Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump’s deliberations over his plans to impose reciprocal tariffs are coming down to the wire, with his team said to be still finalizing the size and scope of the new levies he is slated to unveil on Wednesday afternoon.

(2) Federal Reserve Bank of Chicago President Austan Goolsbee warned of the negative consequences of any slowdown in consumer spending or business investment due to tariff-related uncertainty.

(3) The UK government is bracing for US tariffs set to be outlined this week by President Donald Trump to hit the British economy, even as the two governments continue talks on a potential carve-out.

(4) The White House is preparing an estimate of what it would cost the federal government to control Greenland as a territory, the most concrete effort yet to turn President Donald Trump's desire to acquire the Danish island into actionable policy.

(5) Elon Musk’s candidate faced a resounding loss in a Wisconsin judicial race despite the world’s richest man pouring millions into the campaign, while Republicans avoided upsets in two critical US House seats in Donald Trump’s home state of Florida.

(6) As US President Donald Trump prepares to launch a new wave of levies aimed at reducing America’s trade deficits and bringing manufacturing back to home soil, pharmaceuticals are high on the list of targets. 

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Check out the new Stock Movers Podcast from Bloomberg. Subscribe for five-minute episodes on today's winners and losers in the stock market.
Listen on Apple: https://apple.co/4kJ43ON  
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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump will announce his reciprocal tariff push on Wednesday during an event in the White House Rose Garden, his top spokeswoman said.

(2) US automakers are making a last-ditch effort to sway the Trump administration on tariffs set to take effect this week, contending that levies on the thousands of parts they source abroad could have catastrophic effects on the industry.

(3) French far-right leader Marine Le Pen lashed out at the decision to bar her from running for elected office for five years, saying it effectively eliminated her from the 2027 presidential race.

(4) The rising price of store cupboard staples and alcoholic drinks has lifted UK food inflation to a nine-month high, as the country’s Labour government faces growing political pressure over living costs.

(5) A fight over UK motor finance and whether lenders should be on the hook for billions of pounds in compensation will play out at the Supreme Court in one of the most highly-anticipated hearings in years.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Global equities sold off for a fourth day as concerns about the economic impact of the trade war intensified before Donald Trump unveils more tariffs this week.

 
(2) Japan’s blue-chip Nikkei 225 Stock Average slumped to enter a technical correction as exporter- and chip-related stocks slid on concerns about the global trade war.

(3) President Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2.

 
(4) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs.

(5) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2. 

(2) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs.

(3) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth.

(4) Global equities sold off for a fourth day ahead of President Donald Trump unveiling a fresh round of tariffs and mounting concerns about economic impact from a global trade war.

(5) This was a historic quarter for European stocks. Investors are now wondering if there will be an encore. Doubts have grown around the US exceptionalism trade due to uncertainty from Donald Trump’s tariff policies and government job cuts — and Europe is emerging as a beneficiary.

(6) Major players in the foreign exchange market are concerned about a potential system-wide crisis due to a "liquidity mirage" that creates the illusion of market depth, while actual liquidity is drained away.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
•    In the US – a preview of US March jobs and a look at the potential impact of auto tariffs. 
•    In the UK – an assessment of NATO's position amid growing global tensions.
•    In Asia – a preview of the Reserve Bank of Australia's next rate decision. 

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On today's podcast:

(1) The US is pushing to control all major future infrastructure and mineral investments in Ukraine, potentially gaining a veto over any role for Kyiv’s other allies and undermining its bid for European Union membership.

(2) Federal Reserve Bank of Boston President Susan Collins said it looks “inevitable” that tariffs will boost inflation, at least in the near term, adding it’s likely appropriate to keep interest rates steady for longer.

(3) Donald Trump has piqued European leaders’ interest in currency markets. After the euro jumped against the dollar, French president Emmanuel Macron quizzed central bank chief Christine Lagarde on the outlook for the exchange rate in private conversations in Brussels last week, according to people briefed on the discussions.

(4) UK Chancellor of the Exchequer Rachel Reeves boasted on Wednesday that she had restored her fiscal buffer to £9.9 billion ($13 billion). A day later, she had lost half of it.

(5) Elon Musk, the billionaire running President Donald Trump’s federal cost cutting effort, said he plans to slash $1 trillion in government spending by the end of May.

(5) European leaders are trying to carve out a role for themselves in US-led ceasefire talks over Russia’s war in Ukraine as more than 30 of them gather Thursday for an impromptu defense summit in Paris.

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President Donald Trump signed a proclamation to implement a 25% tariff on auto imports, which will come into effect on April 3, initially targeting fully assembled vehicles. Trump also suggested further tariffs would be imposed on the European Union and Canada if they worked together “to do economic harm” to the US, and threatened levies on lumber, semiconductors, and pharmaceutical drugs. The tariffs are expected to raise prices of foreign-made cars, and even US-made vehicles may see price increases if supplies and parts are hit by levies or if supply chains are cut off from manufacturing in lower-cost countries. In this bonus episode of the Bloomberg Daybreak Europe Podcast Caroline Hepker and Stephen Carroll get the thoughts of our EMEA News Director Ros Mathieson and our Markets Live Executive Editor Mark Cudmore as well as hearing from Carl Tannenbaum, Chief Economist at Northern Trust.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) President Donald Trump signed a proclamation to implement a 25% tariff on auto imports, expanding a trade war designed to bring more manufacturing jobs to the US and setting the stage for an even broader push on levies next week.

(2) The European Union expects the US to apply a double-digit tariff rate across the bloc when President Donald Trump announces a sweeping package of so-called reciprocal duties on April 2.

(3) Across Wall Street, the world’s leading mergers and acquisitions advisers are sounding the alarm: the Donald Trump-driven deals boom they’d all been dreaming of isn’t happening yet.

(4) UK Chancellor Rachel Reeves did the minimum to preserve her credibility with markets by restoring her fiscal buffer to exactly where it was in October. In doing so, she ensured she would remain a hostage to fortune for months to come.

(5) European leaders are trying to carve out a role for themselves in US-led ceasefire talks over Russia’s war in Ukraine as more than 30 of them gather Thursday for an impromptu defense summit in Paris.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Chancellor of the Exchequer Rachel Reeves will blame global economic headwinds as she slashes UK government spending by billions of pounds, in the face of growing criticism from within her own Labour Party that she risks alienating voters.

(2) Fresh doubts over the accuracy of Britain’s official data have been raised by economists, who warned that the problems first seen in the labor market figures are “just the tip of the iceberg.”

(3) The US said Russia and Ukraine agreed to a ceasefire in the Black Sea, even as the Kremlin said its involvement would depend on a series of preconditions, including sanctions relief.

(4) President Donald Trump said his administration was investigating the addition of a journalist to a text group of top officials discussing plans for military strikes in Yemen, but expressed support for national security adviser Michael Waltz.

(5) President Donald Trump said he plans to limit exceptions to his tariff push, the latest cryptic hint about a planned April 2 announcement of reciprocal duties on global trading partners.

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