Eagles Defeat Chiefs 40-22; Trump Plans Tariffs on Steel, Aluminum Imports

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. 0:00:15.480 --> 0:00:18.680 Karen, we begin with Super Bowl fifty nine and the 0:00:18.720 --> 0:00:24.000 Philadelphia Eagles blowout victory over the Kansas City Chiefs. Bloomberg's 0:00:24.079 --> 0:00:26.720 John stash Hour joins us with the latest. 0:00:26.760 --> 0:00:28.400 Good morning, John, Good morning, Nathan. 0:00:28.440 --> 0:00:31.720 The Eagles this season had the NFL's top rated defense, 0:00:31.800 --> 0:00:34.559 and in New Orleans it was on display in the 0:00:34.600 --> 0:00:37.320 Super Bowl third and sixteen. 0:00:37.479 --> 0:00:40.400 Homes held out looking finally. 0:00:40.040 --> 0:00:44.239 Intercepted, pick up a couple Desine gets the pup. 0:00:44.640 --> 0:00:45.400 To shoon. 0:00:50.200 --> 0:00:53.559 Loch Down Sports the call. Patrick Mahomes's next pass was 0:00:53.600 --> 0:00:56.400 also intercepted. Kansas City in the first half, held a 0:00:56.520 --> 0:00:59.120 one first down only twenty three yards, the Eagles built 0:00:59.120 --> 0:01:01.480 a thirty four to nine lead went on to win 0:01:01.600 --> 0:01:04.000 forty to twenty two, their second championship ever. 0:01:04.120 --> 0:01:04.200 No. 0:01:04.400 --> 0:01:07.960 Three pet for the Chiefs of More coming up in sports, Nathan, Karen. 0:01:07.959 --> 0:01:09.479 All right, John, thank you, and John. 0:01:09.480 --> 0:01:11.800 We'll have more on the Big Game and sports in 0:01:11.840 --> 0:01:14.480 a few minutes. President Trump was in the stands for 0:01:14.560 --> 0:01:17.720 Super Bowl fifty nine, the first sitting President to make 0:01:17.760 --> 0:01:19.560 it to the game. On the way, he announced that 0:01:19.560 --> 0:01:23.240 he's preparing twenty five percent tariffs on steel and aluminum 0:01:23.280 --> 0:01:26.920 imports into the US and Bloomberg John Tucker joins us 0:01:26.959 --> 0:01:27.880 with Moore and John. 0:01:28.120 --> 0:01:29.039 Who does this apply to? 0:01:29.280 --> 0:01:32.080 Well, Karen, the steel and aluminum tariffs will apply to 0:01:32.319 --> 0:01:35.880 all countries of the President, making the announcement of board 0:01:36.000 --> 0:01:38.640 Air Force one Eddy Steele coming. 0:01:38.400 --> 0:01:41.160 Into the United States is going to have a twenty 0:01:41.200 --> 0:01:47.200 five percent tariff eight allotle bit of two twenty five percent. 0:01:47.440 --> 0:01:51.800 Well, that includes the US's biggest trading partners, Canada and Mexico, 0:01:52.320 --> 0:01:54.880 even though they had just been given thirty day reprievese 0:01:55.000 --> 0:01:58.400 for other tariffs. Well, Trump didn't specify when the duties 0:01:58.440 --> 0:02:02.000 are going to take effect, and aluminum buyers and sellers 0:02:02.000 --> 0:02:04.520 had expected they'd have at least until March to prepare 0:02:04.560 --> 0:02:07.480 for any new terraffs both sides. Now I have to 0:02:07.480 --> 0:02:09.680 scramble to find new markets and suppliers. 0:02:10.120 --> 0:02:10.240 Well. 0:02:10.280 --> 0:02:12.560 The move is Trump's latest in a series of threatened 0:02:12.600 --> 0:02:15.400 tariffs that have rattled markets in the recent weeks. Yet 0:02:15.440 --> 0:02:18.040 it's still uncertain whether he's going to actually follow through 0:02:18.080 --> 0:02:18.560 on all this. 0:02:19.000 --> 0:02:19.480 You know, York. 0:02:19.520 --> 0:02:21.079 I'm John Tucker, Bloomberg Radio. 0:02:21.240 --> 0:02:23.160 All right, John, thank you. And according to a report 0:02:23.160 --> 0:02:27.000 from Morgan Stanley, US industry is heavily reliant on imported aluminum, 0:02:27.000 --> 0:02:30.080 while the aerospace and auto sectors use high grades steel 0:02:30.120 --> 0:02:34.000 from overseas. Joe Doe covers metals and mining for Bloomberg News. 0:02:34.040 --> 0:02:37.480 He says investors he's spoken to are confused. 0:02:36.960 --> 0:02:37.480 By the move. 0:02:37.880 --> 0:02:40.520 I think that's the difficulty here, is it just inserts 0:02:40.520 --> 0:02:44.080 so much uncertainty and confusion Because this does mean immediately 0:02:44.080 --> 0:02:46.919 people are going to have to start rethinking potential supply 0:02:47.400 --> 0:02:49.720 chains in terms of where they're getting their metal. 0:02:50.080 --> 0:02:53.240 Bloomberg's Joe Doe says tariffs have global implications because the 0:02:53.320 --> 0:02:56.080 US market sets the tone for aluminum and steel around 0:02:56.120 --> 0:02:58.840 the world. The President also says you will announce reciprocal 0:02:58.880 --> 0:03:02.480 tariffs this week on countries that tax US imports. All 0:03:02.520 --> 0:03:05.919 this has gold trading in record territory right now. COMECS 0:03:05.919 --> 0:03:07.680 gold is up one and a half percent at two 0:03:08.240 --> 0:03:11.240 nine and thirty dollars eighty cents per ounce. The dollar 0:03:11.280 --> 0:03:13.799 is strengthening as well. The Bloomberg Dollar Spot index is 0:03:13.919 --> 0:03:15.360 up two tenths of one percent. 0:03:16.000 --> 0:03:16.440 Well Nathan. 0:03:16.480 --> 0:03:21.120 President Trump also says Elon Musk's government efficiency team may 0:03:21.160 --> 0:03:25.160 have found irregularities in Treasury Department data. The President discussed 0:03:25.160 --> 0:03:27.200 that Aborad Air Force one, there. 0:03:27.120 --> 0:03:29.960 Could be a problem. You've been reading about that with treasuries, 0:03:30.280 --> 0:03:33.079 and that could be an interesting problem because it could 0:03:33.120 --> 0:03:35.400 be that a lot of those things don't count. In 0:03:35.440 --> 0:03:38.240 other words, that some of that stuff that we're finding 0:03:38.360 --> 0:03:42.160 is very fraudulent. Therefore, maybe we have less debt than 0:03:42.200 --> 0:03:42.680 we thought of. 0:03:43.200 --> 0:03:46.080 And it's unclear whether President Trump was talking about US 0:03:46.200 --> 0:03:49.560 government debt or payments process through the Treasury Department. The 0:03:49.600 --> 0:03:52.840 White House has yet to respond to a request for comment, and. 0:03:52.840 --> 0:03:56.600 Meanwhile, Karen Kremlin is declining to confirm or deny that 0:03:56.760 --> 0:04:00.640 Russian President Vladimir Putin has spoken with President Trump. This 0:04:00.720 --> 0:04:02.839 follows a New York Post report that claimed Trump said 0:04:02.840 --> 0:04:05.320 he discussed the war in Ukraine with Putin in a 0:04:05.360 --> 0:04:08.400 phone call. The report also quoted Trump declining to say 0:04:08.440 --> 0:04:11.720 how often he has spoken to Putin. Trump reportedly said quote, 0:04:11.960 --> 0:04:13.200 I'd better not say. 0:04:13.720 --> 0:04:14.280 Well, Nathan. 0:04:14.360 --> 0:04:18.919 President Trump also recognized yesterday as the first ever Gulf 0:04:19.000 --> 0:04:22.240 of America Day. The proclamation was posted on the White 0:04:22.279 --> 0:04:25.440 House website as Air Force one flew over the body 0:04:25.480 --> 0:04:28.600 of water renamed from the Gulf of Mexico on his 0:04:28.640 --> 0:04:30.800 way to Super Bowl fifty nine. 0:04:30.640 --> 0:04:33.640 And along with potential tariffs Karen a Trader's await comments 0:04:33.680 --> 0:04:34.400 this week from J. 0:04:34.720 --> 0:04:35.120 Powell. 0:04:35.320 --> 0:04:38.320 FED chairman delivers his semi annual testimony to lawmakers on 0:04:38.360 --> 0:04:41.840 Capitol Hill tomorrow and Wednesday. Powell is expected to highlight 0:04:41.839 --> 0:04:44.960 the resilient economy as a reason to keep interest rates steady, 0:04:45.279 --> 0:04:48.800 with proposed policies from the Trump administration, potentially keeping inflation 0:04:49.000 --> 0:04:52.360 elevated and coming off last Friday's jobs numbers. Claudia Sam 0:04:52.480 --> 0:04:56.000 with New Century Advisors expects the January Consumer Price Index 0:04:56.360 --> 0:04:58.320 to also reinforce the Fed's position. 0:04:58.720 --> 0:05:01.520 This very much continued the Feds. You know, the labor 0:05:01.560 --> 0:05:04.239 markets in a good place. We have the luxury of time. 0:05:04.320 --> 0:05:07.000 We can wait and see the next most important data 0:05:07.040 --> 0:05:08.919 are with the CPI and to see if we continue 0:05:08.960 --> 0:05:11.640 to make progress and everything they've got here kind of 0:05:11.760 --> 0:05:14.560 lets them stay in that, you know, on that trajectory. 0:05:15.080 --> 0:05:18.240 New Century Advisor's chief economist Claudias Sam traders get the 0:05:18.320 --> 0:05:21.960 January consumer price data on Wednesday and stay with Bloomberg 0:05:22.040 --> 0:05:25.040 For full coverage of share Powell's testimony, we will carry 0:05:25.080 --> 0:05:28.160 it live on Bloomberg Radio and on the Bloomberg podcast 0:05:28.160 --> 0:05:29.479 page on YouTube. 0:05:29.720 --> 0:05:32.599 Well Nathan the company news now Elon Musk says he 0:05:32.800 --> 0:05:36.480 is not interested in buying TikTok for now and hasn't 0:05:36.480 --> 0:05:39.239 put in a bid for the Chinese own social video app. 0:05:39.600 --> 0:05:41.960 At a weekend a conference in Germany, Musk said he 0:05:42.000 --> 0:05:44.960 does not use TikTok and doesn't have plans for what 0:05:45.080 --> 0:05:48.000 he'd do with the company. Last month, Bloomberg News reported 0:05:48.000 --> 0:05:51.520 that Chinese officials we're evaluating the possibility of Musk acquiring 0:05:51.560 --> 0:05:54.680 TikTok's US operations if it could not fend off a 0:05:54.720 --> 0:05:55.640 ban in the US. 0:05:55.880 --> 0:05:59.200 Also overseas, Karen BP is facing a showdown with one 0:05:59.200 --> 0:06:03.440 of the world's most aggressive activist investors, Elliott Investment Management, 0:06:03.480 --> 0:06:06.560 has built a significant stake in the British energy giant, 0:06:06.720 --> 0:06:10.400 which has seen dramatically worse returns than other major oil companies. 0:06:10.640 --> 0:06:14.400 Elliott has successfully campaigned for breakups, ousted board members, and 0:06:14.720 --> 0:06:18.880 changed corporate policy at other companies. BP reports fourth quarter 0:06:18.920 --> 0:06:21.720 results tomorrow and a new strategy in two weeks. 0:06:22.120 --> 0:06:22.280 Well. 0:06:22.279 --> 0:06:25.960 Finally, Nathan President Trump says he's ordered the Treasury Department 0:06:26.000 --> 0:06:29.680 to stop minting new pennies because they cost more to 0:06:29.760 --> 0:06:32.320 make than their worth. The President made the announcement in 0:06:32.360 --> 0:06:35.080 a truth social post mess year the US men said 0:06:35.080 --> 0:06:37.960 it costs about three point seven cents to produce and 0:06:38.000 --> 0:06:41.520 distribute a penny. That was up more than twenty percent 0:06:41.560 --> 0:06:44.359 from the previous year, partly due to rising prices of 0:06:44.400 --> 0:06:50.880 the zinc and copper that go into pocket change. Time 0:06:50.920 --> 0:06:52.520 now for look at some of the other stories making 0:06:52.520 --> 0:06:54.120 news in New York and around the world, and for 0:06:54.160 --> 0:06:57.120 that we're joined by Bloomberg's Michael Barr Michael, good morning. 0:06:56.920 --> 0:06:59.960 Good morning, Caaren. Millions along the East Coast have been 0:07:00.040 --> 0:07:03.960 digging themselves out after a major snowstorm blanketed the area 0:07:04.040 --> 0:07:07.000 over the weekend. In New York City, the biggest snowfall 0:07:07.080 --> 0:07:09.479 of the season, more than three inches of heavy, wet 0:07:09.520 --> 0:07:14.040 snow accumulating West Haven, Connecticut, like many other cities, use 0:07:14.440 --> 0:07:18.600 magnesium chloride instead of road saw to treat the roads. 0:07:18.800 --> 0:07:22.160 Rick Fontana is the city's director of Emergency Management. 0:07:22.400 --> 0:07:24.160 When you put those lines on the street and the 0:07:24.200 --> 0:07:26.520 snow hits it, and before you know it, it turns 0:07:26.560 --> 0:07:29.040 to water and it doesn't snow cover the street. 0:07:29.480 --> 0:07:32.720 Meanwhile, another system moves into the mid Atlantic tomorrow night. 0:07:33.240 --> 0:07:36.200 The trial of a New jerseyman accused of stabbing author 0:07:36.320 --> 0:07:39.640 Salman Rushti in twenty twenty two begins today in Mayville, 0:07:39.680 --> 0:07:43.679 New York. Hadi Matar has pleaded not guilty in the case. 0:07:44.080 --> 0:07:48.040 The stabbing was recorded and witnessed by thousands of people. 0:07:48.600 --> 0:07:51.720 Rushdi had been living many years in hiding after Iran's 0:07:51.800 --> 0:07:55.120 leader in nineteen eighty nine called for his assassination over 0:07:55.160 --> 0:07:59.239 alleged blasphemy. It is a red alert moment for the US. 0:07:59.400 --> 0:08:03.120 That is from Democratic Senator Chris Murphy of Connecticut telling 0:08:03.120 --> 0:08:06.360 ABC's This Week, President Trump is waging an assault on 0:08:06.400 --> 0:08:08.480 democracy and the constitution. 0:08:09.200 --> 0:08:12.280 This is the most serious con crisis the country has faced, 0:08:12.480 --> 0:08:16.520 certainly since Watergate. The President is attempting to seize control 0:08:16.640 --> 0:08:19.400 of power and for corrupt purposes. 0:08:20.080 --> 0:08:24.600 Senator Murphy accused the president of eviscerating democracy by trying 0:08:24.600 --> 0:08:28.520 to control how and where money is spent in order 0:08:28.600 --> 0:08:32.640 to reward political friends and punish political enemies. ABC's This 0:08:32.679 --> 0:08:36.880 Week can be heard Sundays on Bloomberg. Routine inspections during 0:08:37.000 --> 0:08:40.240 this bird flew out break led to the closures of 0:08:40.320 --> 0:08:43.319 live bird markets in New York City and its suburbs 0:08:43.360 --> 0:08:46.840 to prevent spread. The virus has impacted zoos as well. 0:08:47.280 --> 0:08:51.120 The Wildlife Conservation Society says at least three ducks at 0:08:51.160 --> 0:08:54.040 the Queens Zoo and as many as twelve birds at 0:08:54.080 --> 0:08:58.080 the Bronx Zoo died from this virus. In a growing trend, 0:08:58.360 --> 0:09:02.400 more people are micro dos ozempic and other weight loss drugs. 0:09:02.720 --> 0:09:05.080 Some are doing it because they only want to lose 0:09:05.080 --> 0:09:07.840 a little weight. Others are micro dosing for the side 0:09:07.840 --> 0:09:12.560 benefits like anti inflammations, so their faces look thinner and 0:09:12.640 --> 0:09:16.400 their cheek bones are more defined. Ashley Helms runs up 0:09:16.480 --> 0:09:17.760 medical spa in Boston. 0:09:18.160 --> 0:09:21.480 We've really seen that there is something too customizing it 0:09:21.559 --> 0:09:22.120 for people. 0:09:22.480 --> 0:09:25.960 Some doctors, however, are skeptical of the impacts of microdosing. 0:09:26.440 --> 0:09:28.600 Global to use twenty four hours a day and whenever 0:09:28.640 --> 0:09:31.080 you want it With Bloomberg News Now, I'm Michael Barr, 0:09:31.120 --> 0:09:32.840 and this is Bloomberg Karen all. 0:09:32.800 --> 0:09:34.040 Right, Michael Barr, thank you. 0:09:38.920 --> 0:09:41.240 Time now for the Bloomberg Sports Update, brought to you 0:09:41.280 --> 0:09:42.640 by Try straight Out. 0:09:42.720 --> 0:09:44.200 He Here's John stash Hour. 0:09:44.400 --> 0:09:48.080 John all right, County year ago was a disastrous finish 0:09:48.080 --> 0:09:50.120 to the Philadelphia Eagle season. In their last seven games, 0:09:50.120 --> 0:09:51.920 they beat the Giants, but they lost the other six. 0:09:51.960 --> 0:09:53.920 They lost their playoff games by twenty three, and they 0:09:53.960 --> 0:09:57.400 began this season just two and two, but then lost 0:09:57.440 --> 0:09:59.240 only once the rest of the way, and they avenged 0:09:59.280 --> 0:10:01.600 the Super Bowl law two years ago to Kansas City 0:10:01.640 --> 0:10:05.720 by dismantling the two time defending champs in New Orleans 0:10:05.800 --> 0:10:08.480 forty to twenty two. It wasn't that close. The Eagles 0:10:08.480 --> 0:10:11.120 were at one point up thirty four to nothing. Their 0:10:11.160 --> 0:10:13.679 coach is Nick Siriani. It's hard to say that when 0:10:13.720 --> 0:10:15.840 you won sixteen out of your last seventeen. 0:10:15.880 --> 0:10:16.920 But there was adversity. 0:10:16.960 --> 0:10:21.160 There's adversity constantly, and I think we did a good 0:10:21.240 --> 0:10:23.319 job of embracing that the ups and downs of the 0:10:23.400 --> 0:10:26.240 season and getting better from the things that we that 0:10:26.280 --> 0:10:29.200 we went through. Jalen Hurts threw for two touchdowns, ran 0:10:29.280 --> 0:10:31.480 for another. Hurtz was named Super Bowl and DP. 0:10:32.480 --> 0:10:34.480 You don't do great things without the guys around you. 0:10:35.480 --> 0:10:42.280 So the effort, the word always leaning on that, trusting 0:10:42.280 --> 0:10:44.480 in net and trusting the process, and staying the course 0:10:44.520 --> 0:10:46.920 and sticking to the script. 0:10:46.679 --> 0:10:48.920 Jake Kelliott take four field goals. Someone quiet game for 0:10:48.960 --> 0:10:51.599 Sakawon Barkley only fifty seven yards more than anything. The 0:10:51.640 --> 0:10:54.600 Eagles led the victory by their defense, holding Kansas City 0:10:54.679 --> 0:10:57.440 the one first down in the first half only twenty 0:10:57.480 --> 0:11:01.760 three yards. Interceptions on consecutive Patrick Mahomes passes, including a 0:11:01.840 --> 0:11:04.040 pick six Parades. 0:11:03.480 --> 0:11:04.240 And Philly are rare. 0:11:04.400 --> 0:11:06.760 Is only the third Pro championship won by any of 0:11:06.800 --> 0:11:09.760 their teams in the last forty years. The Eagles thirty 0:11:09.800 --> 0:11:12.440 six year old offensive coordator is Kellen Moore. He's staying 0:11:12.480 --> 0:11:14.360 in New Orleans. He'll be the new coach of the Saints. 0:11:14.880 --> 0:11:17.800 ESPN offorts that Jets will not bring Aaron Rodgers back 0:11:17.840 --> 0:11:20.280 next season. That official word could come this week. Luk 0:11:20.320 --> 0:11:23.760 At Dohnson's debuts. The Lakers tonight traded for Anthony Davis 0:11:23.840 --> 0:11:26.680 Dayfords suffered an injury in his first game with Dallas. 0:11:26.920 --> 0:11:30.040 He could miss the next month. The Belgian Thomas Dietree 0:11:30.120 --> 0:11:32.560 ran away with the WM Golf in Phoenix, finished twenty 0:11:32.559 --> 0:11:35.480 four under par one by seven. It's his first PGA 0:11:35.600 --> 0:11:36.280 Tour victory. 0:11:36.559 --> 0:11:38.400 John Stansheler Bloomberg Sports, Karen D. 0:11:38.440 --> 0:11:45.040 Nathan coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:45.160 --> 0:11:48.000 and around the world on Bloomberg dot Com and the 0:11:48.040 --> 0:11:51.120 Bloomberg Business app. This is Bloomberg Daybreak. 0:11:51.400 --> 0:11:54.920 Good morning, I'm Nathan Hager. President Trump was promising to 0:11:54.960 --> 0:11:57.679 make good on his threats of sweeping tariffs on adversaries 0:11:57.720 --> 0:12:00.880 and trading partners alike. On his way to the Super Bowl. 0:12:00.920 --> 0:12:03.040 The President told reporters on Air Force One that he 0:12:03.040 --> 0:12:06.160 will announce twenty five percent tariffs on steel and aluminum 0:12:06.160 --> 0:12:09.400 imports today, and he says he won't stop there. 0:12:09.760 --> 0:12:13.480 I'll be announcing probably Tuesday and Wednesday at a news conference, 0:12:13.480 --> 0:12:17.800 reciprocal tariffs and very simply, if they judge us, we 0:12:17.960 --> 0:12:18.680 judged them. 0:12:19.200 --> 0:12:19.840 And for more. 0:12:19.920 --> 0:12:23.400 We are joined by Bloomberg News Senior editor Bill Ferries. So, Bill, 0:12:23.440 --> 0:12:28.040 the tariff threats continue. Good morning, Yeah, good morning. 0:12:28.160 --> 0:12:31.720 Interesting that was all taking place on President Trump's flight 0:12:31.760 --> 0:12:35.000 to the Super Bowl. He announced that he's going to 0:12:35.040 --> 0:12:37.920 have these twenty five percent tariffs on imports of steel 0:12:37.960 --> 0:12:41.640 and aluminum. But interestingly enough, two of the countries that 0:12:41.679 --> 0:12:45.400 would be most affected by that would be Canada and Mexico. 0:12:45.720 --> 0:12:48.640 Of course, he's already threatened twenty five percent across the 0:12:48.679 --> 0:12:54.360 board tariffs on those countries. That's been delayed until early March, 0:12:55.040 --> 0:12:57.079 but this would hit them the most, and then it 0:12:57.120 --> 0:13:01.520 would also hit countries including allies like South Korea, Bahrain 0:13:02.480 --> 0:13:06.640 and Australia, so pretty wide range of countries that would 0:13:06.679 --> 0:13:09.800 be affected. We still have to see whether they whether 0:13:09.840 --> 0:13:13.319 they will really come into effect immediately or if there 0:13:13.360 --> 0:13:15.880 will be time like there was with Canada and Mexico 0:13:16.040 --> 0:13:19.120 for countries to maybe reach out and get a delay 0:13:19.240 --> 0:13:21.480 and extend the period of negotiation. 0:13:21.920 --> 0:13:24.360 Yeah, and to that point, of course, we've seen the 0:13:24.400 --> 0:13:26.800 President say that he was going to impose twenty five 0:13:26.800 --> 0:13:29.800 percent tariffs across the board on Canada and Mexico, only 0:13:29.840 --> 0:13:32.920 to delay them for a few weeks. So what does 0:13:32.960 --> 0:13:37.080 this say about whether this latest warning of tariffs could 0:13:37.120 --> 0:13:39.040 actually go through right away. 0:13:40.400 --> 0:13:43.000 Well, that's that's the big question. We're waiting for a 0:13:43.040 --> 0:13:46.160 little more clarity from the White House. I think, you know, 0:13:46.240 --> 0:13:50.240 we have seen the ten percent tariffs that President Trump 0:13:50.760 --> 0:13:54.640 announced on China go into effect and China immediately responded, 0:13:55.360 --> 0:13:58.560 but we haven't seen you know, the biggest, the biggest threats, 0:13:58.600 --> 0:14:01.800 the twenty five percent He's so there is still some 0:14:02.040 --> 0:14:05.880 question in the markets, I think about whether he really 0:14:05.920 --> 0:14:10.720 will go through with something so broad going after steel 0:14:10.720 --> 0:14:13.920 and aluminum that would be a little more narrowly focused. 0:14:13.960 --> 0:14:16.880 It would hit fewer industries than, of course, just doing 0:14:16.880 --> 0:14:19.680 a blanket twenty five percent on everything that comes in. 0:14:20.200 --> 0:14:24.000 Along with the tariff announcements that we're expecting this week, 0:14:24.320 --> 0:14:28.080 President Trump also suggested that Elon Musk and his Government 0:14:28.080 --> 0:14:32.560 Efficiency team may have found problems at the Treasury Department. 0:14:32.600 --> 0:14:35.360 Of course, we've seen the DOGE team sort of blocked 0:14:35.880 --> 0:14:39.240 when it comes to access to Treasury systems after a 0:14:39.320 --> 0:14:44.320 judge's decision. So what could the President be talking about here, Well, 0:14:44.400 --> 0:14:45.240 that's a great question. 0:14:45.320 --> 0:14:47.920 We don't really know. We didn't get much more than 0:14:48.040 --> 0:14:52.520 kind of very general comments. President Trump made this one 0:14:52.600 --> 0:14:55.120 remark that he said, maybe we have less debt than 0:14:55.160 --> 0:14:59.280 we thought of. But when pressed, we've repeatedly been asking 0:14:59.320 --> 0:15:02.760 the White House sends those comments for more clarity on 0:15:03.000 --> 0:15:06.200 what the DOGE team found, what they're referring to, and 0:15:06.280 --> 0:15:07.000 we don't have. 0:15:06.920 --> 0:15:07.880 A response yet. 0:15:08.520 --> 0:15:11.840 We do know that until this point, the DOGE team 0:15:11.880 --> 0:15:15.080 had been looking at a lot of the payment data 0:15:15.120 --> 0:15:18.280 that goes in and out of the Treasury Department. A 0:15:18.360 --> 0:15:22.400 judge has blocked some of their access to that we know. 0:15:22.440 --> 0:15:25.440 Scott Bessett, the Treasury Secretary, said they only had read 0:15:25.520 --> 0:15:29.680 only access. They weren't actually changing payments or canceling payments, 0:15:30.280 --> 0:15:33.280 but we didn't think that they were looking potentially at 0:15:33.280 --> 0:15:36.320 Treasury data. So there are a lot of questions. I 0:15:36.320 --> 0:15:38.680 think the White House Press Office and the President are 0:15:38.760 --> 0:15:41.320 going to be facing as soon as they're up and running. 0:15:41.560 --> 0:15:45.040 This morning, this is Bloomberg Daybreak, your morning podcast on 0:15:45.120 --> 0:15:48.800 the stories making news from Wall Street to Washington and beyond. 0:15:49.040 --> 0:15:51.440 Look for us on your podcast feed by six am 0:15:51.480 --> 0:15:54.880 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:15:55.080 --> 0:15:57.960 You can also listen live each morning starting at five 0:15:58.000 --> 0:16:00.720 am Wall Street Time on Bloomberg and three to zero 0:16:00.720 --> 0:16:03.600 in New York, Bloomberg in ninety nine to one in Washington, 0:16:03.680 --> 0:16:07.600 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:07.800 --> 0:16:09.360 XM Channel one twenty one. 0:16:09.760 --> 0:16:12.480 Plus listen coast to coast on the Bloomberg Business app 0:16:12.520 --> 0:16:15.720 now with Apple CarPlay and Android Atto interfaces, and. 0:16:15.720 --> 0:16:18.680 Don't forget to subscribe to Bloomberg News Now. It's the 0:16:18.720 --> 0:16:21.880 latest news whenever you want it in five minutes or less. 0:16:22.160 --> 0:16:25.240 Search Bloomberg News Now and your favorite podcast platform to 0:16:25.240 --> 0:16:26.840 stay informed all day long. 0:16:27.120 --> 0:16:29.520 I'm Karen Moscow and I'm Nathan Hager. 0:16:29.680 --> 0:16:31.720 Join us again tomorrow morning for all the news you 0:16:31.760 --> 0:16:34.120 need to start your day, right here on Bloomberg. 0:16:34.200 --> 0:16:34.520 Dabray