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Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Chrisner.

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Speaker 1: The US and the European Union have reached a trade deal.

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Speaker 1: Most European goods imported into the US will now face

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Speaker 1: a tariff of fifteen percent that would include automobiles. President

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Speaker 1: Trump spoke earlier to reporters alongside European Commission President Ursul Evanderleyan.

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Speaker 2: So I just want to congratulate you.

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Speaker 3: I think it's.

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Speaker 2: I think it's great that we made a deal today

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Speaker 2: instead of playing games and maybe not making a deal

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Speaker 2: at all. I think it's I'm going to let you say,

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Speaker 2: but I think it's the biggest deal ever made.

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Speaker 1: That is President Trump there now. Vonderline said the tariff

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Speaker 1: freight would be all inclusive. However, Trump said it did

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Speaker 1: not include pharmaceuticals and medals. He said the tariff on

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Speaker 1: steel and aluminum will stay the way it is at

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Speaker 1: fifty percent. As a part of this deal, the EU

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Speaker 1: agreed to purchase seven hundred and fifty billion dollars in

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Speaker 1: US energy and to invest six hundred billion dollars in

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Speaker 1: the US on top of existing and ve Trump also

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Speaker 1: said this deal will open up countries markets to trade

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Speaker 1: with the US at zero tariffs. Trump said the European

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Speaker 1: Union will also purchase vast amounts of military equipment separately.

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Speaker 1: Commer Secretary Howard Lutnik said a decision on semiconductors, which

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Speaker 1: like drugs, are subject to an ongoing investigation that opens

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Speaker 1: the door to separate tariffs, would be dealt with in

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Speaker 1: roughly two weeks. The US and China are reportedly expected

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Speaker 1: to extend their tariff truce by another ninety days. The

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Speaker 1: South China Morning Post reports the two countries will not

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Speaker 1: impose additional tariffs on each other during the extension. On Monday,

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Speaker 1: trade talks between US Treasury Secretary Scott Besant and Chinese

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Speaker 1: Vice Premier Huhli Fung are scheduled to start in Stockholm. Meantime, Today,

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Speaker 1: Commerce Secretary Howard Lutnik hinted that the future of Chinese

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Speaker 1: owned app TikTok may be a part of these talks.

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Speaker 1: Here's Lutnik speaking earlier to Fox News Sunday.

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Speaker 4: The President really likes TikTok, and he said it over

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Speaker 4: and over again because you know, it was a good

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Speaker 4: way to communicate with young people. But let's face it,

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Speaker 4: you can't have the Chinese have an app on one

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Speaker 4: hundred million American phones. That is just not okay.

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Speaker 1: That is Commerce Secretary Howard Lutnik, speaking earlier to Fox News.

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Speaker 1: Samsung Electronics will produce semiconductors for Tesla under a new

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Speaker 1: sixteen and a half billion dollar agreement. It's expected to

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Speaker 1: give Samsung a boost in its underperforming foundry division. Now,

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Speaker 1: Tesla already does business with Samsung's contract chip making division.

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Speaker 1: Bloomberg Intelligence says Samsung's new deal with Tesla could boost

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Speaker 1: foundry sales by ten percent annually. President Trump is raising

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Speaker 1: pressure on Chair J. Powell for a cut in the

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Speaker 1: Fed's policy rate ahead of this week's meeting. Today, White

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Speaker 1: House Budget Director Russell Vote double down on the President's

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Speaker 1: criticism of Powell. Vote spoke Sunday to CBS Face the nation.

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Speaker 5: You have countries lowering rates, and yet we don't see

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Speaker 5: that in this country, given all of the positive economic

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Speaker 5: indicators that we're seeing, and then we have fiscal mismanagement

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Speaker 5: at the FED with regard to this building renovation.

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Speaker 1: That's OMB Director Russell Vote, speaking earlier to CBS. This

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Speaker 1: week will be the busiest of the earning season. Over

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Speaker 1: forty percent of companies within the s and P five

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Speaker 1: hundred will report. The highlights include Microsoft and Meta platforms

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Speaker 1: on Wednesday. Amazon and Apple are due Thursday. Bloomberg's Charlie

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Speaker 1: Pella takes a closer look at what we may hear

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Speaker 1: from the Iphonemaker.

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Speaker 6: Investors will be listening closely for any comments about Apple's

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Speaker 6: capital expenditures and investments in its AI strategy. Laura Martin

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Speaker 6: is a senior analyst.

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Speaker 3: That Needum, so we really want to hear how they

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Speaker 3: think they can compete when they are saying nothing about

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Speaker 3: Jenerator AI and they're spending twelve billion dollars on capex,

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Speaker 3: which is the same number at Apple for the last

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Speaker 3: three years.

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Speaker 6: Bloomberg Intelligence says services sales might increase eleven percent to

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Speaker 6: twenty six point nine billion dollars based on consensus, while

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Speaker 6: Apple's greater China revenue was seen rising for the first

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Speaker 6: time in two years in New York. Charlie Pellett Bloomberg Radio.

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Speaker 1: We go to Michigan next, where authorities say at least

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Speaker 1: eleven people were injured in a stabbing on Saturday in

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Speaker 1: a Traverse City Walmart store. A forty two year old

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Speaker 1: male suspect is in custody. He was apprehended within minutes.

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Speaker 1: Here is Grand Travers County Sheriff Mike Shay.

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Speaker 7: The suspect, who has been identified as forty two year

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Speaker 7: old Bradford James Gilly of Afton, Michigan, was arrested and

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Speaker 7: transported to Grand Trevis County Jail, where he will remain

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Speaker 7: pending formal charges in arraignment.

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Speaker 1: That is Grand Travers County Sheriff Mike Shay speaking there now.

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Speaker 1: Gilly is believed to have acted alone. A spokesperson for

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Speaker 1: Walmart said the Traverse City store will continue working with

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Speaker 1: law enforcement for the duration of the investigation. And that

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Speaker 1: is news when you want it with Bloomberg News. Now,

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Speaker 1: I'm Doug prisoner and this is