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Speaker 1: News when you want it. With Bloomberg News Now, I'm

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Speaker 1: Doug Krisner. We begin with Elon Musk is looking to

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Speaker 1: slash one trillion dollars in government spending by the end

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Speaker 1: of May. Speaking Thursday to Fox News, Musk said his

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Speaker 1: Department of Government Efficiency can find that level of cost

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Speaker 1: savings within one hundred and thirty days of the start

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Speaker 1: of Donald Trump's second term.

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Speaker 2: Our goal is to reduce the deficit by a trillion dollars,

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Speaker 2: so from a nominal depicit of two trillion, to track

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Speaker 2: cut depthsit in half to one trillion, or looked at

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Speaker 2: it in tolet federal spending, to drop the federal spending

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Speaker 2: from seven trillion to six trillion.

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Speaker 1: That is Elon Musk there. His goal is an ambitious one.

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Speaker 1: It would require slashing more than half of the one

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Speaker 1: point eight trillion dollars the US spent on non defense

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Speaker 1: discretionary programs in twenty twenty four. By the way, DOGE

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Speaker 1: has faced a series of legal setbacks as judges have

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Speaker 1: halted some of its cuts. Hugh Crane Bloomberg News has

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Speaker 1: learned that the US is pushing for a partnership deal

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Speaker 1: that would give it control over major Ukrainian infrastructure and

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Speaker 1: mineral investments. Now, this deal would grant the US write

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Speaker 1: a first offer on investments, as well as control over

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Speaker 1: a reconstruction investment fund and first claim on profits from

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Speaker 1: that fund. Joe Doe covers metals and mining for Bloomberg News.

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Speaker 3: I know that the security question was a big deal

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Speaker 3: between Ukraine and the United States, but the investors themselves, right,

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Speaker 3: who would presumably be the ones being putting money into

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Speaker 3: whatever this critical minerals deal would be also need assurances

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Speaker 3: that in three years, you know, there won't suddenly be

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Speaker 3: war on the turf of the places where they're trying

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Speaker 3: to build out minds and process different minerals.

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Speaker 1: That is Bloomberg's Joe Doe. Now, if accepted, this agreement

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Speaker 1: would also require Ukraine to pay for all US military

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Speaker 1: and economic support provided since the beginning of war with Russia.

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Speaker 1: Boston FED President Susan Collins says it looks inevitable that

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Speaker 1: tariff's will boost inflation, at least in the near term.

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Speaker 1: Speaking had an event earlier in Boston, she added, it's

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Speaker 1: likely appropriate to keep interest rates steady for longer. Here's Collins,

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Speaker 1: and so.

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Speaker 4: As I pull all that together, I strongly believed the

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Speaker 4: meeting that we had last week that holding our rate

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Speaker 4: steady was an appropriate policy stance, and I would, looking

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Speaker 4: forward expect that holding it steady for a longer time

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Speaker 4: is likely to be appropriate.

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Speaker 1: That is Susan Collins, head of the Boston Fedbank. You

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Speaker 1: may recall last week when Fed officials left interest rates unchanged,

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Speaker 1: citing the need for greater clarity on the economic impact

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Speaker 1: of President Trump's policy changes on both trade and immigration.

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Speaker 1: Prime Minister Mark Carney said his government will respond to

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Speaker 1: President Trump's trade war and tariffs on the auto sector.

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Speaker 1: Even so, Carney said he won't outline new retaliatory moves

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Speaker 1: until April. Second. Here's Carney speaking earlier to reporters in Ottawa.

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Speaker 5: With time, it will become so apparent that these actions

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Speaker 5: will end up hurting American workers and American consumers. We

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Speaker 5: will fight the US tariffs with retaliatory trade actions of

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Speaker 5: our own that will have maximum impact in the United

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Speaker 5: States and minimum impacts here in Canada.

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Speaker 1: Canadian Prime Minister Mark Karney. There he also announced plans

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Speaker 1: to build an all in Canada network for auto parts.

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Speaker 1: It will work closely with the auto industry to make

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Speaker 1: more parts in Canada and limit those crossing the Canadian

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Speaker 1: US border during production. Now, Canada has already imposed retaliatory

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Speaker 1: tariffs on nearly forty two billion dollars in US goods,

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Speaker 1: and the government is threatening tariffs on a further sixty

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Speaker 1: six billion in American items, including autos, as soon as

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Speaker 1: next month. President Trump assigned an executive order directing government

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Speaker 1: agencies to cease collective bargaining with federal unions now. The

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Speaker 1: order cited the need to bolster national security. This will

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Speaker 1: affect agencies including the Pentagon, the Department of Homeland Security,

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Speaker 1: the Environmental Protection Agency, as well as Departments of State

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Speaker 1: and Treasury, and the move is likely to be challenged

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Speaker 1: in court. It's opening day for Major League Baseball, and

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Speaker 1: we've got your final scores. In the Bronx, the Yankees

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Speaker 1: outlasted the Milwaukee Brewers four to two. The Red Sox

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Speaker 1: beat the Rangers in Texas five to two, The Mets

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Speaker 1: fell to the Astros in Houston three to one, and

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Speaker 1: the Dodgers defeated the Detroit Tigers in LA by a

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Speaker 1: score of five to four. And that is news when

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Speaker 1: you want it with Bloomberg News. Now, I'm Doug Risner,

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Speaker 1: and this is Bloomberg.