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

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Speaker 1: We begin in Washington, d C. Where Senate Democratic Leader

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Speaker 1: Chuck Schumer has dropped his threat to block a Republican

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Speaker 1: spending bill. Now this will pave the way to avoid

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Speaker 1: a US government shutdown. Schumer addressed the Senate, saying there

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Speaker 1: will almost certainly be enough Democratic votes to advance the

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Speaker 1: House funding bill on Friday.

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Speaker 2: While the cr bill is very bad, the potential for

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Speaker 2: a shutdown has consequences for America that are much much worse.

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Speaker 1: That was Senate Democratic Leader Chuck Schumer speaking there. He

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Speaker 1: went on to say that a shutdown would give Donald

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Speaker 1: Trump and Elon Musk carte blanche. An American Airlines flight

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Speaker 1: was diverted tonight to the Denver International Airport after experiencing

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Speaker 1: engine vibrations. This Boeing seven thirty seven eight hundred landed safely,

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Speaker 1: but then a jet engine caught fire while the aircraft

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Speaker 1: was taxing to the gate. The FAA says it did

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Speaker 1: prompt the evacuation of dozens of passengers. The flight had

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Speaker 1: one hundred and seventy two passengers and a crew of

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Speaker 1: six on board, traveling from Colorado Springs to Dallas. Now,

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Speaker 1: some of the passengers were evacuated from the aircraft using slides.

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Speaker 1: Nine people, we are told, suffered minor injuries. The US

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Speaker 1: equity market retreated into a correction today after some heated

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Speaker 1: rhetoric in the trade war. Now, the Trump administration's policy

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Speaker 1: on tariffs is expected to lead to much slower growth,

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Speaker 1: even a possible recession, but former US Treasury Secretary Stephen

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Speaker 1: Mnuschhan pushed back on that notion today. Here is muchI

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Speaker 1: speaking earlier to Bloomberg.

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Speaker 3: I know there's some talk about are we going to

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Speaker 3: go into a recession. I don't see us at all

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Speaker 3: going into a recession. I think we could have a

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Speaker 3: little bit of a slowdown in the economy as we

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Speaker 3: pull back on government spending. But I don't think investors

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Speaker 3: should be concerned about a recession.

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Speaker 1: Former US Treasury Secretary Steve imminution there he also advised

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Speaker 1: not to overreact to the current selloff in stocks. The

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Speaker 1: S and P five hundred is now down ten percent

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Speaker 1: from its peak in mid February, meeting the accepted definition

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Speaker 1: of a correction, and since that all time high, the

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Speaker 1: SNP has lost about five trillion dollars in market value.

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Speaker 1: Earlier today, President Trump threatened to enact a two hundred

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Speaker 1: percent levy on European wine, champagne, and other alcoholic beverages.

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Speaker 1: He made the threat in response to the EU's plan

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Speaker 1: to tax American whiskey. Commerce Secretary Howard Lutnik tells Bloomberg

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Speaker 1: the EU's duties are disrespectful.

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Speaker 4: If you make him unhappy, he responds, unhappy, But come on,

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Speaker 4: let's get back to the core basics here, which is

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Speaker 4: a trading policy that says America has allowed the world

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Speaker 4: to lean on us, to take from us, to grow

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Speaker 4: off of us, and now it's time for a little balance.

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Speaker 4: We've got a two trillion dollar budget deficit. We want

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Speaker 4: to bring certain jobs home. Let the President do the

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Speaker 4: right thing for America.

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Speaker 1: That is Commerce Secretary Howard Lutnik speaking there now. President

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Speaker 1: Trump also said he would not repeal tariffs on steel

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Speaker 1: and aluminum those that took effect earlier in the week,

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Speaker 1: nor would Trump back off on plans for sweeping reciprocal

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Speaker 1: tariffs on global trading partners. Those are set to start

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Speaker 1: as soon as April second. So if investors believe the

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Speaker 1: Fed will come to the rescue in this situation. Should

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Speaker 1: tariffs damage the economy, they may be wrong. That's according

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Speaker 1: to the former president of the New York Fed, Bill Dudley.

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Speaker 5: I think the problem is that the terrors are bad

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Speaker 5: for growth and bad for inflation, which puts to the

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Speaker 5: FED in a bind. Basically, they're missing by more on

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Speaker 5: both sides of their mandate. So I think in the

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Speaker 5: near term the Fed's could basically be on hold waiting

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Speaker 5: for more information.

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Speaker 1: Bill Dudley there. He is the former head of the

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Speaker 1: New York Fed. He's also a Bloomberg Opinion columnist. He

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Speaker 1: went on to say the FED could be in a

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Speaker 1: bind if tariffs lead to slower growth and high inflation expectations.

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Speaker 1: You can read more in Dudley's latest column for Bloomberg

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Speaker 1: Opinion at Bloomberg dot com, slash opinion or opi and

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Speaker 1: go on the Bloomberg terminal. Canada's top minister believes his

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Speaker 1: country's change in leadership may provide a chance to reset

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Speaker 1: its troubled relationship with the US. Mark Karney will become

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Speaker 1: Prime Minister on Friday, and he's expected to talk to

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Speaker 1: President Trump in the coming days. Here is Canada's industry minister,

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Speaker 1: Francois Philippe Champinn.

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Speaker 6: I think that we insisted that they may take that

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Speaker 6: opportunity to engage with the new Prime minister in a

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Speaker 6: different way, with respect and certainly looking at opportunities that

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Speaker 6: we can work together and make sure that you know

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Speaker 6: we changed in Mavia Bidde channel about looking at opportunities

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Speaker 6: and competitiveness in North America.

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Speaker 1: That is Canada's Industry Minister, Francois Philippe Champinn speaking now.

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Speaker 1: Canadian officials have struck an upbeat tone, although it does

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Speaker 1: remain unclear whether President Trump will retaliate against Canada's countermeasures

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Speaker 1: on his steel and aluminium tariffs. And that is news

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Speaker 1: when you want it with Bloomberg News. Now, I'm dead, prisoner,

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Speaker 1: and this is Bloomberg