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

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Speaker 1: Beijing has responded to the US coercing other nations to

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Speaker 1: curb their trade with China through the use of tariffs.

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Speaker 1: The Ministry of Commerce says it firmly opposes any trade

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Speaker 1: deal that harms China's interest. Here is Bloomberg's midmn Loow

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Speaker 1: in Hong Kong.

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Speaker 2: This is clearly a warning from China that it's going

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Speaker 2: to watch these trade negotiations very closely. Anybody that undercuts

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Speaker 2: china interest is going to face retaliation from China, and

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Speaker 2: of course we are watching very closely. The first to

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Speaker 2: go is Japan heading into that second round of trade

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Speaker 2: negotiations with Trump. It comes up the presidency just finished

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Speaker 2: his Southeast Asian trip with a consistent message calling on

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Speaker 2: all of these countries to jointly oppose US hegemony.

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Speaker 1: That is Bloomberg's midmn Loow reporting. Now dozens of nations

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Speaker 1: are seeking either reductions or in some cases, exemptions from

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Speaker 1: President Trump's tariffs. In return, the US is reportedly asking

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Speaker 1: those countries to take steps at limiting China's manufacturing MICA,

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Speaker 1: ensuring that Beijing doesn't find ways around the tariffs. Now

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Speaker 1: in the week ahead, we'll have officials from both Japan

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Speaker 1: and South Korea meeting with their American counterparts for trade talks.

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Speaker 1: The Trump administration is reportedly so furious with Harvard University

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Speaker 1: that it's planning to pull an additional one billion dollars

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Speaker 1: of the school's funding for health research. It's been more

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Speaker 1: than a week since the Trump administration sent Harvard a

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Speaker 1: confidential letter as a starting point for negotiations on policy.

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Speaker 1: Officials at Harvard thought the contents so extreme they released

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Speaker 1: that letter to the public well before that point. The

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Speaker 1: Wall Street Journal says the Trump administration was planning to

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Speaker 1: treat Harvard more leniently than Columbia University, but now officials

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Speaker 1: want to apply even more pressure on Harvard. Defense Secretary

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Speaker 1: Pete Hegseth reportedly shared detailed information about forthcoming strikes in

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Speaker 1: Yemen back on March fifteenth in a private signal group

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Speaker 1: chat that included his wife, brother, and personal lawyer. The

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Speaker 1: New York Times report some of the people in that

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Speaker 1: chat said the information shared included the flight schedules of

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Speaker 1: the FA eighteen hornets targeting the Houthis in Yemen. These

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Speaker 1: were essentially the same attack plans that Hegseth shared on

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Speaker 1: a separate signal chat with US officials. A draft executive

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Speaker 1: order from the Trump administration is proposing a radical reduction

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Speaker 1: to and restructuring of the State Department. A copy of

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Speaker 1: the document seen by Bloomberg News shows the order would

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Speaker 1: eliminate dozens of positions and departments. This would include those

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Speaker 1: dealing with climate refugees, democracy, and Africa. It would also

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Speaker 1: include a sharp cut to diplomatic operations in Canada. The

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Speaker 1: head of the Chicago FED, Austin Goulesby, is warning against

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Speaker 1: efforts to curtail the Fed's independence. His comments today come

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Speaker 1: days after President Trump publicly expressed his displeasure with fedshare J. Powell.

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Speaker 1: Here is Goulesby speaking earlier to CBS faced the NX.

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Speaker 3: There's virtual unanimity among economists that monetary independence from political interference,

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Speaker 3: that the FED or any central bank be able to

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Speaker 3: do the job that it needs to do, is really important.

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Speaker 3: And they came to that not as a theory, but

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Speaker 3: just by looking around the world at places where they

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Speaker 3: don't have monetary independence. And the fact is the inflation

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Speaker 3: rate is higher, growth is slower, the job market is worse.

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Speaker 1: That is Austin Goolsby, head of the Chicago Fed, speaking

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Speaker 1: earlier to CBS Face the Nation. Also today, GOP senator

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Speaker 1: from Louisiana, John Kennedy, defended the notion of FED autonomy.

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Speaker 1: Here is Kennedy speaking earlier to NBC's Meet the Press.

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Speaker 4: I don't think the president, any president, has the right

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Speaker 4: to remove the Federal Reserve chairman. I think the Federal

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Speaker 4: Reserve ought to be independent. I think that j. Powell

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Speaker 4: and President Trump need to sit down and once again

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Speaker 4: have a hug and a cup of hot coco and

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Speaker 4: work it out.

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Speaker 1: John Kennedy, their Republican senator from Louisiana. Last week, by

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Speaker 1: the way, Trump blambasted Powell for not cutting interest rates faster,

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Speaker 1: and then later on social media, Trump posted that Powell's

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Speaker 1: termination could not come fast enough. US Interior Secretary Doug

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Speaker 1: Burgham says he is confident that the US and China

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Speaker 1: will reach a deal on tariffs. But despite his outlook,

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Speaker 1: Bergham did stress the importance of ramping up domestic extraction

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Speaker 1: of critical minerals. He spoke earlier to Fox New Sunday.

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Speaker 3: We've basically been a war on mining in this country

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Speaker 3: for anything, not just rare minerals, critical minerals, but base

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Speaker 3: minerals that we would have. And so under President Trump,

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Speaker 3: it's not just drill, baby drill, it's going to be map,

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Speaker 3: baby map, which is we've got these materials in our country,

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Speaker 3: but then also mine baby mine.

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Speaker 1: That is Interior Secretary Doug Burgham there. Last week you

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Speaker 1: may recall, President Trump launched a probe into the need

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Speaker 1: for tariffs on critical minerals, citing national security and resilience concerns,

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Speaker 1: led by the Commerce Secretary of this probe will evaluate

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Speaker 1: the impact active imports on these materials on America's security,

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Speaker 1: and it may result in tariffs if deemed necessary. And

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Speaker 1: 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