Brendan Murray, Bloomberg's Trade Tsar and expert on trade and tariffs, dives into the complexities of trade wars ignited by recent U.S. tariffs on China. He analyzes the immediate retaliatory actions by China and the challenge of unwinding these measures if relations improve. Murray discusses the significant power wielded by leaders in trade decisions and the evolving protectionist sentiments. He also sheds light on how businesses navigate these turbulent changes and questions the effectiveness of the World Trade Organization in this landscape.

Tom McKenzie, a Bloomberg TV anchor and tech expert, discusses the rise of DeepSeek, a Chinese AI startup whose R1 chatbot poses a significant challenge to ChatGPT. He delves into the disruptive potential of DeepSeek's cost-effective model in the tech industry. McKenzie highlights China's rapid advancements in AI, contrasting it with the challenges faced by American firms. The conversation touches on regulatory hurdles and raises questions about the integrity of AI development processes, positioning DeepSeek as a wake-up call for established tech giants.

Dive into the whirlwind of Donald Trump’s early executive orders and their profound implications for energy and immigration. Discover the legal limits of these orders and how they can be challenged, including significant court cases. Explore the tension between executive actions and congressional power, particularly in shaping policy. Lastly, reflect on the tradition of new presidents signing multiple executive orders and the concerns surrounding their impact on the legislative process.

Derek Wallbank, a Senior Editor at Bloomberg, shares insights on the crucial role immigrants play in the U.S. economy. He discusses the misleading narrative that immigrants drive down wages and the potential consequences of a massive deportation plan on job growth and inflation. Wallbank also contrasts illegal and legal immigration, shedding light on the mixed opinions regarding skilled labor within Republican circles. Finally, he touches on how immigration policies impact economies globally, sharing lessons from countries like Canada and Australia.

Quantum computing is poised to outshine artificial intelligence, promising breakthroughs in drug development and financial modeling. With billions being invested by top tech firms and governments, this technology could transform industries. Explore how quantum computers excel beyond classical ones, tackling complex challenges in banking and cybersecurity. Join the discussion on the major players in the field, from IBM to innovative startups, as they navigate the future of this groundbreaking technology.

Bailey Lipschultz, a Bloomberg journalist with a keen focus on public market transitions, joins the discussion on the trend of companies like SpaceX and OpenAI opting to stay private. The conversation reveals why high-valuation firms are shunning IPOs, emphasizing their desire to avoid public scrutiny and focus on long-term growth. Lipschultz highlights how the shifting landscape favors private fundraising and examines the broader implications for market accountability and transparency in this evolving financial era.

Golnar Motevalli, Bloomberg's Head of Iran coverage, offers a compelling analysis of Iran's diminishing regional influence. She discusses the fallout from the loss of Syria as a key ally and how the weakening of proxies like Hamas and Hezbollah complicates Tehran's position. Motevalli delves into the geopolitical shifts affecting Iranian foreign policy, the internal challenges Iran faces, and the impact of external pressures, particularly from Israel and the U.S. A fascinating exploration of how these dynamics redefine Iran's standing in the Middle East.

France is in the grip of a deep political crisis after President Macron's government collapsed following a no-confidence vote. The discussion highlights the implications for the far-right's rise, particularly concerning Marine Le Pen. Unpopular budget measures, like postponed pension increases, add to the turmoil. Amidst public concerns about the cost of living and declining trust in leadership, the challenges for politicians in rallying support are daunting. Future political alliances and potential candidates for upcoming elections are also examined.

Daniel Moss, a Bloomberg Opinion columnist known for his insights on economic trends, joins host Stephen Carroll to delve into inflation expectations for 2025. They discuss the cautious steps central banks are taking as inflation levels near target rates, and how trade tariffs and a strong dollar may complicate future forecasts. Moss also examines whether recent declines in inflation are merely temporary or signal a new period of sustained inflation, shedding light on the evolving monetary policy landscape.

Sam Fazeli, Director of Research at Bloomberg Intelligence with a PhD in pharmacology, tackles the concerning rise in vaccine hesitancy, particularly for childhood immunizations. He discusses the alarming implications of appointing a vaccine-skeptic to a key health position, highlighting the historical context and recent measles outbreaks. Fazeli emphasizes the need for transparency in vaccine approval processes to build public trust and explores how health policies can either enhance or undermine vaccine uptake amid political pressures.