Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a preview of next week’s Fed decision and earnings from FedEx. In the UK – a preview of Morgan Stanley’s European Financials Conference. In Asia – a preview of Tencent earnings and the next BOJ decision.  See omnystudio.com/listener for privacy information.

The podcast dives into the escalating trade war, highlighting President Trump's threat of a 200% tariff on European wines and the global economic fallout. The European Central Bank's concerns about trade conflicts affecting growth are explored. Wall Street faces turmoil as the S&P 500 enters correction territory. Amidst these tensions, political maneuvering in the U.S. Senate aims to avoid a government shutdown. Meanwhile, there's talk of ceasefire negotiations in Ukraine, adding to the intricate web of global relations.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump said the US would respond to the European Union’s countermeasures against his new 25% tariffs on steel and aluminum, raising the risk of further escalation in his global trade war. (2) Ozempic-maker Novo Nordisk is planning to make more of its medicines for the US market in the country; Boeing risks a gummed up supply chain and higher aircraft costs it may not be able to pass on; Chinese online retailer Shein is offering incentives to its top apparel providers to set up new production capacity in Vietnam. (3) Senate Democratic leader Chuck Schumer said his party would block a Republican spending bill to avert a government shutdown on Saturday and urged the GOP to accept a Democratic plan to provide funding through April 11 instead. (4) The correction in the US stock market may be complete as credit markets aren’t pricing in recession risks, according to JPMorgan Chase.  (5) The UK and France are scrambling to bolster Ukraine’s negotiating position as US President Donald Trump seeks to force through a settlement in its war with Russia. (6) London is expected to record the largest drop in house prices in the UK in the near term, according to property agents, as the capital is disproportionately hit by economic uncertainty and higher taxes. (7) Bloomberg has learned that investors are quietly betting that Donald Trump's overtures to Moscow will eventually translate into Russia's return to the global financial markets.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump’s 25% tariffs on steel and aluminum imports came into force Wednesday, triggering a reprisal from the European Union as the global trade war enters a new and risky phase.(2) The latest US tariffs — which were applied without exemptions — kicked in after a tumultuous day at the White House, when Trump threatened to double the metals tariffs on Canada to 50%, only to back off when Ontario agreed to drop plans to impose a surcharge on electricity sent to the US — all while downplaying the risk of a tariff-led recession that has sent US markets plunging.(3) Goldman Sachs has lowered its target for the US equity benchmark in a further sign of growing skepticism on the outlook of the world’s largest economy.The bank’s strategists cut the year-end target for the S&P 500 Index to 6,200 from 6,500, implying an 11% gain from Tuesday’s close. The reduction was also in view of declines in the “Magnificent 7” stocks.(4) Less than two weeks after Donald Trump lambasted Ukrainian President Volodymyr Zelenskiy in an Oval Office confrontation, the US president put the pressure on Russia to accept a ceasefire agreement hammered out with Zelenskiy’s advisers.(5) Half a million more people in England and Wales are claiming disability benefits for mental-health problems than before the pandemic, according to research that may add to concerns over government plans to squeeze welfare spending.See omnystudio.com/listener for privacy information.

A sharp downturn in the US stock market has investors on edge, with fears of a prolonged economic slump. Citigroup signals a major shift by downgrading US equities while favoring China. Meanwhile, US and Ukrainian officials meet in Saudi Arabia to discuss potential concessions for a ceasefire amidst ongoing conflict with Russia. On the maritime front, a disastrous collision involving a cargo ship and an oil tanker off the UK coast results in significant damage and a missing person, highlighting ongoing global risks.

Donald Trump discusses a 'period of transition' for the US economy amid trade tensions with China. Mark Carney's election as Canada’s Prime Minister coincides with significant economic challenges from the US. The podcast highlights Germany's struggle to form a coalition government while tackling growth concerns and increasing defense spending. Additionally, UK wages are rising at the slowest pace in years, reflecting broader market volatility. The dialogue navigates fierce political landscapes and their economic implications across the globe.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a preview of U.S CPI and PPI data, along with earnings from Oracle and Adobe. In the UK – a preview of European Central Bank Chief Christine Lagarde addressing central bankers. In Asia – a recap of China’s NPC and outlook for its’ economy. See omnystudio.com/listener for privacy information.

Tensions soar as China's diplomat slams Trump's tariff policies, accusing him of hypocrisy. The U.S. exempts Canadian and Mexican goods from hefty tariffs, but Wall Street is still reeling from sharp market swings. Hedge funds like Millennium Management struggle with poor returns amid this volatility. Meanwhile, the EU moves towards reforming fiscal rules to bolster defense spending, driven by security concerns. Central bankers prepare for tough decisions about interest rates that could further impact financial markets.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Japan’s government bond yields reached their highest levels in more than a decade and yields in Australia and New Zealand also surged as the rout in German bunds reverberated through global debt markets. (2) The European Central Bank is about to lower interest rates for the sixth time since June, though a volatile economic backdrop is sowing divisions over where to take borrowing costs from here. (3) President Emmanuel Macron said he’ll enter into talks on using France’s nuclear capabilities to defend European allies. (4) Financial markets are signaling that the risk of a recession is growing as tariff-related uncertainty and indicators of economic weakness spread fear across Wall Street.  (5) Bank of England Governor Andrew Bailey says US President Donald Trump’s tariff war poses a large risk to the world economy and will not fix the trade imbalances he hopes to address. (6) President Donald Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, the White House said Wednesday, as a temporary reprieve following pleas from industry leaders.See omnystudio.com/listener for privacy information.

President Trump addresses concerns about the US economy, hinting at tough times ahead. He defends his tariff policies and suggests possible relief for goods from Mexico and Canada. Meanwhile, Germany unveils plans for significant defense and infrastructure spending, shifting its fiscal strategy. Across the globe, China sets an ambitious 5% growth target for 2025, indicating potential stimulus measures as it navigates the ongoing trade war. Economic developments and political maneuverings intertwine in a dynamic landscape.