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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin in Minneapolis, where President Trump may be

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Speaker 3: signaling a strategy shift after the deaths of two US

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Speaker 3: citizens and immigration raids this month. The President says he's

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Speaker 3: sending his borders are Tom Holman to the city, the

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Speaker 3: man who had been overseeing ice operations there. Border Patrol

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Speaker 3: Commander at Large Greg Bovino, is expected to leave as

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Speaker 3: soon as today. Holman is seen as more measured in

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Speaker 3: his approach than Homeland Security Secretary Christi Nome, but White

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Speaker 3: House Press Secretary Caroline Levitt says this is not a

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Speaker 3: sign that the President has lost confidence in Nome.

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Speaker 4: Mister Holman is doing an exceptional job, and he has

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Speaker 4: been working with Secretary Nome and President Trump over the

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Speaker 4: course of the last year. A Secretary Nome still has

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Speaker 4: the utmost confidence and trust of the President of the

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Speaker 4: United States, and she's continuing to oversee the entire Department

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Speaker 4: of Homeland Security and all of the immigration enforcement that's

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Speaker 4: taking place across the whole entire country.

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Speaker 3: Press Secretary Caroline Levitt spoke at the White House news conference,

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Speaker 3: and The New York Times reports President Trump met with

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Speaker 3: Secretary Nome for nearly two hours in the Oval Office yesterday,

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Speaker 3: but did not suggest her job was at risk. President

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Speaker 3: Trump says he also spoke with Minnesota Governor Tim Waltz

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Speaker 3: and will consider independent investigations into the shootings and reducing

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Speaker 3: the number of federal agents in the.

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Speaker 2: State, Nathan. Outrage over the shooting death of Minneapolis I

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Speaker 2: See You nurse Alex Pretty now has Washington hurtling toward

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Speaker 2: a government shutdown at the end of the week. Senate

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Speaker 2: Democrats are threatening to vote against funds for the Department

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Speaker 2: of Homeland Security unless it comes with new safeguards like

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Speaker 2: warrant requirements and body cameras for Ice and Border Patrol agents.

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Speaker 2: Republicans are signaling they'll resist those demands, but several GOP

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Speaker 2: senators are calling for an impartial investigation into Pretty's killing.

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Speaker 2: A shutdown would likely have little impact on Ice or

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Speaker 2: border patrol, they received massive funding in President Trump's tax

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Speaker 2: bill last year.

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Speaker 3: Now, the government might not be the only thing shutting down, Karen.

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Speaker 3: Several airlines are cutting flights again due to the weather.

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Speaker 3: So far, about one thousand flights have been canceled today.

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Speaker 3: That's according to flight Aware. The National Weather Services warning

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Speaker 3: of another potential significant winter storm later this week. US

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Speaker 3: natural gas is falling today as traders take profits. Prices

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Speaker 3: shot up nearly thirty percent yesterday amid freezing temperatures.

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Speaker 2: Nathan, we have several developments on the geopolitical front this morning.

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Speaker 2: UK Prime Minister kir Starmer is heading to Beijing this week,

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Speaker 2: I mean with Chinese leaders. In an interview with Bloomberg,

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Speaker 2: Starmer said the UK will not have to choose between

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Speaker 2: the US and China, as he tries not to draw

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Speaker 2: the ire of President Trump. Begin More from Bloomberg's Rosalind Madison.

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Speaker 5: It's not an easy visit. It will be a very

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Speaker 5: delicate one Forstama to balance. As he says, you know,

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Speaker 5: lakaltales he's talking about. We're not trying to take aside here.

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Speaker 5: He'll keep talking about the importance of the US relationship.

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Speaker 5: But equally he wanted to come away from this China

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Speaker 5: visit with some proper deals in the bag and to

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Speaker 5: show it's not just thrash.

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Speaker 2: Rich Bloomberg's Rosalind Madison says this will be the first

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Speaker 2: visit by a British prime minister to China in eight years.

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Speaker 3: Well Meanwhile, Karen Canada's Prime Minister Mark Carney spoke yesterday

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Speaker 3: with President Trump and Treasury Secretary Scott Besson talked about

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Speaker 3: the conversation with Funkx as Sean Hannity.

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Speaker 6: I was in the Oval with the President today. He

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Speaker 6: spoke to Prime Minister Carney, who was very aggressively walking

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Speaker 6: back some of the unfortunate remarks he made at Davos

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Speaker 6: and Sean, I'm not sure what the Prime Minister was thinking.

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Speaker 3: That was Treasury Secretary Scott Besson speaking with Fox in

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Speaker 3: Davos last week, Carney spoke about the need for middle

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Speaker 3: powers to band together to counter aggressive coercion by the

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Speaker 3: world's superpowers. Many observers saw his comments as being aimed

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Speaker 3: at the US.

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Speaker 2: Nathan President and Trump is threatening to raise tariffs on

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Speaker 2: South Korean goods to twenty five percent, and a social

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Speaker 2: media post, the President said the country's lawmakers had not

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Speaker 2: lived up to the deal they agreed to, with the

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Speaker 2: new rate applying to Auto's lumber, pharmaceutical and other products.

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Speaker 2: Bloombergy's White House correspondent Josh Wingrove reports.

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Speaker 7: He's essentially ripping up or at least for now, the deal

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Speaker 7: and saying that's because the Korean they're slow walking in.

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Speaker 7: I should note that there were a lot of question marks,

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Speaker 7: including from what the American position was about this deal.

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Speaker 7: And so this is another case for countries that are

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Speaker 7: looking at this, including the EU and the UK that

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Speaker 7: had their deals and that then saw the Greenland tariff

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Speaker 7: threat come in. The Trump's deals aren't necessarily locked in

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Speaker 7: if implemented.

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Speaker 2: Bloomberg Josh Wingrove says the move could have wide arranging

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Speaker 2: effects on major South Korean companies that export to the US,

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Speaker 2: such as Hyundai Motor Well.

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Speaker 3: Turning to markets now, Karen Shares of major health insurers

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Speaker 3: are tumbling in early trading. That's after the US proposed

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Speaker 3: plans to keep Medicare payment rates flat next year. Analyst

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Speaker 3: to expected an increase as high as six percent. President

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Speaker 3: Trump has been facing criticism for americans affordability challenges. He

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Speaker 3: started targeting insurers, blaming them for rising premiums in private

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Speaker 3: Affordable Care Act plans and checking the stocks this morning.

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Speaker 3: Shares of Humana are now down more than thirteen percent.

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Speaker 3: CVS Health is down ten percent. United Health down nine percent.

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Speaker 2: Let's turn to the economy now, Nathan, where the Federal

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Speaker 2: Reserve cakes off its two day policy meeting in Washington

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Speaker 2: later today, and the Fed is widely expected to leave

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Speaker 2: rates unchanged as a steadier jobs market restores a degree

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Speaker 2: of consensus at the Central Bank. John Hasseus is chief

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Speaker 2: economist at Goldman Sachs.

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Speaker 8: Wage growth has continued to come down, renderation has continued

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Speaker 8: to come down. I think that should get the majority

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Speaker 8: on the FMC comfortable with some additional cuts in the

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Speaker 8: second half. I don't expect anything this week. I don't

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Speaker 8: expect anything in the next few meetings, but the second

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Speaker 8: half of the year is a different story.

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Speaker 2: Goleman Sex chief economist Joan Hassei has made comments in

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Speaker 2: an interview with Bloomberg at the Goldman SAX Global Macro

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Speaker 2: Conference in Hong Kong. A rocky start for TikTok's and

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Speaker 2: newly established US entity. It's working to resolve a major

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Speaker 2: infrastructure failure triggered by a data center power disruption. The issues,

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Speaker 2: which started on Sunday, prevented millions of Americans from posting videos,

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Speaker 2: accessing their fees, or seeing up to date engagement metrics.

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Speaker 2: Time now for look at some of the other stories

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Speaker 2: making news in New York and around the world, and

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Speaker 2: for that we're joined by Bloomberg's Michael Barr.

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Speaker 9: Michael, Good morning, Good morning, Karen. Crews have been working

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Speaker 9: to restore power knocked out by a massive weekend winter storm.

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Speaker 9: At least thirty depths have been reported in states afflicted

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Speaker 9: with severe cold. The storm dropped over a foot of

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Speaker 9: snow from Arkansas to New England. More widespread record cold

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Speaker 9: temperatures are forecast for to day, with eastern Texas through

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Speaker 9: western Pennsylvania under extreme cold warnings. Sylvania Governor John Shapiro, Well.

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Speaker 10: It was so unique about this storm was nearly every

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Speaker 10: or every one of our.

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Speaker 9: Sixty seven counties got hit. New Jersey Governor Mikey Cheryl

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Speaker 9: says clean up is underway. Cheryl says the state of

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Speaker 9: emergencies she implemented on Saturday is now over.

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Speaker 5: I think we've gone through the acute crisis.

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Speaker 4: Now it's post crisis cleanup and making sure we continue

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Speaker 4: to keep everyone safe through this cold weather. We are

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Speaker 4: endure enduring.

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Speaker 9: New York City Mayor Zorn Memdani.

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Speaker 2: While the worst is behind us, there is still more

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Speaker 2: to be done as we clear the snow and restore

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Speaker 2: our city.

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Speaker 9: And how are New Yorkers grading the new mayor on

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Speaker 9: handling the storm.

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Speaker 2: If you wanted to get out and around, you could,

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Speaker 2: and I did, so that's something to be said for.

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Speaker 9: That too, you know.

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Speaker 10: So what do you give him?

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Speaker 9: I give him an A. He's all right, he's trying

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Speaker 9: to do something good.

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Speaker 7: You get to be a bee, you get to be strong. B.

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Speaker 3: What's your grade? B?

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Speaker 10: Minus?

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Speaker 9: Officials say almost all MDA train and bus service in

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Speaker 9: New York City will operate on a regular weekday schedule. Today,

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Speaker 9: North Korea fired what appeared to be ballistic missiles off

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Speaker 9: its east coast, days after the US released a new

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Speaker 9: defense strategy. The launch comes after the US National Defense

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Speaker 9: Strategy urged South Korea to take the primary role in

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Speaker 9: deterring North Korea with critical but more limited US support.

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Speaker 9: Global News twenty four hours a day and whenever you

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Speaker 9: want it with Bloomberg News Now Michael Barr, and this

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Speaker 9: is Bloomberg Karen.

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Speaker 2: Thanks Michael. Time now for our Bloomberg Sports update, and

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Speaker 2: for that we bring in John Stashauer.

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Speaker 10: Karen, Americans had been doing well at the Australian Open

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Speaker 10: six into the quarterfinals four on the women's side, but

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Speaker 10: Coco Golf seated third, lost to the Ukrainian Alnas Fidelina

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Speaker 10: and it was not closed. Sixty one sixty two. Two

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Speaker 10: young Californians also went down. Iva Jovich, you just turned eighteen,

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Speaker 10: won only three games against top seed. They're in the

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Speaker 10: Sablanca and Lerner ten, who just turned twenty, lost in

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Speaker 10: four cents to Alex Savera Arizona, a unanimous number one

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Speaker 10: of the most recent college basketball poll. In The Wildcats

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Speaker 10: stayed undefeated, winning at BYU. That's your Bloomberg Sports update.

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Speaker 2: Stay with us. More from Bloomberg Daybreak coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 3: Good morning, I'm Nathan Hager. President Donald Trump maybe shifting

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Speaker 3: tactics after two killings of US citizens in Minneapolis immigration enforcement.

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Speaker 3: The President is sending his borders are Tom Hollman to

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Speaker 3: oversee the operation, but the White House is not shifting

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Speaker 3: blame for tensions in the state. Here's press Secretary Caroline Levitt.

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Speaker 4: This tragedy occurred as a result of a deliberate and

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Speaker 4: hostile resistance by Democrat leaders in Minnesota.

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Speaker 3: White House Press Secretary Caroline Levitt. This morning, we're joined

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Speaker 3: by Bloomberg DC Breaking News editor Alexander Pearson. So, Alex,

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Speaker 3: how big a shift is this? What kind of a

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Speaker 3: change of approach could we see? From Tom Holman in Minneapolis.

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Speaker 3: Good morning, Good morning, Nathan.

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Speaker 11: It certainly seems to be a significant shift, certainly in

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Speaker 11: terms of tone, but potentially also in strategy the Trump administration.

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Speaker 11: Trump himself and his officials were very defensive of immigration

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Speaker 11: enforcement officials in the wake of the killing last weekend

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Speaker 11: of alex pretty and ever since outcry has grown over

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Speaker 11: video footage of that particular incident. They've come on a

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Speaker 11: huge pressure also from some Republicans within Trumpson party, And

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Speaker 11: yesterday we did see the President come out with a

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Speaker 11: far more measured tone. He said he'd had a call

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Speaker 11: with the governor of Minnesota and also with the mayor

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Speaker 11: of Minneapolis, that those were good calls, they seemed to

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Speaker 11: be cooperative. And also this announcement that he was sending

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Speaker 11: his Bordi saw to Minneapolis, which in and of itself

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Speaker 11: is notable given that Tom Hoe is known within the

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Speaker 11: administration as not really being in favor of the current

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Speaker 11: operations that are happening in many YR cities. He's not

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Speaker 11: really in favor of these large scale deployments. He's in

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Speaker 11: favor of for more focused immigration enforcement. So that's certainly

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Speaker 11: being read as an attempt by the President to try

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Speaker 11: to diffuse some of the tensions, bringing down, you know,

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Speaker 11: some of the shrill tone around this issue, and to

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Speaker 11: potentially bring in someone like Tomhoman who can shift the

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Speaker 11: strategy away from what is turning out to be quite

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Speaker 11: you know, a controversial operation in that city.

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Speaker 3: Oh, with Homan coming in alex what does this mean

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Speaker 3: for the figures who had been overseeing ice enforcement in Minneapolis,

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Speaker 3: Border Patrol Commander at Large Greg Bavino and Homeland Security

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Speaker 3: Secretary Christi nom who's come under a lot of criticism

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Speaker 3: as well.

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Speaker 9: That's right.

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Speaker 11: So the current reporting is that Bavino will be removed

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Speaker 11: from the city. We that's been reported overnight. It's not

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Speaker 11: been officially confirmed yet, but that's certainly the direction seems

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Speaker 11: to be going. He'll be relieved as of his duties

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Speaker 11: and Homan will come in and actually manage ice operations

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Speaker 11: in the city. And Department of Homeland Security Secretary Christinoum

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Speaker 11: has come under a lot of criticism and there has

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Speaker 11: been some concern that maybe she her job could be

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Speaker 11: at risk. And certainly there was a report of a

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Speaker 11: night from the New York Times that she requested a

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Speaker 11: meeting with the President in the Oval Office. That meeting

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Speaker 11: took place, it lasted around two hours. There was no

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Speaker 11: indication that her job was at risk based on that conversation,

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Speaker 11: but we don't really know that much more about what

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Speaker 11: was discussed, but certainly that the meeting took place, you know,

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Speaker 11: raises some questions about, you know, how secure position is,

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Speaker 11: given that she was one of the officials who came

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Speaker 11: out strongest in support of border control in the wake

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Speaker 11: of the killing over the weekend.

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Speaker 3: Got about a minute left here, But the outrage over

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Speaker 3: these killings has Senate Democrats threatening to block a major

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Speaker 3: government funding bill unless it strips out DHS funds. What's

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Speaker 3: the risk of a government shut by the end of

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Speaker 3: the week.

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Speaker 11: Yeah, the risk is significant. So Senate Minority Leader Chuck

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Speaker 11: Schumer has threatened not to support that funding package. Unless

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Speaker 11: that DHS funding is removed. Republicans so far have not

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Speaker 11: actually said that they're willing to do that. They want

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Speaker 11: other measures to be taken, but the Democrats have not

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Speaker 11: budged on their position. They say that the measures so

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Speaker 11: far proposed insufficient. So at the moment we are heading

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Speaker 11: towards potentially a partial government shutdown whereby the bills, these

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Speaker 11: bills will not pass and as a result, there won't

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Speaker 11: be enough funding for some parts of the government. It

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Speaker 11: is noted below that ICE and other border immigration enforcement

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Speaker 11: agencies will still have funding due to last year's tax build.

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Speaker 1: Ray