Blinken Warns Israel; US Raises Concerns Over China AI

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:10.039 --> 0:00:12.840 Good morning, I'm Nathan Hager and I'm John Tucker. Here 0:00:12.840 --> 0:00:14.440 are the stories we're following today. 0:00:14.560 --> 0:00:16.720 John, we begin with the latest developments in the war 0:00:16.760 --> 0:00:19.079 in the Middle East and a warning from Secretary of 0:00:19.120 --> 0:00:22.400 State Anthony Blincoln. He says Israel risks fueling a Hamas 0:00:22.520 --> 0:00:27.000 insurgency in post war Gaza. Blinken cautions there will still 0:00:27.040 --> 0:00:30.280 be thousands of armed militants in the area even if 0:00:30.440 --> 0:00:33.040 Israel invades the city of Rafa. 0:00:33.479 --> 0:00:37.400 Israel's on the directory, potentially to inherit an insurgency with 0:00:37.479 --> 0:00:41.440 many armed moss left, or if it leaves a vacuum 0:00:41.479 --> 0:00:45.320 filled by chaos, filled by anarchy, and probably refilled by Amas. 0:00:45.840 --> 0:00:48.919 Secretary of State Blincoln added the Biden administration has not 0:00:49.040 --> 0:00:52.400 seen a credible Israeli planned to shield civilians in a 0:00:52.520 --> 0:00:55.600 Rafa assault. He made the comments on NBC's Meet the Press, 0:00:56.000 --> 0:00:58.840 Catch the program Sundays on Bloomberg Radio. 0:00:59.080 --> 0:01:01.800 And camps Protest so for the War in Gazick Colliding 0:01:01.840 --> 0:01:08.640 with college graduation season, comedian Jerry Seinfeld was the commencement 0:01:08.680 --> 0:01:12.039 speaker at Duke University this weekend. About thirty students walked out, 0:01:12.120 --> 0:01:15.640 chanting Free Palestine and waving flags when he was introduced 0:01:15.880 --> 0:01:19.080 with Seinfeld didn't address the protests. A small group of 0:01:19.120 --> 0:01:22.839 demonstrators also showed up at UC Berkeley's commencement on Saturday, 0:01:23.120 --> 0:01:26.720 but the university says the protesters left voluntarily and nobody 0:01:26.800 --> 0:01:30.759 was arrested. More schools have threatened student protesters with arrest 0:01:30.880 --> 0:01:34.720 or expulsion if they don't clear out pro Palestini encampments 0:01:34.920 --> 0:01:36.880 ahead of graduation ceremonies. 0:01:37.000 --> 0:01:39.800 The meantime, John Bloomberg News has learned that President Biden 0:01:39.880 --> 0:01:43.880 is going to quadruple tariffs on Chinese electric vehicles this 0:01:43.959 --> 0:01:47.840 week and sharply increase levies for other key industries. Bloomberg's 0:01:47.880 --> 0:01:51.080 chief North Asia correspondent Steven Engel has the details. 0:01:51.280 --> 0:01:53.640 The announcement could come as early as Tuesday in the 0:01:53.720 --> 0:01:56.560 United States tomorrow, but there could be seeing a doubling 0:01:56.880 --> 0:01:59.880 or even a tripling of other target industries and products 0:02:00.400 --> 0:02:05.480 like batteries like solar cells, steel and aluminum already been targeted. 0:02:05.640 --> 0:02:07.960 Whether there's going to be an increase there, but again 0:02:08.000 --> 0:02:11.320 these products are not imported into the United States in 0:02:11.400 --> 0:02:12.280 great volumes. 0:02:12.440 --> 0:02:15.360 Bloomberg Steven Engel also points out that Biden's plan for 0:02:15.440 --> 0:02:19.080 more tariffs is mostly symbolic, as China does not rely 0:02:19.280 --> 0:02:22.040 on US consumers in those sectors. 0:02:21.720 --> 0:02:25.160 And in another development, US officials intend to highlight security 0:02:25.160 --> 0:02:30.160 concerns with China's development of artificial intelligence. Senior Administration officials 0:02:30.200 --> 0:02:33.240 say the emerging technology will be a major topic when 0:02:33.320 --> 0:02:36.480 representatives of the US and China meet tomorrow in Geneva. 0:02:36.800 --> 0:02:40.160 The meeting initiates talks agreed to last year by President 0:02:40.160 --> 0:02:43.959 Biden and Shijing Ping to address security and safety concerns 0:02:43.960 --> 0:02:48.519 over AI. Even as the two countries intensify their competition 0:02:48.639 --> 0:02:49.799 in that sphere. 0:02:49.560 --> 0:02:52.480 Well, President Biden could face an uphill battle john convincing 0:02:52.560 --> 0:02:54.840 voters the economies headed in the right direction. 0:02:55.000 --> 0:02:56.360 That's what the latest. 0:02:56.000 --> 0:02:59.120 Polling is indicating, and we get the numbers from Bloomberg's 0:02:59.160 --> 0:02:59.799 Dan Schwartzman. 0:03:00.240 --> 0:03:03.160 A new poll from the Financial Time shows that President 0:03:03.240 --> 0:03:06.800 Biden's prospects for reelection are being dampened by voters' concerns 0:03:06.840 --> 0:03:10.040 over inflation. According to the latest from the FT Michigan 0:03:10.120 --> 0:03:13.040 Ross poll, high prices are one of the biggest challenges 0:03:13.080 --> 0:03:16.560 for eighty percent of voters. People disapproving of Biden's handling 0:03:16.600 --> 0:03:19.480 of the economy increased in one month, from fifty five 0:03:19.520 --> 0:03:22.560 percent to fifty eight percent. The poll also showed that 0:03:22.680 --> 0:03:25.960 voters blamed Biden for higher gas and food prices without 0:03:26.000 --> 0:03:28.760 giving him any credit for a strong jobs market and 0:03:28.800 --> 0:03:32.280 a booming economy. Dan Schwartzman, Bloomberg Radio, and. 0:03:32.200 --> 0:03:34.679 We now turn to the latest developments in the criminal 0:03:34.720 --> 0:03:38.640 trial involving Donald Trump, lead star prosecution witness in the 0:03:38.720 --> 0:03:41.200 hush money trials set to take the stand today. We 0:03:41.320 --> 0:03:43.960 get the latest from Bloomberg Law host June Grosso in 0:03:44.040 --> 0:03:44.480 New York. 0:03:44.800 --> 0:03:49.280 On Friday, jurors saw Donald Trump's twenty eighteen tweets defending 0:03:49.320 --> 0:03:52.560 one hundred and thirty thousand dollars hush money agreement with 0:03:52.640 --> 0:03:57.800 adult phil mactress Stormy Daniels ahead of potentially explosive testimony 0:03:57.840 --> 0:04:01.560 from Michael Cohen, the star process cution witness who made 0:04:01.560 --> 0:04:04.720 the payment on Trump's behalf. Prosecutors have been laying the 0:04:04.760 --> 0:04:08.240 groundwork for Cohen's testimony because he comes to the s 0:04:08.280 --> 0:04:11.080 down with a lot of baggage that will surely be 0:04:11.160 --> 0:04:16.040 explored on cross examination. In New York, June Grosso, Bloomberg Radio. 0:04:15.960 --> 0:04:18.240 And June That's not the only high profile core case 0:04:18.240 --> 0:04:21.520 happening in Manhattan today. Opening statements are set to begin 0:04:21.640 --> 0:04:26.799 in the trial of Our Chagos founder Bill Wong on fraud, racketeering, conspiracy, 0:04:27.160 --> 0:04:31.280 and market manipulation charges. Bloombrigs Shanelli Bassett is covering that 0:04:31.360 --> 0:04:33.080 case and brings us this preview. 0:04:33.360 --> 0:04:35.799 In one of the most highly watched white collar crime 0:04:35.839 --> 0:04:39.120 cases in recent history, Bill Wang, the founder of Our 0:04:39.160 --> 0:04:42.279 Chagos Capital Management, is set to face trial today in 0:04:42.360 --> 0:04:45.920 Manhattan Federal Court, where jury trial will begin. The Justice 0:04:45.920 --> 0:04:48.200 Department is set to lay out an argument in a 0:04:48.320 --> 0:04:52.120 high stakes debate where Bill Wang is expected to defend 0:04:52.200 --> 0:04:56.400 himself vigorously, even drawing concerns about the banks themselves which 0:04:56.440 --> 0:04:59.880 had lost so much money as Our Chagos collapsed, including 0:05:00.200 --> 0:05:04.039 it SWEE, which later failed in New York. Shanali Bassic 0:05:04.120 --> 0:05:04.920 Bloomberg Radio. 0:05:05.120 --> 0:05:08.040 I think Shanali and turning to the market's futures higher 0:05:08.080 --> 0:05:10.360 as we begin a new trading week against and P 0:05:10.440 --> 0:05:13.479 five hundred, coming off its third straight week of gains. 0:05:13.800 --> 0:05:17.440 That's the longest winning run since February. Meanwhile, the Dow 0:05:17.600 --> 0:05:22.960 has gained for rising eight straight sessions, and Alan Zaffron 0:05:23.000 --> 0:05:26.400 the co CEO to I EQ Capital says, there's a 0:05:26.400 --> 0:05:28.720 lot of momentum behind the latest rally. 0:05:28.880 --> 0:05:31.200 Everyone's been worried about the Feds get a cut rates, 0:05:31.200 --> 0:05:32.880 cut rates, so it won't cut rates. Oh my gosh, 0:05:32.920 --> 0:05:35.920 I have to reprice my models. But stocks keep going 0:05:36.000 --> 0:05:38.640 up anyway. And I think the lesson learned is the 0:05:38.680 --> 0:05:41.960 economy isn't as interest rates sensitive as it used to be, 0:05:42.320 --> 0:05:45.359 and there was so much money thrown at corporations and 0:05:45.400 --> 0:05:48.479 individuals through COVID that it has a lot of pent 0:05:48.600 --> 0:05:51.520 up cash on the sidelines, ready to buy any asset 0:05:51.560 --> 0:05:52.239 at any drop. 0:05:52.480 --> 0:05:55.800 Alan Zaffren at I EQ Capital says the big event 0:05:55.839 --> 0:05:57.840 for the markets this week likely is going to be 0:05:57.920 --> 0:05:59.920 Wednesday's consumer price print. 0:06:00.200 --> 0:06:03.680 Company news John, Amazon, Pfizer, Microsoft, and Morgan Stanley are 0:06:03.680 --> 0:06:07.680 among companies poised to boost their presence in France. President 0:06:07.760 --> 0:06:10.400 Dmanuel macrom is hosting one hundred and eighty CEOs and 0:06:10.480 --> 0:06:13.960 executives for the Choose France Summit. Flagship event is now 0:06:13.960 --> 0:06:16.040 in its seventh year. It's part of a push by 0:06:16.080 --> 0:06:20.560 the mcron government to reindustrialize the country, simplify its regulations 0:06:20.600 --> 0:06:23.240 to attract foreign companies and make it a financial hub 0:06:23.279 --> 0:06:27.440 for the post Brexit European Union. Stick with Bloomberg this afternoon, 0:06:27.480 --> 0:06:30.039 President Macrome's going to sit down with Bloomberg News editor 0:06:30.040 --> 0:06:33.039 in chief John Micklethwaite for what we expect will be 0:06:33.080 --> 0:06:35.640 a very wide ranging interview. That's coming up at one 0:06:35.720 --> 0:06:37.880 pm Wall Street Time, and you can hear it on 0:06:37.920 --> 0:06:40.680 Bloomberg Radio and watch it on Bloomberg Television. 0:06:40.920 --> 0:06:43.920 And Nathan, if you're hitting the road this Memorial Day, 0:06:44.000 --> 0:06:46.279 you're certainly not alone. In fact, Triple A expects about 0:06:46.400 --> 0:06:49.400 for thirty eight point four million people will drive the 0:06:49.440 --> 0:06:52.159 holiday weekend. That's the most in more than two decades 0:06:52.160 --> 0:06:54.960 of data tracking the holidays travel numbers. Triple A is 0:06:54.960 --> 0:06:57.599 saying almost forty four billion people Little bark On trips 0:06:57.600 --> 0:07:02.080 of all forums, it's the highest second highest number TRIPAA 0:07:02.240 --> 0:07:05.599 has seen since two thousand and five, when consumer sentiment 0:07:05.720 --> 0:07:08.320 had recovered from the September eleventh, two thousand and one 0:07:08.320 --> 0:07:10.880 attacks and had yet to be royal by the two 0:07:10.920 --> 0:07:16.960 thousand and eight financial crisis. Yeah, that brings us to 0:07:16.960 --> 0:07:18.720 five a weight on Wall Street Time. Now for a 0:07:18.720 --> 0:07:20.440 look at some of the other stories making news in 0:07:20.440 --> 0:07:23.200 New York and around the world. For that We're joined 0:07:23.200 --> 0:07:26.400 by Bloomberg's Michael Barr. Michael, good morning, Good morning John. 0:07:26.440 --> 0:07:29.720 The bribery trial of US Senator Robert Menendez of New 0:07:29.800 --> 0:07:34.480 Jersey begins this morning in Manhattan. Menendez has defied calls 0:07:34.480 --> 0:07:37.520 to resign from the Senate. The seventy year old democrat 0:07:37.600 --> 0:07:40.680 and his wife are accused of accepting bribes from three 0:07:40.800 --> 0:07:45.640 wealthy businessmen in return for favors. Accusations include meddling in 0:07:45.720 --> 0:07:50.840 criminal investigations and taking actions benefiting the governments of Egypt 0:07:50.920 --> 0:07:54.320 and Cutter. The Fed say they found stacks of cash 0:07:54.400 --> 0:07:58.160 and gold bars in Menendez's house. The senator is pleaded 0:07:58.200 --> 0:08:00.960 not guilty. There has been a major shuffle in the 0:08:01.080 --> 0:08:05.520 Russian government. President Vladimir Putin has tapped a civilian economist 0:08:06.000 --> 0:08:10.520 as his surprise. New Defense Minister Andre Belusov is to 0:08:10.560 --> 0:08:15.880 replace Sergei Shoigu. Shawshank Joshi with The economist tells us 0:08:16.040 --> 0:08:18.760 Shoigu had been in the job since twenty twelve. 0:08:18.960 --> 0:08:21.640 I'm not surprised he's being moved on. I am perhaps 0:08:21.680 --> 0:08:24.160 a little bit more surprised we're seeing an economists go 0:08:24.200 --> 0:08:27.800 into that post. But it is worth remembering that Shoigu's predecessor, 0:08:28.400 --> 0:08:32.480 Anatoly Sadukov. He was also a business figure. He was 0:08:32.520 --> 0:08:33.520 Minister of Taxes. 0:08:34.360 --> 0:08:38.600 Shoigu's deputy was arrested last month on bribery charges. The 0:08:38.640 --> 0:08:42.200 controlled demolition to remove a portion of Baltimore's Francis scott 0:08:42.240 --> 0:08:45.760 Key Bridge is scheduled for today. It was postponed yesterday 0:08:45.880 --> 0:08:50.040 due to lightning. Meanwhile, cruises have been rerouted to Norfolk 0:08:50.160 --> 0:08:54.360 because of the bridge collapse. Carnival Cruise Lines has announced 0:08:54.400 --> 0:08:58.240 that it is planning to embark guests on Carnival Pride 0:08:58.280 --> 0:09:02.080 May nineteenth cruise in Norfolk, Virginia, but expects to end 0:09:02.160 --> 0:09:05.840 sailing in Baltimore, Regina. Ali with the Triple A in 0:09:05.880 --> 0:09:08.800 Baltimore went on a cruise March twenty fourth, not aware 0:09:09.440 --> 0:09:11.439 she was on one of the last ones to sail 0:09:11.480 --> 0:09:14.280 under the bridge. The captain announced later that the bridge 0:09:14.320 --> 0:09:17.640 had collapsed and would likely impact their return to Baltimore. 0:09:17.920 --> 0:09:21.240 No one expected that when we left Baltimore and now 0:09:21.280 --> 0:09:23.720 on March twenty fourth, that we were going to be 0:09:23.760 --> 0:09:27.400 the last Carnival ship sailing under the Francis Skoykey Bridge. 0:09:27.679 --> 0:09:31.120 Officials expect the Dolly the ship that crashed into the 0:09:31.200 --> 0:09:34.960 Key Bridge to be moved back to the Port of Baltimore. Finally, 0:09:35.000 --> 0:09:38.319 actor Steve Bousham he was assaulted in Manhattan. Police say 0:09:38.320 --> 0:09:40.800 of the sixty six year old Brooklyn native was walking 0:09:40.840 --> 0:09:44.000 when he was randomly punched. Bousham He was taken to 0:09:44.040 --> 0:09:47.280 a hospital for bruising, swelling, and bleeding to his left eye. 0:09:47.480 --> 0:09:51.839 The actor's publicist says Bushaming is okay and appreciates everyone's 0:09:51.960 --> 0:09:55.520 well wishes. The attacker hasn't been caught yet. Global News 0:09:55.559 --> 0:09:57.600 twenty four hours a day and whenever you want it 0:09:57.640 --> 0:10:00.360 with the Bloomberg News. Now, I'm Michael Barr, and this 0:10:00.440 --> 0:10:01.520 is Bloomberg John. 0:10:01.600 --> 0:10:07.839 Michael, thank you. Oh yeah, there's now five The Love 0:10:07.880 --> 0:10:10.559 About Wall Street. That's the time for the Bloomberg Sports Day, 0:10:10.679 --> 0:10:13.520 Dan for that. Good morning, John, Stencharmark. 0:10:13.080 --> 0:10:13.960 Hacking Morning John. 0:10:14.000 --> 0:10:17.240 Fifth worst playoff loss in Knick's history, Game four at Indiana. 0:10:17.320 --> 0:10:20.280 They trailed the Pacers by twenty in the first quarter, 0:10:20.360 --> 0:10:22.960 by thirty in the second, The Pacers lead grew to 0:10:23.040 --> 0:10:26.400 forty three Indiana one one twenty one to eighty nine 0:10:26.400 --> 0:10:28.800 to tie the series. Of two Pacers made their shots, 0:10:29.160 --> 0:10:32.240 Nicks missed theirs. They missed thirty three pointers. The Villanova 0:10:32.240 --> 0:10:35.360 trio Jalen Bruns and Josh r Dunte Ne Vincenzo together 0:10:35.440 --> 0:10:37.960 shot ten for thirty six, made only one three game 0:10:38.040 --> 0:10:39.320 fives tomorrow. 0:10:38.840 --> 0:10:41.240 With the Garden. That's where Knicks coach Tom Thibodeaux is 0:10:41.280 --> 0:10:42.359 looking towards. 0:10:42.679 --> 0:10:45.200 We can't have a hangover. 0:10:45.320 --> 0:10:47.240 We got to fix it and we have to come 0:10:47.280 --> 0:10:50.960 with a will and determination to respond to what happened, 0:10:51.240 --> 0:10:54.320 and I think the biggest thing, and this team has 0:10:54.360 --> 0:10:58.000 responded all year, So that's what we're expecting to do. 0:10:58.080 --> 0:10:59.520 We got to put the work into it and be 0:10:59.600 --> 0:11:00.000 ready to. 0:11:00.480 --> 0:11:02.679 The home teams won every game in the West. The 0:11:02.800 --> 0:11:05.600 road teams won every game. Is Denver won again at 0:11:05.600 --> 0:11:08.480 Minnesota one fifteen, one oh seven. Okolio could scored thirty 0:11:08.480 --> 0:11:10.480 five and then win. Anthony Edwards had forty four in 0:11:10.480 --> 0:11:13.600 the lost. The Atlanta Hawks had a three percent chance 0:11:13.600 --> 0:11:15.080 of winning the NBA Draft lottery. 0:11:15.160 --> 0:11:17.880 They won it. They'll have the first pick Saley got. Playoffs. 0:11:17.880 --> 0:11:20.679 Florida won again in Boston, three to two. A disputed 0:11:20.760 --> 0:11:24.559 go ahead third period goal. Bruins Felt and Alexander Barkoff 0:11:24.720 --> 0:11:25.920 crosscheck allowed. 0:11:25.720 --> 0:11:27.880 Him to score Panthers now leave the series three to one. 0:11:27.920 --> 0:11:31.000 In the Battle of Western Canada, Vancouver won four to 0:11:31.040 --> 0:11:32.760 three at Edmonton for two to one Lee. 0:11:32.880 --> 0:11:34.160 The Rangers are up three to one. 0:11:34.360 --> 0:11:37.160 They'll host Carolina tonight at Cityfield. Mets were two outs 0:11:37.160 --> 0:11:40.200 from getting swept by Atlanta. Brandon Nimmo will a walk 0:11:40.200 --> 0:11:42.280 off pinch hit two run over bottle of the ninth 0:11:42.360 --> 0:11:43.400 Mets one four to three. 0:11:43.800 --> 0:11:45.920 Yankees blew most of US six to nothing. 0:11:46.000 --> 0:11:46.200 League. 0:11:46.280 --> 0:11:48.440 They hit five home runs. They won ten six. At 0:11:48.440 --> 0:11:50.960 Tampa Bay, the Red Sox top the Nationals three to two. 0:11:51.080 --> 0:11:54.679 Rory McElroy seventeen under par. He won in Charlotte by 0:11:54.720 --> 0:11:56.800 five shots. That's even with a double bogie on the 0:11:56.800 --> 0:11:59.000 final hole. It's the fourth time that he's. 0:11:58.880 --> 0:12:01.760 Won at Quail. Hello, John Stashdamit Bloomberg Sports. 0:12:01.800 --> 0:12:08.440 Johnny Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, 0:12:08.640 --> 0:12:09.439 and around. 0:12:09.200 --> 0:12:12.760 The world on Bloomberg dot Com and the Bloomberg Business app. 0:12:13.000 --> 0:12:16.360 This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. 0:12:16.400 --> 0:12:18.600 The US could be facing new friction over the Middle 0:12:18.640 --> 0:12:21.480 East and Asia, with the State Department offering a further 0:12:21.600 --> 0:12:25.680 rationale for President Biden's decision to withhold offensive weapons for Israel, 0:12:25.960 --> 0:12:28.960 and new details coming up about the president's tariff's plans 0:12:29.360 --> 0:12:31.640 for China. For more on all this, we're joined now 0:12:31.679 --> 0:12:35.240 by Bloomberg News Senior editor Bill Ferries. Bill, good morning. 0:12:35.559 --> 0:12:37.920 So we heard over the weekend from Secretary Blincoln on 0:12:37.960 --> 0:12:40.440 the Sunday Show seeming to prad Israel to think more 0:12:40.480 --> 0:12:43.000 about what the conduct of this war could mean for 0:12:43.120 --> 0:12:45.599 Gaza post war. What do you make of some of 0:12:45.640 --> 0:12:47.679 the Secretary's latest comments. 0:12:47.920 --> 0:12:51.040 Well, thanks for having me. The criticism from the administration 0:12:51.320 --> 0:12:54.120 just continues to ramp up. We heard Secretary of Blincoln 0:12:54.160 --> 0:12:57.319 this weekend saying that even if Israel goes in and 0:12:57.480 --> 0:13:00.839 takes heavy action and goes after the these brigades of 0:13:01.880 --> 0:13:05.000 of Hamas militants that it believes are kind of hold 0:13:05.080 --> 0:13:07.200 up there, he said, there's still going to be thousands 0:13:07.280 --> 0:13:11.600 of supporters left, armed supporters, armed militants, and that Israel 0:13:11.679 --> 0:13:15.160 is going to is basically going to inherit an insurgency 0:13:15.600 --> 0:13:18.319 that's going to dog it potentially for years after this 0:13:18.480 --> 0:13:23.480 operation concludes. The Administration is still very focused on trying 0:13:23.559 --> 0:13:26.240 to prevent Israel from going in with a you know, 0:13:26.360 --> 0:13:27.640 a full ground invasion. 0:13:28.160 --> 0:13:28.280 Uh. 0:13:28.360 --> 0:13:30.160 They also want to try to see some of these 0:13:30.200 --> 0:13:32.600 talks that have been on and off again in Qatar 0:13:32.760 --> 0:13:35.680 and then UH and then in Cairo get a little 0:13:35.720 --> 0:13:37.000 more momentum behind them. 0:13:37.440 --> 0:13:37.560 UH. 0:13:37.679 --> 0:13:40.360 And they say they still haven't seen a plan to 0:13:40.559 --> 0:13:44.600 help help move these The civilian population that has basically 0:13:44.760 --> 0:13:49.640 been trapped in in Rafa largely for several weeks now 0:13:49.960 --> 0:13:52.520 hasn't seen a plan for how to get them safely out. 0:13:52.960 --> 0:13:55.800 Israel says about three hundred thousand of those people have left, 0:13:56.320 --> 0:13:59.040 but it's not really clear if they're Some of the 0:13:59.120 --> 0:14:01.800 areas they have to traps through are still basically a 0:14:01.840 --> 0:14:04.880 war zone, and they're not going to areas that are 0:14:05.080 --> 0:14:08.480 necessarily in any condition to accept tens of thousands or 0:14:08.559 --> 0:14:10.840 hundreds of thousands of more internal refugees. 0:14:11.120 --> 0:14:13.240 On top of all this, we're getting a little bit 0:14:13.280 --> 0:14:16.880 more color bill on some reporting that Bloomberg News did 0:14:16.960 --> 0:14:21.800 last week about President Biden's plans to pretty significantly increase 0:14:22.000 --> 0:14:23.840 tariffs on certain Chinese goods. 0:14:24.440 --> 0:14:27.360 Right, we knew that there were likely tariffs coming for 0:14:27.600 --> 0:14:33.440 things like electric vehicles, batteries, some components in solar panel industry. 0:14:33.880 --> 0:14:37.400 We had also heard about steeling Alunum. But the headline number, 0:14:37.480 --> 0:14:40.080 as you were hinting at there, was really the Chinese 0:14:40.120 --> 0:14:44.280 electric vehicles. The tariff jumping likely jumping from twenty seven 0:14:44.360 --> 0:14:46.600 and a half percent to one hundred and two zero 0:14:46.640 --> 0:14:50.120 point five percent. So basically whatever the price would be 0:14:50.200 --> 0:14:53.320 on import doubling. Now as you and I know you 0:14:53.440 --> 0:14:55.800 can't know, you can't go out there and buy bid 0:14:56.080 --> 0:14:58.760 vehicles in the United States at this point. The tariffs 0:14:58.800 --> 0:15:03.280 that were in place, we're basically prohibiting that already. This 0:15:03.520 --> 0:15:06.080 makes it. I think this puts all that further out 0:15:06.120 --> 0:15:11.040 of reach in some ways symbolic both of the presidential 0:15:11.120 --> 0:15:16.040 campaign that's going on and this continuing heightened tensions between 0:15:16.280 --> 0:15:19.160 the US and China in the middle of a campaign 0:15:19.200 --> 0:15:22.480 where I think both parties, both presidential candidates want to 0:15:22.480 --> 0:15:24.120 show how tough they can be on Beijing. 0:15:24.400 --> 0:15:26.400 I'll think about thirty seconds left here, billb But can 0:15:26.440 --> 0:15:28.880 we see more of those tensions play out when US 0:15:28.960 --> 0:15:32.520 and Chinese officials are scheduled to meet in Geneva tomorrow. 0:15:32.960 --> 0:15:36.240 So we're expecting this meeting in Geneva to talk about 0:15:36.400 --> 0:15:40.880 artificial intelligence, the development of that industry, the expectation is 0:15:40.960 --> 0:15:43.320 you could start to have the world's two biggest economies 0:15:43.600 --> 0:15:48.000 talk about putting some guardrails and general regulations on how 0:15:48.120 --> 0:15:50.720 AI develops. The US is going to go into it, 0:15:50.800 --> 0:15:54.640 according to our reporting, with a big focus on concerns 0:15:54.720 --> 0:15:59.320 about how China's development may be undermining the national security 0:15:59.360 --> 0:16:02.640 of both the United States and many other nations out there. 0:16:03.000 --> 0:16:05.440 So on the one hand, that's good they're having these talks, 0:16:05.560 --> 0:16:07.040 so on the other hand, it's probably going to be 0:16:07.040 --> 0:16:08.040 a difficult conversation. 0:16:08.400 --> 0:16:11.400 This is Bloomberg Daybreak Today, your morning brief on the 0:16:11.480 --> 0:16:14.840 stories making news from Wall Street to Washington and beyond. 0:16:15.040 --> 0:16:17.320 Look for us on your podcast feed by six am 0:16:17.440 --> 0:16:21.120 Eastern each morning, on Apples, Spotify, and anywhere else you 0:16:21.240 --> 0:16:22.320 get your podcasts. 0:16:22.600 --> 0:16:25.280 You can also listen live each morning starting at five 0:16:25.320 --> 0:16:27.920 am Wall Street Time on Bloomberg eleven three to zero 0:16:28.000 --> 0:16:30.760 in New York, Bloomberg ninety nine to one in Washington, 0:16:30.920 --> 0:16:33.800 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:33.880 --> 0:16:35.520 nine sixty in San Francisco. 0:16:35.840 --> 0:16:38.480 Our flagship New York station is also available on your 0:16:38.520 --> 0:16:42.960 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty. 0:16:43.160 --> 0:16:46.040 Plus listen coast to coast on the Bloomberg Business app, 0:16:46.160 --> 0:16:50.000 Sirius xmb iHeartRadio app, and on Bloomberg dot Com. 0:16:50.160 --> 0:16:52.680 I'm Nathan Hager and I'm John Tucker. Join us again 0:16:52.720 --> 0:16:54.760 tomorrow morning for all the news you need to start 0:16:54.800 --> 0:16:57.080 your day right here on Bloomberg day Break 0:17:13.280 --> 0:17:13.840 Every day