Discover how the UK's downgraded growth forecast could lead to major spending cuts and a hefty £150 billion bill for taxpayers tied to the Bank of England's QE program. Hear concerns from the Bank’s governor about the risks posed by multi-manager hedge funds. Explore the implications of trade wars on Germany's bustling Hamburg port and the criticism of Trump's tariffs by Citadel's founder. Plus, learn about Jerome Powell's patient approach to interest rate adjustments, signaling a wait-and-see stance from the Federal Reserve.

Kevin Whitelaw, Bloomberg's Brussels Bureau Chief, discusses the EU's firm response to potential U.S. tariffs on steel and aluminum, emphasizing their strategy for countermeasures. He analyzes the implications for international trade and touches on exemptions for Australia despite President Trump's hard stance. Whitelaw also highlights the rising tensions affecting transatlantic relations and the urgency of these economic shifts, particularly regarding Germany's position in the trade landscape. The conversation underscores the significance of European unity amidst increasing nationalism.

President Trump escalates trade tensions by imposing a 25% tariff on steel and aluminum imports, with potential exemptions for allies like Australia. Meanwhile, a bidding war brews as Elon Musk makes a $97.4 billion offer for the nonprofit controlling OpenAI, highlighting the clash between tech titans. Economic indicators reveal struggles in consumer spending and the threat of a European energy crisis looms large as natural gas prices soar. The geopolitical landscape shifts as leaders navigate the implications of these trade strategies on global relations.

The discussion kicks off with Trump’s bold plan to impose a 25% tariff on steel and aluminum imports, stirring concerns among trading partners. Meanwhile, BP faces a critical showdown with activist investors due to poor performances. In the UK, job security anxieties are hampering economic potential, while France gears up for a massive €109 billion investment in AI. The Super Bowl victory of the Philadelphia Eagles adds a sports twist, complemented by insights into the bustling FX trading market amidst these economic shifts.

Join Parmy Olson, Bloomberg's tech opinion columnist, as she explores the buzz around the AI Action Summit in Paris, emphasizing the competitive global AI landscape. Meanwhile, Karishma Vaswani delves into the fallout of Donald Trump's trade war with China, discussing how tariffs could impact both economies. The conversation also addresses the evolving nature of AI governance and the urgent need for regulatory frameworks amid rapid advancements.

The Bank of England's growth forecast paints a bleak picture amid recession fears, yet officials push for a growth agenda. In a surprising twist, gold shipments from London to the U.S. are soaring due to premium prices. Donald Trump shares his tax priorities, signaling possible changes to private equity regulations. Meanwhile, Amazon faces potential capacity issues in its cloud division despite its massive investment plans. The podcast also tackles tensions between EU climate policies and the forestry industry's sustainable practices.

Key topics include Trump's upcoming plan for Ukraine, which is expected to be unveiled at the Munich Security Conference. A controversial suggestion about Gaza has drawn mixed reactions. On the corporate front, Google has decided to abandon its formal diversity goals, reflecting broader trends in Silicon Valley. Additionally, the Bank of England is predicted to cut interest rates, grappling with rising inflation and growth concerns. The geopolitical landscape continues to shift, influencing both economic strategies and tech industry practices.

Donald Trump's bold proposal to transform Gaza into a 'Riviera' raises eyebrows and sparks global reactions, especially from Saudi Arabia. Meanwhile, China adopts a more cautious trade strategy amid ongoing tensions, reflecting its slowing domestic economy. The diamond market faces challenges as De Beers confronts falling prices and shifting consumer preferences favoring lab-grown options. Additionally, Sweden grapples with a tragic mass shooting, posing questions about safety and security amidst an unsettling geopolitical climate.

Lizzie Burden, Bloomberg UK correspondent, shares insights from Brussels on Keir Starmer's diplomatic balancing act post-Brexit. She discusses China's swift retaliation to US tariffs and the implications for global trade. The conversation highlights Starmer's attempts to maintain strong ties with both the US and EU while managing intricate trade relationships. Furthermore, they explore the temporary delay of tariffs between the US, Canada, and Mexico and the pressure it places on Starmer to navigate defense spending amidst international expectations.

Kriti Gupta, a Bloomberg TV anchor, shares her insights on the economic ripples of Trump’s tariffs on Canada, Mexico, and China. She highlights the anticipated price hikes for everyday goods like fruits and cars, and discusses responses from world leaders, including a cautious China. The conversation delves into the U.S.-EU trade tensions and the potential impacts on European economies. Gupta emphasizes how these actions could reshape the trade landscape amid fears of a looming trade war.