WEBVTT - Trump Tariffs Deemed Illegal, Nvidia Eases China Concerns, More 

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<v Speaker 1>News when you wanted with Bloomberg News. Now I'm Doug Chrisner.

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<v Speaker 1>The US Trade Court has dealt a major blow to

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<v Speaker 1>the Trump administration. It found the president's global tariffs are illegal,

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<v Speaker 1>and now these levees have been blocked. A panel of

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<v Speaker 1>three judges at the US Court of International Trade in

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<v Speaker 1>Manhattan sided with Democratic led states and a group of

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<v Speaker 1>small businesses. They successfully argue that Trump had wrongfully invoked

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<v Speaker 1>an emergency law to justify these tariffs. Here is Bloomberg's

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<v Speaker 1>Eric Larson.

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<v Speaker 2>There were three orders that the panel found were illegal,

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<v Speaker 2>one with his so called Liberation Day global tariffs, than

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<v Speaker 2>another executive order issuing more tariffs against countries that had

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<v Speaker 2>retaliated against the US. And then yet another executive order

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<v Speaker 2>issuing more tariffs against Canada, Mexico, and China over the

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<v Speaker 2>sentinel and drug trafficking crisis. And the court basically held

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<v Speaker 2>that when Congress created this law of the international Emergence

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<v Speaker 2>the economic powers at that it never intended to give

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<v Speaker 2>this kind of authority to the president.

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<v Speaker 1>That is Bloomberg's Eric Larson. Now the Trump administration has

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<v Speaker 1>filed a notice of appeal. This case may ultimately be

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<v Speaker 1>decided by the US Supreme Court, and it could impact

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<v Speaker 1>trillions of dollars in global trade. We go next to

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<v Speaker 1>the most important earnings report of the week after the Bell,

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<v Speaker 1>and Vidia gave a solid forecast for revenue in the

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<v Speaker 1>current quarter, even with a slowdown in China. In Vidia

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<v Speaker 1>is now expecting sales of about forty five billion dollars,

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<v Speaker 1>and that is after subtracting eight billion dollars in lost

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<v Speaker 1>sales in China because of export controls. Here is Nvidia

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<v Speaker 1>CEO Jensen Wong speaking to Bloomberg on the export control issue.

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<v Speaker 3>The limitations are quite quite stringent, quite limited, if you will.

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<v Speaker 3>H twenty is as far down as we could take

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<v Speaker 3>a hopper. We don't know how to make it even

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<v Speaker 3>less and so that's really the but but there aren't

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<v Speaker 3>there aren't, you know. The limitations are quite stringent, so

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<v Speaker 3>we have we have to really think through it. Whatever

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<v Speaker 3>we make ultimately has to add value to the market.

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<v Speaker 1>That was Nvidia CEO Jensen Wong speaking to Bloomberg earlier.

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<v Speaker 1>By the way, you can catch the full conversation with

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<v Speaker 1>Jensen Wong on the Bloomberg podcast channel on YouTube. Incidentally,

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<v Speaker 1>shares in Nvidia. We're up by more than four percent

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<v Speaker 1>in late US trading. Elon Musk says his time as

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<v Speaker 1>a formal advisor to President Trump is coming to an

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<v Speaker 1>end and it's raising questions about the future of the

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<v Speaker 1>Department of Government Efficiency. The effort Musk spearheaded. Musk's campaign

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<v Speaker 1>to slash the size of the US government sent shockwaves

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<v Speaker 1>through Washington. However, DOSEE fell short of its own high

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<v Speaker 1>expectations for cost savings, and Musk faced criticism and backlash

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<v Speaker 1>over his political work, and it sparked concerns among investors

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<v Speaker 1>over the fallout for his companies, including Tesla. The US

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<v Speaker 1>will be again revoking visas of Chinese students, including those

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<v Speaker 1>with connections to the Chinese government or studying in critical fields.

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<v Speaker 1>The announcement was made this evening by Secretary of State

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<v Speaker 1>Marco Rubio in a post on x President Trump doesn't

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<v Speaker 1>like the nickname Taco trade Taco as in Trump always

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<v Speaker 1>chickens out. It's a phrase coined by a columnist at

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<v Speaker 1>the Financial Times, and it's been adopted by traders trying

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<v Speaker 1>to navigate Trump's trade policy and betting on him backing down.

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<v Speaker 1>Trump has said his repeated retreats are part of a

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<v Speaker 1>strategy to exert concessions. Here is Bloomberg's Catherine Lucy.

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<v Speaker 4>Well, certainly Trump wants to play to work. I think

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<v Speaker 4>he's really bristling at the idea that he I mean,

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<v Speaker 4>I don't think calling Trump a chicken. He does not

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<v Speaker 4>appreciate that. You saw. He took great umbradge of that idea.

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<v Speaker 4>And he likes a big threat. He likes to have

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<v Speaker 4>a big stick, and so I think he's going to

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<v Speaker 4>continue to probably escalate with some of these Traine negotiations.

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<v Speaker 4>The question is does the suggestion of being a chicken

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<v Speaker 4>amp them up a little bit more?

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<v Speaker 1>That is Bloomberg's Catherine Lucy speaking there. The Trump administration

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<v Speaker 1>is restricting the sale of chip design software to China.

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<v Speaker 1>We are told the Commerce Department has sent letters to

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<v Speaker 1>at least some of the leading providers of electronic design

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<v Speaker 1>automation telling them to halt shipments to Chinese customers. Now

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<v Speaker 1>it's unclear how broad these restrictions will be, although we

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<v Speaker 1>are told it could mean an effective ban on dooing

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<v Speaker 1>business in China. Salesforce has raised its annual forecast for revenue.

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<v Speaker 1>It's assigned the company's latest AI product is on a

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<v Speaker 1>path to contribute significant sales. We have more from Bloomberg's

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<v Speaker 1>Charlie Pellett.

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<v Speaker 5>For the year ending in January twenty twenty six, Salesforce's

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<v Speaker 5>revenue of forty one to forty one point three billion,

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<v Speaker 5>up from an earlier forecast of forty point five to

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<v Speaker 5>forty point nine billion. Leading technology platforms such as Salesforce,

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<v Speaker 5>Microsoft off dan Service Now are competing to offer AI

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<v Speaker 5>agents software that can complete tasks such as customer service

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<v Speaker 5>without needing direction from a person in New York. Charlie

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<v Speaker 5>Pellette Bloomberg.

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<v Speaker 1>Radio and that is news when you want it with

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<v Speaker 1>Bloomberg News Now. I'm Doug Chrisner, and this is Bloomberg