Bloomberg Daybreak: US Edition

Michael Barr, a Bloomberg reporter keeping tabs on breaking news, dives deep into the current U.S.-China trade war and President Trump's imposing tariffs. He discusses the potential local upheaval if tensions escalate, and the stock market's mixed reaction to Trump's promises of an economic boom. Barr also touches on the Canadian election, highlighting the competition between Mark Carney’s Liberal Party and Pierre Poilievre’s Conservatives, exploring the political stakes and implications on both sides of the border.

Chang Xu, Chief Asia economist for Bloomberg Economics, shares her insights on China’s economic indicators and potential policy shifts. Mandeep Singh, Senior Tech Industry Analyst, dissects U.S. tariffs and their effects on tech companies like Apple and Google, especially around AI investments. The duo also explores the upcoming UK elections, highlighting how economic conditions influence voter sentiment and party strategies. Listeners gain a glimpse into the challenges facing the tech sector amid regulatory pressures and trade tensions.

Tensions rise as China downplays progress in the U.S. trade talks, leaving markets in suspense. Meanwhile, Alphabet Inc. surprises analysts with strong profits thanks to its search advertising boom. In a significant shift, Apple plans to source most of its iPhones from India, aiming to reduce dependence on China amid geopolitical strains. Discussions on the repercussions of tariffs for American consumers and job markets add to the urgency of evolving trade dynamics. This podcast delves into how these developments impact the global economy.

Tensions flare as China demands the U.S. revoke unilateral tariffs, showcasing a firm stance amid stalled trade talks. Meanwhile, the Trump administration considers tariff reductions that could impact the auto industry. Adding to the complexity, Trump’s approval rating plummets, reflecting political challenges and public discontent. Meanwhile, the podcast also touches on global events, airline excellence, and thrilling sports updates, providing a multifaceted view of the current landscape.

1) President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.2) President Donald Trump said he plans to be “very nice” to China in any trade talks and that tariffs will drop if the two countries can reach a deal, a sign he may be backing down from his tough stance on Beijing amid market volatility.3) Elon Musk vowed to pull back “significantly” from his work with the US government and pay more mind to Tesla Inc., assuaging investors concerned about the carmaker’s worst quarter in years.See omnystudio.com/listener for privacy information.

On today's podcast:  1) US stocks are set to bounce back from Monday’s losses as investors nervously weighed up progress on trade talks with India and Tesla’s upcoming earnings. Gold topped $3,500 for the first time. 2) President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell. 3) Harvard University sued several US agencies and top officials for freezing billions of dollars in federal funding, significantly ratcheting up a high-stakes showdown with the Trump administration.See omnystudio.com/listener for privacy information.

On today's podcast:1) Pope Francis, who encouraged Catholics to embrace a more compassionate view on many issues but found it difficult to close the book on past abuses by clergy, has died. He was 88.Francis passed away at 7:35 a.m. Monday in Rome, the Vatican said in a statement. He had been hospitalized in Rome in mid-February with bronchitis, which progressed to pneumonia in both lungs — the last in a litany of respiratory and other medical challenges he had faced. On Sunday, he had met with US Vice President JD Vance. 2) The New York Times is reporting Defense Secretary Pete Hegseth sent sensitive information about strikes in Yemen to an encrypted group chat that included his wife and brother, people familiar with the matter said.Defense Secretary Pete Hegseth shared detailed information about forthcoming strikes in Yemen on March 15 in a private Signal group chat that included his wife, brother and personal lawyer, according to four people with knowledge of the chat.Some of those people said that the information Mr. Hegseth shared on the Signal chat included the flight schedules for the F/A-18 Hornets targeting the Houthis in Yemen — essentially the same attack plans that he shared on a separate Signal chat the same day that mistakenly included the editor of The Atlantic.3)  China warned countries against striking deals with the US that could hurt Beijing’s interests, upping the ante in the trade war with Washington and showing how others risk getting caught in the middle.While it respects nations resolving their trade disputes with the US, Beijing “resolutely opposes any party reaching a deal at the expense of China’s interests,” the Ministry of Commerce said in a statement Monday. If that happens, Beijing “will never accept it and will resolutely take reciprocal countermeasures,” the ministry added. “China is willing to strengthen solidarity and coordination with all parties, jointly respond and resist unilateral bullying acts.”See omnystudio.com/listener for privacy information.

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 look ahead to home sales data and Tesla earnings. In the UK – a look ahead to how companies across Europe and beyond are preparing to share their latest financial performances with the market. In Asia – a look ahead to how some Chinese companies are looking to skirt U.S President Donald Trump’s tariffs. See omnystudio.com/listener for privacy information.

Michael McKee, a seasoned Bloomberg International Economics and Policy Correspondent, dives into the tension between President Trump and Fed Chair Powell, emphasizing the importance of central bank independence. Eric Balchunas, an ETF expert, examines recent shifts in market dynamics, revealing investor tendencies towards cash-like ETFs amidst volatility. Finally, Jennifer Rie, a Senior Litigation Analyst, unpacks the ongoing antitrust battles with big tech, particularly the FTC's efforts against Meta, spotlighting the complexities of proving anti-competitive behavior.

President Trump's optimistic trade outlook is boosting stocks following a Wall Street slump. Fed Chair Jay Powell expresses concerns about tariffs complicating the Federal Reserve's decisions, worrying investors about their impact on the tech sector. Meanwhile, Harvard University stands firm against the Trump administration's pressure, facing repercussions like funding freezes and threats to its tax-exempt status. The podcast captures the pulse of trade negotiations and their broader implications on the economy and higher education.