speaker 17: an opportunity should everyone wish on the Republican side to

451
00:24:15,359 --> 00:24:19,879
Speaker 17: move these things along faster, and Besson will also be

452
00:24:20,000 --> 00:24:22,639
Speaker 17: focusing on that. He has said that he's going to

453
00:24:22,680 --> 00:24:27,480
Speaker 17: spend a lot of time pushing exactly that agenda. Think

454
00:24:27,560 --> 00:24:31,600
Speaker 17: of Bess and broadly, as in twenty twenty five, as

455
00:24:31,760 --> 00:24:36,000
Speaker 17: Gary Cohne was in twenty seventeen, the guy who's constantly

456
00:24:36,119 --> 00:24:38,320
Speaker 17: up there goosing things along, trying to make it go

457
00:24:38,480 --> 00:24:39,400
Speaker 17: as fast as he can.

458
00:24:40,880 --> 00:24:43,800
Speaker 2: This is Bloomberg day Break, your morning podcast and the

459
00:24:43,880 --> 00:24:47,320
Speaker 2: stories making news from Wall Street to Washington and beyond.

460
00:24:47,640 --> 00:24:50,000
Speaker 3: Look for us on your podcast feed by six am

461
00:24:50,080 --> 00:24:53,440
Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen.

462
00:24:53,720 --> 00:24:56,520
Speaker 2: You can also listen live each morning starting at five

463
00:24:56,560 --> 00:24:59,200
Speaker 2: am Wall Street time on Bloomberg eleven three to zero

464
00:24:59,320 --> 00:25:02,160
Speaker 2: in New York, Bloomberg in ninety nine to one in Washington,

465
00:25:02,280 --> 00:25:06,160
Speaker 2: Bloomberg ninety two nine in Boston, and nationwide on serious

466
00:25:06,400 --> 00:25:08,000
Speaker 2: XM Channel one twenty.

467
00:25:07,800 --> 00:25:10,800
Speaker 3: One plus Listen coast to coast on the Bloomberg Business

468
00:25:10,840 --> 00:25:13,880
Speaker 3: App now with Apple CarPlay and Android Atto interfaces.

469
00:25:14,200 --> 00:25:17,200
Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's

470
00:25:17,200 --> 00:25:19,960
Speaker 2: the latest news whenever you want it in five minutes

471
00:25:20,040 --> 00:25:23,120
Speaker 2: or less. Search Bloomberg News Now on your favorite podcast

472
00:25:23,200 --> 00:25:27,280
Speaker 2: platform to stay informed all day long. I'm Karen Moscow.

473
00:25:27,160 --> 00:25:29,639
Speaker 3: And I'm Nathan Hager. Join us again tomorrow morning for

474
00:25:29,720 --> 00:25:31,600
Speaker 3: all the news you need to start your day right

475
00:25:31,680 --> 00:25:33,119
Speaker 3: here on Bloomberg Daybreak