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

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Speaker 1: Mark Carney has won the race to become Canada's Liberal

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Speaker 1: Party leader and the country's next Prime Minister. Carney is

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Speaker 1: a former Governor of the Bank of Canada. He is

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Speaker 1: set to be sworn in as PM within days. He

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Speaker 1: is also a former Governor of the Bank of England,

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Speaker 1: the first non citizen to run the BOE, Carney will

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Speaker 1: be replacing PM Justin Trudeau, and he'll be taking over

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Speaker 1: at a time when many fear will be in a

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Speaker 1: protracted global trade war. Here is Carney speaking after the vote.

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Speaker 2: The Canadian government has rightly retaliated and is rightly retaliating

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Speaker 2: with our own tariffs that will have maximum impact in

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Speaker 2: the United States and minimum impact here in Canada. My

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Speaker 2: government will keep our tariffs on until the Americans show

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Speaker 2: us respect.

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Speaker 1: That is Mark Carney.

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Speaker 3: There.

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Speaker 1: Meantime, in the state's Commerce Secretary, Howard Lutnix, is expecting

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Speaker 1: twenty five percent tariffs for steel and aluminium imports to

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Speaker 1: take effect Wednesday. Now. Those tariffs announced earlier by President

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Speaker 1: Trump applied to imports from Canada and Mexico. However, Lutinix

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Speaker 1: says the tariffs could be lifted if the flow of

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Speaker 1: undocumented migrants and illegal drugs into the US stops. Lutnix

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Speaker 1: spoke earlier to NBC's Meet the Press.

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Speaker 4: The changes to USMCA and beyond they start on April second.

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Speaker 4: So on April second, we are going to revisit again

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Speaker 4: the fentanyl issues, and we are going to revisit again

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Speaker 4: the trade, the general trade issues of reciprocality. Remember Canada

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Speaker 4: pass is supposed to have a free trade agreement with US. Yeah,

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Speaker 4: two hundred and fifty percent of dairy products. It's outrageous,

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Speaker 4: and you know the President's going to respond to it.

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Speaker 1: That is Commerce Secretary Howard Lutnik. There we go to

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Speaker 1: Europe next to where EC President Ursula Vonderline says there

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Speaker 1: is no reason to de risk Europe's relationship with the US.

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Speaker 1: Now the EU finds itself reeling from major policy pivots

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Speaker 1: from the Trump administration. Vonderline spoke on Sunday in Brussels.

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Speaker 5: They have been for more than eighty years, our closest

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Speaker 5: ally and in the face of adversity, the US and

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Speaker 5: Europe have always been stronger together. And yes there are differences,

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Speaker 5: but we might have different views on some topics, but

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Speaker 5: if you look at the common interest that we have,

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Speaker 5: they always outweigh our difference.

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Speaker 1: Ursula Vonderline, speaking to reporters earlier in Brussels, she went

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Speaker 1: on to say Washington's decisions to suspend AID and INTEL

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Speaker 1: to Ukraine was a very strong wake up call for

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Speaker 1: Europe to boost its defense capabilities. Now, EU leaders are

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Speaker 1: pushing ahead with a security proposal that could mobilize eight

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Speaker 1: hundred billion euros worth of additional spending. Meantime, the US

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Speaker 1: and Ukraine are planning to meet in Saudi Arabia next

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Speaker 1: week for direct talks. This has the two sides aimed

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Speaker 1: to reach a framework for a peace agreement and an

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Speaker 1: initial cease fire. Now, President Trump says he is expecting

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Speaker 1: to eventually reach a natural resources deal with you Krainian

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Speaker 1: President Volodimir Zelenski. Trump spoke earlier on Fox News Sunday

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Speaker 1: Morning Futures.

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Speaker 4: It was like taking candy from a baby.

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Speaker 5: What he did.

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Speaker 6: He's a smart guy, and he's a tough guy, and

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Speaker 6: he took money out of this country under Biden like candy.

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Speaker 5: From a baby. It was so easy.

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Speaker 6: With that same attitude and I just don't think he's grateful.

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Speaker 1: President Trump there, speaking on Fox News Sunday Morning Futures Now.

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Speaker 1: The White House says the proposed deal on critical minerals

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Speaker 1: represents a US economic commitment to Ukraine security. The Trump

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Speaker 1: administration says it's canceling four hundred million dollars in federal

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Speaker 1: grants and contracts to Columbia University. More from Bloomberg's Charlie Pellett.

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Speaker 3: The administration cites civil rights complaints against the Ivy League

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Speaker 3: school my Jewish Students. A joint task force of federal

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Speaker 3: agencies says the move represents the first round of action

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Speaker 3: against schools for their alleged failure to address anti Semitism

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Speaker 3: on campus, and the additional measures may follow. Columbia has

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Speaker 3: more than five billion dollars in federal grant commitments. Columbia

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Speaker 3: says it is reviewing the announcement and is pledging to

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Speaker 3: work with the government to restore the funding. In New

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Speaker 3: York Charlie Paddot's Bloomberg Radio.

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Speaker 1: Meantime, the IRS is reportedly drafting plans to cut as

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Speaker 1: much as half of its ninety thousand person workforce. More

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Speaker 1: from Bloomberg's Amy Morris.

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Speaker 6: Sources tell the Associated Press the plans include a mix

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Speaker 6: of layoffs, attrition, and incentivized buyouts. Former IRS Commissioner John

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Speaker 6: Coskin and says cutting that many workers would render the

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Speaker 6: IRS dysfunctional. More than six thousand have already been fired

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Speaker 6: back in February. This is the agency that collects the

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Speaker 6: money and finds the tax fraud and abuse. And the

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Speaker 6: White House says doze workers still want access to IRS

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Speaker 6: taxpayer data. It's all part of the Trump administration's efforts

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Speaker 6: to shrink the size of the federal workforce. In Washington,

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Speaker 6: Amy Moore as Bloomberg Radio Engulf.

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Speaker 1: The Arnold Palmer Invitational in Orlando, Florida has wrapped up.

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Speaker 1: Georgia native Russell Henley has won with a score of

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Speaker 1: eleven under par. Colin Morikawa and Canada's Corey Connors placed

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Speaker 1: second and third with ten under and nine under, respectively.

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Speaker 1: And that is news when you want it with Bloomberg News. Now,

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Speaker 1: I'm Doug Chrisner, and this is Bloomberg