Trump Tariff Global Reaction; Trump Backs Away from Criticizing Putin

Bloomberg Audio Studios, podcasts, Radio news. 0:00:10.000 --> 0:00:13.160 Good morning, I'm Nathan Hager and I'm Karen Moscow. Here 0:00:13.200 --> 0:00:15.360 are the stories we're following today here. 0:00:15.240 --> 0:00:17.480 And we begin with a tariff announcement that is now 0:00:17.600 --> 0:00:20.919 just one day away. For weeks, President Trump has touted 0:00:20.920 --> 0:00:23.680 April second as a liberation day for the country. 0:00:23.920 --> 0:00:24.120 Now. 0:00:24.200 --> 0:00:27.160 White House Press Secretary Caroline Levitt says the President will 0:00:27.240 --> 0:00:29.080 usher it in with an event of the White House 0:00:29.200 --> 0:00:30.800 Rose Garden tomorrow afternoon. 0:00:31.440 --> 0:00:35.160 President will be announcing a tariff plan that will roll 0:00:35.200 --> 0:00:37.800 back the unfair trade practices that have been ripping off 0:00:37.800 --> 0:00:39.880 our country for decades. He's doing this in the best 0:00:39.920 --> 0:00:41.560 interest of the American worker. 0:00:41.720 --> 0:00:44.239 White House spokeswoman Caroline Levitt says the tariffs will be 0:00:44.280 --> 0:00:47.120 country based, and while President Trump is also committed to 0:00:47.159 --> 0:00:50.240 imposing sector based duties, she says those won't be part 0:00:50.240 --> 0:00:52.920 of tomorrow's event. Levitt also is not saying how high 0:00:52.920 --> 0:00:55.040 the tariffs will be or which countries will be hit, 0:00:55.080 --> 0:00:57.720 but she says there won't be exemptions at this time. 0:00:58.080 --> 0:01:00.640 Treasury Secretary Scott bess And told Fox News that the 0:01:00.680 --> 0:01:03.320 tariff announcement will be held tomorrow at three pm. Wall 0:01:03.360 --> 0:01:06.080 Street time, and we will have complete coverage on Bloomberg 0:01:06.160 --> 0:01:09.760 Radio and television and on the Bloomberg Podcasts page on YouTube. 0:01:10.040 --> 0:01:12.200 Well, Nathan, about the world awaits the extent of the 0:01:12.240 --> 0:01:16.040 White House's tariffs reaction is pouring in around the world. 0:01:16.120 --> 0:01:20.920 European Commissioned President Ursula Vonderlions spoke earlier this morning in France. 0:01:21.560 --> 0:01:27.039 So many Europeans feel utterly disheartened by the announcement from 0:01:27.080 --> 0:01:31.560 the United States. Let me be clear, Europe did not 0:01:31.800 --> 0:01:36.520 start this confrontation. We think it is wrong. But my 0:01:36.680 --> 0:01:40.800 message to you today is that we have everything we 0:01:40.920 --> 0:01:44.040 need to protect our people and our prosperity. 0:01:44.520 --> 0:01:47.920 And European Commissioned President Ursula Vonderlon says the EU is 0:01:48.000 --> 0:01:51.800 considering a range of retaliatory options, including using its anti 0:01:51.800 --> 0:01:56.680 coercion instrument to restrict trade and services and intellectual property rights. 0:01:56.840 --> 0:01:59.440 Along with the push for tariffs, Karen, President Trump is 0:01:59.480 --> 0:02:02.920 also pushed for a ceasefire in Ukraine, and to that end, 0:02:03.000 --> 0:02:06.760 he is dialing back criticism of Vladimir Putin. That's after 0:02:06.800 --> 0:02:09.280 Trump told NBC News over the weekend he might impose 0:02:09.360 --> 0:02:12.400 secondary tariffs on Russian oil if Putin slow walks a 0:02:12.440 --> 0:02:15.080 ceasefire deal with Ukraine. I want to make sure that 0:02:15.160 --> 0:02:18.120 he follows through, and I think he will. 0:02:18.160 --> 0:02:20.320 I don't want to go secondary tariffs, so is oil. 0:02:20.400 --> 0:02:22.880 But I think you know it's something I would do 0:02:22.960 --> 0:02:24.600 if I thought he wasn't doing the job. 0:02:24.800 --> 0:02:27.560 An Oval Office remarks heard here on Bloomberg. The President 0:02:27.600 --> 0:02:31.120 accused Ukrainian President Vladimir Zelenski of trying to change the 0:02:31.280 --> 0:02:33.200 terms of a minerals deal with the US. 0:02:33.360 --> 0:02:35.400 I haven't spoken to them yet, but through you I 0:02:35.480 --> 0:02:38.400 heard that then now saying well, I'll only do that 0:02:38.440 --> 0:02:40.920 deal if we get into NATO or something. 0:02:40.560 --> 0:02:41.320 To that effect. 0:02:41.720 --> 0:02:44.639 President Trump says NATO membership was never discussed in Russia. 0:02:44.639 --> 0:02:48.120 Would never accept it. Ukraine's top diplomat says officials are 0:02:48.200 --> 0:02:51.400 pressing ahead with the US for an acceptable economic accord. 0:02:51.720 --> 0:02:54.000 Ukraine is concerned that the current deal would undermine its 0:02:54.000 --> 0:02:55.720 bid to join the European Union. 0:02:56.480 --> 0:02:58.359 Well, Nathan back here in the US a couple of 0:02:58.440 --> 0:03:01.960 key elections today. Voters in Wisconsin will decide the balance 0:03:02.040 --> 0:03:05.120 in the state Supreme Court, and Bloomberg's Amy Morris has 0:03:05.160 --> 0:03:06.280 more from Washington. 0:03:06.639 --> 0:03:08.600 There's a lot riding on this race. He can help 0:03:08.600 --> 0:03:11.239 determine control of the state's High Court that could impact 0:03:11.320 --> 0:03:14.680 rulings on abortion, riots, congressional maps, and shake up control 0:03:14.680 --> 0:03:17.800 of Congress. It's officially a non partisan contest, but the 0:03:17.840 --> 0:03:21.360 Brennan Center for Justice reports about eighty one million dollars 0:03:21.360 --> 0:03:24.880 from both Republicans and Democrats have been poured into this race, 0:03:24.919 --> 0:03:27.720 including from Elon Musk, who gave more than twenty million 0:03:27.760 --> 0:03:30.680 dollars to the contest to back conservative Brad Shimmel. He 0:03:30.720 --> 0:03:33.240 also gave million dollar checks to two voters, a move 0:03:33.360 --> 0:03:38.160 Democrats challenged as illegally buying votes Amy Morris, Bloomberg Radio. 0:03:38.080 --> 0:03:40.400 Amy Thank You. Along with that race in Wisconsin, two 0:03:40.520 --> 0:03:43.440 special elections are being held in Florida today to fill 0:03:43.440 --> 0:03:46.120 the House seats left open by Republicans Matt Gates and 0:03:46.160 --> 0:03:50.040 Mike Waltz. Republican Jimmy Patronis and Democrat Gave Valomont a 0:03:50.120 --> 0:03:53.120 running to replace Gates in the first congressional district. Patronis 0:03:53.200 --> 0:03:56.800 received President Trump's endorsement in a crowded ten candidate primary. 0:03:57.000 --> 0:03:59.920 Valamont is a gun control activist who lost to Gates 0:03:59.880 --> 0:04:03.680 in November and in Mike Waltza's sixth district Republican state 0:04:03.760 --> 0:04:07.120 Senator Randy Fine is running against Democratic school teacher Josh 0:04:07.120 --> 0:04:10.640 wil President Trump won both these districts in twenty twenty 0:04:10.640 --> 0:04:13.160 four with about two thirds of the vote. 0:04:13.320 --> 0:04:16.400 Well Nathan, Bloomberg News has learned the US Chips Act 0:04:16.480 --> 0:04:18.839 is in limbo this morning, and we get the latest 0:04:18.839 --> 0:04:21.400 with Bloomberg's John Tucker. John, good morning and. 0:04:21.480 --> 0:04:24.919 Good morning, Karen. Sources tell US Commerce Secretary Howard Lutnik 0:04:25.160 --> 0:04:29.640 could withhold the already promised chipsack grants. He wants firms 0:04:29.640 --> 0:04:32.200 that won awards for the twenty twenty two Chips on 0:04:32.279 --> 0:04:36.599 Science Act to follow the example of Toddland's Semiconductive Manufacturing, 0:04:36.720 --> 0:04:40.040 which recently announced it's going to invest another one hundred 0:04:40.040 --> 0:04:43.799 billion dollars in US plants. At the same time, Lutnick 0:04:43.839 --> 0:04:47.320 has expressed interest in expanding a separate twenty five percent 0:04:47.360 --> 0:04:50.400 tax credit, although that would require an Act of Congress. 0:04:50.800 --> 0:04:53.240 President Trump, who is called on Congress to repeal the 0:04:53.279 --> 0:04:56.800 Chips Law, signs an executive voter yesterday, focused in part 0:04:56.800 --> 0:05:00.360 on what he says is negotiating much better chip sack 0:05:00.480 --> 0:05:04.000 deals than the previous administration. You know, York, Come, John 0:05:04.000 --> 0:05:05.080 Tucker Bloomberg Radio. 0:05:05.279 --> 0:05:08.239 Thanks John, let's turn to markets now. Futures are mixed 0:05:08.320 --> 0:05:10.800 as we kick off the new quarter. It was not 0:05:10.880 --> 0:05:13.960 a good start to the year for investors. The Nasdaq 0:05:14.000 --> 0:05:17.080 one hundred plunged eight point three percent for its worst 0:05:17.160 --> 0:05:20.479 quarter in nearly three years. Brian Belski is chief investment 0:05:20.520 --> 0:05:22.640 strategistic BEMO Capital Markets. 0:05:22.920 --> 0:05:26.360 We don't know exactly when this is going to stop 0:05:26.520 --> 0:05:28.680 or change, and it all could change to the positive 0:05:28.720 --> 0:05:31.080 as well. What we know is the markets have corrected 0:05:31.080 --> 0:05:33.320 more than ten percent, so we are in correction zone. 0:05:33.400 --> 0:05:34.120 That's what we know. 0:05:34.720 --> 0:05:37.599 We also know that this is the fastest correction that 0:05:37.600 --> 0:05:41.240 we've seen in multiple decades, if not ever, especially since 0:05:41.320 --> 0:05:43.839 nineteen ninety. But at the end of the day, I 0:05:43.880 --> 0:05:46.200 do believe that America has the best companies in the world, 0:05:46.279 --> 0:05:48.040 and this is the time where you want to start 0:05:48.040 --> 0:05:51.880 a shopping list because we're seeing some some quite exacerbated 0:05:51.920 --> 0:05:52.880 moves to the downside. 0:05:53.320 --> 0:05:56.080 BEMO Capital Markets, Brian Belski. They're taking a look at 0:05:56.080 --> 0:05:59.039 some high tech stocks. Chip Maker and Videos seen its 0:05:59.080 --> 0:06:02.440 shares tumbled twenty eight percent from their January peak. Broad 0:06:02.480 --> 0:06:07.000 Calms down thirty three percent from a record in December, Microsoft, Amazon, 0:06:07.080 --> 0:06:10.479 Alphabet and Meta platforms have all fallen twenty percent or 0:06:10.480 --> 0:06:12.120 more from their own records. 0:06:12.480 --> 0:06:15.400 Well. In Europe, Nathan Marine la Penn is criticizing a 0:06:15.480 --> 0:06:18.520 court ruling barring her from running for elected office for 0:06:18.600 --> 0:06:21.800 five years, ruling out a twenty twenty seven presidential run. 0:06:22.200 --> 0:06:25.400 The French far right leader, who was convicted of Embezzlman 0:06:25.520 --> 0:06:28.719 claimed the decision was politically motivated in an interview with 0:06:29.040 --> 0:06:30.920 French station TF one. 0:06:31.960 --> 0:06:35.719 Members, millions of French people who are outraged, outraged to 0:06:35.760 --> 0:06:39.640 an unimaginable point seeing this in France, in the country 0:06:39.680 --> 0:06:43.080 of human rights, judges have put in place practices that 0:06:43.120 --> 0:06:47.680 one would think are reserved for authoritarian regimeis. 0:06:47.120 --> 0:06:49.600 Marine La Penn, speaking there through an interpreter, has been 0:06:49.640 --> 0:06:52.599 a top contender for the presidency in recent polls. In 0:06:52.640 --> 0:06:56.000 addition to the five year electoral ban, she was sentenced 0:06:56.040 --> 0:06:58.839 to two years in prison, with two more suspended. 0:06:59.120 --> 0:07:03.240 And Karen Elon's SpaceX has launched the first human spaceflight 0:07:03.320 --> 0:07:06.840 mission over the Earth's polar regions. It is funded and 0:07:06.920 --> 0:07:10.000 commanded by crypto investor Chun Wang. 0:07:10.160 --> 0:07:15.960 For three two one technician lest. 0:07:19.160 --> 0:07:21.520 This mission is called FRAM two It's named after a 0:07:21.560 --> 0:07:24.960 Norwegian polar expedition ship that operated in the late eighteen 0:07:25.000 --> 0:07:28.360 hundreds and early nineteen hundreds. This mission took off on 0:07:28.400 --> 0:07:31.680 a Falcon nine rocket carrying a crew of four private astronauts. 0:07:31.880 --> 0:07:33.960 Over three to five days, they will fly over and 0:07:34.040 --> 0:07:37.680 observe Earth's North and South poles and conduct research on 0:07:37.760 --> 0:07:40.360 the impact of spaceflight on human health. 0:07:43.800 --> 0:07:45.360 It is time now for a look at some of 0:07:45.360 --> 0:07:47.720 the other stories making news in New York and around 0:07:47.760 --> 0:07:50.080 the world, and for that we're joined by Bloomber's Michael 0:07:50.120 --> 0:07:51.520 bar Michael, good morning. 0:07:51.360 --> 0:07:54.200 Good morning Karen. In Thailand, it is a race against 0:07:54.280 --> 0:07:57.200 time to say victims of Friday seven point seven earthquake 0:07:57.240 --> 0:07:59.960 in Southeast Asia, the death told in me and Mars 0:08:00.120 --> 0:08:03.720 past two thousand relief workers say there is an urgent 0:08:03.880 --> 0:08:06.680 need for food and clean water as the country is 0:08:06.720 --> 0:08:09.440 in the middle of a civil war. Mohammed Rias is 0:08:09.480 --> 0:08:12.360 the director for the International Rescue Committee. 0:08:12.560 --> 0:08:16.200 This country already has about nineteen million people in humanitarian 0:08:16.280 --> 0:08:19.400 needed about another three point five million people displaced from 0:08:19.440 --> 0:08:23.840 the conflict, so this earthquake has added more numbers to that. 0:08:24.480 --> 0:08:27.680 Already people in people in humanity. 0:08:27.280 --> 0:08:30.920 And need relief efforts are also hampered by power outages. 0:08:31.480 --> 0:08:34.480 The Trump administration emits in a court filing it deported 0:08:34.480 --> 0:08:38.360 a Maryland father who had protected status, and there's nothing 0:08:38.400 --> 0:08:40.720 the courts can do to bring it back. The government 0:08:40.800 --> 0:08:44.560 says ice was aware. Kilmar Abrego Garcia, a native of 0:08:44.640 --> 0:08:48.280 El Salvador, was protected, but he was deported to a 0:08:48.480 --> 0:08:53.320 Salvadorian mega prison because of an administrative error. Loyola Law 0:08:53.320 --> 0:08:56.760 School professor Jessica Levinson says this is a nightmare scenario. 0:08:57.360 --> 0:09:01.200 The government has said to the judge, basically, you have 0:09:01.320 --> 0:09:05.480 no power here, you have no jurisdiction, and you shouldn't act. 0:09:06.200 --> 0:09:09.400 The question, of course, is what if anything, the Trump 0:09:09.400 --> 0:09:12.720 administration on its own, will do to remedy this problem. 0:09:12.880 --> 0:09:16.400 First reported in The Atlantic, Garcia was protected from deportation 0:09:16.520 --> 0:09:20.080 because a judge determined gangs in El Salvador would likely 0:09:20.120 --> 0:09:22.360 attempt to cause him harm if he was sent back. 0:09:22.800 --> 0:09:25.360 Harvard University has become the latest target and the Trump 0:09:25.400 --> 0:09:30.079 administration's approach to fight campus anti semitism. The federal government 0:09:30.120 --> 0:09:32.880 is reviewing billions of dollars in grants and contracts with 0:09:32.960 --> 0:09:36.280 the Ivy League college, saying it will ensure the school 0:09:36.360 --> 0:09:40.360 is following civil rights laws. President Trump signed and executive 0:09:40.440 --> 0:09:44.160 ordered targeting ticket scalping. The order directs the FTC and 0:09:44.200 --> 0:09:48.000 other agencies to ensure competition laws are enforced to prevent 0:09:48.040 --> 0:09:52.200 ticket resellers from gouging consumers. Musician Kid Rock joined President 0:09:52.280 --> 0:09:53.840 Trump in the Oval Office for the signing. 0:09:54.200 --> 0:09:56.360 They've tried this in some places in Europe and seems 0:09:56.360 --> 0:09:58.839 to be doing anything that's us as hard to be 0:09:58.880 --> 0:10:01.120 able to get the tickets hands of the fans at 0:10:01.120 --> 0:10:01.640 the prices. 0:10:01.679 --> 0:10:04.200 We set Global news twenty four hours a day and 0:10:04.280 --> 0:10:06.280 whenever you want it with the Bloomberg News. Now, I'm 0:10:06.320 --> 0:10:08.080 Michael Barr. This is Bloomberg Herrott. 0:10:08.160 --> 0:10:14.760 All right, Michael Barr, thank you time now for the 0:10:14.760 --> 0:10:18.200 Bloombergy sports update, and we bring in John stash Hour. John, 0:10:18.240 --> 0:10:19.559 good morning, Good morning, Garrett. 0:10:19.559 --> 0:10:22.080 The Mets bats were quiet in Houston. They's got only 0:10:22.160 --> 0:10:24.840 five runs in three games. Those bats came alive last 0:10:24.920 --> 0:10:26.520 night in Miami again. 0:10:26.600 --> 0:10:30.160 The three to two hit the air deep white center 0:10:30.280 --> 0:10:34.400 back toward the cap wires near the wall's heir. 0:10:35.520 --> 0:10:37.560 He Alonso frid. 0:10:37.400 --> 0:10:42.000 Slam first tot word of the air for Alonso is 0:10:42.080 --> 0:10:45.840 fourth career Grand Slam. That's six to one. New York 0:10:46.040 --> 0:10:47.959 said one of the call the Alonzo Slam part of 0:10:48.000 --> 0:10:50.319 a seven run fifth and in one of four Mets 0:10:50.320 --> 0:10:52.240 home runs. They beat the Marlins ten to four. The 0:10:52.320 --> 0:10:54.600 Dodgers beat the Brave six to one. LA is six 0:10:54.679 --> 0:10:56.559 and oh. Atlanta is zero and five and one of 0:10:56.600 --> 0:10:59.920 the off season pickups Jerks and Profar was just suspend 0:11:00.120 --> 0:11:02.640 for eighty game for a ped violation. The first ever 0:11:02.679 --> 0:11:06.080 big League game in Sacramento and the cub blast of 0:11:06.080 --> 0:11:09.240 the A's eighteen to three, Carson Kelly hit for the cycle, 0:11:09.280 --> 0:11:11.080 the first ever do that in March. It's the most 0:11:11.160 --> 0:11:14.040 runs allowed in a home opener since nineteen twenty five. 0:11:14.120 --> 0:11:17.360 The Yukon women off to another Final four, twenty fourth 0:11:17.400 --> 0:11:20.119 in school history. They've gone to sixteen to the last seventeen, 0:11:20.480 --> 0:11:24.200 certainly held by USC not having its injured star Juju Watkins. 0:11:24.200 --> 0:11:27.240 The Huskies beat the Trojans seventy eight sixty four. The 0:11:27.320 --> 0:11:31.439 Yukon star Babe Beckers scored thirty one. Texas v TCU 0:11:31.559 --> 0:11:33.800 fifty eight to forty seven, first Final four for the 0:11:33.800 --> 0:11:36.559 Long Warns since two thousand and three. Celtics finished off 0:11:36.559 --> 0:11:39.480 their first ever six and zero road trip one seventeen 0:11:39.480 --> 0:11:41.800 one oh three in Memphis the Nets one in Dallas 0:11:41.920 --> 0:11:43.880 one thirteen to one O nine fortieth win for the 0:11:43.880 --> 0:11:46.720 Devils three two in a shootout over Minnesota. Stanford has 0:11:46.840 --> 0:11:49.880 named former NFL coach Frank Reich as its coach only 0:11:50.200 --> 0:11:53.000 for next season. John Dasheward bloombergs Ford, Karen. 0:11:52.840 --> 0:11:59.640 Nithy Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:59.800 --> 0:12:02.680 and around the world on Bloomberg dot Com and the 0:12:02.679 --> 0:12:05.760 Bloomberg Business app. This is Bloomberg Daybreak. 0:12:05.880 --> 0:12:08.960 Good morning, I'm Nathan Hager. President Trump has chouted it 0:12:09.000 --> 0:12:13.280 as Liberation Day for weeks now. The reciprocal tariff announcement 0:12:13.400 --> 0:12:16.680 is one day away, and White House Press Secretary Caroline 0:12:16.720 --> 0:12:19.520 Levitt says the President will head to the Rose Garden 0:12:19.640 --> 0:12:21.280 to send the world a message. 0:12:21.679 --> 0:12:25.440 Any country that has treated the American people unfairly, I 0:12:25.480 --> 0:12:27.880 should expect to receive a tariff in return on one go. 0:12:28.440 --> 0:12:31.559 That was White House spokes in Caroline Levit previewing tomorrow's 0:12:31.559 --> 0:12:33.640 event this morning. We are joined for more of a 0:12:33.720 --> 0:12:36.600 preview by Bloomberg News Senior editor Derek Wallbank. 0:12:36.679 --> 0:12:37.040 And Derek. 0:12:37.160 --> 0:12:39.640 Just to have this announcement in the Rose Garden sends 0:12:39.640 --> 0:12:44.479 a message of just how important President Trump sees this announcement. 0:12:44.520 --> 0:12:46.880 What do we know about what is going to be 0:12:46.920 --> 0:12:47.720 announced tomorrow? 0:12:47.720 --> 0:12:50.480 Good morning, Good morning, Nathan. Well, you know, look, there 0:12:50.559 --> 0:12:53.199 is a lot of unknown as you allude to, as 0:12:53.240 --> 0:12:55.280 we walk into this announcement. It is going to be 0:12:55.320 --> 0:12:58.280 a little bit less than Donald Trump had initially suggested. 0:12:58.360 --> 0:13:01.360 It might be in the way of reciprocal tariffs, but 0:13:01.559 --> 0:13:05.800 it should be quite substantial, and I think any sort 0:13:05.840 --> 0:13:09.760 of commentary about how this may be less than originally 0:13:09.760 --> 0:13:13.920 anticipated still has to raise in the idea that this 0:13:14.000 --> 0:13:18.400 is going to be a landmark tariff announcement across the board. 0:13:18.920 --> 0:13:21.440 Trump has said that all countries will be involved in 0:13:21.480 --> 0:13:25.640 this initially, although this could be the jumping off point 0:13:25.720 --> 0:13:31.240 for negotiations to lower this further. We are expecting that 0:13:31.320 --> 0:13:36.240 this will focus in some way on the fifteen economies, 0:13:36.559 --> 0:13:39.640 what the Scott Besson has called the dirty fifteen that 0:13:39.720 --> 0:13:43.280 together make up about seventy five percent of US trade, 0:13:43.280 --> 0:13:48.360 that all sort of have significant either tariff or non 0:13:48.400 --> 0:13:51.560 tariff barriers. The White House has said that this will 0:13:51.920 --> 0:13:54.720 not just be about you teriff US, we tarif you 0:13:54.800 --> 0:13:59.319 back exactly, but will take into account non tariff barriers 0:13:59.440 --> 0:14:02.520 as well. At the same time, Trump has said that 0:14:02.960 --> 0:14:08.040 he intends for his retaliatory tariffs to go lighter on 0:14:08.160 --> 0:14:11.400 other countries than he sees them going on the US. 0:14:11.480 --> 0:14:16.320 All of that comes together around a number, and it's 0:14:16.600 --> 0:14:19.520 too early yet to say what that number will be 0:14:20.000 --> 0:14:20.760 per country. 0:14:21.440 --> 0:14:25.360 Along with the Liberation Day event tomorrow, this is an 0:14:25.440 --> 0:14:30.960 election day in Wisconsin and Florida. We know Elon Musk 0:14:31.000 --> 0:14:33.400 has poured a lot of time and resources into this 0:14:33.520 --> 0:14:38.560 Wisconsin State Supreme Court race. What is the issue here 0:14:38.880 --> 0:14:39.680 in Wisconsin? 0:14:39.760 --> 0:14:44.920 Derek, Well, in Wisconsin, you have a very straightforward state 0:14:45.000 --> 0:14:48.400 Supreme Court race that's essentially for control of the state 0:14:48.440 --> 0:14:52.480 Supreme Court. Currently, justices the Lee Liberal have a four 0:14:52.480 --> 0:14:56.360 to three advantage in the swing state of Wisconsin, and 0:14:57.000 --> 0:14:59.680 if they are able to maintain that, there is some 0:14:59.760 --> 0:15:02.440 thought that there will be some major cases coming up, 0:15:02.720 --> 0:15:09.040 including potentially on redistricting. Musk had told conservatives that it 0:15:09.120 --> 0:15:12.520 was possibly at stake the control of the US House, 0:15:12.880 --> 0:15:15.880 emphasizing the role that a state Supreme court and a 0:15:16.000 --> 0:15:21.360 redistricting case can play in those challenges. Currently, Republicans hold 0:15:21.360 --> 0:15:26.560 a six to two advantage in the Wisconsin congressional delegation. 0:15:26.760 --> 0:15:29.880 At the same time, there's also two races in Florida's 0:15:29.880 --> 0:15:33.520 two US House races we can't forget about. One is 0:15:33.720 --> 0:15:38.000 up in the Florida Panhandle. That's Matt Gates's old stee. 0:15:38.640 --> 0:15:41.560 The other one is around Daytona Beach. That's Mike Waltz's 0:15:41.560 --> 0:15:46.320 old stee. Both of these are reliably Republican races. Nathan. 0:15:46.360 --> 0:15:51.040 We're talking two to one wins by those Republican candidates 0:15:51.360 --> 0:15:55.040 in the November election. But now five months later, there 0:15:55.040 --> 0:15:59.000 are some whispers among Republican allies as the President that 0:15:59.240 --> 0:16:02.480 maybe the day Kona area state that Waltz once held 0:16:02.880 --> 0:16:05.720 is not as secure as it could be. There were 0:16:05.760 --> 0:16:09.400 some suggestions even that the Republican candidate might have been 0:16:09.480 --> 0:16:12.720 trailing in some private polls. We'll see how this goes. 0:16:12.760 --> 0:16:16.359 This is a very Republican seat. But if the Republicans 0:16:16.440 --> 0:16:20.280 cannot go two for two in those House special elections, 0:16:20.720 --> 0:16:24.120 it would be a big problem. That would you would 0:16:24.120 --> 0:16:29.360 imagine spook House Republicans, not least of which also shrink 0:16:29.440 --> 0:16:31.760 the majority that they are currently working with. 0:16:32.040 --> 0:16:35.480 This is Bloomberg Daybreak, your morning podcast and the stories 0:16:35.560 --> 0:16:38.560 making news from Wall Street to Washington and beyond. 0:16:38.840 --> 0:16:41.240 Look for us on your podcast feed by six am 0:16:41.280 --> 0:16:44.680 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:44.880 --> 0:16:47.720 You can also listen live each morning starting at five 0:16:47.760 --> 0:16:50.480 am Wall Street Time on Bloomberg eleven three to zero 0:16:50.480 --> 0:16:53.360 in New York, Bloomberg ninety nine to one in Washington, 0:16:53.440 --> 0:16:57.400 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:57.600 --> 0:16:59.160 XM Channel one twenty one. 0:17:00.080 --> 0:17:02.480 Send coast to coast on the Bloomberg Business app now 0:17:02.520 --> 0:17:05.080 with Apple CarPlay and Android auto interfaces. 0:17:05.359 --> 0:17:08.080 And don't forget to subscribe to Bloomberg News Now. 0:17:08.200 --> 0:17:09.520 It's the latest news. 0:17:09.240 --> 0:17:12.200 Whenever you want it in five minutes or less. Search 0:17:12.240 --> 0:17:15.280 Bloomberg News Now on your favorite podcast platform to stay 0:17:15.280 --> 0:17:16.560 informed all day long. 0:17:16.920 --> 0:17:20.000 I'm Karen Moscow and I'm Nathan Hager. Join us again 0:17:20.040 --> 0:17:22.160 tomorrow morning for all the news you need to start 0:17:22.200 --> 0:17:27.760 your day right here on Bloomberg Day