Stocks Fall on Global Trade War Fears; Democrats to Block GOP Plan to Avert Shutdown

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. 0:00:15.360 --> 0:00:17.800 Karen, we begin with the latest developments in the global 0:00:17.880 --> 0:00:21.159 trade war. President Trump says the US will respond to 0:00:21.280 --> 0:00:23.840 retaliatory tariffs from the European Union. 0:00:24.239 --> 0:00:25.880 As heard on Bloomberg Radio. 0:00:25.920 --> 0:00:28.440 The President spoke in the Oval Office after the EU 0:00:28.480 --> 0:00:31.840 announced levies on industrial and agricultural goods worth up to 0:00:31.920 --> 0:00:33.440 twenty eight billion dollars. 0:00:34.080 --> 0:00:38.000 The European Union treats US very badly. They have for years. 0:00:38.240 --> 0:00:39.800 I saw that. I had it out with them in 0:00:39.800 --> 0:00:42.440 my first term, did well, but we had to solve 0:00:42.479 --> 0:00:47.760 other problems and we did. But European Union has been 0:00:47.880 --> 0:00:51.280 very tough. And it's our turn too, you know, we 0:00:51.360 --> 0:00:52.000 get a turn at that. 0:00:52.120 --> 0:00:55.960 Also, Canada also announced twenty five percent tariffs on nearly 0:00:56.000 --> 0:00:59.200 twenty one billion dollars worth of US made products. Stay 0:00:59.200 --> 0:01:01.680 with Bloomberg for full tariff coverage. We're going to be 0:01:01.680 --> 0:01:05.160 speaking with Commerce Secretary Howard Lutnik at eight am Wall 0:01:05.200 --> 0:01:09.000 Street Time on Bloomberg Radio, Bloomberg Television, and the Bloomberg 0:01:09.040 --> 0:01:10.880 Podcasts page on YouTube. 0:01:11.120 --> 0:01:11.600 On Nathan. 0:01:11.640 --> 0:01:14.679 Another major story where following the deadline is taking to 0:01:14.760 --> 0:01:19.080 a possible government shutdown. Senate Democratic leader Chuck Schumer says 0:01:19.400 --> 0:01:23.120 his party will block a Republican spending bill to averta shutdown, 0:01:23.120 --> 0:01:25.600 and Bloomberg Jamy Morris has the latest from Washington. 0:01:25.920 --> 0:01:29.240 Senator Schumer told his colleagues on the Senate floor, Republicans 0:01:29.360 --> 0:01:30.679 just don't have the votes they need. 0:01:30.880 --> 0:01:33.880 Republicans do not have the votes in the Senate to 0:01:34.000 --> 0:01:38.280 invoke cloture on the House cr. Our Caucus is unified 0:01:38.680 --> 0:01:42.240 on a clean April eleventh cr that will keep the 0:01:42.280 --> 0:01:46.320 government open and give Congress time to negotiate five parties 0:01:46.360 --> 0:01:48.040 in legislation that can. 0:01:47.960 --> 0:01:49.160 Pass in the Senate. 0:01:49.240 --> 0:01:52.440 Sixty votes are necessary to cut off procedural hurdles, and 0:01:52.520 --> 0:01:56.680 Republicans only have fifty three. This significantly raises the chances 0:01:56.720 --> 0:01:59.240 of a government shutdown at the end of this week. 0:02:00.000 --> 0:02:01.840 Shington Amy Moore as Bloomberg. 0:02:01.480 --> 0:02:03.760 Radio, Amy, thank you now to the latest on the 0:02:03.760 --> 0:02:07.120 war in Ukraine. President Trump's Middle East en voice, Steve Witkoff, 0:02:07.200 --> 0:02:09.640 is headed to Moscow this week to present a thirty 0:02:09.720 --> 0:02:13.600 day ceasefire proposal to Russian President Vladimir Putin, the US 0:02:13.720 --> 0:02:16.240 reached the deal with Ukraine and talks in Saudi Arabia. 0:02:16.360 --> 0:02:18.400 President Trump says he hopes Putin takes it. 0:02:18.720 --> 0:02:22.440 We have a full cease fire when if it kicks in, 0:02:22.520 --> 0:02:24.400 but we have to see. It's up to Russia now. 0:02:24.400 --> 0:02:27.800 And Bloomberg's Greg Sullivan reports Putin will probably agree to 0:02:27.840 --> 0:02:31.680 the truth eventually, but he'll want his own concessions made first. 0:02:31.960 --> 0:02:35.520 Longer term, he has made some significant concessions. One he 0:02:35.560 --> 0:02:38.800 doesn't want NATO peacekeepers in Ukraine as part of any 0:02:38.840 --> 0:02:42.440 sort of ceasefire deal. Two, he doesn't want Ukraine to 0:02:42.560 --> 0:02:46.320 join NATO. He wants territorial concessions starting with what he's 0:02:46.360 --> 0:02:49.120 made from the war gains, and he wants a smaller 0:02:49.200 --> 0:02:50.519 Ukrainian military. 0:02:50.480 --> 0:02:51.079 In the short term. 0:02:51.080 --> 0:02:54.040 Bloomberg's Greg Sullivan reports Putin might also demand a halt 0:02:54.080 --> 0:02:56.920 on weapons supplies to Ukraine. Ahead of his meeting with 0:02:56.919 --> 0:03:00.280 Steve Witkoff, Putin made an unexpected visit to the Kirk 0:03:00.360 --> 0:03:03.520 border region. Russia says it has pushed back Ukrainians for 0:03:03.600 --> 0:03:06.320 more than eighty six percent of the territory they sees 0:03:06.360 --> 0:03:09.320 they're in their surprise incursion last August. 0:03:09.440 --> 0:03:11.760 Well Nathan return to the markets. Now our futures are 0:03:11.800 --> 0:03:15.200 lower once again of our growth concerns and recession fears. 0:03:15.240 --> 0:03:17.840 Some strategists on Wall Street are cutting their forecasts for 0:03:17.960 --> 0:03:21.280 US stocks. Perennial Bull at Yard Danny has lowered his 0:03:21.360 --> 0:03:23.440 year end for the S and P five hundred to 0:03:23.480 --> 0:03:27.160 sixty four hundred from seven thousand. He said President Trump's 0:03:27.200 --> 0:03:30.679 tariffs have heightened the risk of stagflation. On the flip side, 0:03:30.680 --> 0:03:33.040 a JP Morgan Chase said the worst of the US 0:03:33.120 --> 0:03:36.400 equity correction may be over. The firm said credit markets 0:03:36.400 --> 0:03:40.280 are indicating a lower risk of a recession happening. David Sowerby, 0:03:40.440 --> 0:03:43.840 Managing director of Ancora, agrees. He says now is a 0:03:43.880 --> 0:03:44.760 buying opportunity. 0:03:45.240 --> 0:03:48.360 You can't call a market bottom, but when sentiment gets 0:03:48.520 --> 0:03:52.800 unduly bearish, and it's there now, if you look twelve 0:03:52.840 --> 0:03:56.240 months out, eleven out, or the last twelve times it's 0:03:56.280 --> 0:03:59.920 gotten this parish, the market's higher and the average return 0:04:00.240 --> 0:04:03.720 over the next twelve months is twenty percent. I don't 0:04:03.720 --> 0:04:05.640 know if it's going to be twenty percent, but I 0:04:05.800 --> 0:04:08.960 like those odds knowing and make my most money when 0:04:09.000 --> 0:04:12.560 I run against the herd and I'm a contrarian, which 0:04:12.600 --> 0:04:15.040 is more what you need to be today. 0:04:15.160 --> 0:04:18.039 And chorus David sower b. The SNP five hundred is 0:04:18.080 --> 0:04:21.359 trading about nine percent below is all time high, Karen. 0:04:21.400 --> 0:04:24.320 A change in the executive suite has shares of Intel 0:04:24.400 --> 0:04:25.600 trading higher. 0:04:25.320 --> 0:04:28.320 By ten percent. Let's get the very latest of Bloomberg's 0:04:28.360 --> 0:04:29.599 John Tucker, John. 0:04:29.440 --> 0:04:32.880 And Nathan lipp Boutan was named to the CEO job. 0:04:33.200 --> 0:04:36.560 Not exactly a household name, but he's a real solid 0:04:36.600 --> 0:04:40.520 reputation in the industry. Investors applaud his arrival despite the 0:04:40.600 --> 0:04:42.480 lack of a clear signal that he's going to take 0:04:42.520 --> 0:04:45.560 Intel in a new direction. In fact, his first message 0:04:45.560 --> 0:04:47.920 to employees is that he's going to keep working to 0:04:47.920 --> 0:04:51.560 make Intel a top foundry. That's a business that produces 0:04:51.640 --> 0:04:55.040 chips for outside clients. That endeavor has been costly for 0:04:55.120 --> 0:04:58.480 Intel so far and contributed to the ouster of the 0:04:58.520 --> 0:05:02.320 former CEO, Pat Gelsinger. The company lost nineteen point two 0:05:02.360 --> 0:05:05.520 billion dollars last year. Still an open question whether Tad 0:05:05.600 --> 0:05:08.040 might split up the foundery in the chip design business. 0:05:08.440 --> 0:05:11.479 Intel stock had rather last month on anticipation that the 0:05:11.520 --> 0:05:14.640 company would be broken up. Right now, the stock the 0:05:14.800 --> 0:05:18.440 most actively traded pre market again up just about ten percent. 0:05:18.760 --> 0:05:20.719 You know, York I' John Tucker, Bloomberg Radio. 0:05:21.040 --> 0:05:23.559 All right, John, thank you. Another tech news this morning. 0:05:23.600 --> 0:05:26.360 The Federal Trade Commission is moving ahead with an antitrust 0:05:26.400 --> 0:05:29.320 probe of Microsoft that was opened in the waning days 0:05:29.320 --> 0:05:33.160 of the Biden administration. We have more from Bloomberg's Justin Teres. 0:05:33.640 --> 0:05:35.880 I think this is very interesting here. It's kind of 0:05:35.880 --> 0:05:38.440 the first signs we're seeing of what this new FDC 0:05:39.120 --> 0:05:41.800 under the leadership of Andrew Ferguson is really going to do. 0:05:41.920 --> 0:05:43.800 And I think there's been a lot of discussion about 0:05:43.920 --> 0:05:46.279 will there be this forceful activity against big tech? 0:05:46.320 --> 0:05:47.000 Will there not be? 0:05:47.400 --> 0:05:49.640 And it seems like not really surprising. I think this 0:05:49.720 --> 0:05:51.760 is the first in Dishi we're seing that crusade, if 0:05:51.800 --> 0:05:54.640 you will, against big tech might be continuing in some ways. 0:05:55.080 --> 0:05:58.440 And Bloombergs Justin Treesi says the FTC send Microsoft a 0:05:58.560 --> 0:06:02.239 so called the Civil Investment togative demand. The document compels 0:06:02.279 --> 0:06:04.360 the company to turn over reams of data about its 0:06:04.400 --> 0:06:08.040 AI operations, including the cost to train models, and obtain 0:06:08.279 --> 0:06:10.640 data going as far back as twenty sixteen. 0:06:10.960 --> 0:06:15.279 In Europe, Karen Deutsche Banks rewarding its employees. Germany's largest 0:06:15.360 --> 0:06:18.000 lender increased its bonus pull to the largest amount in 0:06:18.040 --> 0:06:21.039 a decade following a surge in deals in trading. Last year, 0:06:21.240 --> 0:06:25.000 Deutsche awarded two point seven billion dollars in variable compensation 0:06:25.120 --> 0:06:27.000 to staff for their work in twenty twenty four. That 0:06:27.080 --> 0:06:30.200 is a twenty six percent increase from the year earlier. 0:06:30.560 --> 0:06:32.880 Well here in the US, Nathan, more than sixteen hundred 0:06:32.880 --> 0:06:36.000 financial firms and their subsidiaries have tapped the Federal Reserves 0:06:36.000 --> 0:06:39.760 Emergency lending program. It was created to support the industry 0:06:39.839 --> 0:06:43.400 during the regional banking turmoil two years ago. Meil Bank 0:06:43.520 --> 0:06:46.120 USA and First Republic Bank borrowed the most, with each 0:06:46.160 --> 0:06:48.320 taking out loans exceeding eight billion dollars. 0:06:48.600 --> 0:06:51.240 And finally, Karen two Nastra astronauts have been stuck in 0:06:51.240 --> 0:06:53.039 space for months. You're gonna have to wait a little 0:06:53.080 --> 0:06:56.520 longer to come home. A launch pad problem prompted SpaceX 0:06:56.920 --> 0:07:00.280 to delay a flight to the International Space Station Tray. 0:07:00.279 --> 0:07:00.479 Again. 0:07:00.520 --> 0:07:02.760 SpaceX ld on countdown one. 0:07:02.880 --> 0:07:05.479 At this time we are standing down from today to 0:07:05.600 --> 0:07:07.280 further address hydraulic relyse. 0:07:07.080 --> 0:07:09.520 Data that stand doown came less than an hour before 0:07:09.600 --> 0:07:13.320 scheduled launch with the crew already seated in the capsule. Now, 0:07:13.360 --> 0:07:16.320 the launch is expected to take place no earlier than 0:07:16.320 --> 0:07:16.960 tomorrow night. 0:07:17.120 --> 0:07:18.000 The new crew needs to. 0:07:17.920 --> 0:07:20.920 Get to the ISS before Butch Wilmore and Sonny Williams 0:07:20.920 --> 0:07:23.840 can head home after nine months in orbit. 0:07:27.400 --> 0:07:28.720 Time now for a look at some of the other 0:07:28.840 --> 0:07:31.000 stories making news in New York and around the world. 0:07:31.080 --> 0:07:33.560 And for that we're joined by Bloomberg's Michael Barr. Michael, 0:07:33.560 --> 0:07:34.320 Good Morning. 0:07:34.160 --> 0:07:37.240 Good morning, Karen. A government lawyer has asked a federal 0:07:37.360 --> 0:07:39.960 judge to move the legal fight over the detention of 0:07:40.080 --> 0:07:45.200 Columbia graduate student Mackmoud Khalil to either New Jersey or Louisiana. 0:07:45.600 --> 0:07:48.440 The request was made during a hearing in New York City. 0:07:48.720 --> 0:07:53.320 Khalil is an immigration detention facility in Louisiana, one thousand 0:07:53.360 --> 0:07:56.360 miles from New York. The Trump administration is trying to 0:07:56.400 --> 0:08:00.320 deport Khalil over his role in pro Palestinian pro tests 0:08:00.360 --> 0:08:03.400 at the Ivy League School last year. Khalil had a 0:08:03.440 --> 0:08:06.840 green card and a student visa that were both revoked 0:08:06.920 --> 0:08:10.040 last week. Borders Are Tom Homan talked about the case 0:08:10.080 --> 0:08:11.320 in Albody, New York. 0:08:11.360 --> 0:08:13.760 Covers of this country, either on a visa or becoming 0:08:13.800 --> 0:08:16.400 a resident Alan is a great privilege where there are 0:08:16.520 --> 0:08:17.760 rules associated with that. 0:08:18.480 --> 0:08:21.880 After his detention last weekend, Judge Jesse Furman in New 0:08:21.960 --> 0:08:25.200 York ordered that Khalil not be deported while the court 0:08:25.240 --> 0:08:29.120 considers his lawyer's legal challenge. The amount of fentindyl see 0:08:29.280 --> 0:08:32.800 that the US Mexico border fell dramatically since January to 0:08:32.880 --> 0:08:36.480 its lowest levels since December twenty twenty one. According to 0:08:36.720 --> 0:08:40.679 new US Customs and Border Protection data, about five hundred 0:08:40.679 --> 0:08:44.360 and ninety pounds of the deadly synthetic opioid were intercepted 0:08:44.400 --> 0:08:48.040 in February, down forty percent from January's nine hundred and 0:08:48.080 --> 0:08:51.960 ninety pounds. An atmospheric river is taking aim at California, 0:08:52.000 --> 0:08:55.120 bringing the risk of mud slides to burn scarred areas, 0:08:55.440 --> 0:08:58.320 but as the system moves east, it will bring the 0:08:58.360 --> 0:09:00.840 threat of snow to places like U k follow up 0:09:00.880 --> 0:09:04.120 by severe weather threats to the East Coast by the weekend. 0:09:04.320 --> 0:09:06.240 Bloomberg's Craig Allen has more. 0:09:06.240 --> 0:09:09.559 Michael this latest atmosphere griffery is packing such a wallap 0:09:09.600 --> 0:09:12.959 for the entire West coast, with flooding occurring from San 0:09:13.000 --> 0:09:15.960 Diego all the way on up the Pacific Coast Highway 0:09:16.120 --> 0:09:20.040 the five, right on up through Seattle. There is extreme 0:09:20.280 --> 0:09:23.120 amounts of snow and wind that are blowing across the 0:09:23.160 --> 0:09:26.160 Cascades as well as the Sierras, and the winter storm 0:09:26.280 --> 0:09:31.400 severity index is major to extreme in some portions of California, 0:09:31.520 --> 0:09:35.200 right on up into the mountain passes of Oregon and Washington. 0:09:35.200 --> 0:09:38.800 Bloomberg's Craig Allen. Finally, Manhattan apartment rants reached a record 0:09:38.880 --> 0:09:41.679 high in February, with a median of forty five hundred 0:09:41.720 --> 0:09:46.560 dollars according to appraiser Miller Samuel and brokerage Douglas Element. 0:09:47.160 --> 0:09:50.160 That's up six point four percent from last year. Global 0:09:50.200 --> 0:09:52.400 News twenty four hours a day and whatever you want 0:09:52.440 --> 0:09:54.720 it with Bloomberg News Now. I'm Michael Barr, and this 0:09:55.000 --> 0:09:56.000 is Bloomberg Karn. 0:09:56.120 --> 0:10:02.800 All right, Michael Barr, thank you time now for the 0:10:02.800 --> 0:10:06.360 Bloombery sports update, brought to you by Tri State Ountie. 0:10:06.360 --> 0:10:08.880 Here's John stash Hour, John, good morning, Good morning. 0:10:08.920 --> 0:10:11.200 Tearing. The day began with Michal Bridges telling The New 0:10:11.280 --> 0:10:14.080 York Post that perhaps Dicks coach Tom Thibodeau is playing 0:10:14.120 --> 0:10:17.640 his starters too much. Bridges leads the NBA in minutes played. 0:10:17.720 --> 0:10:19.679 He said it's not fun on the body. And then 0:10:19.679 --> 0:10:22.600 in Portland, he was on the floor for forty one 0:10:22.679 --> 0:10:24.920 minutes of a fifty three minute game. At the end 0:10:24.960 --> 0:10:29.319 of overtime, Bridges had the ball in his hands. 0:10:28.360 --> 0:10:31.679 Bridgers stating bout Nick Bright part gets it right back 0:10:31.720 --> 0:10:32.240 to Bridges. 0:10:32.360 --> 0:10:42.080 Bridges puts a contus and Mike Green with double bang 0:10:42.160 --> 0:10:44.840 on MSG. The next top the Blazers in a thriller, 0:10:44.960 --> 0:10:48.280 won fourteen one thirteen. Bridges scored thirty three points, So 0:10:48.360 --> 0:10:51.120 back to back road wins without the injured Jalen Brunson 0:10:51.480 --> 0:10:53.840 and the trip. In Saturday at Golden State in Boston, 0:10:53.880 --> 0:10:56.760 Oklahoma City beat the Celtics one eighteen to one twelve. 0:10:56.840 --> 0:11:00.600 American University headed to the NCAA Tournament easy win Navy 0:11:01.000 --> 0:11:03.400 and the Patriot League Final Big East underway at the 0:11:03.400 --> 0:11:04.320 Garden Seaton Hall. 0:11:04.360 --> 0:11:06.640 Season ended with a loss of Villanova. The Pirates had 0:11:06.679 --> 0:11:07.080 that big. 0:11:07.000 --> 0:11:09.840 Upset of Yukon, but they only won six other games. 0:11:09.840 --> 0:11:13.120 Saint John's has won twenty seven, eighteen and zero at home. 0:11:13.160 --> 0:11:15.120 In the red storm of a noon tip off today 0:11:15.120 --> 0:11:18.720 at MSG against Butler, season finale for Rutgers a Big 0:11:18.760 --> 0:11:22.400 Ten double overtime lost to usc Scarlett Knights were under 0:11:22.440 --> 0:11:26.319 five hundred despite having two freshmen, Ash Bailey and Dylan Harper, 0:11:26.600 --> 0:11:29.000 who are now expected to go forrow and be lottery picks. 0:11:29.040 --> 0:11:32.200 Fordham has lost twenty games, with the Rams upset Rhode 0:11:32.200 --> 0:11:33.960 Island to advance at the Atlantic. 0:11:33.520 --> 0:11:34.920 Ten Players Championship. 0:11:34.920 --> 0:11:37.400 Team off today at Sawgrass. The marquee threesome has the 0:11:37.400 --> 0:11:41.560 defending champs, Scottie Scheffler, playing with Rory McElroy and Xanderschoffley. 0:11:41.600 --> 0:11:43.199 Starting at one thirty at Indian. 0:11:42.960 --> 0:11:46.040 Wells Cocoa goff Out in the third round, upset by 0:11:46.040 --> 0:11:49.559 Belinda Bensiz. The Giant search for a quarterback as them 0:11:49.559 --> 0:11:52.320 getting a visit tomorrow from thirty six year old free 0:11:52.320 --> 0:11:52.960 agent QB. 0:11:53.440 --> 0:11:57.199 Russell Wilson, John Stashedward. Bloomberg Sports Karenatha. 0:11:59.360 --> 0:12:04.320 Costs on Bloomberg Radio, nationwide on Sirius XM, and around 0:12:04.320 --> 0:12:07.800 the world on Bloomberg dot Com and The Bloomberg Business Apple. 0:12:08.040 --> 0:12:09.640 This is Bloomberg Daybreak. 0:12:09.880 --> 0:12:11.320 Good morning, I'm Nathan Hager. 0:12:11.360 --> 0:12:14.240 There may be more worries about an escalating trade war 0:12:14.480 --> 0:12:17.440 moving through markets. President Trump says he will respond to 0:12:17.520 --> 0:12:21.000 the European Union's countermeasures against twenty five percent steel and 0:12:21.080 --> 0:12:24.560 aluminum tariffs, and the President is repeating his long standing 0:12:24.600 --> 0:12:26.199 criticisms of the block. 0:12:26.320 --> 0:12:29.600 EEU were set up in order to take advantage of 0:12:29.640 --> 0:12:30.520 the United. 0:12:30.200 --> 0:12:33.880 States, including Arland. Is Ireland taking advantage of the US. 0:12:33.920 --> 0:12:34.760 Of course they are. 0:12:35.120 --> 0:12:37.640 President Trump said that in the Oval Office, with Irish 0:12:37.640 --> 0:12:40.679 Prime Minister Michael Martin sitting right next to him in 0:12:40.840 --> 0:12:41.960 Washington for St. 0:12:42.000 --> 0:12:44.920 Patrick's Day festivities. Joining us now. 0:12:45.080 --> 0:12:49.280 Bloomberg News Senior editor Bill Ferries, Bill, good morning, what 0:12:49.480 --> 0:12:51.000 could the response look like? 0:12:52.320 --> 0:12:55.640 Good morning, Nathan. Well, we already heard from the EU 0:12:55.720 --> 0:13:02.240 president about a potential twenty six billion euro response to 0:13:02.360 --> 0:13:05.880 this latest round of tariffs. And the EU is talking 0:13:05.920 --> 0:13:09.200 about things like soybeans from the American South. And we 0:13:09.280 --> 0:13:13.280 know from their previous tariffs during the first Trump administration 0:13:13.400 --> 0:13:16.800 that they like to look at very iconic American products 0:13:16.800 --> 0:13:21.840 and that's included in the past Harley Davidson motorcycles, Kentucky bourbon, 0:13:22.000 --> 0:13:24.600 things like that. But they're talking about a figure that 0:13:24.640 --> 0:13:27.800 they say is in line with the price that europe 0:13:27.840 --> 0:13:31.000 is being asked to pay here about twenty six billion 0:13:31.040 --> 0:13:35.960 euros and that's just the latest of these skirmishes. Of course, 0:13:36.200 --> 0:13:38.400 the big date on all of our calendars now is 0:13:38.440 --> 0:13:41.959 April second, and that's when President Trump said he wants 0:13:42.200 --> 0:13:46.480 reciprocal tariffs to come in for all countries that put 0:13:46.520 --> 0:13:48.000 tariffs on US products. 0:13:48.880 --> 0:13:51.520 And with that April second date now just a few 0:13:51.520 --> 0:13:54.840 weeks away. While we've seen this response from Europe, other 0:13:54.960 --> 0:14:01.640 countries like China have yet to respond. What could negotiations 0:14:01.800 --> 0:14:04.040 look like with some of the rest of the world. 0:14:04.880 --> 0:14:07.240 Well, you know, you saw this flurry of attempts in 0:14:07.320 --> 0:14:10.679 the last week or so by some countries, particularly Australia, 0:14:10.800 --> 0:14:13.520 to try to get carve outs. And if you remember 0:14:13.559 --> 0:14:16.280 from Trump's first term, that was something he granted to 0:14:16.320 --> 0:14:20.360 a number of nations, including Australia, including Brazil. He hasn't 0:14:20.400 --> 0:14:23.280 really issued anything like that this time around. I think 0:14:23.360 --> 0:14:26.080 some countries are still in a wait and see mode 0:14:26.120 --> 0:14:28.240 and hoping that maybe they can strike some sort of 0:14:28.280 --> 0:14:30.840 a deal or that they can make some promises of 0:14:30.880 --> 0:14:34.400 investment that might end up getting them getting them spared. 0:14:34.760 --> 0:14:36.560 But so far, I've got to say that, you know, 0:14:36.920 --> 0:14:40.200 with a couple exceptions, the Trump administration has largely gone 0:14:40.240 --> 0:14:43.400 forward with what it's threatened on tariffs. 0:14:44.040 --> 0:14:47.680 You mentioned April second is the date on everybody's calendars. 0:14:47.800 --> 0:14:51.520 I wonder if we're starting to circle tomorrow night on 0:14:51.560 --> 0:14:56.400 our calendars as well. With a government shut down deadline looming. 0:14:56.760 --> 0:14:59.680 We sure seem a lot closer to it now after 0:14:59.720 --> 0:15:04.240 Chuck Schumer said that Democrats would not support Republicans in 0:15:04.320 --> 0:15:07.680 getting to that sixty vote threshold. They need to pass 0:15:07.760 --> 0:15:10.960 that continuing resolution that came over from the House. Now, 0:15:11.080 --> 0:15:14.160 you've been through a lot of these last minute negotiations. 0:15:14.200 --> 0:15:17.800 There's still at least another let's say, thirty six forty 0:15:17.840 --> 0:15:20.320 eight hours of talks ahead of us, and that's often 0:15:20.360 --> 0:15:23.560 when things get done. And there are some Democrats like 0:15:23.640 --> 0:15:28.200 John Fetterman who don't want to vote against this continuing resolution. 0:15:28.640 --> 0:15:31.240 So it's not clear if all the Democrats are in line, 0:15:31.520 --> 0:15:34.480 but certainly the risk of a government shut down amid 0:15:34.560 --> 0:15:38.800 all of all this other turbulence for federal workers, that 0:15:38.920 --> 0:15:39.760 risk is rising. 0:15:40.160 --> 0:15:43.560 Well, if we don't get this House passed bill through 0:15:43.600 --> 0:15:47.120 the Senate, what's the alternative that Democrats are putting up? 0:15:47.160 --> 0:15:48.560 Got about thirty seconds left. 0:15:48.680 --> 0:15:50.840 There's not a lot of Plan B here, but the 0:15:50.880 --> 0:15:55.400 Democrats have put forward, basically a one month spending bill 0:15:55.440 --> 0:15:59.160 that would would keep things open for talks. But remember, 0:15:59.200 --> 0:16:01.120 if you know they if that doesn't go through and 0:16:01.160 --> 0:16:03.040 the other one doesn't go through, the House is already 0:16:03.040 --> 0:16:05.880 on recess, it's hard to call them back. It's hard 0:16:05.880 --> 0:16:08.040 to see how you avoid a shutdown at that point. 0:16:08.200 --> 0:16:11.600 This is Bloomberg Daybreak, your morning podcast on the stories 0:16:11.680 --> 0:16:14.720 making news from Wall Street to Washington and beyond. 0:16:15.000 --> 0:16:17.360 Look for us on your podcast feed by six am 0:16:17.400 --> 0:16:20.800 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:21.040 --> 0:16:23.880 You can also listen live each morning starting at five 0:16:23.920 --> 0:16:26.640 am Wall Street time on Bloomberg eleven three to zero 0:16:26.640 --> 0:16:29.520 in New York, Bloomberg ninety nine to one in Washington, 0:16:29.600 --> 0:16:32.920 Bloomberg ninety two to nine in Boston, and nationwide on 0:16:33.080 --> 0:16:35.440 serious XM Channel one twenty one. 0:16:35.720 --> 0:16:38.440 Plus listen coast to coast on the Bloomberg Business app 0:16:38.480 --> 0:16:41.280 now with Apple CarPlay and Android Atuto interfaces. 0:16:41.520 --> 0:16:44.520 And don't forget to subscribe to Bloomberg News Now. 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