Trump Sets Tariffs on Steel and Aluminum, Altman Responds to Musk's OpenAI Offer

Bloomberg Audio Studios, Podcasts, radio News. 0:00:10.240 --> 0:00:13.440 Good morning, I'm Nathan Hager and I'm Karen Moscow. Here 0:00:13.440 --> 0:00:15.160 are the stories we're following today. 0:00:15.440 --> 0:00:19.160 Karen, we begin with tariffs and President Trump following through 0:00:19.239 --> 0:00:21.800 on his pledge to place a twenty five percent duty 0:00:21.800 --> 0:00:25.560 on all US steel and aluminum imports. The tariffs will 0:00:25.560 --> 0:00:28.440 go into effect March twelfth. The President is warning, though, 0:00:28.480 --> 0:00:31.920 that the rate may go higher. Speaking from the Oval Office, 0:00:31.960 --> 0:00:34.919 the President insisted the move with help boost domestic production 0:00:35.040 --> 0:00:36.960 and bring jobs to the US. 0:00:37.680 --> 0:00:40.880 Protecting our stealed aluminum industries is a must. And today 0:00:40.920 --> 0:00:44.519 I'm simplifying our tariffs and CEO and aluminum so that 0:00:44.600 --> 0:00:48.040 everyone can understand exactly what it means. It's twenty five 0:00:48.080 --> 0:00:52.479 percent without exceptions or exemptions, and that's all countries, no 0:00:52.479 --> 0:00:55.240 matter where it comes from, all countries. If made in 0:00:55.320 --> 0:00:59.240 the United States, however, there is no tariff zero. 0:01:00.120 --> 0:01:02.800 President Trump's move comes on top of new ten percent 0:01:02.880 --> 0:01:06.399 tariffs on goods from China and twenty five percent levies 0:01:06.400 --> 0:01:09.760 on Canadian and Mexican products that are currently paused for 0:01:09.920 --> 0:01:10.440 one month. 0:01:11.000 --> 0:01:14.760 And Nathan, these latest tariffs are leading to retaliation overseas. 0:01:14.800 --> 0:01:18.200 The European Union says it will respond to any tariffs 0:01:18.200 --> 0:01:20.959 the US might impose on it. The BLOCKS Trade chief 0:01:21.000 --> 0:01:23.839 Marozefkevich spoke today in the European Parliament. 0:01:23.959 --> 0:01:27.640 We are currently assessing the scope of the measures announced 0:01:27.680 --> 0:01:32.959 overnight overnight and will be responding infirm and a proportionate 0:01:33.040 --> 0:01:34.640 way by countmass. 0:01:34.920 --> 0:01:39.280 In addition to Maro's Sefkevich's comments, European Commission President Ursula 0:01:39.360 --> 0:01:42.320 vonder Lyons said in a statement today the EU will 0:01:42.360 --> 0:01:43.680 not go unanswered. 0:01:43.840 --> 0:01:44.000 Well. 0:01:44.080 --> 0:01:48.320 President Trump says there are zero exemptions to these tariffs Karen, 0:01:48.360 --> 0:01:51.720 but one nation maybe getting a carve out, Australia. It's 0:01:51.720 --> 0:01:54.160 Prime Minister Anthey Albany said he made the case for 0:01:54.160 --> 0:01:56.320 an exemption in a phone call with the President and 0:01:56.360 --> 0:02:00.000 said he agreed to consider an exemption on Australian steam 0:02:00.240 --> 0:02:04.120 and aluminum. Both the leaders cited the US trade surplus 0:02:04.120 --> 0:02:07.240 with Australia as a key reason for a carveout. 0:02:07.280 --> 0:02:10.760 Well Nathan. Turning to geopolitics, President Trump has given Hamasa 0:02:10.880 --> 0:02:13.919 warning after it announced it was indefinitely postponing the next 0:02:14.000 --> 0:02:17.600 release of Israeli hostages that was said to happen this weekend. 0:02:17.680 --> 0:02:20.880 Trump says if the hostages are not freed, Israel should 0:02:20.960 --> 0:02:22.040 end it, ceasefire. 0:02:22.320 --> 0:02:25.040 As far as I'm concerned, if all of the hostages 0:02:25.040 --> 0:02:29.120 aren't returned by Saturday at twelve o'clock, I think it's 0:02:29.160 --> 0:02:33.799 an appropriate time. I would say cancel it and all 0:02:33.840 --> 0:02:36.840 bets are off and let hell break out. 0:02:37.320 --> 0:02:40.160 President Trump also threatened to cut off foreign age to 0:02:40.280 --> 0:02:43.359 Jordan and Egypt if they don't agree to take Palestinian 0:02:43.440 --> 0:02:46.840 refugees from the Gaza Strip. Trump reiterated his plan to 0:02:46.880 --> 0:02:50.079 take control and rebuild the Gaza Strip, saying Palestinians might 0:02:50.120 --> 0:02:52.600 not have the right to return to the area under 0:02:52.639 --> 0:02:53.960 his proposal. 0:02:53.639 --> 0:02:56.520 And in a conversation with Fox newscare And President Trump 0:02:56.600 --> 0:02:59.919 was asked if he views his Vice President JD. Vance 0:03:00.200 --> 0:03:01.320 as his successor. 0:03:01.840 --> 0:03:04.960 No, but he's very capable. I mean, I don't think that, 0:03:05.560 --> 0:03:07.040 you know, I think you have a lot of very 0:03:07.080 --> 0:03:07.959 capable people. 0:03:08.600 --> 0:03:08.920 So far. 0:03:08.960 --> 0:03:11.360 I think he's doing a fantastic job. It's too early, 0:03:11.400 --> 0:03:12.600 we're just starting. 0:03:12.639 --> 0:03:15.680 And the President's comments come as the Vice president is 0:03:15.720 --> 0:03:19.200 in Europe attending a summit on artificial intelligence in Paris, 0:03:19.960 --> 0:03:20.280 and in. 0:03:20.240 --> 0:03:24.000 A stunning move, Nathan, the Trump administration has ordered federal 0:03:24.040 --> 0:03:27.480 prosecutors to drop their corruption case against New York City 0:03:27.520 --> 0:03:31.600 Mayor Eric Adams. Bloomberg's John Tucker joins us with the details, 0:03:31.600 --> 0:03:32.760 and John, what do we know well? 0:03:32.760 --> 0:03:34.920 The demand Karen to drop the charges. This comes in 0:03:34.960 --> 0:03:38.360 a memo by a high ranking Department of Justice official. 0:03:38.840 --> 0:03:41.800 It claims the case against Adams, so a Democrat, was 0:03:41.840 --> 0:03:46.440 politically motivated and is preventing him from tackling immigration and 0:03:46.560 --> 0:03:50.200 violent crime with a highly unusual intervention. It comes after 0:03:50.280 --> 0:03:53.200 months of Adams trying to curry favor with President Trump. 0:03:53.600 --> 0:03:56.320 Adams is New York City's first sitting mayor in modern 0:03:56.440 --> 0:03:59.800 history to be charged with a federal crime. A prosecutor 0:03:59.800 --> 0:04:03.279 said at the time that he accepted illegal campaign donations 0:04:03.520 --> 0:04:07.960 and luxury travel upgrades. Adams in recent months traveled to 0:04:08.000 --> 0:04:10.480 Florida to meet Trump at mar Alango and attended the 0:04:10.480 --> 0:04:15.040 president's inauguration, and he's avoided criticizing the President. Trump, who 0:04:15.120 --> 0:04:18.200 was and dined in non federal changes himself, has expressed 0:04:18.200 --> 0:04:22.279 sympathy for Adams in New York. I'm John Tucker, Bloomberg Radio. 0:04:22.120 --> 0:04:25.039 All Right, John Thanking. This move for New York City's 0:04:25.080 --> 0:04:29.799 mayor comes after President Trump officially pardoned disgraced former Illinois 0:04:29.839 --> 0:04:33.799 Governor Rod Blagoyevitch. The President announced that from the Oval office, 0:04:33.960 --> 0:04:34.360 it's my. 0:04:34.400 --> 0:04:37.200 Honor to do it. I've watched him. He was set 0:04:37.279 --> 0:04:40.279 up by a lot of bad people, some of the 0:04:40.279 --> 0:04:41.800 same people that I had to deal with. 0:04:42.680 --> 0:04:46.279 President Trump says he knows Rod Blogoyevitch from his time 0:04:46.640 --> 0:04:50.240 on the Celebrity Apprentice. Bligoyevitch served as a Democrat. He 0:04:50.320 --> 0:04:52.480 was removed from office in Illinois in two thousand and 0:04:52.520 --> 0:04:55.080 nine for attempting to solicit bribes to fill the Senate 0:04:55.160 --> 0:04:58.719 seat that Barack Obama vacated when he became president. In 0:04:58.760 --> 0:05:03.240 twenty twenty, President and Trump commuted Bogoyevitch's fourteen year prison sentence. 0:05:03.760 --> 0:05:05.760 Well to the Economy Now, Nathan and vetch here J. 0:05:05.920 --> 0:05:09.200 Powell will face tough hearings on Capitol Hills starting today. 0:05:09.320 --> 0:05:12.919 During what's expected to be hyper charged hearings over shadowed 0:05:12.960 --> 0:05:16.239 by President Trump. Bloomberg's Amy Morris has more from Washington. 0:05:16.600 --> 0:05:20.000 Democrats and Republicans are likely to question Powell on President 0:05:20.040 --> 0:05:24.600 Trump's policies, including banking regulations and a rollback of diversity efforts. 0:05:24.880 --> 0:05:28.719 During the FOMC news conference last month, Powell explained they 0:05:28.800 --> 0:05:30.359 are in a wait in c mode. 0:05:30.440 --> 0:05:33.280 We need to let those policies be articulated before we 0:05:33.320 --> 0:05:36.440 can even begin to make a plausible assessment of what 0:05:36.480 --> 0:05:38.039 their implications for the economy will be. 0:05:38.120 --> 0:05:40.839 Lawmakers are likely to raise concerns about the Fed's miss 0:05:40.839 --> 0:05:43.960 of its two percent inflation target, its response to Donald 0:05:44.000 --> 0:05:47.599 Trump's executive order on DEI policies, and it stands on 0:05:47.720 --> 0:05:52.440 bank regulations, among other issues. In Washington, Amy Morris, Bloomberg Radio. 0:05:52.279 --> 0:05:54.159 All right, Amy, thank you, and Bloomberg will bring you 0:05:54.160 --> 0:05:57.000 live coverage of Powell's testimony starting at ten am Wall 0:05:57.040 --> 0:06:00.560 Street time on Bloomberg Radio and the Bloomberg podcast page 0:06:00.600 --> 0:06:01.320 on YouTube. 0:06:01.520 --> 0:06:03.960 Cern two tech Now Karen, a group of investors led 0:06:04.000 --> 0:06:06.760 by Elon Musk, has offered to buy the nonprofit that 0:06:06.800 --> 0:06:10.760 controls Open Ai for ninety seven point four billion dollars, 0:06:10.800 --> 0:06:14.200 but in response, the CEO of Open Ai, Sam Altman, 0:06:14.279 --> 0:06:18.159 posted on Musk's x platform quote, no, thank you, but 0:06:18.279 --> 0:06:21.200 we will buy Twitter for nine point seven four billion 0:06:21.240 --> 0:06:24.520 dollars if you want. At the AI Action Summit in Paris, 0:06:24.560 --> 0:06:28.680 sam Aldman spoke with Bloomberg's Tom mackenzie about Elon Musk's influence. 0:06:29.520 --> 0:06:31.080 I mean, look, open AI is not for sale. The 0:06:31.120 --> 0:06:32.440 open admission is not for sale. 0:06:32.560 --> 0:06:34.960 Elon tries all sorts of things for a long time, 0:06:36.320 --> 0:06:39.599 just as the lad you know. This week's episode, that's 0:06:39.640 --> 0:06:43.080 Open AI CEO Sam Altman speaking with Bloomberg's Tom mackenzie 0:06:43.200 --> 0:06:46.400 from the AI Action Summit in Paris, well Nathan. 0:06:46.440 --> 0:06:50.080 Also at the AI Action Summit was Vice President jd Vance, 0:06:50.160 --> 0:06:52.960 making his debut on the world stage. He just delivered 0:06:52.960 --> 0:06:55.320 a keynote speech where he talked about the promise of 0:06:55.360 --> 0:06:58.760 a fast developing technology AI I really. 0:06:58.480 --> 0:07:02.880 Believe will facilita and make people more productive. It is 0:07:02.920 --> 0:07:05.880 not going to replace human beings. It will never replace 0:07:05.960 --> 0:07:08.480 human beings. And I think too many of the leaders 0:07:08.640 --> 0:07:11.520 in the AI industry when they talk about this fear 0:07:11.640 --> 0:07:14.480 of replacing workers, I think they really missed the point 0:07:14.720 --> 0:07:17.560 AI we believe is going to make us more productive, 0:07:18.000 --> 0:07:20.640 more prosperous, and more free. 0:07:20.680 --> 0:07:23.680 And Vice President jd Vance also warnt against AI dealing 0:07:23.720 --> 0:07:28.080 with ideological bias and said excess regulation could kill the 0:07:28.120 --> 0:07:33.560 developing industry. Time now for look at some of the 0:07:33.560 --> 0:07:35.760 other stories making news in New York and around the 0:07:35.760 --> 0:07:38.880 world and for that. We're joined by Bloomberg's Michael Barr. Michael, 0:07:38.880 --> 0:07:39.840 good morning, Good. 0:07:39.640 --> 0:07:42.800 Morning, Karen. Here comes another batch of winter weather for 0:07:42.880 --> 0:07:45.600 the mid Atlantic. How much snow will the Try State 0:07:45.640 --> 0:07:49.920 area again? Bloomberg Medior religist Rob Carolyn as the latest. 0:07:50.000 --> 0:07:52.600 Michael double barreled low pressure system is going to bring 0:07:52.640 --> 0:07:54.640 some rain and snow to portions of the mid Atlantic 0:07:54.720 --> 0:07:56.920 and the Northeast over the next several days. The first 0:07:56.920 --> 0:07:59.120 batch is snow today. That's why winter storm morning is 0:07:59.160 --> 0:08:01.240 an't effect for much the mid Atlantic and some winter 0:08:01.240 --> 0:08:04.080 weather advisors as far north as central New Jersey. The 0:08:04.160 --> 0:08:06.080 district in Baltimore could see as much as three to 0:08:06.120 --> 0:08:08.720 six inches of snow today and into tonight, while New 0:08:08.800 --> 0:08:11.120 York City and Philadelphia pick up a couple of inches 0:08:11.240 --> 0:08:14.559 later tonight and into early tomorrow morning. The second storm 0:08:14.600 --> 0:08:16.800 brings a mixed bag of precipitation of portions in the 0:08:16.800 --> 0:08:20.680 Northeast Wednesday night and on into Thursday. I'm Rob carrolln 0:08:20.720 --> 0:08:21.640 Bloomberg Radio. 0:08:21.800 --> 0:08:25.360 Thank you, Rob. Authorities are investigating a small jet crash 0:08:25.480 --> 0:08:29.480 that happened in Scottsdale, Arizona. Officials say the Lear Jets 0:08:29.560 --> 0:08:33.079 landing gear failed causing it to crash into a Gulf 0:08:33.080 --> 0:08:36.400 Stream jet just off the runway. One person was killed 0:08:36.440 --> 0:08:40.160 and four were injured. Kelly Keaster is the aviation Planning 0:08:40.160 --> 0:08:43.000 and outreach coordinator at the Scottsdale Airport. 0:08:43.320 --> 0:08:46.719 The National Transportation Safety Board is on scene. They will 0:08:46.720 --> 0:08:49.040 be taking over the investigation at this point. 0:08:49.280 --> 0:08:51.840 The lear Jet is registered to a company owned by 0:08:52.000 --> 0:08:55.599 Motley Crude. Lead singer Vince Neil, the rock Star was 0:08:55.720 --> 0:08:59.600 not on the plane. Today. At a Manhattan Criminal corda 0:08:59.679 --> 0:09:02.959 hearing is set to discuss a possible plea deal for 0:09:02.960 --> 0:09:06.720 former Trump advisor Steve Bennon. Bennon's attorney says he is 0:09:06.760 --> 0:09:10.600 planning on pleading guilty in a fraud case involving fundraising 0:09:10.800 --> 0:09:14.480 for a piece of US Mexico border wall. The deal 0:09:14.600 --> 0:09:18.360 will likely allow him to avoid prison time. Finally, tonight 0:09:18.440 --> 0:09:21.280 we'll find out who is top dog. Hundreds of dogs 0:09:21.320 --> 0:09:24.400 and their handlers have taken over New York's Madison Square 0:09:24.400 --> 0:09:28.000 Garden this week as the Westminster Kennell Club Dog Show 0:09:28.080 --> 0:09:31.240 is underway. They are competing for the covened Best in 0:09:31.480 --> 0:09:34.839 Show title, which will be awarded tonight. This woman, who 0:09:34.880 --> 0:09:38.760 is participating with her bever Terrier says. Everyone at the 0:09:38.760 --> 0:09:40.280 show comes with the same goal. 0:09:40.600 --> 0:09:43.080 They just love us and we love them. That's why 0:09:43.080 --> 0:09:46.000 I'm here today, the love for the breed and dogs 0:09:46.000 --> 0:09:46.480 in general. 0:09:46.880 --> 0:09:49.040 It is the one hundred and forty ninth year for 0:09:49.080 --> 0:09:52.040 the show Global News twenty four hours a day and 0:09:52.160 --> 0:09:55.080 whenever you want it with Bloomberg News. Now. I'm Michael Barr, 0:09:55.080 --> 0:09:56.800 and this is Bloomberg Karen. 0:09:56.920 --> 0:10:04.000 Ray, Michael Barr, thank you time now for the Bloomberg 0:10:04.080 --> 0:10:07.240 Sports Update, brought to you by Try State Audie. Here's 0:10:07.280 --> 0:10:08.200 John Stanshower. 0:10:08.320 --> 0:10:10.240 John, good morning, Good morning, Karen. Look at Don Sich 0:10:10.280 --> 0:10:12.520 had and played the games since so leg injury suffered 0:10:12.559 --> 0:10:15.000 on Christmas. That was when he was with Dallas. He's 0:10:15.000 --> 0:10:17.240 now a Laker. Made his debut in La threw an 0:10:17.240 --> 0:10:19.520 Alley Oh pass in the opening minute. I played twenty 0:10:19.559 --> 0:10:22.480 four minutes, scored fourteen points, shooting five of fourteen, only 0:10:22.520 --> 0:10:25.120 one of seven from three, five rebounds, four assists in 0:10:25.200 --> 0:10:28.240 the Lakers easy win over Utah. 0:10:28.040 --> 0:10:32.079 You're special. The way they received me, everybody, it was 0:10:32.160 --> 0:10:36.280 amazing to see. It was a little nervous before. I mean, 0:10:36.360 --> 0:10:38.240 when was the last time it was nervous before? The game, 0:10:39.600 --> 0:10:41.240 but once a step on the core was it was 0:10:41.280 --> 0:10:44.160 fun and just being out there again felt amazing. 0:10:44.360 --> 0:10:46.679 Lakers have one twelve the last fourteen. They moved into 0:10:46.720 --> 0:10:49.120 fourth place in the West. Will played the Jazz again tomorrow, 0:10:49.240 --> 0:10:51.600 last game before the All Star Break. Next play tonight 0:10:51.600 --> 0:10:53.680 at Indiana. It was the Pacers who took the Knicks 0:10:53.679 --> 0:10:56.320 out of the playoffs last year. At Barklay's, Nets put 0:10:56.360 --> 0:10:59.000 six and double figures beat Charlotte ninety seven to eighty 0:10:59.080 --> 0:11:02.040 nine Celtics. Last he had those big road winds in Cleveland, 0:11:02.200 --> 0:11:04.240 then at the Garden they won in Miami one o 0:11:04.320 --> 0:11:07.040 three to eighty five. Jason Tatum scored thirty three. The 0:11:07.080 --> 0:11:09.920 dispute over ownership of the Minnesota Timberwolves went to an 0:11:10.040 --> 0:11:14.040 arbitration panel that ruled in favor of the hopeful incoming 0:11:14.080 --> 0:11:17.240 group headed by Mark Laura and Alex Rodriguez. Current owner 0:11:17.280 --> 0:11:20.800 Glenn Taylor felt they had missed the deadline for a payment. 0:11:20.880 --> 0:11:24.959 Latest college basketball rankings have Auburn first, Alabama second, and 0:11:25.040 --> 0:11:28.120 the art Rivals will play on Saturday. Red hot Saint John's, 0:11:28.120 --> 0:11:31.440 now ranked ninth in the country, playing tomorrow at Villanova 0:11:31.520 --> 0:11:34.760 College Hockey in Boston. Sellout crad for the final of 0:11:34.760 --> 0:11:38.000 the annual Bean Pot a Toorney bu upset top rank 0:11:38.080 --> 0:11:40.760 BC four to one. Due to the fires, the Genesis 0:11:40.800 --> 0:11:41.719 Golf it starts. 0:11:41.480 --> 0:11:43.120 Thursday, was moved from rivi Aera. 0:11:42.960 --> 0:11:45.360 In LA out of Torrey Pines outside San Diego Tiger 0:11:45.400 --> 0:11:48.800 Woods as the host he was going to play, He's withdrawn, 0:11:48.920 --> 0:11:51.840 saying he's still processing the death of his mother last week. 0:11:52.200 --> 0:11:56.439 Pitchers and catchers report today for spring training first workouts tomorrow. 0:11:56.480 --> 0:11:59.600 The parade for the Eagles will be Friday in Philadelphia. 0:12:00.080 --> 0:12:02.239 Dash Edward Bloomberg Sports can carry Nathan. 0:12:04.040 --> 0:12:08.040 Coast to coast on Bloomberg Radio nationwide on Serious Exam 0:12:08.320 --> 0:12:11.160 and around the world on Bloomberg dot Com and the 0:12:11.200 --> 0:12:14.280 Bloomberg Business app. This is Bloomberg Daybreak. 0:12:14.679 --> 0:12:15.120 Good morning. 0:12:15.160 --> 0:12:18.080 I'm Nathan Hager. It is the latest salvo in President 0:12:18.120 --> 0:12:21.160 Donald Trump's bid to protect US industries by getting tough 0:12:21.280 --> 0:12:24.679 on trade. The President is ordering twenty five percent tariffs 0:12:24.679 --> 0:12:27.520 on steel and aluminum imports into the US, and he 0:12:27.559 --> 0:12:29.000 says it's only the beginning. 0:12:29.360 --> 0:12:31.960 It's a big deal. It's a big deal. This is 0:12:32.000 --> 0:12:35.880 the beginning of making America rich again. 0:12:36.240 --> 0:12:38.480 That was the president as He signed the order at 0:12:38.520 --> 0:12:40.679 the Oval Office last night, from where we were joined 0:12:40.679 --> 0:12:43.800 this morning by Bloomberg News Senior editor Bill Ferry. So, Bill, 0:12:44.200 --> 0:12:47.880 looks like the President is serious about tariffs, at least 0:12:47.880 --> 0:12:49.040 when it comes to metals. 0:12:49.080 --> 0:12:52.520 Good morning, Hey, Good morning, Nathan. 0:12:52.640 --> 0:12:52.840 Yeah. 0:12:52.840 --> 0:12:54.800 I mean, if you remember, just a couple of weeks ago, 0:12:54.840 --> 0:12:57.800 we were talking about the president's threat to put twenty 0:12:57.800 --> 0:13:02.400 five percent tariffs on all goods coming from Canada and Mexico, 0:13:02.920 --> 0:13:05.280 and at the last minute, literally the day of, there 0:13:05.320 --> 0:13:08.800 was an agreement reach to postpone that until early March. 0:13:09.120 --> 0:13:11.720 It did raise questions about how far the President was 0:13:11.760 --> 0:13:14.800 willing to go, but he acted very quickly here. He 0:13:14.840 --> 0:13:18.000 announced his plans to put in these tariffs on Super 0:13:18.000 --> 0:13:21.480 Bowl Sunday, and now we have them, and we're already 0:13:22.600 --> 0:13:23.880 starting to see a reaction. 0:13:24.080 --> 0:13:24.280 Now. 0:13:24.400 --> 0:13:27.000 He said that the terriffs will come into effect on 0:13:27.160 --> 0:13:31.040 March twelfth, so that does leave a lot of time 0:13:31.200 --> 0:13:35.560 for negotiating. We've heard him say already that Australia is 0:13:35.880 --> 0:13:40.360 one country that he would consider for sometion. But you 0:13:40.400 --> 0:13:43.120 can rest assured that there's going to be a lobbying 0:13:43.200 --> 0:13:46.440 spree taking off among other nations that would be affected 0:13:46.480 --> 0:13:51.959 by this. It includes places like United Arab Immorants, South Korea, Taiwan, 0:13:52.640 --> 0:13:56.320 and many others. So they are set to come into place, 0:13:57.040 --> 0:13:59.560 but we still don't know what that impact will be 0:13:59.640 --> 0:14:00.000 just yet. 0:14:00.360 --> 0:14:02.440 Well, what kind of impact could we see bill in 0:14:02.520 --> 0:14:06.160 terms of the global reaction? I mean, we've already heard 0:14:06.200 --> 0:14:09.959 from the European Commission saying that they've got countermeasures ready 0:14:10.000 --> 0:14:12.199 to go. I mean, are we looking ahead to a 0:14:12.240 --> 0:14:14.200 potentially fraught negotiation here? 0:14:16.200 --> 0:14:17.559 I think very potentially. 0:14:17.640 --> 0:14:17.880 Yeah. 0:14:17.960 --> 0:14:21.880 I Mean one thing is that President Trump's order goes 0:14:21.960 --> 0:14:27.680 beyond just steel and aluminum. It includes finished metal products, 0:14:28.320 --> 0:14:30.480 so that carries it a little bit further than his 0:14:30.640 --> 0:14:35.440 last The last time he used tariffs on imports like 0:14:35.480 --> 0:14:38.000 this before, we know that, you know, we know from 0:14:38.000 --> 0:14:42.040 past experience that the EU had about three billion dollars 0:14:42.080 --> 0:14:45.760 in tariff set against some of those iconic American goods, 0:14:46.560 --> 0:14:53.520 things like Harley Davidson motorcycles and Kentucky bourbons. We make 0:14:53.600 --> 0:14:56.200 it easily put that back in place very quickly after 0:14:56.280 --> 0:14:59.760 March twelfth. If these actually go into effect, it does 0:15:00.200 --> 0:15:02.920 questions too about the inflationary impact. We'll just have to 0:15:03.000 --> 0:15:06.480 wait and see whether they whether these things and then 0:15:06.520 --> 0:15:12.600 whether those those prices price increases starts showing up for consumers. 0:15:12.280 --> 0:15:14.600 In our last minute bill on top of these tariffs, 0:15:14.640 --> 0:15:17.600 we're hearing the President talking even tougher as well when 0:15:17.640 --> 0:15:20.000 it comes to the ceasefire in Gaza. 0:15:22.080 --> 0:15:22.560 That's right. 0:15:22.640 --> 0:15:26.800 He he was, i think reacting to this Hamas deciding 0:15:26.840 --> 0:15:30.040 that it wanted to delay implementation or release of additional 0:15:30.040 --> 0:15:33.640 hostages for a little bit. The President showing his impatience 0:15:33.720 --> 0:15:37.200 with that, and he basically set this, uh somewhat arbitrary 0:15:37.240 --> 0:15:40.080 deadline of noon on Saturday, and he said if all 0:15:40.120 --> 0:15:44.880 the hostages aren't released by then, then then the Israel 0:15:44.920 --> 0:15:48.240 should consider the whole truth to be to be off 0:15:48.320 --> 0:15:52.800 and go back to conflict there. So we're still we 0:15:52.880 --> 0:15:56.000 still have a few weeks left in this conflict, this truth. 0:15:56.120 --> 0:16:00.440 I'm sorry, uh, And there's still I think almost seventy 0:16:00.480 --> 0:16:05.720 hostages still held by Hamas. So it's a pretty fragile 0:16:05.720 --> 0:16:07.880 time there and the President drawing a hard one. 0:16:07.960 --> 0:16:10.920 This is Bloomberg day Break, your morning podcast on the 0:16:10.960 --> 0:16:14.480 stories making news from Wall Street to Washington and beyond. 0:16:14.720 --> 0:16:17.120 Look for us on your podcast feed by six am 0:16:17.160 --> 0:16:20.600 Eastern each morning on Apple Spotify, or anywhere else you listen. 0:16:20.800 --> 0:16:23.640 You can also listen live each morning starting at five 0:16:23.680 --> 0:16:26.280 am Wall Street Time on Bloomberg eleven three to zero 0:16:26.400 --> 0:16:29.280 in New York, Bloomberg in ninety nine to one in Washington, 0:16:29.360 --> 0:16:32.680 Bloomberg ninety two to nine in Boston, and nationwide on 0:16:32.840 --> 0:16:35.200 serious XM Channel one twenty one. 0:16:35.440 --> 0:16:38.200 Plus listen coast to coast on the Bloomberg Business app 0:16:38.240 --> 0:16:41.040 Now with Apple CarPlay and Android Atuto interfaces. 0:16:41.280 --> 0:16:44.280 And don't forget to subscribe to Bloomberg News Now. 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