On today's podcast:

1) DeepSeek Shows China Playbook to Deal an Even Bigger Shock to US

2) World’s Richest People Lose $108 Billion After DeepSeek Selloff

3) Trump Vows Tariffs ‘Much Bigger’ Than 2.5% and on Key Areas

On today's podcast:
1) DeepSeek Shows China Playbook to Deal an Even Bigger Shock to US
2) World&rsquo;s Richest People Lose $108 Billion After DeepSeek Selloff
3) Trump Vows Tariffs &lsquo;Much Bigger&rsquo; Than 2.5% and on Key Areas

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Bloomberg Daybreak: US Edition

DeepSeek Upends AI Industry; Trump Vows 'Much Bigger' Tariffs

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a593ec19-dc4d-45c5-a92b-b27300b06b8a/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Cuba says a boat with 10 people near its coast early Wednesday was carrying weapons, and its occupants — Cubans living in the US — were intent on entering the country to fight against the government. Cuban forces killed four people who had opened fire from a speedboat with Florida tags, an incident with the potential to escalate an already tense standoff with the US. The vessel approached within one nautical mile off the coast of Villa Clara early Wednesday, Cuba’s Interior Ministry said in a statement. Six others on the speedboat were wounded and are being provided with medical care. US Secretary of State Marco Rubio told reporters on Wednesday afternoon that the Department of Homeland Security and Coast Guard would be looking into the incident.
2) The US and Iran started a third round of nuclear talks on Thursday with days to go until President Trump’s deadline for a deal. The two parties have been locked in a tense, months-long standoff over the Islamic Republic’s atomic activities and are negotiating through mediator Oman at its embassy in Geneva, the semi-official Iranian Students’ News Agency reported. Trump had given Iran a deadline of March 1-6 to strike a deal and has threatened military action if it fails to do so, sparking fears of a new Middle East war that could embroil Israel and Gulf Arab oil producers.
3) The US vowed to maintain high tariffs on China hours after Beijing warned against any future hikes, as President Trump’s sweeping levies return to the spotlight before his meeting with Xi Jinping. US Trade Representative Jamieson Greer said Wednesday that Trump wants to keep tariffs on China steady at a range of 35% to 50%, while repeating earlier statements that the Supreme Court’s decision to invalidate broad emergency tariffs wouldn’t affect most levies. Earlier the same day, China threatened to take “all necessary measures” if the US imposed fresh tariffs, after Washington signaled a probe into their 2020 trade deal would continue. Beijing reiterated it wants to use the existing consultation mechanism to build consensus.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Cuba says a boat with 10 people near its coast early Wednesday was carrying weapons, and its occupants &mdash; Cubans living in the US &mdash; were intent on entering the country to fight against the government. Cuban forces killed four people who had opened fire from a speedboat with Florida tags, an incident with the potential to escalate an already tense standoff with the US. The vessel approached within one nautical mile off the coast of Villa Clara early Wednesday, Cuba&rsquo;s Interior Ministry said in a statement. Six others on the speedboat were wounded and are being provided with medical care. US Secretary of State Marco Rubio told reporters on Wednesday afternoon that the Department of Homeland Security and Coast Guard would be looking into the incident. 2) The US and Iran started a third round of nuclear talks on Thursday with days to go until President Trump&rsquo;s deadline for a deal. The two parties have been locked in a tense, months-long standoff over the Islamic Republic&rsquo;s atomic activities and are negotiating through mediator Oman at its embassy in Geneva, the semi-official Iranian Students&rsquo; News Agency reported. Trump had given Iran a deadline of March 1-6 to strike a deal and has threatened military action if it fails to do so, sparking fears of a new Middle East war that could embroil Israel and Gulf Arab oil producers. 3) The US vowed to maintain high tariffs on China hours after Beijing warned against any future hikes, as President Trump&rsquo;s sweeping levies return to the spotlight before his meeting with Xi Jinping. US Trade Representative Jamieson Greer said Wednesday that Trump wants to keep tariffs on China steady at a range of 35% to 50%, while repeating earlier statements that the Supreme Court&rsquo;s decision to invalidate broad emergency tariffs wouldn&rsquo;t affect most levies. Earlier the same day, China threatened to take &ldquo;all necessary measures&rdquo; if the US imposed fresh tariffs, after Washington signaled a probe into their 2020 trade deal would continue. Beijing reiterated it wants to use the existing consultation mechanism to build consensus.

US to Probe Cuba Speedboat Shooting; Third Round of Iran Nuclear Talks Begin

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/96605d85-db3e-47e0-aea0-b3fd00ab499c/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Addressing one of his biggest audiences at perhaps the lowest moment of his second term, President Trump returned again and again in his State of the Union speech to the same message on the economy: Everything is going great. A resolute Trump was determined to will Americans into a better economic mood, seeking to paint over the affordability concerns at the center of upcoming midterm elections with statistics and self-congratulation. “Inflation is plummeting. Incomes are rising fast. The roaring economy is roaring like never before,” Trump boasted early in the nearly two-hour speech. The US president didn’t even feel compelled to roll out fresh policy ideas to address the cost of living. And where he did allow that voters might have some misgivings about cost of living, he followed his well-worn playbook of pinning blame elsewhere. Ahead of the speech, Trump’s advisers had framed the evening as an opportunity to lay out a forward-looking economic agenda that could serve as a reset ahead of the midterms. But he focused more on touting his signature tax legislation and trade policies than major new cost-of-living proposals — a hint that the issue is still vexing the White House. 
2) Four days after deriding the US Supreme Court justices who struck down most of his signature tariffs, President Trump was far milder in his criticism with some of them in the room. Delivering his State of the Union address Tuesday, Trump criticized Friday’s 6-3 ruling against his sweeping global tariffs as “very unfortunate” and “disappointing.” The four justices who attended — Chief Justice John Roberts and Justices Elena Kagan, Brett Kavanaugh and Amy Coney Barrett — sat stoically in their front-row seats. Even in their relatively mild form, Trump’s comments marked a rare instance of high court criticism during a State of the Union address. In 2010, then-President Barack Obama criticized the just-issued Citizens United campaign-finance ruling, accusing the court of ignoring a century of precedent.
3) Nvidia Corp. is facing a high-stakes moment with its latest quarterly results on Wednesday, with the world waiting for fresh evidence that the AI spending boom remains on track. To satisfy investors, Nvidia likely needs to deliver another blockbuster report. That means easily topping the forecasts it gave three months ago and setting new targets that are above current Wall Street estimates. The company has done this repeatedly, but concerns have grown that the AI spending frenzy isn’t sustainable. Nvidia is the dominant supplier of processors used to develop and run AI models, making it the biggest bellwether of the artificial intelligence economy. Chief Executive Officer Jensen Huang has assured investors in public appearances that demand remains high and customers such as Meta Platforms Inc. and Alphabet Inc. have rolled out more aggressive spending plans. Investors also will be looking for additional ways for Nvidia to accelerate growth. That may include pushing further into China, where US export curbs — and Chinese pushback — have limited sales.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Addressing one of his biggest audiences at perhaps the lowest moment of his second term, President Trump returned again and again in his State of the Union speech to the same message on the economy: Everything is going great. A resolute Trump was determined to will Americans into a better economic mood, seeking to paint over the affordability concerns at the center of upcoming midterm elections with statistics and self-congratulation. &ldquo;Inflation is plummeting. Incomes are rising fast. The roaring economy is roaring like never before,&rdquo; Trump boasted early in the nearly two-hour speech. The US president didn&rsquo;t even feel compelled to roll out fresh policy ideas to address the cost of living. And where he did allow that voters might have some misgivings about cost of living, he followed his well-worn playbook of pinning blame elsewhere. Ahead of the speech, Trump&rsquo;s advisers had framed the evening as an opportunity to lay out a forward-looking economic agenda that could serve as a reset ahead of the midterms. But he focused more on touting his signature tax legislation and trade policies than major new cost-of-living proposals &mdash; a hint that the issue is still vexing the White House. 2) Four days after deriding the US Supreme Court justices who struck down most of his signature tariffs, President Trump was far milder in his criticism with some of them in the room. Delivering his State of the Union address Tuesday, Trump criticized Friday&rsquo;s 6-3 ruling against his sweeping global tariffs as &ldquo;very unfortunate&rdquo; and &ldquo;disappointing.&rdquo; The four justices who attended &mdash; Chief Justice John Roberts and Justices Elena Kagan, Brett Kavanaugh and Amy Coney Barrett &mdash; sat stoically in their front-row seats. Even in their relatively mild form, Trump&rsquo;s comments marked a rare instance of high court criticism during a State of the Union address. In 2010, then-President Barack Obama criticized the just-issued Citizens United campaign-finance ruling, accusing the court of ignoring a century of precedent. 3) Nvidia Corp. is facing a high-stakes moment with its latest quarterly results on Wednesday, with the world waiting for fresh evidence that the AI spending boom remains on track. To satisfy investors, Nvidia likely needs to deliver another blockbuster report. That means easily topping the forecasts it gave three months ago and setting new targets that are above current Wall Street estimates. The company has done this repeatedly, but concerns have grown that the AI spending frenzy isn&rsquo;t sustainable. Nvidia is the dominant supplier of processors used to develop and run AI models, making it the biggest bellwether of the artificial intelligence economy. Chief Executive Officer Jensen Huang has assured investors in public appearances that demand remains high and customers such as Meta Platforms Inc. and Alphabet Inc. have rolled out more aggressive spending plans. Investors also will be looking for additional ways for Nvidia to accelerate growth. That may include pushing further into China, where US export curbs &mdash; and Chinese pushback &mdash; have limited sales.

Trump Defends Economy & Tariffs in State of the Union

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/10496301-5856-4a3f-897d-b3fc00b0c1fe/transcript

President Donald Trump delivered the longest State of the Union address of the television age Tuesday, declaring “a turnaround for the ages” as he tried to sell Americans on his economic program ahead of crucial midterm elections later this year.


The speech had all the ceremony, confrontation and chaos that have come to define the event in an era of narrow congressional majorities and partisan polarization. Democratic Representative Al Green was ejected from the chamber for disrupting the speech. Trump invited the gold-medal-winning men’s Olympic hockey team into the gallery amid chants of “USA! USA! USA!” He awarded several medals honoring veterans and active-duty service members.


And in more than 1 hour 47 minutes, the longest State of the Union in history, the president delivered a rally-like speech punctuated less by policy proposals than by political attacks.

For instant reaction and analysis, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz speak with:
Bloomberg White House correspondent Jeff Mason
Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor
US Interior Secretary Doug Burgum

President Donald Trump delivered the longest State of the Union address of the television age Tuesday, declaring &ldquo;a turnaround for the ages&rdquo; as he tried to sell Americans on his economic program ahead of crucial midterm elections later this year.
 The speech had all the ceremony, confrontation and chaos that have come to define the event in an era of narrow congressional majorities and partisan polarization. Democratic Representative Al Green was ejected from the chamber for disrupting the speech. Trump invited the gold-medal-winning men&rsquo;s Olympic hockey team into the gallery amid chants of &ldquo;USA! USA! USA!&rdquo; He awarded several medals honoring veterans and active-duty service members.
 And in more than 1 hour 47 minutes, the longest State of the Union in history, the president delivered a rally-like speech punctuated less by policy proposals than by political attacks.
For instant reaction and analysis, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz speak with:
<ul>
<li>Bloomberg White House correspondent Jeff Mason</li>
<li>Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor &amp; Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor</li>
<li>US Interior Secretary Doug Burgum</li>
</ul>

Instant Reaction: Trump Touts 'Turnaround' in State of the Union

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/cd28e0dd-138d-4314-a836-b3fc00606f47/transcript

DeepSeek Upends AI Industry; Trump Vows 'Much Bigger' Tariffs

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