On today's podcast:    

1) President Donald Trump said he would be “substantially raising” the tariff on Indian exports to the US over the Asian nation’s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies.

2) Texas Governor Greg Abbott ordered the arrest of Democratic lawmakers who left the state to block a controversial vote on new congressional maps. 

3) Palantir Technologies Inc. reported a 48% increase in revenue for the second quarter to more than $1 billion, citing the “astonishing impact” of artificial intelligence technology on its business.

On today's podcast: &nbsp; &nbsp;
1) President Donald Trump said he would be &ldquo;substantially raising&rdquo; the tariff on Indian exports to the US over the Asian nation&rsquo;s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies.
2) Texas Governor Greg Abbott ordered the arrest of Democratic lawmakers who left the state to block a controversial vote on new congressional maps.&nbsp;
3) Palantir Technologies Inc. reported a 48% increase in revenue for the second quarter to more than $1 billion, citing the &ldquo;astonishing impact&rdquo; of artificial intelligence technology on its business.

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

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

Bloomberg Daybreak: US Edition

Trump Vows to Ramp Up India Tariffs; Texas Governor Orders Arrest of Democrats

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/cb998e7d-c113-475a-8c96-b330009be721/transcript

On today's podcast:
1) President Trump said he was looking to “de-escalate” in Minnesota with a reshuffle of the leadership running his deportation effort in the state following widespread outcry over the killing of two US citizens by federal agents. Still, the president denied he was pulling back his immigration crackdown and said that Homeland Security Secretary Kristi Noem would remain in her post, as he looked to signal a recalibration rather than a retreat in the aftermath of the Jan. 24 fatal shooting of 37-year-old intensive care nurse Alex Pretti by a Border Patrol agent during an enforcement operation. Meantime, US Representative Ilhan Omar was charged at by a man who appeared to squirt an unknown liquid on her during a town hall gathering in Minneapolis, as she called for consequences for the federal officials overseeing President Trump’s aggressive immigration policies.
2) President Trump’s relaxed tone about the dollar selloff is fueling speculation the US currency is at the start of a longer-term decline. The dollar suffered its deepest one-day drop since last year’s tariff rollout after Trump said on Tuesday he didn’t think the currency had weakened excessively. Bloomberg’s dollar gauge slid as much as 1.2% as the comments sapped the appeal of the greenback and US Treasuries — boosting what has become known as the debasement trade. The dollar’s recent decline is great for US businesses, Trump told reporters in Iowa. While that’s in line with previous commentary from US officials, his remarks moved currency markets late Tuesday, partly because they appeared to validate the steep decline in the greenback in recent sessions.
3) Federal Reserve Chair Jerome Powell may try to direct attention back to the economy this week, with the US central bank widely expected to hold interest rates steady after three straight reductions. But Powell’s first press conference since the Fed was served grand jury subpoenas — and coming days after the Supreme Court heard arguments regarding the attempted removal of another Fed governor — is bound to include questions about political pressure, central bank independence and what the Fed chief plans to do after his term as chair ends in May. A decision to hold rates steady this month is likely to garner broad support from policymakers following a series of contentious cuts. While the majority of officials agreed in those instances to backstop a weakening labor market, another group of policymakers pushed for the focus to remain on elevated inflation.

On today's podcast: 1) President Trump said he was looking to &ldquo;de-escalate&rdquo; in Minnesota with a reshuffle of the leadership running his deportation effort in the state following widespread outcry over the killing of two US citizens by federal agents. Still, the president denied he was pulling back his immigration crackdown and said that Homeland Security Secretary&nbsp;Kristi Noem&nbsp;would remain in her post, as he looked to signal a recalibration rather than a retreat in the aftermath of the Jan. 24 fatal shooting of 37-year-old intensive care nurse Alex Pretti by a Border Patrol agent during an enforcement operation.&nbsp;Meantime, US Representative Ilhan Omar was charged at by a man who appeared to squirt an unknown liquid on her during a town hall gathering in Minneapolis, as she called for consequences for the federal officials overseeing President Trump&rsquo;s aggressive immigration policies. 2) President Trump&rsquo;s relaxed tone about the&nbsp;dollar selloff&nbsp;is fueling speculation the US currency is at the start of a longer-term decline. The dollar suffered its deepest one-day drop since last year&rsquo;s tariff rollout after Trump said on Tuesday he didn&rsquo;t think the currency had&nbsp;weakened excessively. Bloomberg&rsquo;s&nbsp;dollar gauge&nbsp;slid as much as 1.2% as the comments sapped the appeal of the greenback and US Treasuries &mdash; boosting what has become known as the debasement trade.&nbsp;The dollar&rsquo;s recent decline is great for US businesses, Trump told reporters in Iowa. While that&rsquo;s in line with previous commentary from US officials, his remarks moved currency markets late Tuesday, partly because they appeared to validate the steep decline in the greenback in recent sessions. 3) Federal Reserve Chair&nbsp;Jerome Powell&nbsp;may try to direct attention back to the economy this week, with the US central bank widely expected to hold interest rates steady after three straight reductions. But Powell&rsquo;s first press conference since the Fed was served grand jury subpoenas &mdash; and coming days after the Supreme Court heard arguments regarding the attempted removal of another Fed governor &mdash; is bound to include questions about political pressure, central bank independence and what the Fed chief plans to do after his term as chair ends in May. A decision to hold rates steady this month is likely to garner broad support from policymakers following a series of contentious cuts. While the majority of officials agreed in those instances to backstop a weakening labor market, another group of policymakers pushed for the focus to remain on elevated inflation.

Trump Seeks Minnesota De-Escalation; Fed Officials Near ‘Kumbaya’ Moment on Rates

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/52601acb-8909-4d29-9bb3-b3e000aac6c1/transcript

On today's podcast:
1) President Trump indicated he’ll make changes to his administration’s deportation crackdown in Minnesota after the killing of two US citizens during immigration raids sparked nationwide uproar. The president said he was sending US border czar Tom Homan — who is seen as relatively measured compared to rivals, including Homeland Security Secretary Kristi Noem — to Minneapolis in a bid to deescalate tensions. Trump also spoke with top Democratic officials in the state. He told Governor Tim Walz, who he has derided as “grossly incompetent,” that he would consider independent investigations into the shootings and reducing the number of federal agents in his state. The president described a subsequent conversation with Jacob Frey as “very good” and said Homan planned to meet with the Minneapolis mayor on Tuesday “in order to continue the discussion.”
2) Prime Minister Keir Starmer said the UK wouldn’t have to choose between the US and China, as he heralded “significant opportunities” for British businesses ahead of his trip to Beijing this week. In an interview with Bloomberg on Monday, Starmer dismissed questions about whether he was seeking stronger ties with China at the expense of the UK’s relationship with its closest allies. Starmer’s trip to China — the first by a British prime minister in eight years — comes on the heels of a similar delegation by Canadian counterpart Mark Carney that drew fresh tariff threats from President Trump. 
3) President Trump threatened to hike tariffs on goods imported from South Korea to 25%, citing what he said was the failure of the country’s legislature to codify the trade deal the two nations reached last year. Trump in a social media post on Monday said the new rate would apply to autos, lumber, pharmaceutical products and “all other Reciprocal TARIFFS.” Under the existing agreement, the president set a 15% levy on South Korean exports. If implemented, the move could have wide-ranging effects on major South Korean companies that export to the US, such as Hyundai Motor Co., which sent 1.1 million vehicles to America in 2024. 

On today's podcast: 1) President&nbsp;Trump&nbsp;indicated he&rsquo;ll make changes to his administration&rsquo;s deportation crackdown in Minnesota after the killing of two US citizens during immigration raids sparked nationwide uproar. The president said he was sending US border czar&nbsp;Tom Homan&nbsp;&mdash; who is seen as relatively measured compared to rivals, including Homeland Security Secretary&nbsp;Kristi Noem&nbsp;&mdash; to Minneapolis in a bid to deescalate tensions. Trump also spoke with top Democratic officials in the state. He told Governor&nbsp;Tim Walz, who he has derided as &ldquo;grossly incompetent,&rdquo; that he would consider independent investigations into the shootings and reducing the number of federal agents in his state. The president described a subsequent conversation with&nbsp;Jacob Frey&nbsp;as &ldquo;very good&rdquo; and said Homan planned to meet with the Minneapolis mayor on Tuesday &ldquo;in order to continue the discussion.&rdquo; 2) Prime Minister&nbsp;Keir Starmer&nbsp;said the UK wouldn&rsquo;t have to choose between the US and China, as he heralded &ldquo;significant opportunities&rdquo; for British businesses ahead of his trip to Beijing this week. In an interview with Bloomberg on Monday, Starmer dismissed questions about whether he was seeking stronger ties with China at the expense of the UK&rsquo;s relationship with its closest allies. Starmer&rsquo;s trip to China &mdash; the first by a British prime minister in eight years &mdash; comes on the heels of a similar delegation by Canadian counterpart&nbsp;Mark Carney&nbsp;that drew fresh tariff threats from President Trump.&nbsp; 3) President&nbsp;Trump&nbsp;threatened to hike tariffs on goods imported from South Korea to 25%, citing what he said was the failure of the country&rsquo;s legislature to codify the trade deal the two nations reached last year. Trump in a social media&nbsp;post&nbsp;on Monday said the new rate would apply to autos, lumber, pharmaceutical products and &ldquo;all other Reciprocal TARIFFS.&rdquo; Under the existing agreement, the president set a 15% levy on South Korean exports. If implemented, the move could have wide-ranging effects on major South Korean companies that export to the US, such as&nbsp;Hyundai Motor Co., which&nbsp;sent&nbsp;1.1 million vehicles to America in 2024.&nbsp;

Minnesota Backlash Spurs Policy Shift; Trump Vows to Raise Tariffs to 25% on South Korean Goods

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/64917854-2257-4d5e-8e8c-b3df00aca3c3/transcript

On today's podcast:
1) US power grids are expected to grapple with unprecedented seasonal demand and the threat of blackouts after a damaging winter storm coated parts of the South and Mid-Atlantic in ice — leaving brutal cold in its wake. More than 800,000 homes and businesses nationwide are currently without electricity as snow and ice wreak havoc on local distribution lines. Grids so far have avoided larger system-level cuts, but frigid wind chills will likely persist all week, testing seasonal power-demand records from New England to Texas. In the New York metropolitan area, commuter lines run by the Metropolitan Transportation Authority will be operating with modified schedules on Monday, while at least one private bus operator, Boxcar, used by New Jersey workers, suspended its service because of the inclement weather.
2) Senate Democratic leader Chuck Schumer vowed to block a massive spending package next week unless Republicans strip funding for the Department of Homeland Security, dramatically increasing the risk for a partial US government shutdown. Schumer’s announcement came on the same day that a Border Patrol agent shot and killed an American intensive care unit nurse in Minnesota during protests over the immigration crackdown in that state. The man was identified by state and local officials as Alex Pretti. Democratic opposition to the funding package potentially affects not just Homeland Security but also the departments of Defense, Labor, Education, State, Treasury and Health and Human Services. The effects would be widespread, including possibly delaying the next Bureau of Labor Statistics report.
3) President Trump threatened Canada with 100% tariffs against all its exports to the US if it makes a trade deal with China, escalating tensions between the US and its northern neighbor. Trump, referring to Prime Minister Mark Carney as “Governor Carney,” said the Canadian leader was “sorely mistaken” for opening up his country to more business from China, including a recent deal allowing an increase in Chinese electric vehicle exports. Trump and key administration officials have denounced that bilateral agreement and warned of potential consequences, including an additional levy for Canadian goods, portending a difficult renegotiation for the US-Mexico-Canada free trade agreement scheduled in the summer.

On today's podcast: 1) US power grids are expected to grapple with unprecedented seasonal demand and the threat of blackouts after a damaging winter storm coated parts of the South and Mid-Atlantic in ice &mdash; leaving brutal cold in its wake. More than 800,000 homes and businesses nationwide are currently without electricity as snow and ice wreak havoc on local distribution lines. Grids so far have avoided larger system-level cuts, but frigid wind chills will likely persist all week, testing seasonal power-demand records from New England to Texas. In the New York metropolitan area, commuter lines run by the Metropolitan Transportation Authority will be operating with modified schedules on Monday, while at least one private bus operator, Boxcar, used by New Jersey workers, suspended its service because of the inclement weather. 2) Senate Democratic leader&nbsp;Chuck Schumer&nbsp;vowed to block a massive spending package next week unless Republicans strip funding for the Department of Homeland Security, dramatically increasing the risk for a partial US government shutdown. Schumer&rsquo;s announcement came on the same day that a Border Patrol agent shot and killed an American intensive care unit nurse in Minnesota during protests over the immigration crackdown in that state. The man was identified by state and local officials as Alex Pretti. Democratic opposition to the funding package potentially affects not just Homeland Security but also the departments of Defense, Labor, Education, State, Treasury and Health and Human Services.&nbsp;The effects would be widespread, including possibly delaying the next Bureau of Labor Statistics report. 3) President&nbsp;Trump&nbsp;threatened Canada with 100% tariffs against all its exports to the US if it makes a trade deal with China, escalating tensions between the US and its northern neighbor. Trump, referring to Prime Minister Mark Carney as &ldquo;Governor Carney,&rdquo; said the Canadian leader was &ldquo;sorely mistaken&rdquo; for opening up his country to more business from China, including a recent deal allowing an increase in Chinese electric vehicle exports. Trump and key administration officials have denounced that bilateral agreement and warned of potential consequences, including an additional levy for Canadian goods, portending a difficult renegotiation for the US-Mexico-Canada free trade agreement scheduled in the summer.

Winter Storm Pummels East Coast; Dems Threaten Shutdown After Latest Minneapolis Killing

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/bf475faa-1b40-40d8-9182-b3de00b07ee8/transcript

Trump Vows to Ramp Up India Tariffs; Texas Governor Orders Arrest of Democrats

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