On today's podcast:

1) Fire-Scarred Los Angeles Braces for More Extreme Wind

2) DOJ Report Says Trump Would Have Been Convicted in Election Case

3) China Weighs Sale of TikTok US to Musk as a Possible Option

On today's podcast:
1) Fire-Scarred Los Angeles Braces for More Extreme Wind
2) DOJ Report Says Trump Would Have Been Convicted in Election Case
3) China Weighs Sale of TikTok US to Musk as a Possible Option

Bloomberg Daybreak delivers today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Bloomberg Daybreak delivers today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Bloomberg Daybreak: US Edition

Fire Scarred LA Braces for More Wind; DOJ Trump Election Case Report Released  

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4b94f504-e095-46dc-9dc1-b26500ace55b/transcript

On today's podcast:

1) President Trump hits reverse on auto tariffs for Canada and Mexico for now. The Trump administration is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, following pleas from industry leaders. The exemption applies to auto parts that comply with the USMCA trade pact. It comes as the president's set to meet with US tech leaders Thursday, whose companies also face the possibility of import tariffs and stricter export rules.

2) European leaders gather for an emergency summit on military defense. European leaders meet in Brussels for emergency talks on Ukraine and defense spending. They are discussing an EU proposal to unlock as much as €800 billion of funds across the bloc. Germany will seek a constitutional amendment to exempt defense from its budget limit.

3) A global bond selloff continues following Germany's historic spending plans. A global bond selloff continued due to Germany's spending plans, which are expected to reshape growth outlook on the continent. Investors are reacting to Germany's move to unlock hundreds of billions of euros for defense and infrastructure investments, which is expected to boost its economy and spill over to neighboring countries.

On today's podcast:
1) President Trump hits reverse on auto tariffs for Canada and Mexico for now. The Trump administration is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, following pleas from industry leaders. The exemption applies to auto parts that comply with the USMCA trade pact. It comes as the president's set to meet with US tech leaders Thursday, whose companies also face the possibility of import tariffs and stricter export rules.
2) European leaders gather for an emergency summit on military defense. European leaders meet in Brussels for emergency talks on Ukraine and defense spending. They are discussing an EU proposal to unlock as much as &euro;800 billion of funds across the bloc. Germany will seek a constitutional amendment to exempt defense from its budget limit.
3) A global bond selloff continues following Germany's historic spending plans. A global bond selloff continued due to Germany's spending plans, which are expected to reshape growth outlook on the continent. Investors are reacting to Germany's move to unlock hundreds of billions of euros for defense and infrastructure investments, which is expected to boost its economy and spill over to neighboring countries.

Trump Delays Tariffs on Autos; Germany Sends Bonds Spiraling

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/91091285-dc5f-4d08-a8ba-b29800abf378/transcript

On today's podcast:

1) President Trump promises golden age but warns tariffs could cause disturbance, President Trump defended his tariff plan, saying it would raise "trillions and trillions" in revenue and rebalance trading relationships, despite acknowledging potential economic pain. The president touted his tariff moves as effective in bringing jobs to the US, threatened to impose new tariffs, and announced plans for domestic energy production and an office of shipbuilding at the White House.

2) Trump calls for a repeal of the Chips Act. The president touted his tariff moves as more effective at bringing jobs to the US than Biden’s efforts, which included the Chips and Science Act and its billions in subsidies to spur domestic semiconductor manufacturing. Trump urged lawmakers to eliminate the Chips Act and said he would not give chipmakers any more funds from the law.

3) Job cuts are on the way at Disney. The Walt Disney Company is eliminating roughly 200 jobs across its ABC and entertainment TV networks, according to an internal memo. The majority of the cuts affect the ABC News division in New York. Production units including ABC News Studios, 20/20 and Nightline will be consolidated and the impacted employees will be notified on Wednesday, according to the memo.

On today's podcast:
1) President Trump promises golden age but warns tariffs could cause disturbance, President Trump defended his tariff plan, saying it would raise "trillions and trillions" in revenue and rebalance trading relationships, despite acknowledging potential economic pain. The president touted his tariff moves as effective in bringing jobs to the US, threatened to impose new tariffs, and announced plans for domestic energy production and an office of shipbuilding at the White House.
2) Trump calls for a repeal of the Chips Act. The president touted his tariff moves as more effective at bringing jobs to the US than Biden&rsquo;s efforts, which included the Chips and Science Act and its billions in subsidies to spur domestic semiconductor manufacturing. Trump urged lawmakers to eliminate the Chips Act and said he would not give chipmakers any more funds from the law.
3) Job cuts are on the way at Disney. The Walt Disney Company is eliminating roughly 200 jobs across its ABC and entertainment TV networks, according to an internal memo. The majority of the cuts affect the ABC News division in New York. Production units including ABC News Studios, 20/20 and Nightline will be consolidated and the impacted employees will be notified on Wednesday, according to the memo.

Trump Talks Tariffs & Chips in Congressional Address; Disney Job Cuts

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/064ac761-26a0-47d2-adaa-b29700b0198c/transcript

President Donald Trump acknowledged there may be an “adjustment period” as his tariffs take effect, but defended his push to remake the US economy and declared “momentum is back” in a primetime speech to Congress on Tuesday night.

“Tariffs are about making America rich again and making America great again. And it’s happening, and it will happen rather quickly,” Trump said in the longest-ever presidential address to a joint session. “There’ll be a little disturbance, but we’re okay with that. It won’t be much.”

Trump’s address comes at a pivotal moment. Data shows new strains on the economy as factory activity stagnates, inflation simmers, consumer confidence ebbs, and stocks lag behind equity markets in other countries.

Stocks swung wildly Tuesday following Trump’s most recent tariff actions against the US’s largest trading partners, with the S&P 500 Index closing at its lowest level since before the president’s election last year. Commerce Secretary Howard Lutnick hinted the administration might announce a pathway for tariff relief for goods from Mexico and Canada — two of the countries hit — that are covered by a free trade agreement as soon as tomorrow.

For instant reaction and analysis to President Donald Trump's joint address to Congress, plus Michigan Democratic Senator Elissa Slotkin's speech in response, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz along with Bloomberg Surveillance cohost Annmarie Hordern speak with:

Bloomberg politics contributors Rick Davis and Jeanne Sheehan Zaino
US Secretary of Energy Chris Wright
US Secretary of Housing and Urban Development Scott Turner
Senator Adam Schiff of California

President Donald Trump acknowledged there may be an &ldquo;adjustment period&rdquo; as his tariffs take effect, but defended his push to remake the US economy and declared &ldquo;momentum is back&rdquo; in a primetime speech to Congress on Tuesday night. &ldquo;Tariffs are about making America rich again and making America great again. And it&rsquo;s happening, and it will happen rather quickly,&rdquo; Trump said in the longest-ever presidential address to a joint session. &ldquo;There&rsquo;ll be a little disturbance, but we&rsquo;re okay with that. It won&rsquo;t be much.&rdquo; Trump&rsquo;s address comes at a pivotal moment. Data shows new strains on the economy as factory activity stagnates, inflation simmers, consumer confidence ebbs, and stocks lag behind equity markets in other countries. Stocks swung wildly Tuesday following Trump&rsquo;s most recent tariff actions against the US&rsquo;s largest trading partners, with the S&amp;P 500 Index closing at its lowest level since before the president&rsquo;s election last year. Commerce Secretary Howard Lutnick hinted the administration might announce a pathway for tariff relief for goods from Mexico and Canada &mdash; two of the countries hit &mdash; that are covered by a free trade agreement as soon as tomorrow. For instant reaction and analysis to President Donald Trump's joint address to Congress, plus Michigan Democratic Senator Elissa Slotkin's speech in response, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz along with Bloomberg Surveillance cohost Annmarie Hordern speak with:
<ul>
<li>
<ul>
<li>Bloomberg politics contributors Rick Davis and Jeanne Sheehan Zaino</li>
<li>US Secretary of Energy Chris Wright</li>
<li>US Secretary of Housing and Urban Development Scott Turner</li>
<li>Senator Adam Schiff of California</li>
</ul>
</li>
</ul>

Instant Reaction: Trump Delivers Joint Address To Congress

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a2cde8e9-f606-4d03-aba0-b2970050e3a3/transcript

Fire Scarred LA Braces for More Wind; DOJ Trump Election Case Report Released

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