Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Krisner.
Speaker 1: We begin in Washington, where President Trump officially announced his
Speaker 1: tariff policy. A minimum levy of ten percent will be
Speaker 1: applied on all imports to the US beginning at midnight
Speaker 1: on Saturday, and the President announced reciprocal tariffs at rates
Speaker 1: of roughly fifty percent below what foreign countries place on
Speaker 1: US imports. A few examples thirty four percent on Chinese goods,
Speaker 1: twenty four percent on imports from Japan, and twenty percent
Speaker 1: on all imports from the European Union. They take effect,
Speaker 1: by the way, April ninth. Here is Trump speaking earlier
Speaker 1: outside the White House.
Speaker 2: My fellow Americans, this is Liberation Day waiting for a
Speaker 2: long time. April second, twenty twenty five will forever be
Speaker 2: remembered as the day American industry was reborn, the day
Speaker 2: America's destiny was reclaimed, and the day that we began
Speaker 2: to make America wealthy again.
Speaker 1: That is President Trump speaking there. We also heard from
Speaker 1: Mary Lovely, senior fellow at the Peterson Institute for International Economics,
Speaker 1: and she called these tariffs much worse than feared. Mexico
Speaker 1: and Canada were not named. Trump is keeping the tariff
Speaker 1: exemption in place for USMCA products. However, the levees on
Speaker 1: steel and aluminum do remain in place, and twenty five
Speaker 1: percent tariffs on autos and light trucks are about to
Speaker 1: take effect. And we are now hearing from China. The
Speaker 1: government has firmly opposed the latest US tariff move. According
Speaker 1: to a statement from the Ministry of Commerce, Beijing is
Speaker 1: vowing to take countermeasures to safeguard its own interest. Meantime,
Speaker 1: in Australia, Prime Minister Anthony Albanizi called the imposition of
Speaker 1: a ten percent baseline tariff on Australian goods a poor decision,
Speaker 1: and Albanizi added he would not respond with retaliatory levies.
Speaker 1: Here is Albanizi speaking with reports for Australia.
Speaker 3: These tariffs are not unexpected, but let me be clear,
Speaker 3: they are totally unwarranted. President Trump referred to reciprocal tariffs.
Speaker 3: A reciprocal tariff would be zero, not ten percent. The
Speaker 3: administration's tariffs have no basis in logic, and they go
Speaker 3: against the basis of our two nations partnership. This is
Speaker 3: not the act of a friend.
Speaker 1: That is Australian Prime Minister Anthony Albanizi. He went on
Speaker 1: to say that Australia would strengthen its anti dumping regime
Speaker 1: and provide millions of dollars in support to affected sectors
Speaker 1: and create trade missions to diversify its export partners. Shares
Speaker 1: and Tesla jump by more than five percent today, This
Speaker 1: on hope Elon Musk will refocus on the Carmaker. This
Speaker 1: after Politico reported that Musk's time as a top advisor
Speaker 1: to President Trump may soon end. Later in the day,
Speaker 1: Press Secretary Caroline Levit posted x that Musk will depart
Speaker 1: from public service when his work at DOGE is complete,
Speaker 1: as previously stated, and she dismissed the Politico story, calling
Speaker 1: it garbage. Investors, meantime, have been concerned about Musk's absence
Speaker 1: from Tesla, as well as a lack of strategy when
Speaker 1: it comes to addressing consumer backlash. Here is Bloomberg's Max Chafkin.
Speaker 4: So we've seen that play out in the sales, and
Speaker 4: the stock is going up at the moment. My assumption
Speaker 4: is people reading this political report and thinking, Okay, look,
Speaker 4: he's going to have influence in Washington. It's it's going
Speaker 4: to be hard to like totally untangle Elon Musk from
Speaker 4: Donald Trump. But if he's not in the White House
Speaker 4: on a day to day basis, that's got to help
Speaker 4: Tesla a little bit, both because Elon Musk is going
Speaker 4: to be less distracted and perhaps because he won't suffer
Speaker 4: the brand penalty as much.
Speaker 1: That is Bloomberg's Max Chafkin. Sources tell Bloomberg that Amazon
Speaker 1: has reportedly made a last minute bid to buy the
Speaker 1: US operations of TikTok. Now President Trump will soon decide
Speaker 1: the fate of those operations before a deadline comes on Saturday,
Speaker 1: when the Chinese owner of TikTok must either find a
Speaker 1: buyer or face a ban in the US. Here is
Speaker 1: Bloomberg's Spencer Soaper.
Speaker 5: It's really a site where people dip in by what
Speaker 5: they need dip out, you know, which has been very
Speaker 5: good for Amazon. But if it could get people to
Speaker 5: linger around and be entertained there, all the better. You know,
Speaker 5: people spend even more in its advertising business will be
Speaker 5: that much more lucrative.
Speaker 1: That is Bloomberg Spencer Soaper. Earlier, The New York Times
Speaker 1: reported Amazon made and eleventh hour bid in a letter
Speaker 1: to Vice President jd Vance and Commerce Secretary Howard Lutnik. Meantime,
Speaker 1: The Financial Times was reporting that the White House is
Speaker 1: close to approving the sale of half of TikTok's US
Speaker 1: operations to a group of new outside investors, including Andresen Hurwitz,
Speaker 1: Blackstone and some other large private equity players. And that
Speaker 1: is news when you want it with Bloomberg News. Now,
Speaker 1: I'm Doug Prisner, and this is Bloomberg