WEBVTT - Netanyahu Pushes Back on Biden; US China Tariffs

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm John Tucker. Here

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<v Speaker 2>are these stories we're following today.

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<v Speaker 3>John, we begin with the latest on the Israel Hamas war.

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<v Speaker 3>Israeli Prime Minister Benjamin Netanyah, who says his country will

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<v Speaker 3>fight even without US help. He says it must continue

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<v Speaker 3>its offensive against Hamas in the southern Gaza city of Rafa. Ntayah,

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<v Speaker 3>who discussed a potential invasion in an interview on Doctor

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<v Speaker 3>Phil Primetime on Merritt Street Media.

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<v Speaker 4>In the Holocaust, we stood alone, but we were defenseless,

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<v Speaker 4>and today, if Israel has to stand alone, we'll stand alone.

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<v Speaker 3>Benjamin Netanyahu's comments follow President Biden's warning that he will

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<v Speaker 3>pause additional shipments of offensive weapons to Israel if it

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<v Speaker 3>launches an invasion. Netanyah, who says Israel will do its

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<v Speaker 3>utmost to make sure civilians leave Rafa, where more than

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<v Speaker 3>a million people are sheltering, before any attack.

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<v Speaker 2>This morning, Nathan, we're learning the protesters at Harvard are

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<v Speaker 2>vowing to continue to encampment at Harvard Yard. Talks with

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<v Speaker 2>the school administration failed. The protesters demanding Harvard University disclosed

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<v Speaker 2>and divests from companies linked to Israel, or they'll stay

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<v Speaker 2>in their tents and continue and encampment in Harvard Yard.

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<v Speaker 2>That's according to an instagram pulls from the group Harvard

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<v Speaker 2>Out of Occupying Palestine. They posted that the interim president

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<v Speaker 2>Alan Garber rejected that proposal and exchange for taking down

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<v Speaker 2>their encampment. Garver this week Warm protesters they needed to

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<v Speaker 2>end their encampment or face consequences, including suspension.

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<v Speaker 3>Was Israel continues to consider a Rafa invasion. John Whitehouse

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<v Speaker 3>National Security spokesman John Kirby says the Biden administration shares

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<v Speaker 3>Israel's goal of eradicating Hamas, but he says quote smashing

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<v Speaker 3>into Rafa would not advance Israel's aim. Kirby reiterated the

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<v Speaker 3>US as pausing but has not yet canceled a shipment

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<v Speaker 3>of about thirty five hundred bombs. Carmeil Arbitt with the

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<v Speaker 3>Atlantic Council tells Bloomberg, Israel thinks the administrations pauses having

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<v Speaker 3>serious diplomatic ramifications.

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<v Speaker 5>Israel and its supporters have been very quick to point

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<v Speaker 5>out that not only is this emboldening Hamas in the

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<v Speaker 5>context of negotiations where Israel has tried to use RAFA

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<v Speaker 5>as a leveraging tool to push Hamas closer to israel

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<v Speaker 5>Ces fire position. But it also sends a message to

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<v Speaker 5>Hezbola and to Iran that there is a wedge between

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<v Speaker 5>the United States and Israel.

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<v Speaker 3>Karmiel Arbid of the Atlantic Council adds, this is the

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<v Speaker 3>highest friction point between the two countries since President Biden

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<v Speaker 3>took office. You can hear more of her thoughts on

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<v Speaker 3>the Bloomberg Balance of Power podcast. You can find that

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<v Speaker 3>on Apple, Spotify or manywhere else you get your podcasts.

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<v Speaker 2>And meanwhile at Washington, Bloomberg News has learned President Biden

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<v Speaker 2>is going to unveil tariffs against China as soon as

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<v Speaker 2>next Tuesday, marketing one of the administration's biggest moves against

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<v Speaker 2>Chinese trade. At Bloomberg, Stephen angel Is in Hong Kong.

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<v Speaker 2>He says the tariffs will target three key industries.

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<v Speaker 6>These new tariffs would be very targeted at the three

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<v Speaker 6>key green industries that She Jinping has essentially earmarked as

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<v Speaker 6>priorities for investment, the new three as he called it

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<v Speaker 6>at the National People's Congress in March, and that is

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<v Speaker 6>electric vehicles, batteries.

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<v Speaker 2>And solar Bloomber Steven Angels says Biden's plans are a

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<v Speaker 2>contrast to Donald Trump's pledge to levey his sixty percent

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<v Speaker 2>tax on all Chinese imports if he wins November's election.

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<v Speaker 3>As for former President Trump, john his hush money trial

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<v Speaker 3>continues in Manhattan, and Stormy Daniels has wrapped up her

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<v Speaker 3>testimony recounting the affairs she says she had with the

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<v Speaker 3>former president. The adult film actress was grilled by one

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<v Speaker 3>of Trump's lawyers who aimed to portray her as an

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<v Speaker 3>extortionist and a liar. Brown University professor Wendy Schiller says

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<v Speaker 3>it's not clear how her testimony could shift the jury,

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<v Speaker 3>but she thinks the trial will affect the twenty twenty

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<v Speaker 3>four election.

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<v Speaker 7>Trump has been brilliant in getting both fundraising from his

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<v Speaker 7>donors but also the RNC to pay a lot of

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<v Speaker 7>his bills, and that means they can't fund things like

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<v Speaker 7>organize and get out the vote, help their county chairs

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<v Speaker 7>and help Senate candidates in swing states, and those two

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<v Speaker 7>kinds of campaigns are going to be crucial to either

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<v Speaker 7>side's victory in November.

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<v Speaker 3>Wendy Scheller, Brown University says Trump continues to critique the

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<v Speaker 3>charges against him. He's calling the judge in the hush

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<v Speaker 3>money trial a disgrace after he refused to throw out

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<v Speaker 3>the case for a second time.

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<v Speaker 2>Attorning to Markets Now, stocks did rally on Earning's optimism.

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<v Speaker 2>We also had to inflation data applications for US unemployment

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<v Speaker 2>benefits coming in higher than expended yesterday. This comes ahead

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<v Speaker 2>of next week's key CPI reading. Sarah House, senior US

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<v Speaker 2>economists with Wells Fargo, says a hotter pread likely to

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<v Speaker 2>keep rates higher for longer.

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<v Speaker 1>Looking very hard at court at the core, just given

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<v Speaker 1>that you have had three months in a row of

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<v Speaker 1>upside surprises, and we really need to see the core

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<v Speaker 1>begin to downshift if you are going to keep even

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<v Speaker 1>the potential of even a September cut.

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<v Speaker 2>Sarah House with Wells Fargo telling Bloomberg she can't completely

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<v Speaker 2>rule out a pial rate hike this year, but believes

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<v Speaker 2>jpwell set the bar very high for any hikes in

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<v Speaker 2>his latest pressure.

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<v Speaker 3>Well In Europe, John the UK has officially exited recession

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<v Speaker 3>after its strongest quarter of growth in nearly three years.

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<v Speaker 3>GDP expanded by six tenths of one percent in the

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<v Speaker 3>first quarter, beating all estimates. Elizabeth Martin's senior economist at HSBC,

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<v Speaker 3>says it's worth keeping the figure in perspective.

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<v Speaker 8>My slight worry about it is that some of this

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<v Speaker 8>recovery was based on expectations towards the end of last year.

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<v Speaker 8>The interest rates were kind of come down quite sharply,

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<v Speaker 8>and the market has reprised away from that, and the risks,

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<v Speaker 8>I guess have kind of grown, So it becomes a

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<v Speaker 8>bit circular. The stronger the economy, the stronger employment and

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<v Speaker 8>wages and inflation, and the less able the Bank of

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<v Speaker 8>England is to deliver some of those.

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<v Speaker 3>Cuts, and HSBC's Elizabeth martinads next year's GDP forecast for

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<v Speaker 3>the UK is still set to be the worst in

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<v Speaker 3>the G seven.

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<v Speaker 2>And in tech, Apple's set to deliver some of its

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<v Speaker 2>upcoming artificial intelligence features this year via data centers equipped

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<v Speaker 2>with its own AI capabilities. This part of his sweeping

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<v Speaker 2>effort to infuse its devices with AI capabilities, but also

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<v Speaker 2>mark Sample's much anticipated push into generative artificial intelligence, the

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<v Speaker 2>technology behind chat, GPT and other popular tools. The companies

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<v Speaker 2>playing ketchup with big tech rivals in the area, but

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<v Speaker 2>he is pois to lay out an ambitious AI strategy

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<v Speaker 2>at its worldwide Developers conference that is sent for June tenth.

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<v Speaker 3>As for staffing strategies in corporate America, John Pershing Square

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<v Speaker 3>founder Bill Ackman was reportedly criticized for his attacks on diversity,

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<v Speaker 3>equity and inclusion during a closed door panel discussion at

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<v Speaker 3>the Milken Conference in Los Angeles. Ackman had previously labeled

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<v Speaker 3>DEI as inherently racist and illegal. About forty people, including

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<v Speaker 3>some of Wall Street's most senior executives of color, confronted

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<v Speaker 3>him about these views. In a statement afterward, Acman said

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<v Speaker 3>he's written thousands of words about his quote nuanced views

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<v Speaker 3>on this important topic. He asked people to read them

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<v Speaker 3>to fully understand his perspective.

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<v Speaker 9>Yeah.

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<v Speaker 2>That brings us to five eight of Wall Street Time

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<v Speaker 2>down for a look at some of the other stories

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<v Speaker 2>making news in New York and around the world over

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<v Speaker 2>that which joined by Bloomberg's Michael Barr Michael, good morning.

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<v Speaker 4>Good morning John. The man who attacked three New York

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<v Speaker 4>City police officers with a machete on New Year's Eve

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<v Speaker 4>in twenty twenty two, was sentenced yesterday. Prosecutors say Trevor

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<v Speaker 4>Bickford was sentenced to twenty seven years in prison for

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<v Speaker 4>ambushing the NYPD officers in the name of jihad and

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<v Speaker 4>Times Square. The officers who were attacked in the head

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<v Speaker 4>were seriously injured. Bickford pleaded guilty to attempted murder and

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<v Speaker 4>assault on January eleventh. For the attack. Authorities say he

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<v Speaker 4>traveled from his home in Maine to New York City to,

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<v Speaker 4>in his words, wage jihad and kill as many targets

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<v Speaker 4>as possible. Severe weather he hit for a fourth straight

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<v Speaker 4>overnight in much of the South. Storms ravage parts of

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<v Speaker 4>Middle Tennessee. A woman was killed and over one hundred

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<v Speaker 4>homes damaged in Moray County, south of Nashville. Governor Bill

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<v Speaker 4>lead tour the aftermath of an EF three tornado that

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<v Speaker 4>tour through Columbia. He says, homes, we're devastated.

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<v Speaker 3>It's heartbreaking.

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<v Speaker 10>He realized that you don't know what it feels like

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<v Speaker 10>to be that family, but you know that it must

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<v Speaker 10>be awful.

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<v Speaker 4>Since Monday, there have been nearly one hundred reported or

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<v Speaker 4>confirmed tornadoes across eighteen states. The NYPD says one woman

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<v Speaker 4>is dead and another is in critical condition after they

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<v Speaker 4>were struck by a vehicle in Bushwick, Brooklyn. It happened

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<v Speaker 4>after five pm at the intersection of Eldert Street and

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<v Speaker 4>Knickerbocker Avenue. The two victims were said to be a

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<v Speaker 4>seventy one year old mother who died and her forty

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<v Speaker 4>four year old daughter. Police say the vehicle, a blue Mazda,

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<v Speaker 4>sped through the intersection with police behind it when the

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<v Speaker 4>driver crashed into a van and the victims. The driver

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<v Speaker 4>the vehicle with Massachusetts plates took off on foot and

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<v Speaker 4>it's still on the loose. The Biden administration wants hospitals

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<v Speaker 4>to meet minimum cyber security standards after a single hack

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<v Speaker 4>exposed the data of one hundred million Americans, and Newburger,

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<v Speaker 4>Deputy National Security Advisor for Cyber and Emerging Technology, we.

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<v Speaker 3>Launched a platform where countries can share indicators, a compromise,

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<v Speaker 3>can actually collaborate to say, here's what we're seeing in

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<v Speaker 3>a hospital.

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<v Speaker 9>Has anybody else seen this?

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<v Speaker 3>And the goal in all.

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<v Speaker 2>Of this is to make it riskier, costlier, and harder

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<v Speaker 2>for attackers.

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<v Speaker 4>Newburger spoke at the Bloomberg Tech Summit in San Francisco yesterday.

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<v Speaker 4>The announcement follows Ascension as the latest healthcare system to

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<v Speaker 4>have a cyber security problem. Global news twenty four hours

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<v Speaker 4>a day and whenever you want it with the Bloomberg News. Now,

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<v Speaker 4>I'm Michael Barr, and this is Bloomberg.

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<v Speaker 2>John, Michael, thank you, and that brings us to five

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<v Speaker 2>ten of time down for the Bloomberg Sports Update.

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<v Speaker 9>Man for that.

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<v Speaker 2>Good morning, John Stashower.

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<v Speaker 9>Good morning, John Tucker.

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<v Speaker 11>To win the Stanley Cup, you need to win sixteen

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<v Speaker 11>playoff games. The Rangers are almost halfway there and they've

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<v Speaker 11>yet to lose, now seven to zero, with the last

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<v Speaker 11>two wins both coming in overtime. Game three at Carolina,

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<v Speaker 11>the Hurricanes led, then the Rangers led, Kanes scored late

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<v Speaker 11>in regulation to tie. It was decided early in ot

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<v Speaker 11>Let's sidle up for a year, sends it in Brown.

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<v Speaker 11>The boards had gone Miss Tyrol long played the time.

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<v Speaker 9>Yes, Yes.

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<v Speaker 11>The Rangers with it in over time and lead the

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<v Speaker 11>series three games today w EPN.

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<v Speaker 9>They won three too.

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<v Speaker 11>By the way, it was our Timmy Peneren scoring the

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<v Speaker 11>game winning goal of brilliant tipping through his legs at

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<v Speaker 11>a minute forty three into sudden death. Earlier Ranger goals

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<v Speaker 11>by Chris Cryder shorthanded lexis left Frontier Rangers go for

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<v Speaker 11>the sweep tomorrow night.

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<v Speaker 9>Good night to the team from Dallas. The Stars, who

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<v Speaker 9>blew a three.

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<v Speaker 11>Goal lead in Game one nearly blew a four goal

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<v Speaker 11>lead in Game two with the hell Non beat Colorado

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<v Speaker 11>five to three. The MAVs won at Oklahoma City one

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<v Speaker 11>nineteen one to ten. That series also tied to one,

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<v Speaker 11>and so is the Cavs Celtics series. Cleveland lost the

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<v Speaker 11>opener by twenty five one last night in Boston by

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<v Speaker 11>twenty four, So it's acquiring og Onanobi and a Trey

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<v Speaker 11>of Toronto. The Knicks record with him in the lineup

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<v Speaker 11>is twenty six and five. He won't play tonight Game

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<v Speaker 11>three in Indiana, out with a strain hamstring.

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<v Speaker 9>Not known if or when he'll return. Nicks look to

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<v Speaker 9>go up three to nothing in the series.

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<v Speaker 11>The Phoenix Suns fired coach Frank Vogel after one season.

0:11:31.480 --> 0:11:34.120
<v Speaker 11>Widely reported the favorite to replace him as Mike Budenholzer.

0:11:34.440 --> 0:11:37.120
<v Speaker 11>He won a championship with Milwaukee the Stadium Astros at

0:11:37.160 --> 0:11:39.720
<v Speaker 11>two first hitting homers off Marcus Stroman beat the Yankees

0:11:39.760 --> 0:11:40.200
<v Speaker 11>four to three.

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<v Speaker 9>Anthony Volpin Aaron Judge homer to.

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<v Speaker 11>Defeat Quail Hollow Golf and Charlotte's Andrews Shopley shot seven

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<v Speaker 11>under leads by three at the LPGA Clift in New Jersey.

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<v Speaker 11>Nelly Corda looking to make history by winning six tournaments

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<v Speaker 11>in a row, which she's tied for eighteen six shots

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<v Speaker 11>off the pace.

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<v Speaker 9>John Stashedward Bloomberg's Boots Johnaitham.

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<v Speaker 4>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 4>and around the world on Bloomberg dot Com and the

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<v Speaker 4>Bloomberg Business app.

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<v Speaker 3>This is Bloomberg Daybreak.

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<v Speaker 9>Good morning.

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<v Speaker 3>I'm Nathan Hager. If we have to stand alone, we

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<v Speaker 3>will stand alone. That was the initial response from Israeli

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<v Speaker 3>Prime Minister Benjamin Netanyahu to President Biden's decision to withhold

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<v Speaker 3>some bomb shipments ahead of a possible attack on Rafa.

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<v Speaker 3>But the Israeli Prime Minister may be trying to smooth

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<v Speaker 3>things over a bit. In an interview with TV's Doctor

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<v Speaker 3>Film and for more. We're joined now by Bloomberg's Israel

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<v Speaker 3>Bureau chief Ethan Bronner in Tel Aviv. Ethan, good morning.

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<v Speaker 3>So in this interview, the Prime Minister said he's had

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<v Speaker 3>disagreements with President Biden before and they've overcome them before.

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<v Speaker 3>How could the is the US and Israel overcome this

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<v Speaker 3>current disagreement.

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<v Speaker 10>Good morning, Nathan Well. I suppose the answer would be

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<v Speaker 10>to somehow split the difference. That is to say, if

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<v Speaker 10>the Americans are especially concerned about civilian casualties, if Israel

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<v Speaker 10>goes into Rafa. So in theory, if Israel were to

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<v Speaker 10>really move people out in some systematic fashion and then

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<v Speaker 10>have a more targeted set of attacks at the hamas

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<v Speaker 10>militants underground there and the number of people killed is low,

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<v Speaker 10>I mean, the number of civilians killed is low. In theory,

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<v Speaker 10>that might be some form of reconciliation, right. I mean,

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<v Speaker 10>I think that the biggest problem for Israel is that

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<v Speaker 10>it's got a two front ward both in Gaza and

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<v Speaker 10>then in the North, and if it doesn't have US

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<v Speaker 10>bombs and weapons, it's going to be in a little

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<v Speaker 10>bit of trouble. So the pressure has some meaning.

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<v Speaker 3>Are we seeing any evidence at this point that Israel

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<v Speaker 3>could be headed that way when it comes to getting

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<v Speaker 3>civilians out of harm's way taking a more targeted approach.

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<v Speaker 10>You know, they've been saying some version of this on

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<v Speaker 10>and off for many many weeks. I think we really

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<v Speaker 10>don't know. One of the difficulties right now is that

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<v Speaker 10>we are all so at some kind of a hinge

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<v Speaker 10>point in these negotiations mediated by the US at Katar

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<v Speaker 10>in Egypt with Hamas for an exchange and a ceasefire.

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<v Speaker 10>So if that comes about, and I'm not especially optimistic,

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<v Speaker 10>but if it comes about, then there will be some

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<v Speaker 10>weeks without fighting, and then you never know where that goes, right.

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<v Speaker 10>I mean, that's a little bit why hardliners in this

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<v Speaker 10>country don't want there to be too much of a ceasefire,

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<v Speaker 10>but the government says it's willing if they can get

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<v Speaker 10>hostages back, so I think there is some reason to

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<v Speaker 10>think that. And what I'm saying also is that as

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<v Speaker 10>Israel edges toward Rafa, part of it is to pressure

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<v Speaker 10>these negotiations.

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<v Speaker 9>So it's kind of a.

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<v Speaker 10>Double game in reality happening but also sending a message.

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<v Speaker 10>It's difficult to really know what the ultimate attack in

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<v Speaker 10>Rafack is going to be. I want to add one

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<v Speaker 10>other thing, which is that there are reports that they've

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<v Speaker 10>been talking about and waiting so long that the so

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<v Speaker 10>called for battalions underground in Rafa may now be down

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<v Speaker 10>to two or three with Hummas fighters having moved back

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<v Speaker 10>to the center of the Gaza strip to Han Yunis

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<v Speaker 10>and Deir Balach. You know, I don't know that, but

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<v Speaker 10>it is an interesting problem if true.

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<v Speaker 3>Wellly about thirty seconds left Ethan. We've heard a lot

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<v Speaker 3>about what hardliners are looking for when it comes to

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<v Speaker 3>an invasion of Rafa. What are these rarely people looking

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<v Speaker 3>for right now?

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<v Speaker 10>I would say that the Israeli people, by a slight majority,

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<v Speaker 10>would rather see a hostage deal, and they do generally

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<v Speaker 10>think it's important to destroy Hamas, but they're really eager

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<v Speaker 10>to get back the one hundred plus people, many of

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<v Speaker 10>them dead, about half probably dead, half living, half dead,

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<v Speaker 10>that are still in the hands of Hamas. That is

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<v Speaker 10>their top priority right now.

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<v Speaker 12>This is Bloomberg Daybreak Today, your morning brief on the

0:15:53.120 --> 0:15:56.480
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<v Speaker 3>I'm Nathan Hager and.

0:16:33.040 --> 0:16:35.360
<v Speaker 2>I'm John Tucker. Join us again tomorrow morning for all

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<v Speaker 2>on Bloomberg day Break