Trump Avoids Recession Call, Says Economy In ‘Transition', Mark Carney Wins in Canada

Bloomberg Audio Studios, podcasts, radio news. 0:00:10.240 --> 0:00:10.799 Good morning. 0:00:10.840 --> 0:00:13.680 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.720 --> 0:00:15.600 stories we're following today, Karen. 0:00:15.640 --> 0:00:18.560 The drop in futures follows last week's three percent decline 0:00:18.600 --> 0:00:20.640 for the S and P five hundred, as investors become 0:00:20.720 --> 0:00:24.480 increasingly concerned about the economy, the dollars coming off its 0:00:24.520 --> 0:00:28.120 worst week since twenty twenty two. President Trump says the 0:00:28.160 --> 0:00:31.600 economy faces a period of transition. He is deflecting concerns 0:00:31.600 --> 0:00:34.080 about the risks of a slowdown as his early focus 0:00:34.120 --> 0:00:37.559 on tariffs and federal job cuts causes market turmoil. The 0:00:37.600 --> 0:00:41.200 president was asked about recession possibility on Fox News. 0:00:41.440 --> 0:00:44.559 I hate to predict things like that. There is a 0:00:44.880 --> 0:00:48.400 period of transition because what we're doing is very big. 0:00:48.640 --> 0:00:51.760 We're bringing wealth back to America. That's a big thing, 0:00:52.600 --> 0:00:57.200 and there are always periods of it takes a little time. 0:00:58.040 --> 0:00:59.200 It takes a little time. 0:01:00.080 --> 0:01:03.840 President Trump's latest comments come after FED shared Jerome Powell 0:01:03.880 --> 0:01:07.160 acknowledged increasing uncertainty on Friday, though he also said the 0:01:07.160 --> 0:01:09.640 economy remains in a good place. 0:01:09.920 --> 0:01:13.600 Well, Nathan. President Trump also says he's mostly lifted a 0:01:13.640 --> 0:01:17.280 freeze on intelligence sharing with Ukraine. The President spoke to 0:01:17.360 --> 0:01:20.600 reporters on board air Force one last night, we want. 0:01:20.480 --> 0:01:24.040 To do anything we can to get Ukraine too serious about. 0:01:25.360 --> 0:01:29.120 Getting something done, and the President stopped providing some intelligence 0:01:29.160 --> 0:01:32.360 to Ukraine after an Oval Office meeting with President Vladimir 0:01:32.400 --> 0:01:36.319 Zelenski turned into open arguing. A barrage of Russian missile 0:01:36.360 --> 0:01:39.440 attacks in recent days has led to questions about that decision. 0:01:39.840 --> 0:01:42.959 US and Ukrainian officials or meeting in Saudi Arabia tomorrow 0:01:43.000 --> 0:01:46.959 to discuss reviving a critical minerals deal between the two countries, Karen. 0:01:47.000 --> 0:01:49.480 President Trump also says there could be a deal soon 0:01:49.560 --> 0:01:52.600 on TikTok. Let's get the details on that from Bloomberg's 0:01:52.640 --> 0:01:53.720 John Tucker John. 0:01:53.880 --> 0:01:56.559 Good Morning, Nathan. In response to a question on board 0:01:56.600 --> 0:02:00.600 Airports One, the President said there is interest in TikTok's 0:02:00.720 --> 0:02:01.440 US business. 0:02:02.000 --> 0:02:05.680 They could be. We're dealing with four different groups and 0:02:05.720 --> 0:02:07.520 a lot of people want it and it's up to me, 0:02:08.480 --> 0:02:09.160 so they could be. 0:02:09.919 --> 0:02:12.880 He didn't specify the four contenders for the business or 0:02:12.880 --> 0:02:15.640 indicated which way he was leaning, instead of saying all 0:02:15.680 --> 0:02:18.639 four are good. The public bidders today it include a 0:02:18.639 --> 0:02:22.079 group led by billionaire Frank McCourt. TikTok which is owned 0:02:22.080 --> 0:02:25.079 by China's byke Dance, faces a deadline of April fifth 0:02:25.080 --> 0:02:27.920 to strike a deal for its US operations or be 0:02:28.040 --> 0:02:30.560 banned from the country under a law pass during the 0:02:30.600 --> 0:02:34.480 Biden administration. TikTok Us was estimated to be worth as 0:02:34.520 --> 0:02:38.280 much as fifty billion dollars. Bike Dance is not indicated 0:02:38.440 --> 0:02:41.480 any interest in selling off its US operations in New 0:02:41.560 --> 0:02:43.400 York im John Tucker Bloomberg. 0:02:43.040 --> 0:02:45.799 Radio, All right, John, thank you well looking north Mark 0:02:45.840 --> 0:02:49.080 Kearney has won the race to become Canada's next prime minister. 0:02:49.280 --> 0:02:51.519 The former Bank of Canada and Bank of England governor 0:02:51.560 --> 0:02:54.959 will take over from Justin Trudeau after winning the contest 0:02:54.960 --> 0:02:57.600 to lead the country's Liberal party with nearly eighty six 0:02:57.639 --> 0:03:00.480 percent of the vote. The victory comes as trump decision 0:03:00.480 --> 0:03:03.120 to impose US tariffs on Canada has been met with 0:03:03.480 --> 0:03:08.040 patriotic fury and widespread boycotts of American goods, and his 0:03:08.120 --> 0:03:11.720 acceptance speech, Carney said he would protect the country's economy 0:03:11.760 --> 0:03:12.560 and sovereignty. 0:03:13.000 --> 0:03:17.520 The Canadian government has rightly retaliated and is rightly retaliating 0:03:17.560 --> 0:03:21.000 with our own tariffs that will have maximum impact in 0:03:21.040 --> 0:03:24.440 the United States and minimum impact here in Canada, and 0:03:24.560 --> 0:03:27.799 my government will keep our tariffs on until the Americans 0:03:27.840 --> 0:03:29.000 show us respect. 0:03:29.520 --> 0:03:32.360 The transfer of power to Carney from Justin Trudeau is 0:03:32.360 --> 0:03:35.120 expected to take place within NGAGED and it's possible he 0:03:35.160 --> 0:03:37.640 will call a national elections soon after. 0:03:37.960 --> 0:03:41.440 Back here in US politics, Karen House Republicans have introduced 0:03:41.440 --> 0:03:43.880 a spending build we keep the government running through September 0:03:43.920 --> 0:03:46.400 thirtieth and avoid a shutdown at the end of this week. 0:03:46.720 --> 0:03:49.840 President Trump is warning the GOP to allow no dissent 0:03:50.160 --> 0:03:53.760 so the bill can pass without Democratic votes, but Pennsylvania 0:03:53.840 --> 0:03:57.280 Republican Congressman Brian Fitzpatrick says he's not sure if he's 0:03:57.320 --> 0:03:59.920 a yes on this Continuing Resolution or CR. 0:04:00.520 --> 0:04:03.200 We want two party solutions, including on the CR, so 0:04:03.560 --> 0:04:05.360 it remains to be seen whether the votes are there 0:04:05.400 --> 0:04:05.640 or not. 0:04:06.320 --> 0:04:09.560 Republican Brian Fitzpatrick chairs the House Problem Solvers Caucus with 0:04:09.600 --> 0:04:12.720 New York Democrat Tom Swazi. He says the bill would 0:04:12.760 --> 0:04:14.760 need sixty votes to pass in the Senate. 0:04:15.000 --> 0:04:16.760 Wouldn't it be better if we all just work together 0:04:16.800 --> 0:04:18.560 to try and find common ground? I have a full 0:04:18.640 --> 0:04:21.880 year continuing resolution is not the normal process. 0:04:21.960 --> 0:04:25.120 Congressman Swazi and Fitzpatrick both appeared on CBS's Face the 0:04:25.200 --> 0:04:28.360 Nation Heard Sundays on Bloomberg Radio. I've also just heard 0:04:28.400 --> 0:04:31.520 from Secretary of State Marco Rubio. He says eighty three 0:04:31.640 --> 0:04:35.280 percent of programs at the US Agency for International Development 0:04:35.520 --> 0:04:39.640 are being officially canceled. In a post on X this morning, 0:04:39.680 --> 0:04:43.560 Rubio says the remaining eighteen percent of USAID will be 0:04:43.640 --> 0:04:45.120 managed by the State Department. 0:04:45.640 --> 0:04:48.039 Well, Nathan, we're looking at markets now in Wall Street. 0:04:48.040 --> 0:04:50.200 Here's from a couple of big tech names. This week, 0:04:50.240 --> 0:04:53.000 we get a preview with Bloomberg's Charlie Pellett. 0:04:52.760 --> 0:04:55.560 Oracle and Adobe r on deck with a focus on 0:04:55.680 --> 0:04:59.480 any AI comments. As for the broader earnings backdrop, Emily 0:04:59.600 --> 0:05:03.600 Rowland is co chief investment strategist at JH Investments. 0:05:03.880 --> 0:05:06.839 We're really not finding a meaningful shift in terms of 0:05:06.839 --> 0:05:10.640 the earnings narrative. Analysts are penciling in about twelve percent 0:05:10.720 --> 0:05:13.480 earnings growth in the United States this year. It's a 0:05:13.560 --> 0:05:16.080 little bit off fifteen percent that was penciled in a 0:05:16.080 --> 0:05:18.400 couple of months ago, but it's still pretty darn good. 0:05:18.600 --> 0:05:23.040 Also this week, retailers including Dollar General, Williams Sonoma and 0:05:23.120 --> 0:05:27.200 Dick's Sporting Goods in New York. Charlie Pellet, Bloomberg Radio. 0:05:27.400 --> 0:05:30.360 All right, Charlie, thank you. The recent stock selloff may 0:05:30.400 --> 0:05:34.240 not be over. That's according to Morgan Stanley's Mike Wilson. 0:05:34.320 --> 0:05:36.680 He says stocks are at risk of slumping another five 0:05:36.760 --> 0:05:40.400 percent on concerns about tariffs and lower fiscal spending. Strategist 0:05:40.400 --> 0:05:42.200 says the S and P five hundred will hit a 0:05:42.200 --> 0:05:44.599 low of about fifty five hundred points in the first 0:05:44.600 --> 0:05:48.239 half of this year before recovering to sixty five hundred 0:05:48.360 --> 0:05:50.360 by the end of the year. That target implies a 0:05:50.480 --> 0:05:53.360 rally of thirteen percent from current levels. And we're going 0:05:53.440 --> 0:05:56.880 to speak with Morgan Stanley's Mike Wilson tomorrow morning right 0:05:56.920 --> 0:05:58.400 here on Bloomberg Daybreak. 0:05:58.960 --> 0:06:02.000 Well in company news here and Nathan Tesla's shares continue 0:06:02.000 --> 0:06:04.760 to go and reverse. They're done about three percent this morning. 0:06:04.800 --> 0:06:08.240 Elon Musk Automaker has been backsliding in China for the 0:06:08.320 --> 0:06:11.400 past five consecutive months, including a forty nine percent drop 0:06:11.400 --> 0:06:14.480 in February compared to last year. It has been losing 0:06:14.520 --> 0:06:18.080 market share to companies including China's BYD. Tesla shares have 0:06:18.160 --> 0:06:24.240 dropped forty five percent since mid December. Time now for 0:06:24.320 --> 0:06:26.000 look at some of the other stories making news in 0:06:26.000 --> 0:06:27.640 New York and around the world, and for that we're 0:06:27.680 --> 0:06:29.880 joined by Bloomberg's Michael Barr Michael good. 0:06:29.720 --> 0:06:32.400 Morning, Good Morning Care And Israel has cut off the 0:06:32.440 --> 0:06:35.680 electricity supply to gaz Up. The move has affected a 0:06:35.720 --> 0:06:40.799 desalinization plant producing drinking water for part of the arid territory. 0:06:41.120 --> 0:06:44.240 Former Deputy Assistant Secretary of Defense for the Middle East 0:06:44.279 --> 0:06:45.760 mc mulroy they. 0:06:45.600 --> 0:06:48.520 Have no capacity to make the food that they need 0:06:48.560 --> 0:06:52.200 for over two million people, and now with cutting off electricity, 0:06:52.520 --> 0:06:55.840 there's not likely a way to make clean water. So 0:06:56.279 --> 0:06:59.200 the very essence of what people need water clean. 0:06:58.960 --> 0:07:03.880 Waters instead wants to start negotiations on the ceasefires more 0:07:03.880 --> 0:07:09.200 difficult second phase firefighters are battling wildfires in eastern Long Island. 0:07:09.560 --> 0:07:12.560 New York Governor Kathy Hokeel declared a state of emergency. 0:07:12.760 --> 0:07:16.880 The wildfires have scorched more than six hundred acres near 0:07:16.960 --> 0:07:20.800 densely populated areas in the Hamptons. Three of the fires 0:07:20.800 --> 0:07:23.880 are now out, a fourth is being knocked down. After 0:07:23.960 --> 0:07:28.360 more than eighty fire departments and ten EMS units were deployed. 0:07:28.720 --> 0:07:32.680 Dry and breezy conditions fueled the fires. Suffolk County Executive 0:07:32.680 --> 0:07:35.200 at Remains says the White House is offering their support. 0:07:35.520 --> 0:07:39.480 We forget that at times of crisis, times of danger, 0:07:40.120 --> 0:07:44.560 Americans can come together and can address problems. So my 0:07:44.680 --> 0:07:47.120 thank you, particularly to the volunteers that all showed up. 0:07:47.800 --> 0:07:51.160 There is an investigation into the fires as possible arson. 0:07:51.760 --> 0:07:55.520 South Korea's military says North Korea has fired several ballistic 0:07:55.600 --> 0:07:59.640 missiles into the sea. Today's launch happened hours after South 0:07:59.720 --> 0:08:04.440 Korea and US troops kicked off their large annual combined drills. 0:08:04.840 --> 0:08:08.280 Spend sixty years since Bloody Sunday, when police in Alabama 0:08:08.520 --> 0:08:11.960 beat protesters during the historic Selma to Montgomery March for 0:08:12.040 --> 0:08:16.200 civil rights. House Democratic leader Hakim Jeffries visited Selma for 0:08:16.320 --> 0:08:18.400 commemorative events over the weekend. 0:08:18.600 --> 0:08:22.680 We appreciate the service and the sacrifice and the work 0:08:23.560 --> 0:08:27.240 of John Lewis, having served with him, one who would 0:08:27.280 --> 0:08:32.160 always tell us stumming good times and trouble times, never 0:08:32.200 --> 0:08:34.360 give up, that's right, never give in. 0:08:34.880 --> 0:08:39.280 House Democrats reintroduced the John R. Lewis Voting Rights Advancement Act, 0:08:39.600 --> 0:08:42.600 named after the late Georgia congressman beaten during the March. 0:08:42.840 --> 0:08:45.160 Global news twenty four hours a day and whenever you 0:08:45.200 --> 0:08:47.959 want it with Bloomberg News Now. I'm Michael barrn. This 0:08:48.000 --> 0:08:48.880 is Bloomberg Karen. 0:08:49.040 --> 0:08:55.719 All right, Michael barr thank you time now for the 0:08:55.760 --> 0:08:58.520 Bloomberg Sports Update, brought to you by Tri State ONDI. 0:08:58.600 --> 0:09:00.640 Here's John stash Hour and good learning. 0:09:00.679 --> 0:09:02.840 The Norny Caron had a good weekend for the Rangers 0:09:02.840 --> 0:09:05.360 and their hopes of making the playoffs. They played Ottawa 0:09:05.440 --> 0:09:08.600 and Columbus, two teams they're fighting with. They lost them both. 0:09:08.640 --> 0:09:10.960 Blew a two goal third period lead Saturday, and then 0:09:10.960 --> 0:09:13.880 at the Garden three times gave up two goals in 0:09:13.920 --> 0:09:16.320 a span of less than two minutes. The Blue Jackets 0:09:16.320 --> 0:09:19.480 won seven to three. Jonathan Quick gave up all seven 0:09:19.520 --> 0:09:21.920 of the Rangers. Coach Peter Lobby alat. 0:09:22.160 --> 0:09:24.760 It bounces in a different direction, or we have somebody 0:09:24.800 --> 0:09:27.200 fall and thee the coverage breaks down, it goes to 0:09:27.240 --> 0:09:30.760 hotmad numbers down on our zone. So it was different reasons. 0:09:30.800 --> 0:09:33.920 Every goal was a different scenario. At the end of 0:09:33.960 --> 0:09:36.720 the day, it's not good enough. We gave up chances 0:09:36.720 --> 0:09:38.360 that were big and right in front of our net, 0:09:38.480 --> 0:09:39.880 and that can happened. 0:09:40.000 --> 0:09:42.520 If the season ended now, the Rangers would not make 0:09:42.559 --> 0:09:45.440 the playoffs. Devils won three one at Philadelphia. Cody Glass, 0:09:45.480 --> 0:09:48.040 just acquired from Pittsburgh, scored in his debut. The Islanders 0:09:48.040 --> 0:09:51.240 lost at Anaheid four to one. The next without Jalen Brunson. 0:09:51.240 --> 0:09:54.320 After two losses in LA, played tonight in Sacramento. The 0:09:54.400 --> 0:09:57.640 Kings lost last night when the Clippers Kawhi Leonard scored 0:09:57.679 --> 0:10:01.240 at the buzzer of overtime. Four team punts their tickets 0:10:01.240 --> 0:10:04.080 to the NCAA tournament Drake three feet to the Missouri 0:10:04.200 --> 0:10:06.240 Valley high Point one of the Big South Omaha the 0:10:06.280 --> 0:10:09.840 Summit Lipscomb. The a SAM Big East Tournament begins Wednesday 0:10:10.240 --> 0:10:13.040 at the Garden. Devonte Adams, released by the Jets, found 0:10:13.040 --> 0:10:15.640 a new home with the LA Rams. Another wide out, 0:10:15.720 --> 0:10:18.560 dk Metcalf, who wanted to trade out of Seattle, got 0:10:18.600 --> 0:10:22.400 his wish. He's headed to Pittsburgh. A contract extension for 0:10:22.520 --> 0:10:25.400 Josh Allen in Buffalo when it kicks in the NFL, 0:10:25.520 --> 0:10:28.320 MVP will make fifty five million a year. Myles Garrett 0:10:28.360 --> 0:10:30.200 wanted to trade out of Cleveland, but he's staying with 0:10:30.240 --> 0:10:33.280 the Browns with an extension that goes through twenty thirty. 0:10:33.320 --> 0:10:36.720 The Mets will start the season without starting catcher Carlos 0:10:36.760 --> 0:10:39.840 Alvarez got a broken bone near his left wrist. They 0:10:39.840 --> 0:10:42.320 say he'll miss six to eight weeks. Golf at Bay Hill, 0:10:42.720 --> 0:10:46.280 Russell Henley trailed Colin Moricow by three with five holes 0:10:46.320 --> 0:10:48.800 to play. Henley won by a shot thanks to a 0:10:48.920 --> 0:10:51.959 chip in for eagle on the sixteenth Hall John stash 0:10:52.000 --> 0:10:54.119 Allen Bloomberg Sports Kenn Nathan. 0:10:56.320 --> 0:11:00.720 Coast to Coast on Bloomberg Radio nationwide on series and 0:11:00.840 --> 0:11:04.079 around the world on Bloomberg dot Com and the Bloomberg 0:11:04.120 --> 0:11:06.600 Business app. This is Bloomberg Daybreak. 0:11:06.720 --> 0:11:07.160 Good morning. 0:11:07.200 --> 0:11:10.280 I'm Nathan Hager. A period of transition. It is a 0:11:10.280 --> 0:11:12.640 phrase we are hearing more from President Trump and his 0:11:12.720 --> 0:11:15.959 cabinet as on again, off again tariffs and government job 0:11:16.000 --> 0:11:19.280 cuts rattle markets. But the President says he is hesitant 0:11:19.360 --> 0:11:22.240 to predict whether his policies will lead to a recession. 0:11:22.840 --> 0:11:25.000 Of course, you hesitate. Who knows. All I know is 0:11:25.000 --> 0:11:27.680 is we're going to take in hundreds of billions of 0:11:27.760 --> 0:11:30.880 dollars in tariffs, and we're going to become so rich. 0:11:31.080 --> 0:11:33.320 You're not going to know where to spend all that money. 0:11:33.559 --> 0:11:36.280 President Trump spoke aboard Air Force one last night and 0:11:36.320 --> 0:11:38.840 this morning we were joined by Bloomberg News Senior editor 0:11:38.880 --> 0:11:41.840 Bill Ferries. So, Bill, it has been kind of on again, 0:11:41.920 --> 0:11:44.480 off again when it comes to tariffs. But when you 0:11:44.520 --> 0:11:47.360 hear the President talk about the revenues that he says 0:11:47.480 --> 0:11:50.600 that these duties could bring in, makes it sound as 0:11:50.640 --> 0:11:53.720 though he's full steam ahead when it comes to tariff's 0:11:53.920 --> 0:11:56.079 more generally the philosophy behind them. 0:11:56.080 --> 0:11:59.120 Good morning, Hey, good morning, Nathan, Thanks for having me. 0:11:59.200 --> 0:12:02.800 That's right. I mean we've seen a delay last week, 0:12:02.880 --> 0:12:05.800 you know, with some of these Mexico and Canada tariffs 0:12:05.800 --> 0:12:09.319 into April, but there are steel and aluminum tariffs coming 0:12:09.360 --> 0:12:12.439 in or do to come in this week on Wednesday. 0:12:12.840 --> 0:12:16.360 It seems to still be the biggest tool in President 0:12:16.360 --> 0:12:19.480 Trump's toolbox. And I think he's also trying to signal 0:12:19.520 --> 0:12:24.640 after we've seen the markets really reacting against the uncertainty 0:12:24.720 --> 0:12:27.800 and the tariffs, that I think he's trying to signal 0:12:27.880 --> 0:12:32.119 he's not super concerned about the stock market and its performance. 0:12:32.200 --> 0:12:34.480 He says, you know, this is a transition. We heard 0:12:34.480 --> 0:12:39.040 Commerce Secretary Howard Lutnick saying, or Scott Benson, I'm sorry, 0:12:39.040 --> 0:12:42.000 Treasury Segrey is saying that the US economy needs to 0:12:42.120 --> 0:12:46.720 detox from its dependence on government spending. So they seem 0:12:46.760 --> 0:12:50.160 to be sticking with their plan, although in Trump's first 0:12:50.240 --> 0:12:52.600 term he did care a lot about what the market did, 0:12:52.960 --> 0:12:55.480 and maybe that pain point hasn't been hit yet. 0:12:55.880 --> 0:12:58.760 Well, you hear the phrase a period of transition. What 0:12:58.960 --> 0:13:02.880 is that signal when it comes to what the President 0:13:02.880 --> 0:13:06.400 could be thinking about whether tariffs stay on more permanently. 0:13:06.440 --> 0:13:08.440 When you think about this idea that there's going to 0:13:08.440 --> 0:13:11.920 be an external revenue service as opposed to an internal 0:13:11.920 --> 0:13:16.880 revenue service, Are we transitioning from a more income tax 0:13:17.000 --> 0:13:23.720 based form of revenue bringing in or is it going 0:13:23.800 --> 0:13:25.120 to be all about tariffs now? 0:13:25.840 --> 0:13:28.560 Well, I think President Trump does see that as part 0:13:28.600 --> 0:13:32.520 of the transition, and I think he's also seen some 0:13:32.600 --> 0:13:35.880 of the turbulence we're experiencing now and possibly even a 0:13:35.880 --> 0:13:39.280 little uptick in inflation as part of that transition that 0:13:39.360 --> 0:13:43.080 will ultimately shift the US to a better place. But 0:13:43.160 --> 0:13:46.520 if you remember, in his first term, he did take 0:13:46.600 --> 0:13:49.040 that revenue, some of that revenue that was coming in 0:13:49.080 --> 0:13:51.280 from the tariffs he put in at the time, and 0:13:51.320 --> 0:13:54.440 he directed that to farmers who were getting hit with 0:13:55.200 --> 0:13:59.440 retaliatory tariffs by China. And so it wasn't necessarily that 0:13:59.520 --> 0:14:02.680 the econ ME was shifting into a different form of 0:14:02.840 --> 0:14:06.640 private sector revenue generation, but he was taking the tariff 0:14:06.679 --> 0:14:10.560 money and sending it to another group of Americans. This time, 0:14:10.640 --> 0:14:14.240 of course, economists are talking about very broad impacts from 0:14:14.320 --> 0:14:16.640 tariffs if they go into effect. I don't know if 0:14:16.640 --> 0:14:17.800 he could do the same thing. 0:14:18.679 --> 0:14:21.160 How can we see the approach to tariffs shift, if 0:14:21.200 --> 0:14:24.320 at all, Now that we have a new prime minister 0:14:24.440 --> 0:14:27.040 coming in in Canada in the form of a former 0:14:27.080 --> 0:14:30.480 Bank of England, former Bank of Canada governor Mark Carney, 0:14:30.840 --> 0:14:34.520 could a central banker bring a different approach from President Trump? 0:14:35.600 --> 0:14:37.320 Well, you know Mark Carney. 0:14:37.760 --> 0:14:41.200 He came in last night with his speech and he 0:14:41.320 --> 0:14:43.720 said that he's going to the Canada's going to sustain 0:14:43.800 --> 0:14:47.120 the tariffs they've already put. It's about twenty billion dollars, 0:14:47.120 --> 0:14:49.760 so not of a massive amount, but he said he's 0:14:49.760 --> 0:14:52.200 going to keep those in place until the US starts 0:14:52.240 --> 0:14:56.120 treating it Canada with respect and until the US basically 0:14:56.160 --> 0:15:00.480 dials back those tariffs. But in terms of leadership, and Canada. 0:15:00.560 --> 0:15:04.480 You've got a new Prime minister who was at the 0:15:04.520 --> 0:15:07.400 Bank of England during Brexit, and he was at the 0:15:07.400 --> 0:15:11.240 Bank of Canada during the global financial crisis. So in 0:15:11.360 --> 0:15:14.000 terms of the resume, it's someone who is really accustomed 0:15:14.000 --> 0:15:18.040 to dealing with economic financial crises and that could be 0:15:18.640 --> 0:15:22.359 that could help Canada navigate this situation with the Trump administration. 0:15:22.600 --> 0:15:24.800 In our last Minute Bill, we also heard the President 0:15:24.880 --> 0:15:28.200 say he's mostly lifted the freeze on intelligence sharing with Ukraine. 0:15:28.240 --> 0:15:30.200 What can we expect now that we're going to have 0:15:30.320 --> 0:15:34.120 meetings between US and Ukrainian officials on waste and the 0:15:34.120 --> 0:15:34.920 war with Russia. 0:15:35.600 --> 0:15:37.680 Well, I think a lot of people have questions about 0:15:37.720 --> 0:15:41.280 what does that mean that he's mostly lifted the freeze 0:15:41.280 --> 0:15:44.640 on intelligence sharing? But Donald Trump has signaled that he 0:15:44.720 --> 0:15:48.280 does think President Zelenski is showing a better attitude and 0:15:48.400 --> 0:15:52.800 is more willing to sign some sort of deal on 0:15:52.960 --> 0:15:56.320 critical minerals and natural resources. We still don't have a 0:15:56.360 --> 0:15:59.160 lot of details about what that agreement would be, but 0:15:59.240 --> 0:16:01.920 I think we're going to find out when President Zelensky 0:16:02.040 --> 0:16:04.520 is expected to be in Saudi Arabia meeting with US 0:16:04.560 --> 0:16:05.680 officials on Tuesday. 0:16:06.000 --> 0:16:09.400 This is Bloomberg Daybreak, your morning podcast on the stories 0:16:09.480 --> 0:16:12.520 making news from Wall Street to Washington and beyond. 0:16:12.760 --> 0:16:15.160 Look for us on your podcast feed by six am 0:16:15.200 --> 0:16:18.600 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:18.800 --> 0:16:21.640 You can also listen live each morning starting at five 0:16:21.680 --> 0:16:24.400 am Wall Street Time on Bloomberg eleven three to zero 0:16:24.400 --> 0:16:27.320 in New York, Bloomberg ninety nine to one in Washington, 0:16:27.360 --> 0:16:31.320 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:31.520 --> 0:16:33.240 XM Channel one twenty one. 0:16:33.480 --> 0:16:36.200 Plus listen coast to coast on the Bloomberg Business app 0:16:36.240 --> 0:16:39.080 now with Apple CarPlay and Android auto interfaces. 0:16:39.280 --> 0:16:42.320 And don't forget to subscribe to Bloomberg News Now. It's 0:16:42.320 --> 0:16:45.040 the latest news whenever you want it in five minutes 0:16:45.160 --> 0:16:48.280 or less. Search Bloomberg News Now on your favorite podcast 0:16:48.320 --> 0:16:52.480 platform to stay informed all day long. I'm Karen Moscow. 0:16:52.280 --> 0:16:54.800 And I'm Nathan Hager. Join us again tomorrow morning for 0:16:54.840 --> 0:16:56.760 all the news you need to start your day right 0:16:56.800 --> 0:17:05.920 here on Bloomberg day Break