Baltimore Bridge Latest and Trump's Trial & Fortune

Bloomberg Audio Studios, Podcasts, radio News. 0:00:11.000 --> 0:00:14.160 Good morning, I maybe Morris and I'm Karen Moscow. Here 0:00:14.200 --> 0:00:15.960 are the stories we're following today. 0:00:16.400 --> 0:00:19.080 We begin with the tragedy near Baltimore. It is no 0:00:19.200 --> 0:00:22.360 longer a search and rescue operation. It is now search 0:00:22.440 --> 0:00:26.200 and recover after yesterday's collapse of the Francis Scott Key Bridge. 0:00:26.400 --> 0:00:28.440 A road crew was working on the bridge at the 0:00:28.480 --> 0:00:31.040 time of the collapse. Now two of them have been rescued, 0:00:31.360 --> 0:00:35.240 six remain unaccounted for. The area remains blocked off to traffic, 0:00:35.240 --> 0:00:38.200 which means a major artery around the city of Baltimore 0:00:38.320 --> 0:00:41.920 is also blocked off. Baltimore Mayor Brandon Scott is asking 0:00:42.000 --> 0:00:43.159 for people to be patient. 0:00:43.320 --> 0:00:44.400 They're going to be detours. 0:00:44.520 --> 0:00:47.640 This is going to be a long road. But when 0:00:47.680 --> 0:00:48.360 we think. 0:00:48.159 --> 0:00:51.480 About the realities of what those families are going through 0:00:51.840 --> 0:00:55.080 versus us have it this spend a little bit more 0:00:55.120 --> 0:00:57.360 time in traffic we can't even compare. 0:00:57.920 --> 0:01:00.840 Baltimore Mayor Brandon Scott says the search is the priority, 0:01:00.880 --> 0:01:04.240 but he also recognizes the economic ripple effect this will 0:01:04.280 --> 0:01:05.279 have on his city. 0:01:05.880 --> 0:01:08.600 Well Lamy, the business that contracted the road work as 0:01:08.640 --> 0:01:13.039 Broner Builder's company attorney Jeffrey Pritzker explains it's possible the 0:01:13.120 --> 0:01:15.240 crew never heard any warnings. 0:01:15.520 --> 0:01:17.560 Where they were working on the bridge was right in 0:01:17.640 --> 0:01:20.959 the center span of the bridge, so it's quite possible 0:01:21.000 --> 0:01:23.759 that they heard nothing and had no idea what happened 0:01:23.880 --> 0:01:25.400 until it happened. 0:01:25.640 --> 0:01:29.480 Attorney Jeffrey Pritzker. Maryland Governor Wes Moore says the loss 0:01:29.520 --> 0:01:32.280 of the bridge and the loss of life is heartbreaking. 0:01:32.800 --> 0:01:34.560 When I first got the phone call in the middle 0:01:34.560 --> 0:01:38.039 of the night saying the Key bridge is gone one, 0:01:38.200 --> 0:01:41.960 it takes your breath away and then immediately start thinking about. 0:01:41.720 --> 0:01:44.679 These families and Governor Moore says the work will continue 0:01:44.720 --> 0:01:47.320 to find those who are still missing. The next phase 0:01:47.319 --> 0:01:49.760 of the recovery process begins this morning. 0:01:50.600 --> 0:01:53.240 The one point six mile long bridge collapsed in just 0:01:53.280 --> 0:01:56.680 a matter of seconds. The catastrophic consequences are set to 0:01:56.680 --> 0:02:00.240 stretch out for weeks. President Biden says the government needs 0:02:00.280 --> 0:02:00.880 to step up. 0:02:01.280 --> 0:02:04.200 That's my intention that federal governor will pay for the 0:02:04.400 --> 0:02:06.640 entire cost to reconstructing that bridge. 0:02:07.120 --> 0:02:09.800 I expect the Congress to support my effort. 0:02:10.480 --> 0:02:14.120 Facing months of uncertainty, Baltimore and Maryland both have declared 0:02:14.160 --> 0:02:15.239 a state of emergency. 0:02:16.000 --> 0:02:18.840 Well, I mean, the aftermath of the bridges collapse throws 0:02:18.880 --> 0:02:22.800 another spotlight on the fragile nature of global supply chains. 0:02:22.840 --> 0:02:25.720 Brendan Murray leads to our global trade coverage for Bloomberg. 0:02:26.120 --> 0:02:28.760 The Port of Baltimore has closed indefinitely. They're they're going 0:02:28.840 --> 0:02:32.520 to have, you know, weeks or months of salvage operations 0:02:32.880 --> 0:02:35.320 to clean up the site. All that cargo is going 0:02:35.360 --> 0:02:39.200 to have to go somewhere else, places like Norfolk, Virginia, Charleston, 0:02:39.240 --> 0:02:43.480 South Carolina, Savannah, Georgia. The big ships will have to 0:02:43.520 --> 0:02:45.280 go to New York and New Jersey. So there's going 0:02:45.320 --> 0:02:48.840 to be a period where supply chains have these wrinkles 0:02:48.880 --> 0:02:50.480 that need to be ironed out. It's going to be 0:02:50.919 --> 0:02:53.600 it's going to mean delays for people and businesses for 0:02:53.680 --> 0:02:56.680 their for their parts and their products, and it's going 0:02:56.760 --> 0:02:59.440 to possibly mean some some higher costs in the short. 0:02:59.240 --> 0:03:02.520 Term bloom Brendon Murray says about thirty five thousand people 0:03:02.600 --> 0:03:06.240 use the bridge every day. The American Trucking Association says 0:03:06.280 --> 0:03:09.440 the annual value of goods going over is about twenty 0:03:09.480 --> 0:03:11.200 eight billion dollars, And. 0:03:11.200 --> 0:03:13.919 Of course we will continue to follow the latest developments 0:03:13.919 --> 0:03:16.760 on the bridge collapse right here on Bloomberg Radio. Now, 0:03:16.840 --> 0:03:19.600 let's turn to political news. Robert F. Kennedy Junior has 0:03:19.639 --> 0:03:22.920 picked Nicole Shanahan to be his vice presidential pick and 0:03:23.000 --> 0:03:25.560 his independent White House bid that's trying to appeal to 0:03:25.639 --> 0:03:28.639 voters disaffected by a rematch of the twenty twenty election. 0:03:29.000 --> 0:03:32.200 The thirty eight year old Shanahan is a California lawyer 0:03:32.240 --> 0:03:35.760 and a philanthropist who has never held elected office. 0:03:35.800 --> 0:03:39.840 Meanwhile, Amy, the Republican presidential candidate, is also making headlines. 0:03:39.880 --> 0:03:42.520 Donald Trump will need to be careful with this rhetoric 0:03:42.640 --> 0:03:45.760 during his trial concerning alleged payments to Stormy Daniels and 0:03:45.840 --> 0:03:48.200 Bloomberg's Nancy Lyons reports. 0:03:48.160 --> 0:03:50.440 Now that in April fifteenth, start date has been set 0:03:50.480 --> 0:03:53.520 for Donald Trump's trial on alleged hush money payments. The 0:03:53.600 --> 0:03:56.320 judges out with some ground roles for the former president. 0:03:56.640 --> 0:04:00.160 Judge wanmer Shan has issued a gag order banning Trump 0:04:00.160 --> 0:04:04.280 for making statements about witnesses, lawyers, or jurors involved in 0:04:04.280 --> 0:04:08.200 the trial. Manhattan District Attorney Alvin Braggs sought the order 0:04:08.240 --> 0:04:12.920 because of Trump's quote longstanding history of verbal attacks. The 0:04:12.920 --> 0:04:16.360 trial marks the first criminal prosecution of a former American 0:04:16.400 --> 0:04:19.800 president in Washington. I'm Nancy Lyons Bloomberg Radio. 0:04:20.080 --> 0:04:22.560 Thank you, Nancy. It was a volatile first day of 0:04:22.560 --> 0:04:26.719 trading for former Trump. Former president Donald Trump's social media startup, 0:04:26.880 --> 0:04:29.560 Trump Media and Technology Group gained sixteen percent in its 0:04:29.560 --> 0:04:32.240 first trading day as a public company, and surged as 0:04:32.320 --> 0:04:34.760 much as fifty nine percent at one point. The most 0:04:34.800 --> 0:04:37.680 high profile blank check deal in years added billions to 0:04:37.720 --> 0:04:40.800 Trump's fortune, at least on paper. Shares are up ten 0:04:40.880 --> 0:04:42.599 percent in early trading this morning. 0:04:43.080 --> 0:04:45.560 Well in the currency market, amy the yen has touched 0:04:45.600 --> 0:04:48.880 its lowest level versus the dollar since nineteen to ninety. 0:04:49.120 --> 0:04:52.160 Japan has stepped closer to currency intervention with its strongest 0:04:52.200 --> 0:04:55.359 warning yet. The country's finance minister ramped up his hints 0:04:55.360 --> 0:04:58.279 a possible action. Looking at the yen right now, it's 0:04:58.360 --> 0:05:00.560 little changed against the dollar in the end, at one 0:05:00.680 --> 0:05:02.120 fifty one point four to nine. 0:05:02.680 --> 0:05:06.080 In geopolitical news, Chinese President Xi Jinping has met with 0:05:06.200 --> 0:05:09.960 US business executives hoping to restore confidence in Beijing. Bloomberg 0:05:10.040 --> 0:05:13.279 Daybreak Asia anchor Brian Curtis as more from Hong. 0:05:13.200 --> 0:05:18.000 Kong shinwas as president. She met with representatives from US business, strategic, 0:05:18.080 --> 0:05:22.000 and academic communities. China's hoping to shore up confidence submit 0:05:22.040 --> 0:05:25.159 a slow down in foreign investment. Investment fell to a 0:05:25.240 --> 0:05:28.719 thirty year low last year. Tensions with the US have 0:05:28.839 --> 0:05:31.799 risen in recent weeks. China said it filed a complaint 0:05:31.880 --> 0:05:35.720 to the WTO over US EV subsidies, and the US 0:05:35.800 --> 0:05:40.040 and UK accused Chinese hackers of targeting politicians and companies. 0:05:40.680 --> 0:05:44.039 China is now ramping up outreach to foreign investors, hoping 0:05:44.040 --> 0:05:47.120 to kick start the slumping economy in Hong Kong. Brian 0:05:47.200 --> 0:05:48.400 Curtis Bloomberg. 0:05:48.040 --> 0:05:51.040 Radio, Hi, Brian, thank you now to a discussion on 0:05:51.080 --> 0:05:54.720 the broader economy with black Rock CEO Larry Fink. Fink 0:05:54.760 --> 0:05:58.240 talked about his annual letter yesterday with Bloomberg's David Weston, 0:05:58.600 --> 0:06:02.160 warning that the US is facing a looming retirement crisis 0:06:02.200 --> 0:06:04.880 and says a high level effort is needed to address it. 0:06:05.240 --> 0:06:09.240 Fink added that America's unsustainable debt servicing bill could lead 0:06:09.240 --> 0:06:10.720 to a period of stagnation. 0:06:11.320 --> 0:06:14.520 The cost of financing our deficits are going to erode 0:06:14.520 --> 0:06:19.039 more and more of our disposable income. As a country, 0:06:19.720 --> 0:06:23.039 and I do believe there we're getting to a point 0:06:23.120 --> 0:06:26.320 where our public debt is going to start up, crowding 0:06:26.320 --> 0:06:29.080 out private capital, and we're going to have structurally higher 0:06:29.120 --> 0:06:29.799 interest rates. 0:06:30.120 --> 0:06:33.000 Black Rock CEO Larry Fink added he's frightened by the 0:06:33.120 --> 0:06:36.600 US public debt situation, but says a US debt crisis 0:06:36.680 --> 0:06:40.000 is not inevitable. And you can catch our entire conversation 0:06:40.080 --> 0:06:44.320 with Larry Fink on the Bloomberg Talks podcast, available on Apple, Spotify, 0:06:44.720 --> 0:06:50.560 or anywhere you get your podcasts. And it's time now 0:06:50.680 --> 0:06:52.240 for a look at some of the other stories making 0:06:52.279 --> 0:06:54.200 news in New York and around the world. And for 0:06:54.240 --> 0:06:57.400 that we'rejoined by Bloomberg's Michael Barr. Michael, good Morning, Good. 0:06:57.160 --> 0:07:00.320 Morning, Karen is really. Prime Minister Benjamin at Yahoo's says 0:07:00.360 --> 0:07:05.159 his government will not accept Tamas's delusional conditions for a 0:07:05.200 --> 0:07:08.960 ceasefire in Gaza. The militant group has rejected the latest 0:07:08.960 --> 0:07:11.440 truce proposal because it wants an end to the war 0:07:11.840 --> 0:07:16.360 and Israel's full withdrawal from the Gaza strip. Natanyahu also 0:07:16.400 --> 0:07:20.400 rebuked a UN Security Council resolution calling for a ceasefire 0:07:20.440 --> 0:07:24.040 in Gaza. State Department spokesman Matthew Miller pushed back on 0:07:24.160 --> 0:07:28.520 claims that amasa's most recent rejection of a ceasefire framework 0:07:28.600 --> 0:07:32.600 agreement resulted from the US abstention vote in the UN. 0:07:32.960 --> 0:07:37.679 That response was prepared before the UN Security Council vote, 0:07:38.000 --> 0:07:38.760 not after it. 0:07:39.440 --> 0:07:44.520 Yesterday, Defense Secretary Lloyd Austin welcomed Israeli Defense Minister Joav 0:07:44.560 --> 0:07:47.880 Gallant to the Pentagon, where the two talked about US 0:07:47.960 --> 0:07:52.160 Israeli security cooperations and the ongoing efforts to bring humanitarian 0:07:52.200 --> 0:07:55.480 aid into Gaza. A vigil will be held tonight at 0:07:55.480 --> 0:07:59.640 Massapequa Park in the hometown for the NYPD officer who 0:07:59.760 --> 0:08:03.560 was shot and killed this week. Officer Jonathan Dillar, who 0:08:03.600 --> 0:08:06.680 was thirty one, was fatally shot during a traffic stop 0:08:06.720 --> 0:08:10.200 in Queens. Diller, who was with the force for three years, 0:08:10.240 --> 0:08:13.559 had a wife and a toddler's son. Diller and another 0:08:13.680 --> 0:08:16.320 officer approached a car that was parked illegally at a 0:08:16.320 --> 0:08:19.200 bus stop. Authority say one of the two men who 0:08:19.280 --> 0:08:22.440 were in the car, thirty four year old Guy Rivera, 0:08:22.720 --> 0:08:25.160 pulled out a gun and shot Diller in the torso. 0:08:25.720 --> 0:08:28.920 Official say Diller's partner then fired and shot Rivera in 0:08:28.960 --> 0:08:32.000 the back. New York Mayor Eric Adams says the city 0:08:32.320 --> 0:08:34.040 has a recidivism problem. 0:08:34.600 --> 0:08:41.520 These two individuals, one of the men had been arrested 0:08:41.679 --> 0:08:44.120 on a gun charge in April twenty twenty three. To 0:08:44.120 --> 0:08:49.280 the driver, he has more than twenty prize, the other 0:08:49.800 --> 0:08:52.280 as an equal amount of prize. 0:08:52.720 --> 0:08:55.160 Mayor Adams also says the city has to deal with 0:08:55.200 --> 0:08:59.080 mental health issues and random acts of violence. Today, New 0:08:59.200 --> 0:09:03.840 YORK'SA holds its final vote on acting what would be 0:09:04.000 --> 0:09:09.200 the US's first large scale congestion pricing system. The plan 0:09:09.280 --> 0:09:12.400 would charge most drivers a fee of at least fifteen 0:09:12.480 --> 0:09:15.800 dollars to drive south of sixtieth Street in Manhattan. The 0:09:15.840 --> 0:09:18.280 program is set to begin in June, but that could 0:09:18.400 --> 0:09:21.679 change depending on the outcome of lawsuits in New York 0:09:21.800 --> 0:09:25.400 and New Jersey. Supporters say you will reduce carbon emissions, 0:09:25.400 --> 0:09:29.880 speed up bus service and emergency response times, and raise 0:09:30.000 --> 0:09:35.319 funds for public transportation. Former NYC Traffic Commissioner Sam Schwartz 0:09:35.400 --> 0:09:36.360 is in favor of the plan. 0:09:36.800 --> 0:09:39.280 I know a number of cities are keeping their eye 0:09:39.320 --> 0:09:41.960 on New York. If you can get through all the 0:09:42.160 --> 0:09:47.760 log jams, all the bureaucracy, all the politics of New York, city. 0:09:47.800 --> 0:09:50.360 And you can get this done in New York, you 0:09:50.440 --> 0:09:51.600 could do it elsewhere. 0:09:51.960 --> 0:09:55.040 Critics say there should be a commitment to improve mass 0:09:55.080 --> 0:09:58.120 transit service. Global news twenty four hours a day and 0:09:58.240 --> 0:10:00.840 whenever you want it with the Bloomberg News. Now, Michael Barr, 0:10:01.000 --> 0:10:02.080 this is Bloomberg. 0:10:02.120 --> 0:10:03.640 Karen sor right, Michael, thank you. 0:10:08.440 --> 0:10:10.760 Time now for the Bloomberg Sports Update, brought to you 0:10:10.840 --> 0:10:14.360 by Tri State Audi. Here's John stash Hour, John, Good morning, 0:10:14.440 --> 0:10:15.280 Good morning Karen. 0:10:15.280 --> 0:10:17.840 Winding down the NHL regular season. The race is on 0:10:17.960 --> 0:10:21.040 for the President's Trophy home ice in the playoffs. Seven 0:10:21.120 --> 0:10:24.080 teams separated by just three points, and the team that 0:10:24.200 --> 0:10:26.600 right now is a top the league, the Rangers. They 0:10:26.600 --> 0:10:29.079 hosted the Flyers scoreless first period. Philly led two to 0:10:29.080 --> 0:10:31.240 one after two, and then seven goals were scored in 0:10:31.280 --> 0:10:34.320 the third. Rangers had three different leads. The game went 0:10:34.360 --> 0:10:35.079 to overtime. 0:10:35.640 --> 0:10:37.960 Fox tangles the blue line, leaves it. 0:10:38.000 --> 0:10:40.280 Back for tro check back to Fox, Fox rips a 0:10:40.400 --> 0:10:43.520 shot up score. 0:10:42.760 --> 0:10:47.480 Adam foxing overtime, and the Rangers won a wild game, 0:10:47.600 --> 0:10:50.400 six to five, one one hundred points. 0:10:50.640 --> 0:10:52.800 They clitch a playoff berth for the third. 0:10:52.600 --> 0:10:56.480 Consecutive Yearny ESPN Fox, scoring thirty six seconds into ot 0:10:56.679 --> 0:10:59.079 Deable's trying to make the playoffs. They won in Toronto's 0:10:59.080 --> 0:11:02.320 sixty three, took over first place in their division four 0:11:02.320 --> 0:11:04.480 to three win at Florida double overtime. In the NBA, 0:11:04.559 --> 0:11:07.600 the Lakers, playing without Lebron James, came from nineteen down 0:11:08.000 --> 0:11:11.040 and one in Milwaukee for Anthony Davis thirty four points 0:11:11.080 --> 0:11:14.240 twenty three rebounds. The Warriors won by twenty one at Miami. 0:11:14.640 --> 0:11:17.920 Dallas won by thirty six at Sacramento, fiftieth winn of 0:11:17.960 --> 0:11:21.000 the season for Oklahoma City Man. He felt Indiana State 0:11:20.960 --> 0:11:23.160 would have made the NCAA tournament settled for the niit 0:11:23.400 --> 0:11:27.040 now thirty one and six after a quarterfinal win over Cincinnati. 0:11:27.080 --> 0:11:30.360 Georgia won by two at Ohio State. Seaton Hall has 0:11:30.400 --> 0:11:34.360 its NIT quarterfinal game tonight at home against UNLV. Major 0:11:34.440 --> 0:11:37.520 rule changes to kickoffs in the NFL all look very different. 0:11:37.559 --> 0:11:39.280 The kicker will now stand in his own thirty five 0:11:39.360 --> 0:11:43.040 yard line. His ten teammates will be twenty five yards ahead. 0:11:43.080 --> 0:11:45.240 At least seven of the receiving players will be just 0:11:45.320 --> 0:11:47.839 five yards from them. It's an effort to make the 0:11:47.920 --> 0:11:49.840 kickoff again be part of the sport. Most of them 0:11:49.880 --> 0:11:53.160 had not been returned. Baseball starts tomorrow, and free agent 0:11:53.160 --> 0:11:56.000 pitcher Jordan Montgomery has finally found a job. He signed 0:11:56.000 --> 0:11:59.600 with Arizona. John Stanshedward Bloomberg Sports. 0:12:00.760 --> 0:12:04.880 Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, 0:12:05.000 --> 0:12:07.920 and around the world on Bloomberg dot Com and the 0:12:07.920 --> 0:12:11.800 Bloomberg Business app. This is Bloomberg Daybreak. 0:12:12.559 --> 0:12:15.040 And returning to our top story this morning, the key 0:12:15.080 --> 0:12:18.080 bridge in Baltimore, struck by a cargo ship, collapsed in 0:12:18.200 --> 0:12:21.880 just seconds yesterday. The consequences, though, will likely stretch out 0:12:21.920 --> 0:12:25.080 four weeks. We are joined now by Bloomberg's trade expert 0:12:25.160 --> 0:12:28.240 Brendan Murray. Brendan, thanks for taking the time with us. 0:12:28.280 --> 0:12:29.480 What is the latest now? 0:12:30.080 --> 0:12:30.320 Sure? 0:12:30.360 --> 0:12:34.280 So tragically, the officials locally have said that they're calling 0:12:34.280 --> 0:12:36.680 off the search and rescue for the six missing workers 0:12:36.920 --> 0:12:41.079 who are on the bridge filling potholes when the ship 0:12:41.320 --> 0:12:45.200 struck the bridge. So they're recovery, they're looking for they're 0:12:45.480 --> 0:12:48.160 recovering the victims at this stage. So a rather somber 0:12:48.240 --> 0:12:54.200 day starting here on Wednesday. In the meantime, all this 0:12:54.280 --> 0:12:55.960 cargo that was supposed to come in and out of 0:12:55.960 --> 0:12:59.120 Baltimore has to go somewhere else. So we're seeing ships 0:13:00.080 --> 0:13:04.880 diverting to ports in Virginia and North Carolina, South Carolina, Georgia, 0:13:05.480 --> 0:13:09.599 and New York. So all that cargo is going to 0:13:09.679 --> 0:13:12.280 be slower to get where it's going, and it will 0:13:12.320 --> 0:13:14.880 need truck or a train to pick it up in 0:13:14.920 --> 0:13:18.800 another location that it wasn't expecting. So expect a bit 0:13:18.800 --> 0:13:21.200 of a tangled mess in the weeks ahead. 0:13:21.600 --> 0:13:23.280 Let's get into that a little bit and talk about 0:13:23.320 --> 0:13:25.720 some of those ports you mentioned, South Carolina, Virginia, New 0:13:25.760 --> 0:13:28.240 Jersey and other ports. Are they going to be able 0:13:28.240 --> 0:13:30.440 to handle all of the extra traffic that they're about 0:13:30.480 --> 0:13:30.800 to get? 0:13:31.400 --> 0:13:33.560 From what they tell us, they're not running at full 0:13:33.559 --> 0:13:38.040 capacity right now. The US economy is fairly solid, but 0:13:38.120 --> 0:13:41.560 it's not gangbusters, so some of them tell us they're 0:13:41.600 --> 0:13:44.000 running it about seventy or eighty percent capacity. So yeah, 0:13:44.040 --> 0:13:47.120 they can handle this extra this extra cargo flowing in 0:13:47.160 --> 0:13:51.000 their direction, but it'll take They can't do it immediately, 0:13:51.040 --> 0:13:54.880 so it could we could see ships sitting outside these 0:13:54.920 --> 0:13:58.800 ports for a few days perhaps, and we'll see how 0:13:58.800 --> 0:14:01.800 they're able to orbit. The big issue is Baltimore is 0:14:01.840 --> 0:14:05.920 a big car port for imports and exports, and not 0:14:05.960 --> 0:14:09.160 every not every trade gateway along the Eastern Seaboard can 0:14:09.240 --> 0:14:11.840 handle cars. So we'll have to wait and see how 0:14:11.880 --> 0:14:16.960 the how the auto companies deal with these the disruptions 0:14:17.160 --> 0:14:18.200 to their supply chains. 0:14:18.600 --> 0:14:21.840 Right, they handle cars, construction equipment, farm equipment, and I 0:14:21.880 --> 0:14:24.800 wonder if that's where we might see the most impact, 0:14:24.840 --> 0:14:28.320 because it seems like there would be more isolated industries 0:14:28.320 --> 0:14:30.960 as opposed to industries as a whole. 0:14:31.360 --> 0:14:34.160 Yeah, it's not a lot of sort of consumer facing 0:14:34.600 --> 0:14:37.360 goods that flow through Baltimore. It's things that are kind 0:14:37.360 --> 0:14:39.600 of in the you know, go to the industrial heartland. 0:14:39.640 --> 0:14:44.040 Construction equipment, farm equipment, you know, and those kinds of things. 0:14:44.360 --> 0:14:47.000 You know, the spring construction season kind of heats up 0:14:47.080 --> 0:14:48.960 in a month or two, you know, will there be 0:14:49.040 --> 0:14:52.040 enough equipment, Will some of that equipment and the materials 0:14:52.080 --> 0:14:55.440 needed for home building and office construction be you know, 0:14:55.560 --> 0:14:58.000 be as readily available as it might might have been. 0:14:58.280 --> 0:15:00.840 Farmers are going to start, you know, planting crops in 0:15:00.880 --> 0:15:02.760 a few months. Are they going to have you know, 0:15:02.840 --> 0:15:07.160 the equipment that they need the new tractor or combine? 0:15:07.400 --> 0:15:10.880 You know that that would normally flow through Baltimore. So 0:15:10.520 --> 0:15:15.800 some we're not expecting a widespread economic headwind from this, 0:15:16.000 --> 0:15:18.600 but it could create some isolated headaches. 0:15:19.120 --> 0:15:22.040 And briefly, Brendan, it wasn't long ago we experienced the 0:15:22.160 --> 0:15:25.720 firsthand the fragile nature of the global supply chains, very 0:15:25.800 --> 0:15:28.200 briefly thirty seconds. How is this going to factor into that? 0:15:29.240 --> 0:15:31.920 Well, we're going to get another test of the resilience 0:15:32.000 --> 0:15:35.680 of supply chains along the East Coast. Basically, it will 0:15:35.760 --> 0:15:37.880 it will mean trucks. You know, there's going to be 0:15:37.920 --> 0:15:41.000 a lot of traffic around Baltimore for the foreseeable future. 0:15:41.480 --> 0:15:46.360 That highway, that beltway around Baltimore is now gone, so 0:15:46.440 --> 0:15:48.320 all that traffic is going to have to move somewhere else. 0:15:48.360 --> 0:15:50.920 So I think we're just going to have to see 0:15:50.960 --> 0:15:55.080 how the companies involved in logistics and supply chains can 0:15:55.840 --> 0:16:01.240 flex with this shock, and hopefully it the fallout won't 0:16:01.240 --> 0:16:03.000 be too widespread or too painful. 0:16:05.200 --> 0:16:08.480 You are listening to Bloomberg Daybreak today, your morning brief 0:16:08.480 --> 0:16:11.720 on the stories making news from Wall Street to Washington 0:16:11.840 --> 0:16:12.480 and beyond. 0:16:12.680 --> 0:16:15.480 Look for us on your podcast feed at six am 0:16:15.560 --> 0:16:19.200 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:19.280 --> 0:16:20.520 get your podcasts. 0:16:20.800 --> 0:16:24.080 You can also listen live each morning starting at five 0:16:24.120 --> 0:16:27.280 am Wall Street Time on Bloomberg eleven three to zero 0:16:27.320 --> 0:16:30.520 in New York, Bloomberg ninety nine to one in Washington, 0:16:30.880 --> 0:16:34.480 Bloomberg one oh sixty one in Boston, and Bloomberg nine 0:16:34.560 --> 0:16:36.240 sixty in San Francisco. 0:16:36.920 --> 0:16:40.080 Our flagship New York station is also available on your 0:16:40.120 --> 0:16:45.640 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:16:45.880 --> 0:16:49.280 Listen coast to coast on the Bloomberg Business app, Sirius 0:16:49.520 --> 0:16:54.800 Xmthiheartradio app, and on Bloomberg dot Com. I'm Amy Morris. 0:16:55.120 --> 0:16:58.280 And I'm Karen Moscow. Join us again tomorrow morning for 0:16:58.400 --> 0:17:00.920 all the news you need to start your day right 0:17:00.960 --> 0:17:02.600 here on Bloomberg Daybreak