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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: Good morning.

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Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 3: stories we're following today here, and.

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Speaker 2: We begin with the news out of Washington, royaling investors.

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Speaker 2: President Donald Trump is doubling down on his promise of

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Speaker 2: twenty five percent tariffs on Canada and Mexico to take

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Speaker 2: effect March fourth, and a further ten percent levy on

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Speaker 2: Chinese imports that same day. Global equities sold off on

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Speaker 2: the threat. The S and P five hundred is now

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Speaker 2: just another one point four percent drop away from wiping

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Speaker 2: all its gains since Trump's election, But the President is

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Speaker 2: pushing back it concerns the tariffs will lead to inflation.

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Speaker 4: It's a myth that's put out there by foreign countries

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Speaker 4: that really don't like paying tariffs, and especially to even up.

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Speaker 4: So we've been treated badly by a lot. We're using tariffs,

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Speaker 4: and I find, and you just have to look at

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Speaker 4: the numbers, but I find that it's not about inflation.

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Speaker 5: It's about fairness.

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Speaker 4: And the inflation for US has not existed, and I

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Speaker 4: don't think it's going to exist.

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Speaker 2: President Trump spoke at a news conference with UK Prime

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Speaker 2: Minister Keir Starmer heard on Bloomberg Radio Nathan.

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Speaker 3: And the British premier left his meeting with President Trump

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Speaker 3: with a promise of a trade deal. The President said

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Speaker 3: he'll restart trade.

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Speaker 5: Talks with the UK.

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Speaker 3: He was asked if Starmer convinced him not to impose tariffs.

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Speaker 5: He tried, He was working hard.

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Speaker 4: I'll tell you that he yearned whatever the hell they

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Speaker 4: pay him over there, but he tried. I think there's

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Speaker 4: a very good chance that in the case of these

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Speaker 4: two great friendly countries, I think we could very well

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Speaker 4: end up with a real trade deal where the tariffs

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Speaker 4: wouldn't be necessary.

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Speaker 3: President Trump's comments come after he seemed to suggest a

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Speaker 3: twenty five percent tariff on the European Union following a

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Speaker 3: meeting with French President Emmanuel mccrawn earlier this week.

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Speaker 2: And as for the ten percent tariff on China, Karen,

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Speaker 2: that will come on top of a previous ten percent

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Speaker 2: duty implemented earlier this month. A Chinese Ministry of Commerce

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Speaker 2: spokesperson said the country will defend its legitimate rights and

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Speaker 2: interests with quote all necessary measures. We get more on

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Speaker 2: the potential impact from Bloomberg's minmn low in Hong Kong.

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Speaker 6: Bloomberg Economics had crunched the numbers. They said that the

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Speaker 6: original ten percent tariffs might still be manageable for China,

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Speaker 6: but the additional ten percent that would be equivalent to

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Speaker 6: about double the scale of the first trade war. It

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Speaker 6: could cut China's exports to the US by about fifty percent.

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Speaker 2: Bloomberg's Minmnlow says the new tariffs will come just one

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Speaker 2: day before President Shi Jinping heads into the Chinese Communist

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Speaker 2: Party's biggest political meeting of the year, where his lieutenants

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Speaker 2: will unveil their economic blueprint for twenty twenty five.

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Speaker 3: Well Nathan back in Washington, President Trump is getting ready

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Speaker 3: for another pivotal meeting today with the Ukrainian President, Vladimir Zelensky,

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Speaker 3: and Bloomberg's Amy Morris has a preview from the nation's capital.

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Speaker 7: President Trump expects to sign a deal with Zelensky allowing

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Speaker 7: the US access to Ukraine's minerals in exchange for military support.

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Speaker 4: We're going to have a very good meeting. We're going

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Speaker 4: to get along really well. Okay, we have a lot

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Speaker 4: of respect. I have a lot of respect for him.

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Speaker 4: We've given him a lot of equipment and a lot

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Speaker 4: of money. But they have fought very bravely no matter

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Speaker 4: how you figure it.

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Speaker 7: But a White House National security official tells The New

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Speaker 7: York Times the deal does not include any guarantee of

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Speaker 7: future war funding, a difference that is expected to be

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Speaker 7: at the center of this meeting in Washington. Amy Morris

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Speaker 7: Bloomberg Radio.

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Speaker 2: Okamie, thank you. Ahead of today's meeting, President Trump walked

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Speaker 2: back his recent criticism of Zelenski. A reporter asked if

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Speaker 2: he still thinks Ukraine's president is a dictator?

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Speaker 8: Did I say that?

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Speaker 4: I can't believe I said that next ration.

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Speaker 2: And President Trump had called Zelenski a dictator without elections,

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Speaker 2: in social media posts and in recent speeches.

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Speaker 3: Well, we turned to the markets now, Nathan, and later

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Speaker 3: this morning we get a key data point that traders

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Speaker 3: are keeping a close eye on the FEDS preferred inflation gauge,

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Speaker 3: the PCE indexes do at eight thirty am, Wall Street Time,

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Speaker 3: and Bloomberg's Michael McKee joins us with the preview.

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Speaker 9: Wall Street is looking for a bit of a silver

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Speaker 9: lining amid somewhat dark inflationary clouds. Economists anticipate a soft

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Speaker 9: PCE report that will see year over year inflation fall.

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Speaker 9: That would contrast with other price indicators for January, like

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Speaker 9: CPI that came in higher and raised questions about the

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Speaker 9: durability of inflation. If inflation is sticky, the Fed isn't

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Speaker 9: going to be inclined to cut rates again, but they

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Speaker 9: might if the economy is seriously slowing. We'll get some

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Speaker 9: evidence on that from the spending side of the PCE report.

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Speaker 9: Spending forecasts to be down from December. Michael McKee, Bloomberg Radio.

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Speaker 3: All right, Michael, thank you. I'll stay with Bloomberg for

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Speaker 3: a full PCEE coverage on Bloomberg Surveillance. We'll break the

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Speaker 3: numbers down live here on Bloomberg Radio and on the

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Speaker 3: Bloomberg podcast page on YouTube.

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Speaker 2: Well, Caro, we want to turn to crypto markets now,

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Speaker 2: because bitcoin looks like it's been sliding off a cliff

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Speaker 2: really for the last several weeks. Bloomberg's John Tucker is

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Speaker 2: here with more. John, just how bad has this sell off?

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Speaker 5: Then?

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Speaker 8: Well, remember NATed bitcoin hit a peak January twenty first,

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Speaker 8: it touched one hundred seven thousand dollars and this morning

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Speaker 8: it is right around eighty thousand dollars per token. It's

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Speaker 8: lost over a quarter of its value in just over

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Speaker 8: a month. This has slined of almost twenty five percent.

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Speaker 8: Other tokens, like ether, they're plunging as well. And the

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Speaker 8: reason behind it President Trump's latest tarer threats investors have

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Speaker 8: dump risk assets like crypto. Last time we saw sentiment

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Speaker 8: this bad was in twenty twenty two, and you'll remember

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Speaker 8: that it was the so called crypto Winter. A crypto

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Speaker 8: was one of the most popular Trump trades in global markets,

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Speaker 8: buying bitcoin on the expectation that the president's crypto friendly

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Speaker 8: approach would lead to a broad rally in New York.

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Speaker 8: I'm John Tucker, Bloomberg Radio.

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Speaker 3: All right, John, thank you to company News. Now Meta

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Speaker 3: Platforms it's said to be in talks with Apollo for

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Speaker 3: thirty five billion dollars in financing to help develop data

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Speaker 3: centers in the US. Sources say the alternative asset manager

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Speaker 3: has discussed a major part of the financing, and we're

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Speaker 3: also told KKR is part of the investor group. PAMETA

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Speaker 3: has said it plans to spend as much as sixty

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Speaker 3: five billion dollars on AI projects this year, and checking

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Speaker 3: Meta shares this morning, they're up half percent.

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Speaker 2: Staying with tech, Karen. Dell's earnings top expectations. The company

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Speaker 2: delivered a strong outlook for servers optimized for artificial intelligence.

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Speaker 2: Pcmaker expects to ship fifteen billion dollars worth this fiscal year.

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Speaker 2: That's a fifty percent jump from the year before, but

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Speaker 2: Dell also says its gross margin will fall one percentage

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Speaker 2: point due to the high cost of Nvidia chips and

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Speaker 2: checking Dell shares this morning, they are down more than

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Speaker 2: two percent, Nathan.

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Speaker 3: The security is an exchange commission as expressing concerns about

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Speaker 3: a first of its kind private credit exchange traded fund.

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Speaker 3: In a letter to its backers State Street and Apollo,

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Speaker 3: the SEC said it wants to know more about its liquidity,

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Speaker 3: its name, and its ability to comply with valuation rules.

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Speaker 3: The ETF launched yesterday under the ticker PRIIV. A filing

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Speaker 3: show There's the fun will cap liquid investments at fifteen percent,

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Speaker 3: but private credit is expected to take up ten to

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Speaker 3: thirty five percent of its portfolio.

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Speaker 2: Speaking of going private, Karen, there's a new Bloomberg newsletter

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Speaker 2: just on that topic. It is called Going Private. Still

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Speaker 2: Every dear inbox Wednesdays and Fridays, bringing you coverage of

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Speaker 2: private markets and the forces moving capital away from the

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Speaker 2: public eye. Subscribe to the Going Private newsletter now at

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Speaker 2: bloomberg dot com slash going Private.

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Speaker 3: And it's time now for a look at some of

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Speaker 3: the other stories making news in New York and around

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Speaker 3: the world. And for that we're joined by Bloomberg's Michael Barr. Michael,

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Speaker 3: Good morning, Good morning, Karen.

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Speaker 10: The mystery deepens into the depths of two time Oscar

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Speaker 10: winner Gene Hackman, his wife, and their dog. Police in

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Speaker 10: New Mexico have now ruled the depth suspicious. Authorities say

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Speaker 10: there were no initial signs of a natural gas leak

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Speaker 10: or carbon monoxide in Hackman's Santa Fe home, but they

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Speaker 10: add it is possible the gas could have dissipated in

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Speaker 10: the time between their deaths and when authorities arrived on

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Speaker 10: the scene Wednesday, the front door was open. Santa Fe

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Speaker 10: Sheriff Aiden Mendoza says, in terms of potential causes of death,

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Speaker 10: everything is on the table.

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Speaker 11: All I can see is they have been deceased for

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Speaker 11: quite a while. You know, that's a determination that's better

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Speaker 11: suited for Omi and the experts. But it sounds like

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Speaker 11: they had been deceased for a while, and I don't

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Speaker 11: want to take a guest in reference to how long

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Speaker 11: that was.

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Speaker 10: Sheriff Mendoza says they will do an autopsy and a

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Speaker 10: toxicology on the bodies to determine whether there were drugs

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Speaker 10: in their system or was their carbon monoxide in their blood.

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Speaker 10: It could take at least eight weeks. New Jersey officials

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Speaker 10: say the spread of measles in the state involves three

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Speaker 10: members of the same family. State Health Commissioner doctor Caitlin

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Speaker 10: Baston says a child in Bergen County traveled internationally and

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Speaker 10: two close family members were later infected.

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Speaker 3: We are doing safe contact tracing.

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Speaker 12: We're out there trying to keep this contained.

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Speaker 10: Doctor Bashton says all three were unvaccinated. As the measles

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Speaker 10: outbreak in West Texas increases, officials in Houston are urging

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Speaker 10: residents to get vaccinated ahead of upcoming events that will

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Speaker 10: attract large crowds like the Houston Livestock Show and rodeo

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Speaker 10: and spring break. Doctor Peter Hotez, co director of the

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Speaker 10: Texas Children's Hospital Center for Vaccine Development, said travelers should

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Speaker 10: come to Texas because the measles vaccine is very effective.

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Speaker 12: Don't change your plans. We don't want people canceling going

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Speaker 12: to the rodeo because of worry about measles for the

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Speaker 12: simple reason it's not like COVID. Remember, we have a

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Speaker 12: very effective vaccine. A single dose of the measles vaccine

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Speaker 12: is more than ninety percent protective.

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Speaker 10: Earlier this week, the Texas Department of State Health Services

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Speaker 10: reported the first measles death of an unvaccinated school age

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Speaker 10: child in Lubbock. The Vatican says that Polpe France has

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Speaker 10: continues to improve from double deemonia, though doctors say he

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Speaker 10: needs more days of clinical stability before they reveal there

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Speaker 10: guarded prognosis. Global News twenty four hours a day, whenever

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Speaker 10: you want it with Bloomberg News Now Michael Barb, this

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Speaker 10: is Bloomberg Karen.

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Speaker 3: All right, Michael Barr, thank you time now for the

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Speaker 3: Bloombergy Sports update, brought to you by Tri State Outie.

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Speaker 3: Here's John stash Hour, John, Good morning.

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Speaker 1: Good morning, Karen. One of the bigger questions of the

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Speaker 1: NFL offseason was answering Travis Kelcey is not going to retire.

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Speaker 1: He'll be back for a thirteenth season playing tight end

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Speaker 1: for Kansas City. Kelsey sit in the statement the Super

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Speaker 1: Bowl blowout loss left a bad taste. Wasn't the way

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Speaker 1: he wanted to go out. The Chiefs are also keeping

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Speaker 1: Pro Bowl guard Tray Johnson. They're giving him the franchise tag.

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Speaker 1: NBA Orlando a huge night for Steph Curry fifty six points.

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Speaker 1: He made twelve three pointers in the third quarter. Curry

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Speaker 1: outscored the Magic by himself. The Warriors won one twenty one,

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Speaker 1: one fifteen. The Lakers beat Minnesota one seventeen one oh two.

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Speaker 1: Lebron James and Luka Donzi combined for fifty four points

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Speaker 1: and thirty rebounds. Are in Memphis tonight. They may have

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Speaker 1: Mitchell Robinson in the lineup for the first time this season,

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Speaker 1: back after a second surgery on his ankle. The Nets

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Speaker 1: tonight host Portland and Cam Thomas returns for Brooklyn. He's

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Speaker 1: missed most of the last nearly four months. When Thomas

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Speaker 1: heard his hamstring, he was averaging twenty five points a games.

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Speaker 1: Bacon of injuries, Rangers have a big one star defenseman

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Speaker 1: Adam Fox upper body placed on injured reserve. Rangers coach

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Speaker 1: is Peter Loveolette.

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Speaker 13: Yeah, I never never want to see that happen, for sure.

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Speaker 13: He's such an important part of the team and play

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Speaker 13: so many minutes for us, So that's always a tough break.

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Speaker 13: But now that we know that we have an opportunity

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Speaker 13: for others to step up.

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Speaker 1: Rangers are at the Garden tonight to play Toronto Columbus.

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Speaker 10: Last night beat Detroit.

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Speaker 1: The Rangers are chasing those two teams for a playoffs

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Speaker 1: bot Blue Shirt's currently four points behind Islanders. Won two

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Speaker 1: to one in Boston College Hoops. Heartbreaking loss for Rutgers.

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Speaker 1: Michigan won on a three pointer at the Buzzer PGA

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Speaker 1: tors and Palm Beach and in the opening round of

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Speaker 1: the Jake knapshot fifty nine. He's got a foreshot lead.

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Speaker 1: It's the fifteenth sub sixty round in PGA Tour history.

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Speaker 1: It's the first ever shot in the state of Florida.

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Speaker 1: John stash Away, Bloomberg Sports Kenny Nathan.

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Speaker 14: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and.

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

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Speaker 1: Business app.

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Speaker 9: This is Bloomberg Daybreak.

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Speaker 2: Good morning, I'm Nathan Hager. Ukrainian President Vladimir Zelenski will

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Speaker 2: be making a personal appeal to President Trump not to

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Speaker 2: sell out his country to Russia when he heads to

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Speaker 2: the White House later today, but the US President appears

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Speaker 2: focused on a critical minerals deal with Ukraine, and when

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Speaker 2: asked whether he would back up European peacekeepers in a

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Speaker 2: ceasefire with Russia.

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Speaker 4: I think we're very well advanced on a deal, but

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Speaker 4: we have not made a deal yet, so I don't

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Speaker 4: like to talk about peacekeeping until we have a deal.

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Speaker 2: President Trump, speaking there alongside UK Prime Minister Keir Starmer

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Speaker 2: at a White House news conference heard on Bloomberg Radio.

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Speaker 2: For more, We are joined by blooming Europe, Middle East

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Speaker 2: and African News director Rosalind mathieson Roz, It's great to

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Speaker 2: speak with you this morning. It seems as though this

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Speaker 2: meeting with Zolensky and Trump is pivotal, particularly for Zolensky.

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Speaker 2: What should we be expecting today?

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Speaker 5: Good morning, Good morning. Well, that's right.

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Speaker 14: It's a really important meeting for vladimirs Lensky to be

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Speaker 14: doing this in person with Donald Trump, ostensibly for the

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Speaker 14: minerals agreement, but more broadly to be able to talk

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Speaker 14: to Donald Trump about again what he feels he needs

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Speaker 14: the US to be engaging on when it comes to

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Speaker 14: the potential for a ceasefire in Ukraine and to be

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Speaker 14: doing that directly, because the concern has been for some

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Speaker 14: weeks now by Ukraine and Europe is that they're being

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Speaker 14: cut out of the conversation and that Donald Trump is

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Speaker 14: having these very directly with Russia, with the Russian leader,

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Speaker 14: and then US and Russian officials have held several meetings

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Speaker 14: of late to discuss this and other things in the

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Speaker 14: bilateral relationship.

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Speaker 5: And so, you know, is it.

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Speaker 14: The risk that Russia and the US really themselves come

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Speaker 14: to a deal and then present it to Ukraine.

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Speaker 5: Is this is what a cease far is going to look like?

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Speaker 14: And so that this is a real opportunity in a

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Speaker 14: way for Vladimir Lynsky to present his case to Donald Trump,

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Speaker 14: and against the backdrop of what's been a very very

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Speaker 14: fraught relationship between the two of them of late. I mean,

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Speaker 14: Donald Trump recently called Zlinsky a dictator, although he then

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Speaker 14: seemingly walked that back again overnight. I say, he can't

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Speaker 14: believe that that's how he referred to the Ukrainian president,

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Speaker 14: but it does show again the level of direct tension

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Speaker 14: between these two men.

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Speaker 2: Yeah, just the fact that the President did sort of

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Speaker 2: walk that just a little bit. Does that indicate that

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Speaker 2: we could see a little bit more of a warming

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Speaker 2: of relations when we have seen this almost rush to

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Speaker 2: reach a deal between the US and Russia when it

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Speaker 2: comes to Ukraine.

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Speaker 14: Well, Donald Trump does like a deal, and he's got

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Speaker 14: at least an initial deal here on the minerals side.

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Speaker 14: It's not the exact terms of the US was initially

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Speaker 14: pushing for, but it does stand to benefit the US

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Speaker 14: economically and certainly gets them very much in the door

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Speaker 14: on the vast mineral wealth and the energy wealth, and

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Speaker 14: even the ports and infrastructure to some extent of Ukraine.

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Speaker 14: And so Donald Trump be pleased to have an initial

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Speaker 14: deal on that front.

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Speaker 5: Perhaps that takes some of the pressure.

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Speaker 14: Off, but either way, he has indicated he does want

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Speaker 14: to cease FI on Ukraine sooner rather than later. He's

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Speaker 14: talked about Easter, which seems to be not necessarily that

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Speaker 14: feasible given all the moving parts that are involved. But

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Speaker 14: you can imagine that even talking with Selinsky today is

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Speaker 14: going to press him to get to the table very

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Speaker 14: quickly for a direct conversation with the Russian president.

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Speaker 2: Oh last thirty seconds Rose, it seems as though the

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Speaker 2: pressure is on still though when it comes to trade.

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Speaker 2: This talk of tariffs in effect by this Tuesday.

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Speaker 14: Well, that's right, and so Donald Trump is keeping the

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Speaker 14: pressure up in a bunch of places on tariff spit

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Speaker 14: allies including Canada, but also adversis, including China where he's

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Speaker 14: announced another ten percent on top of the initial ten percent,

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Speaker 14: and still threatening Europe with twenty five percent.

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Speaker 5: Tariffs as well.

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Speaker 14: So clearly operating in the mode again that whether you're

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Speaker 14: an ally and adversary that he's coming to you on

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Speaker 14: the trade front. The question is do these things get

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Speaker 14: extended again in terms of exemptions, do they get pushed

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Speaker 14: back further.

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Speaker 5: Do they get enacted? And that's really the unknown unknown

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Speaker 5: right now.

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Speaker 3: This is Bloomberg Daybreak, your morning podcast on the stories

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Speaker 3: making news from Wall Street to Washington and beyond.

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Speaker 2: And I'm Nathan Hager. Join us again tomorrow morning for

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