Episodit
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Air France CEO Ben Smith responds to Delta pulling full-year financial outlook due to tariff uncertainty and how Air France is managing the uncertainty surrounding global trade. Smith spoke with Bloomberg's Matt Miller, Katie Greifeld and Sonali Basak.
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Richard Bernstein Advisors CEO Richard Bernstein says "the Fed is caught between a rock and a hard place. GDP forecast has been downward, but inflation expectations seem poised to accelerate." Bernstein spoke with Bloomberg's Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern.
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Former Treasury Secretary Lawrence Summers warned that the US is now likely headed toward a recession, and two million jobs could be lost due to President Donald Trump's tariffs. He is joined by Bloomberg's David Westin.
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White House Council of Economic Advisors Chair Stephen Miran says President Doanld Trump’s tariff plan could be “either” a negotiation or the new rules of the game, depending on whether countries “offer the right things to persuade the president.” He is joined by Bloomberg's Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern.
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Peter Oppenheimer, chief global equity strategist at Goldman Sachs, discusses the likelihood of tariffs sparking a US recession. He is joined by Bloomberg's Jonathan Ferro, Lisa Abramowicz, and Annmarie Hordern.
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Senator Elizabeth Warren lashed out at President Donald Trump’s sweeping global tariffs, saying they risk throwing millions of Americans out of work saying, “One person has started the dumbest trade war in the history of America." Warren called tariffs an important tool for bringing key supply chains back to the US but said Trump’s barrage of levies have pushed the country to the edge of a recession, with more damage being done every minute they are in place. She spoke with hosts Joe Mathieu and Kailey Leinz.
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BlackRock CEO Larry Fink speaks with Bloomberg's Erik Schatzker at the Economic Club of New York. Fink says he wouldn’t rule out another 20% drop in the market, but he views it as another long-term buying opportunity.
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Lori Calvasina, Chief US Equity Strategist at RBC Capital Markets, discusses her note this morning on why full recession pricing could send the S&P to 4,200. She speaks with Bloomberg's Tom Keene and Paul Sweeney.
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As dozens of countries worldwide have held national elections in the past year, a new global agenda has emerged that is focused more on trade and taxes, and less on environmental and cultural issues. That’s the conclusion of the first edition of the CEO Radar—a new tool that explores the leading topics discussed on almost 4,700 earnings calls worldwide in Q4 2024, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this first episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by Christoph Schweitzer, CEO of BCG, and Judith Wallenstein, head of BCG’s CEO advisory practice, to unpack the stories behind the data, based on their one-on-one conversations with CEOs.
This episode is sponsored by BCG.
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Oaktree Capital Management Co-Chairman Howard Marks discusses the present moment, the market selloff, and the changes brought to trade through tariffs. He speaks with Bloomberg's Lisa Abramowicz.
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US Labor Secretary Lori Chavez-DeRemer, confirmed just last month, speaks to Bloomberg minutes after learning that nonfarm payrolls rose by 228,000 in March easily beating the estimate of 140,000. She says this won't be the last positive jobs report under President Donald Trump and companies are now investing billions of dollars in the economy. She speaks to Bloomberg's Jonathan Ferro.
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Former Boston Fed President Eric Rosengren speaks on the impact of the Trump tariffs on Fed rates, trade policy and inflation. He speaks with Bloomberg's Jonathan Ferro.
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Stephen Phipson, CEO of Make UK, says Britain should negotiate a trade deal, as the country faces a 10% blanket US tariff, as well as steel and vehicles tariffs. He tells Bloomberg's Caroline Hepker and Valerie Tytel that the Labour government's effort to develop the relationship with the Trump White House has been "impressive" but 45% of all UK exports are manufactured products.
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President and Vice-chancellor of London School of Economics Larry Kramer discusses the impact of President Trump on US universities as the "effective dismantling" of American higher education. On the UK university funding crisis, Kramer tells Bloomberg's Caroline Hepker and Stephen Carroll revenue needs to increase from all sources including student fees but what is happening in the US is likely to help UK universities.
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New York Governor Kathy Hochul discusses the economic impact of the Trump administration's tariffs. Speaking to Bloomberg's Joe Mathieu and Kailey Leinz, Hochul calls the tariffs a "tax increase" and an "unforced error."
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Wall Street economists say the US risks a recession this year and inflation could return to pandemic levels following the Trump administration’s announcement of major tariffs on global trading partners.
Bloomberg got reaction from JP Morgan Investment Management Chief Investment Officer Bob Michele, Principal Global Investors Chief Global Strategist Seema Shah, Dartmouth University Professor Douglas Irwin and Yardeni Research President Ed Yardeni.See omnystudio.com/listener for privacy information.
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US Commerce Secretary Howard Lutnick said that foreign nations will need to address a host of regulatory and other policies limiting imports of American products in order to secure relief from President Donald Trump’s new reciprocal levies. He is joined by Bloomberg's Jonathan Ferro and Annmarie Hordern.
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Apollo Global Management President Jim Zelter says tariffs announced by President Donald Trump should not come as a surprise and sees US recession odds at “50% or higher depending what happens on the ninth.” He is joined by Bloomberg's Jonathan Ferro and Lisa Abramowicz.
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This is a special edition of the Bloomberg Daybreak: US Edition podcast.
Subscribe to the show:
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On today's episode:
President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam.“For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” Trump said during an event in the White House Rose Garden to unveil the so-called reciprocal tariffs. “Now it’s our turn to prosper.”The move marks a dramatic escalation in Trump’s trade war, one that risks triggering retaliation from other countries and upends calculations for businesses and consumers at home. China and the EU, America’s largest trading partner, both said they were preparing to take countermeasures in response.The US president has embraced tariffs as a tool to assert US power, revive manufacturing at home and exact geopolitical concessions — counter to the decades-old consensus that lower trade barriers help to foster ties among nations and prevent conflicts. Economists say the near-term result of his measures will likely be higher US prices and slower growth — or perhaps even a recession.Global financial markets were hit by a sweeping selloff after Trump’s announcement, with US equity futures slumping as much as 4%.Gold hit an all-time high and the traditional haven Japanese yen soared, while China maintained its daily support of the yuan. Ten-year Treasury yields fell toward the closely-watched 4% level, their lowest since October.Read More: Fear Grips Markets as Trump Tariffs Raise Risks to Global GrowthLess than three months after returning to the White House, Trump has already erected trade barriers that are bigger by some measures than those imposed in the notoriously protectionist 1930s. Bloomberg Economics calculates that the effective tax rate the US now charges on more than $3 trillion of imported goods may climb to around 23% — higher than any point in more than a century.A statement published Wednesday by the United States Trade Representative explained the Trump administration calculated its raft of new tariffs primarily based on existing trade balances. Countries running a trade surplus with the US faced a flat 10% rate regardless, as did nations where trade was roughly even.There’s a small difference in the tariff rates first announced by Trump and more than a dozen of those listed in the annex that accompanied the White House executive order. For countries like South Korea, Myanmar, Pakistan and India, the rates in the annex are about 1 percentage point higher than the initial announcement.The 10% baseline charge on everyone takes effect after midnight Saturday. The higher duties on targeted countries — which replace, rather than add on top of the 10% rate — are due to kick in on April 9, the White House said.Read More: List of Reciprocal Tariffs by CountryFor now, the new measures don’t include Canada and Mexico, which are embroiled in a separate on-and-off tariff dispute with the US. They also won’t apply to some products that are subject to separate duties tied to so-called Sec. 232 investigations such as autos, semiconductors and lumber.The reciprocal tariffs were “much worse than we feared,” said Mary Lovely, a senior fellow at the Peterson Institute for International Economics. There’ll be “huge implications for rerouting of trade,” she said.The president, who’s sought to frame his trade plans as a boost for his blue-collar voters, was joined in the Rose Garden by union members and workers from various industries — including a retired autoworker who spoke on stage. Later, Trump brandished large boards during his 48-minute address to display each nation’s new rate.See omnystudio.com/listener for privacy information.
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