1
00:00:00,120 --> 00:00:09,520
Speaker 1: Bloomberg Audio Studios, Podcasts, Radio new This is.

2
00:00:09,480 --> 00:00:12,399
Speaker 2: The Bloomberg Day bac AT podcast, available every morning on Apple,

3
00:00:12,480 --> 00:00:15,360
Speaker 2: Spotify or wherever you listen. It's Friday, the thirty first

4
00:00:15,360 --> 00:00:18,239
Speaker 2: of January in London. I'm Caroline Hepkere.

5
00:00:17,880 --> 00:00:20,800
Speaker 1: And I'm Stephen Carroll. Coming up today, the US President

6
00:00:20,880 --> 00:00:25,640
Speaker 1: vows to impose punitive tariffs on Mexico and Canada from tomorrow.

7
00:00:25,840 --> 00:00:31,400
Speaker 2: Investigators recover flight recorders following the mid air crash over Washington, DC,

8
00:00:31,880 --> 00:00:35,880
Speaker 2: as President Trump makes unfounded claims about why he thinks

9
00:00:35,920 --> 00:00:36,559
Speaker 2: it happened.

10
00:00:36,800 --> 00:00:41,599
Speaker 1: Plus, regulators investigate the reliability of UK economic data as

11
00:00:41,600 --> 00:00:44,360
Speaker 1: the study finds women trust the Bank of England less

12
00:00:44,360 --> 00:00:44,840
Speaker 1: than men.

13
00:00:45,080 --> 00:00:47,200
Speaker 2: Let's start with a roundup of our top stories.

14
00:00:47,640 --> 00:00:51,279
Speaker 1: Donald Trump is poised to impose twenty five percent tariffs

15
00:00:51,280 --> 00:00:54,720
Speaker 1: on nine hundred billion dollars worth of goods from Mexico

16
00:00:54,840 --> 00:00:58,760
Speaker 1: and Canada from tomorrow. Speaking from the Oval Office, the

17
00:00:58,920 --> 00:01:02,200
Speaker 1: US President vow to follow through on his self imposed

18
00:01:02,240 --> 00:01:05,959
Speaker 1: deadline of the first of February to apply the charges.

19
00:01:06,200 --> 00:01:10,120
Speaker 3: Be announcing the tariffs on Canada and Mexico for a

20
00:01:10,200 --> 00:01:12,800
Speaker 3: number of reasons. Number one is the people that are

21
00:01:12,800 --> 00:01:16,199
Speaker 3: poured into our country so horribly and so much. Number

22
00:01:16,240 --> 00:01:18,320
Speaker 3: two of the drugs spent and all and everything else

23
00:01:18,319 --> 00:01:20,640
Speaker 3: that have come into the country. In Number three, of

24
00:01:20,760 --> 00:01:24,319
Speaker 3: the massive subsidies that we're giving to Canada and to

25
00:01:24,400 --> 00:01:28,120
Speaker 3: Mexico in the form of deficits. And I'll be putting

26
00:01:28,160 --> 00:01:32,360
Speaker 3: the tariff of twenty five percent on Canada and separately

27
00:01:32,400 --> 00:01:34,080
Speaker 3: twenty five percent on Mexico.

28
00:01:34,680 --> 00:01:37,440
Speaker 1: Trump out of the tariff levels may or may not

29
00:01:37,680 --> 00:01:40,959
Speaker 1: rise with time. Both Canada and Mexico have pledged to

30
00:01:41,000 --> 00:01:45,200
Speaker 1: respond to any trade levies, including with potentially retaliatory tariffs.

31
00:01:45,480 --> 00:01:49,000
Speaker 1: Both countries currencies weakened on the news as the dollar strengthened.

32
00:01:49,880 --> 00:01:53,480
Speaker 2: Control tower staffing at Reagan National Airport was quote not

33
00:01:53,800 --> 00:01:56,720
Speaker 2: normal on the night of the Washington, DC plane crash

34
00:01:56,960 --> 00:02:00,000
Speaker 2: that killed sixty seven people. That's according to a report

35
00:02:00,160 --> 00:02:04,480
Speaker 2: from the Federal Aviation Administration obtained by the Associated Press.

36
00:02:05,040 --> 00:02:07,800
Speaker 2: This as The New York Times reports that a controller

37
00:02:07,840 --> 00:02:10,960
Speaker 2: on duty was doing the job of two employees when

38
00:02:10,960 --> 00:02:16,040
Speaker 2: the American Airlines passenger jet hit a military helicopter. The reporting,

39
00:02:16,280 --> 00:02:20,920
Speaker 2: not independently verified by Bloomberg, came as investigators recovered the

40
00:02:21,040 --> 00:02:25,680
Speaker 2: cockpit voice and flight data recorders from the airplane. The

41
00:02:25,760 --> 00:02:30,799
Speaker 2: chair of America's National Transportation Safety Board, Jennifer Homendi, says

42
00:02:30,919 --> 00:02:33,640
Speaker 2: that finding answers will be a long process.

43
00:02:34,440 --> 00:02:38,280
Speaker 4: As part of any investigation, we look at the human,

44
00:02:38,680 --> 00:02:42,079
Speaker 4: the machine, and the environment. So we will look at

45
00:02:42,120 --> 00:02:46,519
Speaker 4: all the humans that were involved in this accident. Again,

46
00:02:46,680 --> 00:02:48,840
Speaker 4: we will look at the aircraft, we will look at

47
00:02:48,840 --> 00:02:51,360
Speaker 4: the helicopter. We will look at the environment in which

48
00:02:51,360 --> 00:02:54,520
Speaker 4: they were operating in. That is that is standard in

49
00:02:54,639 --> 00:02:56,440
Speaker 4: any part of our investigation.

50
00:02:57,600 --> 00:03:02,720
Speaker 2: Jennifer Homendi, speaking President Aren't, blamed diversity, equity and inclusion

51
00:03:02,760 --> 00:03:06,840
Speaker 2: programs for the crash, while simultaneously confirming that he didn't

52
00:03:06,880 --> 00:03:10,320
Speaker 2: know the cause of the crash. Chump also signed an

53
00:03:10,360 --> 00:03:14,840
Speaker 2: executive action directing the Department of Transportation and the FAA

54
00:03:15,360 --> 00:03:19,200
Speaker 2: to review hiring decisions and safety protocols made during the

55
00:03:19,280 --> 00:03:24,000
Speaker 2: prior four years. There is no evidence that diversity initiatives

56
00:03:24,080 --> 00:03:28,120
Speaker 2: led to the crash or result in poor operational outcomes.

57
00:03:28,919 --> 00:03:32,760
Speaker 1: US officials are investigating whether Chinese AI startup Deep Seeks

58
00:03:32,840 --> 00:03:36,640
Speaker 1: circumvented US restrictions on Nvidia chip sales by buying them

59
00:03:36,680 --> 00:03:40,800
Speaker 1: through third parties in Singapore. Deep Seek's chatbot R one

60
00:03:40,840 --> 00:03:43,360
Speaker 1: has raised suspicions that it may have been built using

61
00:03:43,400 --> 00:03:48,360
Speaker 1: Western technology. Our senior executive Technology editor Tom Giles says

62
00:03:48,360 --> 00:03:50,240
Speaker 1: authorities will have many questions.

63
00:03:50,680 --> 00:03:52,840
Speaker 5: Are these curbs at the US is putting in place?

64
00:03:53,000 --> 00:03:56,680
Speaker 5: Are these limitations on Nvidia chips for example? Are there

65
00:03:56,840 --> 00:04:00,560
Speaker 5: ways that the Chinese are circumventing those? And they use

66
00:04:00,680 --> 00:04:04,280
Speaker 5: third parties in Singapore for example, where we have seen

67
00:04:04,400 --> 00:04:05,840
Speaker 5: a lot of them. We've been writing about a lot

68
00:04:05,880 --> 00:04:09,120
Speaker 5: of Chinese companies. Startups have been moving into Singapore. What

69
00:04:09,160 --> 00:04:10,920
Speaker 5: the US wants to know is are they getting their

70
00:04:10,920 --> 00:04:13,160
Speaker 5: hands on this illegal? This stuff illegally?

71
00:04:13,160 --> 00:04:16,040
Speaker 1: Bloomberg's Tom Giles speaking there an a video spokesperson told

72
00:04:16,040 --> 00:04:18,880
Speaker 1: Bloomberg in a statement that the firm insists that partners

73
00:04:18,920 --> 00:04:21,200
Speaker 1: comply with all applicable laws.

74
00:04:21,480 --> 00:04:25,160
Speaker 2: Bloomberg understands that open Ai is in talks to raise

75
00:04:25,160 --> 00:04:27,839
Speaker 2: as much as forty billion dollars in a new funding

76
00:04:27,920 --> 00:04:30,640
Speaker 2: round that would be led by SoftBank. Assuming they raise

77
00:04:30,680 --> 00:04:32,920
Speaker 2: the full amount, the money would give the chat GPT

78
00:04:33,040 --> 00:04:36,320
Speaker 2: creator evaluation of three hundred billion dollars. The move comes

79
00:04:36,320 --> 00:04:40,039
Speaker 2: despite deep Seek's low cost AI, calling into question the

80
00:04:40,160 --> 00:04:42,159
Speaker 2: scale of investment in the sector.

81
00:04:42,800 --> 00:04:45,360
Speaker 1: Apple says sales will grow by a modest amount to

82
00:04:45,440 --> 00:04:47,839
Speaker 1: this quarter. However, the latest results in the tech giant

83
00:04:47,880 --> 00:04:50,840
Speaker 1: showed revenue from China plunged in the prior three months.

84
00:04:51,200 --> 00:04:54,440
Speaker 1: CEO Tim Cook says that over half of China declines

85
00:04:54,520 --> 00:04:56,240
Speaker 1: are due to changes in inventory.

86
00:04:56,839 --> 00:04:59,719
Speaker 6: If you look at our Greater China revenue for the

87
00:04:59,760 --> 00:05:03,560
Speaker 6: core or, we were down eleven percent year over year,

88
00:05:04,240 --> 00:05:09,680
Speaker 6: and over half of the decline that we experienced was

89
00:05:09,760 --> 00:05:11,960
Speaker 6: driven by a change in channel inventory.

90
00:05:12,320 --> 00:05:15,200
Speaker 1: Traders seems to agree with Tim Cook's justification for the

91
00:05:15,600 --> 00:05:19,360
Speaker 1: eighteen and a half billion dollar drop. Shares in Apple

92
00:05:19,440 --> 00:05:21,880
Speaker 1: rows by three percent in late trading.

93
00:05:22,440 --> 00:05:26,200
Speaker 2: The European Central Bank may stop calling its monetary policy

94
00:05:26,320 --> 00:05:29,800
Speaker 2: restrictive in March if it cuts again. Poomberg has learned

95
00:05:29,800 --> 00:05:32,640
Speaker 2: that policy makers are debating if rates will be high

96
00:05:32,760 --> 00:05:36,159
Speaker 2: enough to still say that they are constraining the economy.

97
00:05:36,279 --> 00:05:39,760
Speaker 2: The discussion suggests europe central bankers are weighing when to

98
00:05:39,800 --> 00:05:43,800
Speaker 2: stop lowering borrowing costs and whether to take pauses along

99
00:05:43,800 --> 00:05:44,160
Speaker 2: the way.

100
00:05:45,880 --> 00:05:48,440
Speaker 1: Women trust the Bank of England less than men. That's

101
00:05:48,440 --> 00:05:50,560
Speaker 1: according to a new study from the University of Oxford

102
00:05:50,560 --> 00:05:52,760
Speaker 1: that finds that women see the cost of living crisis

103
00:05:52,839 --> 00:05:56,240
Speaker 1: hitting them harder and blame the central bank. Bloomberok James

104
00:05:56,279 --> 00:05:57,320
Speaker 1: Wilcock has the story.

105
00:05:57,760 --> 00:06:01,040
Speaker 7: Public satisfaction with the Bank of Bing is record lows,

106
00:06:01,160 --> 00:06:04,640
Speaker 7: but there is also a gender divide why. The Oxford

107
00:06:04,640 --> 00:06:08,040
Speaker 7: study suggests when faced with rising prices, women are more

108
00:06:08,160 --> 00:06:10,880
Speaker 7: likely to tighten their budgets. Men, on the other hand,

109
00:06:11,000 --> 00:06:14,200
Speaker 7: simply ask for higher pay. It's becoming a reputation issue

110
00:06:14,240 --> 00:06:16,520
Speaker 7: for the bank, but the bank has its own trust

111
00:06:16,560 --> 00:06:20,320
Speaker 7: issues with its data regularly, so now looking into if

112
00:06:20,480 --> 00:06:23,919
Speaker 7: more of the UK's official statistics are faulty, with the

113
00:06:23,960 --> 00:06:26,960
Speaker 7: bank concerned about how well it can gage the health

114
00:06:27,000 --> 00:06:30,400
Speaker 7: of the economy in London. James Worcock, Bloomberg Radio.

115
00:06:31,320 --> 00:06:33,120
Speaker 2: And those are some of our top stories for you

116
00:06:33,200 --> 00:06:36,480
Speaker 2: this morning. In terms of the markets, Asian equities are lower.

117
00:06:36,680 --> 00:06:41,800
Speaker 2: Sk Heinech, Samsung Electronics and other tech names falling, particularly

118
00:06:41,839 --> 00:06:45,479
Speaker 2: in South Korea. Seems a delayed reaction after the selling

119
00:06:45,520 --> 00:06:48,039
Speaker 2: of AI stocks that we've seen. The Nasdaq is set

120
00:06:48,080 --> 00:06:50,840
Speaker 2: to drop for the first time this week in about

121
00:06:50,880 --> 00:06:52,719
Speaker 2: three weeks, and will keep you an eye on the

122
00:06:52,720 --> 00:06:55,760
Speaker 2: Looney and the Mexican Pacer, which have slumped after Donald

123
00:06:55,800 --> 00:06:57,839
Speaker 2: Trump said that he would follow through with those twenty

124
00:06:57,839 --> 00:07:00,880
Speaker 2: five percent tariffs on imports. Goal does hit a record

125
00:07:00,960 --> 00:07:03,760
Speaker 2: high now trading at two thousand, seven hundred and ninety

126
00:07:03,880 --> 00:07:08,080
Speaker 2: five dollars. And we had the rate decision from the ECB. Yes,

127
00:07:08,080 --> 00:07:10,640
Speaker 2: and they're just thinking about the bond markets this morning.

128
00:07:10,720 --> 00:07:12,960
Speaker 2: Four p. Fifty four is where we trade for US

129
00:07:13,280 --> 00:07:15,840
Speaker 2: benchmark ten year treasury yields up too and a half

130
00:07:15,880 --> 00:07:17,320
Speaker 2: basis points. Those are the markets.

131
00:07:17,720 --> 00:07:20,320
Speaker 1: In a moment, we'll bring you more on Donald Trump's

132
00:07:20,360 --> 00:07:23,720
Speaker 1: tariff plans, plus the latest on the investigation into that

133
00:07:23,800 --> 00:07:27,680
Speaker 1: crash in Washington, d C. But first to another story

134
00:07:28,040 --> 00:07:31,080
Speaker 1: that caught right this morning about bookshops and in particular

135
00:07:31,360 --> 00:07:35,200
Speaker 1: how the internet has helped, perhaps unusually, to revive a

136
00:07:35,280 --> 00:07:36,600
Speaker 1: storied brand in the US.

137
00:07:36,760 --> 00:07:39,760
Speaker 2: Yeah, this is Bonds and Noble. This is America's largest

138
00:07:39,760 --> 00:07:43,080
Speaker 2: brick and mortar bookshop. They had a really bad run,

139
00:07:43,360 --> 00:07:46,520
Speaker 2: seven years of declining sales, and they got new management

140
00:07:46,560 --> 00:07:50,840
Speaker 2: in twenty nineteen. They reorganized all of the shops. They

141
00:07:50,920 --> 00:07:56,680
Speaker 2: embraced book talk and also the equivalence on Instagram books

142
00:07:56,880 --> 00:07:58,480
Speaker 2: books not.

143
00:07:58,520 --> 00:08:00,640
Speaker 1: Quite book talk is just saying better to be as

144
00:08:00,680 --> 00:08:03,320
Speaker 1: book talk is a word that I only know because

145
00:08:03,320 --> 00:08:06,520
Speaker 1: of how it filters through into Instagram, because I'm not

146
00:08:06,560 --> 00:08:10,200
Speaker 1: on TikTok. But the it's a whole world I don't

147
00:08:10,200 --> 00:08:13,360
Speaker 1: really understand, to be completely honest, but it does seem

148
00:08:13,360 --> 00:08:16,360
Speaker 1: to magically popularize quite much books.

149
00:08:16,400 --> 00:08:18,160
Speaker 2: And now there's sort of a tie up because what

150
00:08:18,320 --> 00:08:21,120
Speaker 2: is recommended on BookTalk then ends up in the bookstores.

151
00:08:21,160 --> 00:08:24,000
Speaker 2: And that's the whole point. It's driving sales in the

152
00:08:24,040 --> 00:08:26,440
Speaker 2: physical world. And I just want to add in one

153
00:08:26,440 --> 00:08:28,760
Speaker 2: other thing, which is the British connection to this story,

154
00:08:28,960 --> 00:08:31,600
Speaker 2: because Barnes and Noble is run by a brit of course,

155
00:08:31,600 --> 00:08:34,000
Speaker 2: that's James Daunt if you know don bookshops, and he

156
00:08:34,040 --> 00:08:36,880
Speaker 2: also runs Waterstones in the UK, and they're owned by

157
00:08:36,880 --> 00:08:39,480
Speaker 2: the same company, Eliot Management. I was in the Dawn's

158
00:08:39,480 --> 00:08:42,040
Speaker 2: bookshop on Saturday. I could hardly get in the door.

159
00:08:42,200 --> 00:08:44,680
Speaker 1: You cannot, I can't leave dance and spent far too

160
00:08:44,760 --> 00:08:46,679
Speaker 1: much money to be honest. But anyway, let's go back

161
00:08:46,720 --> 00:08:49,240
Speaker 1: to our top story this morning, and the trade tariff's

162
00:08:49,240 --> 00:08:51,360
Speaker 1: Donald Trump saying that he's going to impose a twenty

163
00:08:51,400 --> 00:08:54,600
Speaker 1: five percent levy on imports from Mexico and Canada from

164
00:08:54,679 --> 00:08:57,800
Speaker 1: tomorrow it's thought to affect around nine hundred billion dollars

165
00:08:57,800 --> 00:09:00,559
Speaker 1: in goods from both countries. Our senior editor, Dear Quildbank

166
00:09:00,679 --> 00:09:03,080
Speaker 1: is with us now for more, Derek, what do we

167
00:09:03,120 --> 00:09:07,600
Speaker 1: know about what goods these tariffs would apply to? This

168
00:09:07,760 --> 00:09:11,200
Speaker 1: is the part of the conversation where I would love

169
00:09:11,240 --> 00:09:13,600
Speaker 1: to regale you with a whole bunch of details, but

170
00:09:13,720 --> 00:09:16,400
Speaker 1: I'm sorry to say, we just don't have them right now.

171
00:09:16,720 --> 00:09:21,920
Speaker 1: We're we're waiting, so is everybody, on on details of

172
00:09:21,960 --> 00:09:25,520
Speaker 1: exactly what might be subject to tariffs. We don't have

173
00:09:25,600 --> 00:09:27,600
Speaker 1: guide guidance from the White House on if this is

174
00:09:27,640 --> 00:09:30,280
Speaker 1: going to be literally everything, or if there is going

175
00:09:30,320 --> 00:09:32,559
Speaker 1: to be like a schedule of goods that says, all right,

176
00:09:32,600 --> 00:09:35,760
Speaker 1: these are some things, these are not. You know, one

177
00:09:35,840 --> 00:09:40,160
Speaker 1: great example of Canada. Canada exports a fair amount of

178
00:09:40,200 --> 00:09:41,680
Speaker 1: oil to the United States.

179
00:09:42,080 --> 00:09:43,680
Speaker 8: Uh, some of which is used in the US. Some

180
00:09:43,720 --> 00:09:46,400
Speaker 8: of it it runs all the way through down to

181
00:09:46,520 --> 00:09:51,240
Speaker 8: Louisiana and then might be exported elsewhere. Like, Uh, that's

182
00:09:51,280 --> 00:09:57,160
Speaker 8: that's uh, that's an open question, open question, right so

183
00:09:56,720 --> 00:09:59,679
Speaker 8: the so so that's uh, that's going to be a

184
00:10:00,160 --> 00:10:02,360
Speaker 8: question that we're sort of looking at for answers in

185
00:10:02,400 --> 00:10:08,040
Speaker 8: the day. Now, Trump does have some potential availabilities, potential

186
00:10:08,080 --> 00:10:11,000
Speaker 8: spaces on his schedule where he could talk to the

187
00:10:11,000 --> 00:10:14,200
Speaker 8: President and could give some ideas. We should also expect

188
00:10:14,280 --> 00:10:17,040
Speaker 8: maybe some paper to come out of the White House

189
00:10:17,080 --> 00:10:19,480
Speaker 8: if they're going forward with this that sort of says

190
00:10:19,559 --> 00:10:21,600
Speaker 8: this is where we're looking at coming. We don't have

191
00:10:21,679 --> 00:10:24,000
Speaker 8: that yet, but that's something that we would be looking.

192
00:10:23,800 --> 00:10:27,480
Speaker 2: For, Okay. It also did seem to surprise the markets

193
00:10:27,559 --> 00:10:30,800
Speaker 2: quite interestingly. They did not seem to be prepared in

194
00:10:30,840 --> 00:10:34,040
Speaker 2: the FX space that these tariffs would come in what

195
00:10:34,120 --> 00:10:36,880
Speaker 2: has been the reaction from Canada and Mexico.

196
00:10:37,600 --> 00:10:41,800
Speaker 8: You know, I think that's a really smart observation. It

197
00:10:41,880 --> 00:10:44,640
Speaker 8: did seem like there was some pricing of the idea

198
00:10:44,679 --> 00:10:47,920
Speaker 8: that Trump wouldn't actually go through with this. You know,

199
00:10:47,960 --> 00:10:55,119
Speaker 8: Trump has started his presidency without putting tariffs on Canada, Mexico, China,

200
00:10:55,880 --> 00:10:59,920
Speaker 8: universal tariffs, et cetera. He has not done so yet,

201
00:11:00,280 --> 00:11:02,720
Speaker 8: and there has been this strain that's run through the markets.

202
00:11:02,720 --> 00:11:05,360
Speaker 8: That's thought that he is, as one would say in

203
00:11:05,360 --> 00:11:09,439
Speaker 8: the American West, all had no cattle on the issue.

204
00:11:09,520 --> 00:11:13,360
Speaker 8: But it's you know, Trump has said this is going

205
00:11:13,440 --> 00:11:17,080
Speaker 8: to be something that that is a signature part of

206
00:11:17,360 --> 00:11:20,719
Speaker 8: not just his foreign policy, but his economic policy at all.

207
00:11:21,040 --> 00:11:24,360
Speaker 8: Right as well, Remember he's counting on revenue from these

208
00:11:24,400 --> 00:11:27,760
Speaker 8: tariffs to fund a lot of his domestic policy priorities.

209
00:11:28,960 --> 00:11:30,400
Speaker 1: Derek, first of all, thank you for bringing us that

210
00:11:30,440 --> 00:11:32,600
Speaker 1: expression to us, which I think we will all treasure.

211
00:11:33,040 --> 00:11:36,520
Speaker 1: But I did have one more question about what Canada

212
00:11:36,559 --> 00:11:40,440
Speaker 1: and Mexico have done since Donald Trump renewed this thrast.

213
00:11:40,559 --> 00:11:44,160
Speaker 1: They've made efforts to try and appease him. Do we

214
00:11:44,240 --> 00:11:46,720
Speaker 1: have any idea as to why he's pressing ahead.

215
00:11:47,720 --> 00:11:50,320
Speaker 8: Yeah, there have been efforts to appease There have also

216
00:11:50,440 --> 00:11:53,760
Speaker 8: been some efforts to prepare right. Canada has worked up

217
00:11:53,760 --> 00:11:56,880
Speaker 8: a list, for example, of things that could get contra

218
00:11:57,440 --> 00:12:02,600
Speaker 8: tariffs in there that we have seen suppliers and importers,

219
00:12:02,640 --> 00:12:07,520
Speaker 8: exporters try and front load some contracts. Companies are looking

220
00:12:07,559 --> 00:12:11,320
Speaker 8: to stockpile goods in the US ahead of potential levies.

221
00:12:11,360 --> 00:12:13,640
Speaker 8: This is actually a thread that we've seen going on

222
00:12:13,760 --> 00:12:17,880
Speaker 8: for months now. There are a fair number of companies

223
00:12:18,320 --> 00:12:22,520
Speaker 8: from China that have put facilities in Mexico near the

224
00:12:22,640 --> 00:12:26,960
Speaker 8: US border as a possible like transshipment option. Those plays

225
00:12:27,040 --> 00:12:30,320
Speaker 8: are are under some heavy scrutiny right now, how that

226
00:12:30,360 --> 00:12:33,679
Speaker 8: would how that would necessarily work. So there are some

227
00:12:33,720 --> 00:12:36,560
Speaker 8: folks who are trying to get round this. At the

228
00:12:36,600 --> 00:12:39,280
Speaker 8: same point, we're also seeing some foreign leaders, you know,

229
00:12:40,400 --> 00:12:44,840
Speaker 8: suggest that these countries need to be tougher. Christia Freeland

230
00:12:45,240 --> 00:12:48,360
Speaker 8: is a good example. She's she's in Canada. She's one

231
00:12:48,360 --> 00:12:50,760
Speaker 8: of the people who's looking to try and replace Justin

232
00:12:50,800 --> 00:12:54,160
Speaker 8: Trudeau's prime minister. She has suggested that not only do

233
00:12:54,280 --> 00:12:57,160
Speaker 8: countries individually need to have responses, but they need to

234
00:12:57,200 --> 00:12:59,319
Speaker 8: consider talking to each other and maybe having more of

235
00:12:59,360 --> 00:13:02,320
Speaker 8: a communal response. Are the ones that are being targeted

236
00:13:02,320 --> 00:13:03,280
Speaker 8: by Trump right now?

237
00:13:03,720 --> 00:13:03,960
Speaker 5: Yeah?

238
00:13:04,080 --> 00:13:07,760
Speaker 2: Absolutely, the Canadian Looney remember getting close to it's twenty

239
00:13:07,800 --> 00:13:10,480
Speaker 2: twenty low on the back of that threat. Thank you

240
00:13:10,480 --> 00:13:12,200
Speaker 2: so much for being with us, Derek. Great to have

241
00:13:12,280 --> 00:13:15,359
Speaker 2: you on the program. Our senior editor for US Economics

242
00:13:15,360 --> 00:13:16,839
Speaker 2: and Government, Derek Wallbank.

243
00:13:17,520 --> 00:13:19,880
Speaker 1: Now, it's the plane crash over Washington, DC, in which

244
00:13:19,960 --> 00:13:22,600
Speaker 1: sixty seven people are now known to have died. Focus

245
00:13:22,679 --> 00:13:26,560
Speaker 1: shifting to what caused the mid air collision. Bloomberg's Benedicts

246
00:13:26,559 --> 00:13:30,440
Speaker 1: Camelo leads our global aviation coverage. Joins US now for more.

247
00:13:31,000 --> 00:13:34,200
Speaker 1: Good Morning, What is the investigation now focusing on.

248
00:13:35,200 --> 00:13:39,200
Speaker 9: Good morning, so it's very much sort of a recovery mission.

249
00:13:39,200 --> 00:13:43,720
Speaker 9: At this point, they have apparently found the black boxes

250
00:13:43,840 --> 00:13:47,120
Speaker 9: of the regional jet. That's an important part of the investigation.

251
00:13:47,800 --> 00:13:51,240
Speaker 9: We heard from the NTSB yesterday that's the US body

252
00:13:51,600 --> 00:13:56,679
Speaker 9: that's in charge of the investigation principally, and they said

253
00:13:56,880 --> 00:13:59,240
Speaker 9: give us some time. This will take a while. This

254
00:13:59,280 --> 00:14:03,120
Speaker 9: is a complex investigation. We know something went horribly wrong

255
00:14:03,160 --> 00:14:06,040
Speaker 9: in the skies because these two aircraft collided, but we

256
00:14:06,120 --> 00:14:08,560
Speaker 9: can't say at this point what led to it exactly,

257
00:14:08,720 --> 00:14:11,800
Speaker 9: So at which point, which of these aircrafts might have

258
00:14:11,800 --> 00:14:15,000
Speaker 9: been out of position? What role the air traffic control

259
00:14:15,040 --> 00:14:17,679
Speaker 9: has played. Was it the helicopter that should have been

260
00:14:17,679 --> 00:14:21,080
Speaker 9: in a different place. We do know from the intercom

261
00:14:21,160 --> 00:14:24,720
Speaker 9: between the helicopter and air traffic control that there was

262
00:14:24,840 --> 00:14:28,440
Speaker 9: communication between these two sides and the helicopter was asked,

263
00:14:28,760 --> 00:14:33,320
Speaker 9: do you see the aircraft? So that part happened, but

264
00:14:33,360 --> 00:14:36,520
Speaker 9: it's not clear whether they were looking at the right aircraft,

265
00:14:36,600 --> 00:14:38,320
Speaker 9: whether they were still out of position. So all of

266
00:14:38,400 --> 00:14:42,160
Speaker 9: these things will need to be closely dissected, and as

267
00:14:42,560 --> 00:14:45,920
Speaker 9: the NTSB said, give us some time. This is nothing

268
00:14:46,480 --> 00:14:50,480
Speaker 9: we can sort of jump to conclusions with. And in

269
00:14:50,520 --> 00:14:53,040
Speaker 9: some ways that sort of runs counter to the narrative

270
00:14:53,120 --> 00:14:56,560
Speaker 9: that was unfolding yesterday in the political aspect or in

271
00:14:56,600 --> 00:14:59,840
Speaker 9: the political side of Washington. So that's some tension that's

272
00:15:00,000 --> 00:15:00,720
Speaker 9: already set up.

273
00:15:01,080 --> 00:15:03,080
Speaker 2: Yes, I wanted to ask you about that. This is

274
00:15:03,120 --> 00:15:06,800
Speaker 2: surely a test for Newtrump administration officials. Donald Trump has

275
00:15:06,840 --> 00:15:10,240
Speaker 2: already voiced his opinion on the cause of the crash,

276
00:15:10,400 --> 00:15:13,720
Speaker 2: blaming diversity initiatives at the FAA.

277
00:15:13,800 --> 00:15:17,120
Speaker 9: Why well, I mean, I have to say I've I've

278
00:15:17,160 --> 00:15:20,840
Speaker 9: covered quite a few crashes in my time here, and

279
00:15:21,040 --> 00:15:22,760
Speaker 9: you know, more than I'd want to. And one one

280
00:15:22,800 --> 00:15:27,640
Speaker 9: sort of basic feature has always been, you know, if

281
00:15:27,640 --> 00:15:31,320
Speaker 9: you're not directly involved in the investigation, step back and

282
00:15:31,360 --> 00:15:34,520
Speaker 9: there I say, shut up. And you know, it's always

283
00:15:34,520 --> 00:15:36,880
Speaker 9: been either the Europeans or the Asian or the NTSB

284
00:15:37,040 --> 00:15:41,400
Speaker 9: side that lead the investigation. Everybody else stays in the background.

285
00:15:41,520 --> 00:15:45,480
Speaker 9: That obviously has not happened here. Within hours we heard

286
00:15:45,760 --> 00:15:50,280
Speaker 9: from President Trump with a statement on its truth social networks,

287
00:15:50,360 --> 00:15:53,720
Speaker 9: you know, talking about the role of the helicopter of ATC,

288
00:15:53,880 --> 00:15:55,840
Speaker 9: and that sort of set the tone because it's very

289
00:15:55,840 --> 00:15:58,840
Speaker 9: difficult to walk back from that once once it's out there,

290
00:15:58,920 --> 00:16:02,120
Speaker 9: So everybody else after that was sort of in the

291
00:16:02,200 --> 00:16:05,680
Speaker 9: slightly uncomfortable position of either going along with what he

292
00:16:05,800 --> 00:16:09,920
Speaker 9: said or undercutting the president, and neither of these, you know,

293
00:16:10,000 --> 00:16:15,160
Speaker 9: are particularly appetising options if you are new to the administration.

294
00:16:15,320 --> 00:16:20,680
Speaker 9: Sean Duffy is the new Department of Transportation Secretary, Pete

295
00:16:20,680 --> 00:16:24,320
Speaker 9: Heseth is the new Secretary of Defense. So these are

296
00:16:24,400 --> 00:16:27,360
Speaker 9: unproven people and that's put them in a really difficult position.

297
00:16:28,240 --> 00:16:30,960
Speaker 1: This is Bloomberg Daybreak Europe, your morning brief on the

298
00:16:31,040 --> 00:16:34,080
Speaker 1: stories making news from London to Wall Streets and beyond.

299
00:16:34,360 --> 00:16:38,320
Speaker 2: Look for us on your podcast feed every morning, on Apple, Spotify,

300
00:16:38,440 --> 00:16:40,360
Speaker 2: and anywhere else you get your podcasts.

301
00:16:40,400 --> 00:16:43,440
Speaker 1: You can also listen live each morning on London DAB Radio,

302
00:16:43,480 --> 00:16:46,160
Speaker 1: the Bloomberg Business app, and Bloomberg dot Com.

303
00:16:46,240 --> 00:16:49,000
Speaker 2: Our flagship New York station is also available on your

304
00:16:49,000 --> 00:16:53,720
Speaker 2: Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty.

305
00:16:53,960 --> 00:16:55,280
Speaker 2: I'm Caroline Hepka and.

306
00:16:55,200 --> 00:16:57,880
Speaker 1: I'm Stephen Carroll. Join us again tomorrow morning for all

307
00:16:57,920 --> 00:17:00,440
Speaker 1: the news you need to start your day. Here on

308
00:17:00,480 --> 00:17:02,520
Speaker 1: Bloomberg Daybreak Europe.

309
00:17:03,800 --> 00:17:05,200
Speaker 6: M m

310
00:17:09,359 --> 00:17:09,840
Speaker 5: Mm hmm.