Trump Looks to Tighten Chip Ban; US Sides with Russia on UN Vote

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 --> 0:00:15.160 stories we're following today. 0:00:15.360 --> 0:00:18.480 Karen, we begin with the latest on US China relations. 0:00:18.600 --> 0:00:22.400 President Donald Trump is planning to toughen Biden era controls 0:00:22.520 --> 0:00:25.599 over China's tech sector. Bloomberg News has learned the White 0:00:25.600 --> 0:00:28.840 House is sketching out more restrictive semiconductor curbs and it 0:00:28.880 --> 0:00:32.880 is pressuring key allies to escalate their own restrictions on China. 0:00:32.960 --> 0:00:35.720 We get more from Bloomberg's to mackenzie. 0:00:35.240 --> 0:00:37.480 As the existing platform that's already there that the Biden 0:00:37.479 --> 0:00:39.760 administration built, and they're looking to tighten that up, which 0:00:39.760 --> 0:00:42.600 for example, is working with the US partners like the 0:00:42.680 --> 0:00:44.440 Dutch and the Japanese. And we know officials from the 0:00:44.440 --> 0:00:47.320 Trump administration have been out to the Netherlands and to Japan, 0:00:47.640 --> 0:00:51.000 particularly Tokyo Electron in Japan and ASML in the Netherlands 0:00:51.240 --> 0:00:53.760 to put pressure on both those countries to try and 0:00:53.960 --> 0:00:57.880 limit the access that engineers from those companies have to 0:00:57.880 --> 0:01:00.280 the Chinese markets. To continue to work on the macheans 0:01:00.320 --> 0:01:02.920 and the kit that is already in situ in China. 0:01:03.160 --> 0:01:06.800 Bloomberg, Tom mackenzie says some Trump officials are also looking 0:01:06.800 --> 0:01:09.280 to further restrict the types of Nvidia chips that can 0:01:09.319 --> 0:01:11.440 be exported to China without a license. 0:01:12.200 --> 0:01:14.600 Well, Nathan, China is not the only country in the 0:01:14.600 --> 0:01:17.880 crosshairs of Trump. Is heard right here on Bloomberg Radio, 0:01:17.959 --> 0:01:21.560 the president said tariffs on imports from Mexico and Canada 0:01:21.880 --> 0:01:24.280 are on track to take effect on March fourth. 0:01:24.680 --> 0:01:30.040 The tariffs are going forward on time, on schedule. This 0:01:30.160 --> 0:01:33.279 is an abuse that took place for many, many years. 0:01:33.680 --> 0:01:36.880 And I'm not even blaming the other countries that did this. 0:01:37.200 --> 0:01:40.440 I blame our leadership for allowing it to happen. I mean, 0:01:40.640 --> 0:01:42.399 you know who can blame them if they made these 0:01:42.400 --> 0:01:44.720 great deals with the United States took advantage of the 0:01:44.840 --> 0:01:45.560 United States. 0:01:46.040 --> 0:01:50.160 Trump also said he wants to revive Canada's Excel oil pipeline. 0:01:50.160 --> 0:01:52.880 The project, which was meant to carry Canadian oil sands 0:01:52.960 --> 0:01:56.560 crew to Nebraska, became a litmus test for environmentalism under 0:01:56.640 --> 0:02:00.800 former President Obama, who rejected it in twenty fifteen. It's 0:02:00.840 --> 0:02:03.560 been subject to political jockeying ever since, and. 0:02:03.560 --> 0:02:06.160 Karen President Trump appears to be breaking even further with 0:02:06.360 --> 0:02:09.040 US allies on the war in Ukraine. At the UN 0:02:09.080 --> 0:02:12.480 General Assembly, the US joined with Russia in voting against 0:02:12.520 --> 0:02:16.919 a European resolution calling out Moscow's full scale invasion. Russia 0:02:17.040 --> 0:02:19.800 later back to US resolution calling for a swift end 0:02:19.840 --> 0:02:23.359 to the conflict without assigning blame. Meanwhile, President Trump says 0:02:23.440 --> 0:02:26.520 Ukrainian President Vladimir Zelensky could come to Washington as soon 0:02:26.520 --> 0:02:29.119 as this week to sign a deal on critical minerals. 0:02:29.480 --> 0:02:32.440 The deals being worked on, I think getting very close 0:02:32.480 --> 0:02:36.919 to getting an agreement where where we get our money 0:02:36.960 --> 0:02:39.800 back over a period of time, but it also gives 0:02:39.880 --> 0:02:42.680 us something where I think is very beneficial to their economy. 0:02:42.960 --> 0:02:46.240 President Trump spoke alongside French President Emmanuel Macron at the 0:02:46.240 --> 0:02:48.520 White House. Macrone says Europe would be willing to send 0:02:48.600 --> 0:02:52.560 peacekeepers into Ukraine after a piece is negotiated. Trump is 0:02:52.600 --> 0:02:54.639 signaling he would support that well. 0:02:54.680 --> 0:02:54.960 Nathan. 0:02:55.040 --> 0:02:59.560 Former Treasury Secretary Lawrence Summers is denouncing the Trump administration's 0:02:59.600 --> 0:03:03.800 pressure on Ukraine over its natural resources. Summers spoke with 0:03:03.880 --> 0:03:06.320 David Weston on Bloomberg's Wall Street Week. 0:03:07.000 --> 0:03:11.280 What the Trump administration seems to be proposion, and to 0:03:11.320 --> 0:03:14.760 be fair, we have not seen all the details is 0:03:15.720 --> 0:03:23.160 Versai a Versailles like agreement imposed not on aggressors, but 0:03:23.360 --> 0:03:27.720 imposed on the victims of aggression. 0:03:28.080 --> 0:03:31.880 Bloomberg contributor Larry Summers was referring to the post World 0:03:31.880 --> 0:03:35.360 War One Treaty of Versailles, which imposed strict financial and 0:03:35.400 --> 0:03:36.880 other penalties on Germany. 0:03:37.120 --> 0:03:41.160 Well Karen. Confusion reigns among federal government workers on whether 0:03:41.240 --> 0:03:44.920 to respond to a threatening email from Elon Musk. Let's 0:03:44.920 --> 0:03:48.360 get the latest from Bloomberg's John Tucker John, Good. 0:03:48.200 --> 0:03:51.800 Morning, Nathan. The deadline was just before at midnight. Musk 0:03:51.920 --> 0:03:56.000 demanded that federal employees explain their recent accomplishments or risk 0:03:56.040 --> 0:03:59.240 getting fired. Now must says federal workers are going to 0:03:59.240 --> 0:04:02.640 be given a second opportunity to respond, But the federal 0:04:02.680 --> 0:04:05.840 agency that sent the email says it's up to agency leadership, 0:04:05.920 --> 0:04:09.800 not Musk. What happens those who ignore the message. Everett Kelly, 0:04:09.880 --> 0:04:13.040 the national President of the American Federation of Government Employees, 0:04:13.360 --> 0:04:16.640 takes a pretty dim view of the tactics used by Musk. 0:04:17.200 --> 0:04:20.520 They want to confuse the workforce. 0:04:20.600 --> 0:04:22.640 They want to put fear in the minds of the 0:04:22.640 --> 0:04:24.200 workforce that they'll just quit. 0:04:24.880 --> 0:04:28.600 At least three agencies including the Justice Department, the State Department, 0:04:28.680 --> 0:04:31.719 and the Department of Defense, told their employees not to 0:04:31.760 --> 0:04:36.120 respond to musk directive, but other agencies sent the opposite message. 0:04:36.400 --> 0:04:39.640 Musk's escalating threats come as President Trump has urged him 0:04:39.680 --> 0:04:42.919 to be even more aggressive. I'm John Tucker, Bloomberg Radio. 0:04:43.200 --> 0:04:46.080 All right, John, thank you. Meanwhile, Bloomberg News has learned 0:04:46.160 --> 0:04:50.640 Musk SpaceX is seeking to deploy Starlink satellite internet terminals 0:04:50.800 --> 0:04:55.120 to help upgrade the Federal Aviation Administrations and National Airspace System. 0:04:55.440 --> 0:04:58.040 The effort raisis questions about conflicts of interest for a 0:04:58.120 --> 0:05:01.440 Musk business empire, the future of a two billion dollar 0:05:01.520 --> 0:05:05.040 contract awarded in twenty twenty three to Verizon Communications. 0:05:05.200 --> 0:05:08.080 We got some political news outside Washington, Karen. Former New 0:05:08.120 --> 0:05:10.560 York Governor Andrew Cuomo is reportedly on the verge of 0:05:10.600 --> 0:05:13.160 running for mayor of New York City. The New York 0:05:13.200 --> 0:05:16.560 Times is reporting Cuomo may announce his candidacy as soon 0:05:16.560 --> 0:05:20.000 as this weekend. Cuomo resigned from office in twenty twenty 0:05:20.040 --> 0:05:24.200 one over sexual misconduct claims. Cuomo denied the allegations. 0:05:24.400 --> 0:05:26.880 Well, I in turning to the markets, futures, they're lower 0:05:26.960 --> 0:05:29.520 this morning falling a mostly down day on Wall Street, 0:05:29.520 --> 0:05:32.279 and Bank of America says trading clients are remaining on 0:05:32.320 --> 0:05:35.880 the sidelines because of uncertainty about the Trump administration. Jim 0:05:35.920 --> 0:05:39.640 Demari lead's Bank of America's Global Markets division and spoke 0:05:39.680 --> 0:05:42.400 with The Bloomberg on the sidelines of the bank's investor 0:05:42.480 --> 0:05:43.560 summit in Dubai. 0:05:43.920 --> 0:05:46.400 Clients are doing a little bit less today than they were, 0:05:46.680 --> 0:05:48.440 let's say, when we were coming into the beginning of 0:05:48.440 --> 0:05:50.880 the year, and certainly where we were ending the fourth 0:05:50.920 --> 0:05:54.279 quarter of last year. One of the most common areas 0:05:54.040 --> 0:05:57.159 of interest and opportunity as people were thinking about potential 0:05:57.200 --> 0:06:00.560 for increasing tariffs was what markets would be impacted the most. 0:06:01.200 --> 0:06:04.640 And despite his skepticism, Bank of Americas Jim Damari expects 0:06:04.680 --> 0:06:07.560 it'll likely be a good quarter for his firm's traders, 0:06:07.600 --> 0:06:09.600 who hauled in record revenue last year. 0:06:09.839 --> 0:06:12.719 In Europe, Careen, there's a change at the top of Unilever. 0:06:12.880 --> 0:06:16.320 Chief executive officer Hein Schumacher is stepping down in a 0:06:16.320 --> 0:06:19.440 surprise move after less than two years in charge of 0:06:19.440 --> 0:06:22.719 the consumer goods business, the maker of Dove soap and 0:06:22.760 --> 0:06:25.360 Ben and Jerry's ice cream. Says Schumacher, will be replaced 0:06:25.360 --> 0:06:29.720 by Fernando Fernandez, who's currently the company's chief financial officer. 0:06:33.160 --> 0:06:34.480 And it's time to offer look at some of the 0:06:34.600 --> 0:06:37.000 their stories making news in New York and around the world. 0:06:37.000 --> 0:06:39.520 And for that we're joined by Bloomberg's Michael Barr Michael, 0:06:39.560 --> 0:06:40.600 Good Morning, Good. 0:06:40.360 --> 0:06:43.279 Morning, Karen. New York Mayor Eric Adams made it official 0:06:43.600 --> 0:06:47.080 a midtown Manhattan hotel that became the city's main intake 0:06:47.200 --> 0:06:49.040 center for migrants will be closing soon. 0:06:49.400 --> 0:06:54.040 The Roosevelt Hotel, which has served as both our asylum 0:06:54.160 --> 0:06:58.200 arrivals center in a humanitarian emergency response and relief center 0:06:58.760 --> 0:07:02.960 for nearly two years, would be closing in the coming months. 0:07:03.000 --> 0:07:06.400 Mayor Adams says for the last seven months, new arrivals 0:07:06.440 --> 0:07:10.160 have declined and therefore the Roosevelt that House migrants will 0:07:10.200 --> 0:07:14.560 be winding down its operations. Former tech entrepreneur Vivik Ramaswami 0:07:14.600 --> 0:07:17.000 announced he is running for governor of Ohio in twenty 0:07:17.040 --> 0:07:20.720 twenty six. At an event in Cincinnati, Ramaswami said he 0:07:20.800 --> 0:07:24.800 believes the Trump administration will bring positive change to the country. 0:07:25.040 --> 0:07:27.760 I'm now more optimistic than I have ever been for 0:07:27.880 --> 0:07:29.040 the future of our country. 0:07:29.120 --> 0:07:30.640 We're in the cusp of a new golden age in 0:07:30.640 --> 0:07:31.400 America right now. 0:07:31.560 --> 0:07:35.200 Ramaswami ran for the Republican presidential nomination last year, coming 0:07:35.280 --> 0:07:38.320 in foroth in the Iowa Caucuses before dropping out of 0:07:38.360 --> 0:07:41.480 the race. More than one hundred corrections officers are on 0:07:41.600 --> 0:07:46.560 strike at New York State's Coke Stackey Correctional Facility. Corrections 0:07:46.560 --> 0:07:49.760 officers been striking or picketing at about thirty prisons across 0:07:49.760 --> 0:07:52.160 the state in the past week, calling for a heightened 0:07:52.200 --> 0:07:56.880 security and a reversal of limits on solidarity confinement. Republican 0:07:57.120 --> 0:08:01.440 Assemblyman Chris Tay gave his support of the strikers. It's 0:08:01.480 --> 0:08:03.840 not just the CEOs. You're talking about. 0:08:03.600 --> 0:08:04.680 The inmates as well. 0:08:04.960 --> 0:08:08.960 There are serious safety concerns on both sides. 0:08:09.000 --> 0:08:11.640 And without these people in there doing their job, we 0:08:11.760 --> 0:08:13.400 got a very big problem on our hand. 0:08:13.560 --> 0:08:17.080 The strikes are not authorized by the Corrections Officers Union, 0:08:17.160 --> 0:08:20.000 and New York Governor Kathy Hokl announced legal action against 0:08:20.000 --> 0:08:23.280 the strikers. Thousands of people have gathered in Saint Peter's 0:08:23.280 --> 0:08:27.160 Square to pray for nailing Pope Frances, hoping for his recovery. 0:08:27.560 --> 0:08:30.040 The eighty eight year old Francis has pneumonia in both 0:08:30.120 --> 0:08:33.280 lungs and remains in critical condition, despite showing a slight 0:08:33.320 --> 0:08:36.800 improvement after eleven days in the hospital. And finally we've 0:08:36.840 --> 0:08:41.319 lost Grammy winning singer ROBERTA Flock killing. 0:08:41.080 --> 0:08:47.520 Wes killing we sal Flack, who gave us killing me 0:08:47.640 --> 0:08:49.800 Softly with his song the first Time. 0:08:49.600 --> 0:08:51.959 I ever saw your face and other hits died Monday, 0:08:52.280 --> 0:08:55.120 roberta Flock. It was eighty eight Global news twenty four 0:08:55.120 --> 0:08:57.839 hours a day and whenever you want it with Bloomberg News. Now, 0:08:57.880 --> 0:08:59.520 I'm Michael Barn. This is Bloomberg. 0:08:59.600 --> 0:08:59.840 Hearn. 0:09:00.080 --> 0:09:02.520 Yeah, that sound cuts right into my soul. Michael Barr, 0:09:02.559 --> 0:09:09.960 Thank you so much. It's thank you, Michael Barr. And 0:09:10.000 --> 0:09:12.240 it's time now for the Bloomberg Sports Update. Rocky you 0:09:12.280 --> 0:09:15.959 by try state Outie. Here's John stash Hour, John, good morning. 0:09:15.880 --> 0:09:18.760 Morning, Karen Sean, and I emerged last season as the 0:09:18.760 --> 0:09:21.200 mets best starting pitcher on twelve games. ERA was three 0:09:21.240 --> 0:09:23.079 and a half. That's why the Mets re signed him 0:09:23.080 --> 0:09:25.720 for three years seventy five million. With the left hander 0:09:25.760 --> 0:09:27.920 as an oblique strain on his right side and who 0:09:27.960 --> 0:09:30.440 was delivered yesterday in Fort Saint Lucy by Mets manager 0:09:30.520 --> 0:09:31.559 Carlos Mendoza. 0:09:32.040 --> 0:09:35.680 This was something that he felt from the beginning of 0:09:35.760 --> 0:09:37.360 camp and didn't think much of it. 0:09:37.960 --> 0:09:40.679 None of us think he was much of it either, 0:09:41.720 --> 0:09:45.480 But he kept throwing live in bullpens. 0:09:45.800 --> 0:09:48.360 But he got to a point where we thought was 0:09:48.400 --> 0:09:50.320 going to turn the corner, and that wasn't the cave. 0:09:50.320 --> 0:09:53.920 We sent him for MRI yesterday, which you know, showed. 0:09:53.559 --> 0:09:55.840 The strain and I will have to heal and get 0:09:55.880 --> 0:09:57.760 amped up. He almost certainly started the season on the 0:09:57.760 --> 0:10:00.280 injured list, and Frankie Montas to the Mets on his 0:10:00.320 --> 0:10:02.720 free agent as appled even longer with a last strain. 0:10:02.840 --> 0:10:05.480 Jose Quintana, who pitched well for the Mets last season, 0:10:05.520 --> 0:10:08.200 remains an unsigned free agent, but where it is, the 0:10:08.280 --> 0:10:11.120 Mets do not want to add any payroll. The Nets 0:10:11.160 --> 0:10:13.920 went to Washington having won seven in the last nine. 0:10:14.040 --> 0:10:16.600 They did lose earlier this month to the lowly Wizards, 0:10:16.640 --> 0:10:18.720 and they lost to them again one on seven ninety 0:10:18.760 --> 0:10:21.320 nine is the Wizard's tenth win of the season, first 0:10:21.320 --> 0:10:23.920 time all year they held an opponent under one hundred 0:10:23.960 --> 0:10:26.520 points in La. Tonight it's the Lakers and mass Luka 0:10:26.520 --> 0:10:29.480 Doncich plays his old team at ubas only the second 0:10:29.520 --> 0:10:32.440 meeting this season between the Rangers and Islanders, both on 0:10:32.559 --> 0:10:34.720 the outside looking in for a playoff spot. The new 0:10:34.760 --> 0:10:37.760 College Basketball Poll has Auburn number one and Saint John's 0:10:37.840 --> 0:10:41.280 number seven, highest ranking for the Red Storm since nineteen 0:10:41.360 --> 0:10:44.000 ninety one. Kansas began the year number one had been 0:10:44.080 --> 0:10:46.320 ranked eighty weeks in a row. Of the Jayoffs are 0:10:46.320 --> 0:10:49.200 now out of the top twenty five. The Green Bay 0:10:49.240 --> 0:10:51.840 Packers are the team leading the charge to the NFL 0:10:51.920 --> 0:10:55.320 Competition Committee asking for the end of the Tush Push, 0:10:55.400 --> 0:10:59.040 the play perfected by the Super Bowl champion Philadelphia Eagles. 0:10:59.160 --> 0:11:04.720 John Stashewer Bloomberg Sports Karen Nathan Coast to Coast on 0:11:04.800 --> 0:11:09.320 Bloomberg Radio, nationwide on Sirius Exam, and around the world 0:11:09.440 --> 0:11:12.760 on Bloomberg dot Com and the Bloomberg Business app. This 0:11:12.920 --> 0:11:14.160 is Bloomberg Daybreak. 0:11:14.320 --> 0:11:14.760 Good morning. 0:11:14.800 --> 0:11:17.760 I'm Nathan Hager. President Donald Trump is pressing ahead with 0:11:17.840 --> 0:11:20.880 plans to bring the war in Ukraine to a quick end. 0:11:21.000 --> 0:11:24.760 He says he could meet with Ukrainian President Vladimir Zelensky 0:11:24.800 --> 0:11:28.640 as soon as this week to finalize a critical minerals deal. 0:11:29.200 --> 0:11:31.880 I will be meeting with presidents of Linskin. In fact, 0:11:31.880 --> 0:11:34.440 he may come in this week or next week to 0:11:34.480 --> 0:11:37.719 sign the agreement, and which should be nice. I'd love 0:11:37.800 --> 0:11:40.040 to him what meete at the Oval Office. 0:11:40.240 --> 0:11:42.880 The President spoke there at the Oval Office alongside French 0:11:42.920 --> 0:11:46.200 President Emmanuel Macrome. But there are more signs the President 0:11:46.240 --> 0:11:49.080 could be looking to do these deals with or without 0:11:49.559 --> 0:11:53.280 European allied backing for more were joined by doctor Lindsay Newman, 0:11:53.360 --> 0:11:58.040 geopolitical risk analyst and columnist at G zero Media. Lindsay, 0:11:58.080 --> 0:12:00.400 it's good to speak with you once again. I wonder 0:12:00.440 --> 0:12:02.840 what you make of the latest moves that we're seeing 0:12:02.880 --> 0:12:06.680 from President Trump, particularly with this focus on critical minerals 0:12:06.720 --> 0:12:10.880 and these votes at the United Nations where US and 0:12:11.160 --> 0:12:14.720 Russia are aligning with each other for the first time 0:12:14.920 --> 0:12:16.079 since the war broke out. 0:12:16.120 --> 0:12:19.480 Good morning, Hi, Nathan morning, Thanks for having me back 0:12:19.520 --> 0:12:22.760 on Yes. Trump has said yesterday that he now thinks 0:12:22.760 --> 0:12:26.440 that his greatest legacy may be as a peacemaker and unifier. 0:12:27.120 --> 0:12:29.400 Think about that as we think of how far we 0:12:29.480 --> 0:12:31.600 have come. You know, we're just a little bit more 0:12:31.640 --> 0:12:34.319 than a month into this Trump two point zero administration. 0:12:34.520 --> 0:12:38.160 It's an administration that's obviously wasted no time on executing 0:12:38.280 --> 0:12:42.600 on his agenda. But the biggest geopolitical story of the 0:12:42.600 --> 0:12:45.080 week has to be what began unfolding last week with 0:12:45.160 --> 0:12:48.000 those meetings of the US delegation with the Russian delegation 0:12:48.080 --> 0:12:51.240 in Saudi, and as you say, sort of spilled over 0:12:51.480 --> 0:12:54.480 very publicly yesterday on the third anniversary of the conflict 0:12:54.800 --> 0:12:58.360 with those competing UN resolutions. It can't be understated. So 0:12:58.400 --> 0:13:01.600 we had earlier in the day General Assembly resolution which 0:13:01.720 --> 0:13:05.640 was Ukraine sponsored, and the US voted against the resolution 0:13:05.760 --> 0:13:09.160 because it merely included this phrasing of noting the full 0:13:09.200 --> 0:13:12.120 scale invasion of Ukraine by the Russian Federation. So the 0:13:12.200 --> 0:13:15.640 US voted against that and was joined by some company 0:13:15.640 --> 0:13:18.240 it usually doesn't keep Russia and North Korea. And then 0:13:18.400 --> 0:13:21.120 later in the day, the UN Security Council passed a 0:13:21.720 --> 0:13:25.360 US led resolution which was very short im about Russia's 0:13:25.360 --> 0:13:28.640 involvement in initiating the war. This was really the first 0:13:28.720 --> 0:13:33.520 UN Security Council resolution passed since the conflict, because Russia 0:13:33.520 --> 0:13:37.280 has vetoed all prior attempts. And again there the US 0:13:37.320 --> 0:13:40.280 sided with Russia and China. So we're seeing this gulf 0:13:40.320 --> 0:13:43.880 open up between the US and its European allies. It 0:13:44.840 --> 0:13:48.679 has riled Europe these stunning developments, and unfortunately for French 0:13:48.720 --> 0:13:51.559 President Emmanuel Macrone, he was in the sort of unenviable 0:13:51.559 --> 0:13:54.160 position yesterday of visiting the White House on the same 0:13:54.240 --> 0:13:57.680 day that France had abstained from supporting the US UN 0:13:57.760 --> 0:13:59.040 Security Council resolution. 0:14:00.280 --> 0:14:03.080 Is this a full scale pivot or is it just 0:14:03.720 --> 0:14:07.319 a gap between the US and Europe that can still 0:14:07.360 --> 0:14:09.520 be bridged, you. 0:14:09.480 --> 0:14:12.320 Know, I think that is the big question, because we 0:14:12.400 --> 0:14:17.400 see in the press conference yesterday between President Trump and Macron, 0:14:17.520 --> 0:14:20.200 it's very collegial, it's very friendly. It's hearkening back to 0:14:20.280 --> 0:14:23.720 the US, you know, to the French role in supporting 0:14:23.800 --> 0:14:27.360 US during its own revolution. But then what you also 0:14:27.400 --> 0:14:30.600 see is a very different lens between the two sides, 0:14:30.640 --> 0:14:33.560 between how the US is looking at the war and 0:14:33.560 --> 0:14:35.360 bringing an end to the war in Ukraine and how 0:14:36.200 --> 0:14:39.960 Europe is for Europe. From Macrone, it's all about security guarantees. 0:14:40.000 --> 0:14:41.960 I think I counted he said the word the phrase 0:14:41.960 --> 0:14:45.880 security guarantees seven times yesterday in the press conference. For Trump, 0:14:46.280 --> 0:14:49.040 it's about breaking from foreign policy of the past. He 0:14:49.160 --> 0:14:52.320 was very clear about that, and he sees this about 0:14:52.560 --> 0:14:54.880 ending the war as soon as possible to prevent a 0:14:54.880 --> 0:14:58.120 World War three. But really the key point that's very 0:14:58.120 --> 0:15:01.400 interesting that we're they're watching developed is he's looking to 0:15:01.800 --> 0:15:05.560 recoup US funding through this critical minerals deal with Ukraine, 0:15:05.720 --> 0:15:09.200 and he's even talking about perhaps re establishing ties with Russia, 0:15:09.240 --> 0:15:11.560 and Russia, for its part, seems open to it. Putin 0:15:11.720 --> 0:15:14.680 in an interview yesterday said, hey, we have critical minerals 0:15:14.720 --> 0:15:16.960 as well, perhaps more than Ukraine. We're willing to help 0:15:17.000 --> 0:15:20.960 you develop those deposits. So for Trump, as always, this 0:15:21.120 --> 0:15:24.280 is very transactional. This is about how do we bring 0:15:24.320 --> 0:15:26.120 an end to this war and what can the US 0:15:26.240 --> 0:15:28.440 and the Trump administration get out of it. For Europe, 0:15:28.440 --> 0:15:31.120 it's saying, hey, this is existential. This is about security 0:15:31.120 --> 0:15:35.280 guarantees and are and the inviolability of European borders. 0:15:35.680 --> 0:15:37.880 In our last minute, lindsay, I'll put this in the 0:15:37.880 --> 0:15:41.880 context of the continued pressure that we're seeing for President 0:15:41.920 --> 0:15:44.720 Trump when it comes to tariff saying that tariffs on 0:15:44.760 --> 0:15:47.280 Canada and Mexico are still on tracks, still talking about 0:15:47.320 --> 0:15:51.120 reciprocal tariffs, and now continuing to apply pressure on China 0:15:51.120 --> 0:15:52.520 when it comes to CHIP access. 0:15:52.960 --> 0:15:53.200 Yeah. 0:15:53.240 --> 0:15:56.000 Absolutely, So there's been some big pronouncements over the last 0:15:56.000 --> 0:15:59.760 couple of days, including this National Security Presidential Memorandum, which 0:15:59.800 --> 0:16:02.600 we be looking at very closely because it's really the 0:16:02.600 --> 0:16:06.000 first big tenant piece from this administration on China. But 0:16:06.160 --> 0:16:09.760 as you say, Trump administration has put in policy, it's 0:16:09.800 --> 0:16:12.000 put in place its trade policy, it makes clear that 0:16:12.080 --> 0:16:15.920 it's going to go after allies and adversaries alike. And 0:16:16.560 --> 0:16:19.160 you know, so this is about not just a China 0:16:19.200 --> 0:16:21.960 story anymore. This is about looking at the global landscape 0:16:22.000 --> 0:16:25.360 and seeing how can the US best position itself under 0:16:25.360 --> 0:16:27.600 Donald Trump for its economic future. 0:16:27.800 --> 0:16:31.200 This is Bloomberg Daybreak, your morning podcast on the stories 0:16:31.280 --> 0:16:34.280 making news from Wall Street to Washington and beyond. 0:16:34.560 --> 0:16:36.960 Look for us on your podcast feed by six am 0:16:37.000 --> 0:16:40.400 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:40.600 --> 0:16:43.480 You can also listen live each morning starting at five 0:16:43.480 --> 0:16:46.200 am Wall Street time on Bloomberg eleven three to zero 0:16:46.200 --> 0:16:49.120 in New York, Bloomberg in ninety nine to one in Washington, 0:16:49.160 --> 0:16:53.120 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:53.320 --> 0:16:55.040 XM Channel one twenty one. 0:16:55.280 --> 0:16:58.000 Plus listen coast to coast on the Bloomberg Business app. 0:16:58.040 --> 0:17:00.800 Now with Applecarplay and Android dot interfaces. 0:17:01.080 --> 0:17:04.120 And don't forget to subscribe to Bloomberg News Now. It's 0:17:04.119 --> 0:17:06.879 the latest news, whenever you want it in five minutes 0:17:06.960 --> 0:17:10.080 or less. Search Bloomberg News Now and your favorite podcast 0:17:10.119 --> 0:17:12.280 platform to stay informed all day long. 0:17:12.640 --> 0:17:15.760 I'm Karen Moscow and I'm Nathan Hager. Join us again 0:17:15.800 --> 0:17:17.880 tomorrow morning for all the news you need to start 0:17:17.920 --> 0:17:20.040 your day right here on Bloomberg Daybreak