On today's podcast:

1) The US looks for further limits on China semiconductor access The Trump administration is planning to expand efforts to limit China's technological advancements, including tougher semiconductor curbs and pressuring allies to escalate restrictions on China's chip industry. The administration has met with Japanese and Dutch counterparts to restrict maintenance of semiconductor gear in China and is discussing sanctions on specific Chinese companies and further restricting chip exports to China.

2) President Trump breaks with allies on blaming Russia for the war in Ukraine The US and Russia voted against a European-backed resolution in the UN General Assembly that calls out Moscow's "full-scale invasion" of Ukraine exactly three years ago. The US and Russia later aligned in the Security Council to approve a US resolution calling for a "swift end" to the conflict without assigning blame, a stark reversal from policy under President Joe Biden.

3) President Trump says tariffs on Canada and Mexico are on track President Trump said tariffs scheduled to hit Canada and Mexico next month were "on time" and "moving along very rapidly." A US official cautioned that the schedule could be less certain, and the fate of the special 25% levy on Canada and Mexico was still to be determined.

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On today's podcast:

1) Trump Targets China With Biggest Salvo So Far in Second Term The Trump administration took aim at China with a series of moves involving investment, trade and other issues that raises the risk ties may soon worsen between the US and its top economic rival. In recent days, President Donald Trump has rolled out a memorandum telling a key government committee to curb Chinese spending on tech, energy and other strategic American sectors. The administration also called on Mexican officials to place their own levies on Chinese imports – a move that comes after some firms from the Asian nation shifted production to the US neighbor to avoid duties the Republican enacted in his first term.

2) Merz Wins Chance to Fix Germany and Steer EU Through Trump Era Germany’s next chancellor faces a daunting list of challenges to revive his country’s fortunes — but the rest of Europe is looking to him for leadership too. After his election win on Sunday, Friedrich Merz is set to take charge of Europe’s biggest economy with the US defense umbrella looking shakier than any time since the NATO alliance was founded and Donald Trump is discussing the continent’s security with Vladimir Putin.

3) Federal Agencies Tell Workers to Pause Reply to Musk Threat Several US government agencies have advised their employees to ignore for now a demand from Elon Musk’s government efficiency office to justify their jobs or face dismissal. The Pentagon and Department of Justice have told workers to pause on replying to the Trump administration’s email, citing potential legal pitfalls and agency autonomy.

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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 preview PCE, and personal spending data, and Nvidia earnings.
• In the UK – a preview of the next G20 summit.
• In Asia – a look at the evolving relationship between Washington and Beijing.

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On today's podcast:

1) President Trump urges Republican governors to embrace his agenda as he reshapes Washington

President Donald Trump told Republican governors that implementing his agenda was key to their own political futures, arguing that embracing it could mitigate or even prevent losses in the midterm elections. Trump reiterated his agenda to key allies in the states ahead of crucial gubernatorial races in Virginia and New Jersey later this year, and in three dozen other states next year.

2) Israel warns Hamas over a murdered hostage it says was misidentified

Israel announced that a body returned as part of a ceasefire agreement with Hamas was not that of Shiri Bibas, a young mother taken hostage in October 2023.The remains of Shiri's two sons, Ariel and Kfir, were returned and identified, with the IDF stating that they were "brutally murdered by terrorists in captivity in November 2023."

3) New York Governor Hochul said she doesn't plan to remove New York City Mayor Eric Adams

Governor Kathy Hochul plans to establish "guardrails" on the Adams administration, including creating a state-level deputy inspector general for New York City and giving more legal power to non-mayoral officials. Hochul does not plan to remove Mayor Eric Adams for now, citing the will of the voters and the supremacy of democratic elections.

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On today's podcast:

1) Trump Says New China Trade Deal ‘Possible’ Despite Tensions President Donald Trump said it would be possible to reach a fresh trade deal with China, signaling he is open to heading off a brewing trade fight between Washington and Beijing.

2) Trump Turns on Zelenskiy, Leaving Ukraine Few Options Amid War Donald Trump’s turn against Volodymyr Zelenskiy leaves Ukraine no good alternatives as it heads into the fourth year of Russia’s full-scale invasion.

3) Trump to Halt NY Congestion Pricing by Terminating Approval The Trump administration is moving to block New York City’s congestion pricing program, reversing a federal approval granted last year and setting up a legal showdown over the tolling initiative.

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On today's podcast: 

1) President Trump floats 25 percent tariffs on auto, chip, and drug imports President Donald Trump said he would likely impose tariffs on automobile, semiconductor, and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2. Trump wants to give companies "time to come in" before announcing new import taxes, and said that when they come into the US and have their plant or factory here, there is no tariff.

2) The US says sanctions will remain on Russia for now after a high-level meeting on Ukraine Secretary of State Marco Rubio told European allies that the US will keep sanctions on Russia in place at least until a deal to end the Ukraine conflict is reached. President Donald Trump said he'll probably meet Vladimir Putin to discuss a settlement before the end of February, and signaled support for holding new elections in Ukraine after an agreement.

3) New York Mayor Eric Adams's political future heads to federal court A federal judge has scheduled a hearing on the Justice Department's request to drop corruption charges against New York City Mayor Eric Adams and wants an explanation for the request. The Justice Department's decision to abandon the prosecution was made despite the objections of some prosecutors, who resigned rather than carrying out the directive, and has been criticized as a "corrupt quid pro quo" for Adams' support of the Trump administration's immigration policies.

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On today's podcast:

1) Ukraine peace talks between the US and Russia begin in Saudi Arabia Top US and Russian officials met in Saudi Arabia to discuss ending the war in Ukraine, without Ukraine's participation. It follows a landmark phone call between President Donald Trump and Russian President Vladimir Putin, which could pave the way for a summit between the two leaders as soon as next week.

2) 80 people survive after a Delta plane flips while landing in Toronto A Delta Air Lines regional jet flipped out of control after landing in windy, freezing conditions in Toronto, injuring 15 people, three critically. The plane, which was flying from Minneapolis/St. Paul to Toronto-Pearson International Airport, had 76 passengers and four crew on board.

3) President Trump's government efficiency push leads to more high-profile resignations President Trump's push to rein in the federal government is leading to more high-profile clashes. According to the Washington Post, the acting head of the Social Security Administration resigned over the weekend, following a dispute with Elon Musk's government efficiency team over its attempts to access sensitive government records.

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On this special holiday edition of Bloomberg Daybreak US edition, host Nathan Hager speaks with Stephen Schork, founder of the Schork Group, shares his outlook for the energy sector and the oil industry, Eric Balchunas, Bloomberg Intelligence analyst on the market outlook under a new Trump administration and Arun Sundaram at CFRA looks ahead to Walmart earnings.

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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 look at U.S housing data and earnings from the EV maker Rivian.
• In the UK – a look at upcoming German elections.
• In Asia – a look ahead to earnings from Alibaba and economic data in South Korea.

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On today's podcast:

1) President Trump rolls out plans for reciprocal tariffs on a host of trading partners President Trump has ordered his administration to consider imposing reciprocal tariffs on numerous trading partners to rebalance trade relations. The tariffs would be customized for each country, aiming to offset not just their own levies on US goods but also non-tariff barriers, and could take weeks or months to complete. The move is seen as a potential opening bid for negotiation, and Trump hopes to have a discussion with other nations about how existing policies have created an imbalanced trade environment.

2) The White House intensifies efforts to shrink the federal workforce The Trump administration is advising federal agencies to lay off thousands of probationary employees, with some exceptions, as part of its effort to rapidly downsize the federal government. Agencies such as the General Services Administration and the Department of Energy are making cuts, with the latter planning to dismiss 90% of its probationary employees for poor performance.

3) TikTok is back on the Apple and Google app stores Apple and Alphabet’s Google are restoring ByteDance TikTok to their app stores following assurances in a letter from US Attorney General Pam Bondi that a ban wouldn’t immediately be enforced. The two companies had removed TikTok in the US last month to comply with a law passed in 2024. By Thursday evening, the software had returned to the Apple App Store and Google Play store.

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