or e.u. technology companies is do they need them? and this is a question that the europeans are going to start asking. on my way here, someone said, the conference is around the corner. and another conference taking place on the e.u. digital markets act. no. this is the right place. u.s. tech companies i think after the 2016 election in some ways weren't on their best behavior. they tried to do contact moderation and basically avoid regulation coming from congress because their biggest fear is beginning to be regulated. now the problem for u.s. tech companies is that they need the european markets. china has locked them out. the second biggest market for them is europe and europe is a huge market. yet if europe can successfully regulate tech companies and they set a model for the rest of the world to potentially follow. bradford talked about this that it is very much in play. u.s. companies are doing everything to fight it. in some areas, maybe they have a point, but maybe could have gone to

and e.u.bon pricing as we head into a critical year and the meeting taking place in brazil later this year as well. head of bloomberg carbon markets team. we have had a very busy weekend in terms of headlines coming through from the munich security conference. coming up, europe scrambles to respond to trump's ukraine more policy while its biggest economy heads to the polls. we are going to be getting the latest with senior fellow judy dempsey, next. we will be talking to the upcoming german federal elections and what that means the future of the german economy but bigger picture questions about europe and the joint defense spending plans. so all of that to come in just a few moments. this is bloomberg. ♪ >> good morning, this is daybreak europe and i'm joumanna. donald trump promises ukraine's president will take part in peace talks as leaders hold an emergency meeting on security. olaf scholz is open to negotiating with the u.s. terrorists. debate heats up and asian stocks again as optimism d

. >> reporter: you have talked about the e.u. before and your concerns about how the e.u.union? do you have an idea where the number will land? >> they have a 20% vat tax, considering similar and the same as a terror, plus they charge lots of fees. they are doing something else. european union has been very tough on our companies. they sued apple. they sued google. they sued facebook. they sued many other companies. american companies. the kind of numbers are staggering. and the court system over there is not very good to our companies. if you know that apple had to pay, i think $16 billion in a penalty. a court case that was really shocking because most people thought they would have won the court case, people that watched it. so they have been very tough. airlines have called me up and they said could you help us with europe because they are charging us so many different fees. i got a call from the head of american, united, and other airlines saying every time we land a plane, we get just absolutely killed by the european union, and so they haven't been treated -- we thi

and e.u. and to bring a car into the e.u. from the u.s.y charge us 10% and bringing them over from the e.u. and sell them there we only charge them 2.5 percent tariffs you can see it's pretty one-sided totally unfair especially considering and they exported 700,000 vehicles while the u.s. sent over 270,000 vehicles to europe. again just one example of why the president says it's high time to match tariff for tariff across circle prices could go up somewhat short term but also go down and nobody knows what is going to happen other than we know jobs will be produced at levels never seen before this is the government began firing hundreds of people in multiple agencies today and doing trump administration efforts to streamline federal job positions and cut costs. termination emails were sent out over the last hours for federal workers move coming after tens of thousands of them accepted buyout offers. the -- team continues to uncover waste, fraud, and abuse and they announced the team located 20 billion in taxpayer funding that they had purpo

he is going to be meeting with greer, what can the e.u.ort of avoid reciprocal tariffs that you've talked about and, you have talked about the a-t, do you expect them to reduce that? >> president donald trump: they did already as i understand it, reduce their card tariff all the way down to what we have and a lot of that will take place and some won't do it and some will do it but the e.u. had a 10% tax on cars and now they have a 2.5% tax which is the exact same at us. already we have saved a tremendous amount, that would be great if everybody would do that, they would all be in the same playing field. because essentially what we are doing with the tariffs is, they charge us, we charge them some amount. is called reciprocal actually. but if they charge as we charge them. you, i appreciate they did this but the e.u. has been unfair to us. they don't take our cars. they don't take our farm products, they don't take almost anything. they take very little. we are going to have to straighten that out, and we will have no doubt about it. >> can

i think that the e.u. on innovation. we should balance that. i think that is incredibly critical and i think about precision regulation as opposed to blunt force. be precise and take a risk based approach but only the most risky activities are regulated. so be more careful around life or death activities that allow innovation and customer service and productivity for your program errors in terms of what we will do around improving the customer experience. maybe be careful in life or death activities. joumanna: let me ask you another question that is important in the context of tech innovation which is the rise of quantum computing. i thought it was interesting that in the investor day you said you updated the account -- the quantum computing roadmap and your aim at demonstrating the first quantum computer by 2028 is three years away. people are skeptical that that can be asked -- that can be achieved. arvind: we have 13 quantum computers on the cloud, all at 100 cubits, so they are very serious. we believe

the e.u. lowered their tax on cars down to the same amount. they were much higher and approximate five times higher and lowered them down to the exact tax that we're charging. that took place yesterday or the day before. is that a correct statement? reporter: do you expect exemption in waivers? president trump: no, there wouldn't be any. but in the case of apple i gave them a waiver extension in my first term because samsung was in south korea and didn't have to pay the tax because there was a tax on china and apple makes a lot of their product in china, so i did that because it wouldn't have been fair. now this applies to everyone across the board. reporter: you had a call with president putin of russia and president zelenskyy said any agreements they won't accept unless made with ukraine. will ukraine have a seat at the table with the negotiations? president trump: of course they would. they're a part of it and we'll have ukraine and russia and a lot of people involved. a lot of forks in this game, i tell you what it. it's an interesting sit

e.u.'ner said that you would invest $2 -- 200 billion euros in a public private deal for infrastructure, but admitted the e.u. needs to be flexible to be competitive. >> we have to cut red tape and we will. reporter: as this event draws to a close, a theme of collaboration has fallen flat as the u.s. and u.k. have refused to sign the diplomatic declaration, a document that supports the sustainable and inclusive development of ai. while talk is moving away from collaboration and towards competition. the race to become an ai superpower is on. it seems ai's latest achievement is political point scoring. bbc news, paris. sumi: that is our program. remember you can always find more on all the days news on our website, bbc.com/news. we are following the latest on the cease-fire agreement. plus to see what we are working on anytime, check us out on your favorite social media site. i'm sumi somaskanda. thank you for watching world news america. ♪ narrator: funding for presentation of this program i

. >> what is the relationship with the e.u.'s trent. trump: the prime minister's very nice we got a couple of meetings and numerous phone calls and getting along very well and we will see whether or not we can balance of the budget with the european union, it is $350 million deficit. obviously something will take place there. [inaudible]. >> time life. trump: with you. trump: window say there's a timeline that it will be pretty soon. >> no no i'm nobody tell you we may have short-term and people understand a little pain but long term, the united dates has been ripped off by virtually every country in the world of deficits with almost every country not every country but almost i'm going to change it printed this why we own $36 trillion. we have deficits and everybody we've helped everybody we been helping everybody for years to be honest i don't think they appreciate it printed so were going to change it fast to make america great again we had to focus on our country. we have tremendous potential if properly used we have to focus on our

with phrases for the e.u. like reallliney out of line, atrocity what they have done.verall sort of approach he had at this press conference that the u.s. has been ripped off. a two other countries don't appreciate what we have done. heard on the campaign trail and donald trump since he stepped down off the elevator pen he controls power to make that happen.if if i am in the e.u. and south africa, watch out! >> nichole: south africa didn't come out of nowhere in his firseight term cutting is south africa because atrocity is going on by leadership andhey' apparently it has been accused o in continuing to do some, killinacg farmers and actually d from them.an this is the leadership. the president saidjustt he wilt all future payments in 2020 for the united states pledged $440 million to south africa so i will bice curious if that will make it there.e soi say good riddance. south africa has been completely antithetical to a lot of political positions. they blamed d israel and the israel/hamas war. they are forming alliances with hamas,lian china and giving mono putin. why

you and i can talk about auto trade, i know that the e.u.re in line at 2.5%, but the vat can be on yous -- onerous, gene. >> just so people know, the vat is nothing more than a sales tax, you know? i live in philadelphia. philadelphia has a sales tax, pennsylvania has a sales tax. in europe it's called a sales tax. and what european countries do, they look at goods that come from overseas like american goods, and they the increase the value-added tax depending if it's coming from somewhere outside of their country. that's all it is. the president's saying, well, that's just not fair. why are we being taxed so much? you mentioned autos, ken. i want to bring -- kevin. i want to to bring up why president trump is so obsessed with reciprocity among tariffs, among, you know, the e.u. in particular and the u.s. when american car companies are trying to sell their cars into the e.u., they get taxed. they get an extra a tariff of 10% whereas if a european car company is selling their cars in the u.s., the tariff rate is only the 2.5%, you know in so

e.u. tariffs on u.s. imports, the orange line significantly higher than our tariffs on their imports whether it's food, whether it's bev rah ranges, animals, vegetables, chemicals, miscellaneous, manufacturing. we're slightly ahead of them, but all commodities are significantly above us. it's not fair by any means. tariffs are one part, by the way, of the plan for president trump to bring america into the golden age. we knowing of course, the other part is streamline this government and maximize our energy. now, on his first day in office, the president declared a national energy emergency saying we need reliable, diversified and a affordable supply of energy to drive our nation's manufacturing, transportation, agriculture and defense industries and to sustain the basics of the modern life and military preparedness. so the man in charge of all of this is chris wright. he's our new u.s. secretary of energy, and he joins me now. energy secretary chris wright, thanks for joining. you put out your nine pillar

e.u., with china i don't want to tell you what biden has allowed to happen with china. they are eating our lunch. something has to happen. it is not sustainable. i'm changing it. we'll take in tremendous amounts of money on tariffs. >> harris: it is worth noting those tariffs are different from the one the white house just put on china. that tariff adds an additional 10% on all goods coming in from china. president trump also has threatened canada and mexico. you know how that went. those leaders caved. the president agreed to a one-month pause. of course, mexico is sending 10,000 members of its military per their president to the border on their side to help us stem the tide of people crashing into our country illegally. in a new op-ed for fox, white house senior counselor for trade and manufacturing peter navarro writes it's a new golden age for american steel and aluminum. wonder what he means? he joins me now. how golden will it be on these two issues, steel and aluminum? >> it will be

deficit versus the e.u. in blue.hat animates the president even though it tells you more about the strength of the consumer and a dollar than it does about countries taking vantage of the west, that would be the contention from many economists, but that is the focus for the president. let's have a quick look at european stocks because despite the volatility and geopolitics, euro stoxx 50 breaking through fresh records, levels we have not seen since 2000, the euro-dollar is back on a sustainable basis, the momentum for now seems to be there. and relief around a potential ceasefire around russia and ukraine seems to be part of the factor, as well as earnings for european stocks breed let's have a quick look at hermes. hermes at the highest and into of the luxury space has been more resilient. earnings out shortly. we will break those down for you. and we will see with the china story and u.s. and the consumer for hermes. british land lender natwest going to promote some interviews that will come out. will release its e

it will hit this country and the e.u.e are committed to work together on that and all violent crime. counterterrorism efforts. tomorrow i meeting with interpole. it is important we work together as a team around the world and that is our shared value. keeping america safe. free speech is so important and nice president vance was not scared to get up there and talk about it today. >> martha: let's talk about what's going on here in the united states and the push back the administration is getting on a number of fronts whether it be the ability of doge to look into the treasury's, which has frozen right now. 19 attorney generals are bringing a suit against that investigation and opening those books. >> they will fail. it is the president 's right to control the budget and these are our tax dollars that had been squandered away. looked what happened at usaid. it's really remarkable that every american is not outraged by it. when we work our entire lives to pay taxes and you find out $2 million is going to guatemala for sex c

the e.u.nancial system that would allow the court staff to function irrespective of donald trump's sanctions. it might not free mr. netanyahu from the charge. one dayhe have to defend it. >> let me be clear. it is evident this court never anticipated netanyahu being arrested or having to answer to the charges. else they would not have issued the arrest warrant in such a public fashion. i mentioned the summary is unprecedented. it is an additional indication this is a p.r. exercise, a circus to gain credibility for the court which has been resoundingly criticized because of its abject failures to rehabilitate itself by going after the world's punching bag, the only jewish state. and alleging starvation when we can all see on the coverage of the bbc the last few days that those civilians are well and healthy and when every allegation of starvation or famine have been discredited including by the human bodies -- the u.n. bodies, said they were based on incomplete information, and where those repo

nontariff barriers being erected around the world like nonscience-based environmental regulations in the e.u. the current playing field is not level for our producers, and righting the ship will not be an easy task. but we cannot let the almost $100 billion in total trade deficits experienced over the past four years continue to widen and worsen. keep in mind that simply right-sizing the expected trade deficit of $45 billion in 2025 would provide more support and more certainty to our farmers than the entire end of year package. i urge the trump administration to aggressively pursue new access to markets and be prepared to stand by our farmers and ranchers if these disruptions start impacting their bottom line. i think we all celebrate the bridge that we were able to accomplish in december. it is just a bridge. the $20 billion -- more than $20 billion in weather-related assistance. the $100 billion in economic disaster relief, which was somewhat unprecedented. very proud of what we were able to deliver for the american farm-ranch family. we need brook rollins to be confirmed by the full sena

be able to sell phones with that usb port in the e.u.portantly they actually may use their in-house modem instead of the qualcomm chip. stuart: meta's chief executive, mark zuckerberg, he was at the white house yesterday. do we know why? the stock's up. >> yeah, you know, this is a little gobbledygook. to discuss meta's role in helping international leadership abroad. they want to help defend in advance american tech leadership both here and abroad. stuart: ah. he wants trump to help him in europe. [laughter] i read between the lines. why not? trump also met with the ceo of u.s. steel. do we know what came out of that meeting? the president is meeting with japan's prime minister later today. >> bingo. so they want to probably have some conversations about u.s. steel, trying to make sure they get the deal done with nippon steel which, yes, is owned by japan. we don't have any firm ideas what came out of that meeting, but the timing of that meeting, before the japanese prime minister comes to visit, is not lost on us. stuart: social media

and the e.u.t the end of the next decade, and rival drugs are already emerging, like zepbound by eli lilly. i asked the chief executive, lars fruergaard jorgensen, about regulatory pressures and future growth. so, how do you think about pricing? again, you must have gotten some difficult questions from governments, but also, this goes back to innovation. lars: most products are priced according to the value they bring. and i feel really good about the value of our medicines, what they bring to the individual patient, but also the value to the health care system. and we have, today, health care systems around the world who were typically designed for acute care. but finding that 80% of the cost in the health care system is linked to chronic care. and if you invest in that, yes, there is a cost upfront. maybe we can discuss how we deal with that. but there is actually tremendous value in terms of preventing cost and keeping people out of hospital. francine: but this is a crucial moment, because your

and then you look at the e.u, which, by the way, is trump's next target, another ally, 27 nations over there. that's another 13%. you put all those together. about two thirds of our trade, mostly with allies, all threatened with these tariffs. okay. what are the implications for the u.s. if trump carries out on his tariff promises? it hurts those countries, but it also hurts americans. this is the classic good news, bad news. the good news is that we're going to see about a $300 billion annual jump. okay. why? because of the tariffs that are charged, which, by the way, are paid by americans. okay. the countries pass it on to the companies. the companies pass this on to us, the buyers. that gets to the bad news. the bad news is it's going to cost us. the peterson institute estimates estimates about $2,600 a year for a family of four. that adds up to a lot. one big area that we don't think about maybe is automobiles. and it's estimated that the cost of the average automobile will go up from $66,000 to $82,000. janelle. that's a big jump. so anybody who thinks that this is not going to ha

china, which is going to rejoin the 2020 phase one trade agreement that they broke and to deal with the e.u. >> trace: i have about 30 seconds but is it a good play? >> the big trading partner of the planet has to be concerned with this china, there aligned activity stealing property, so mexico and canada need to get together with the united states, created trade alliance where north america can compete with china, all three nations prosper, it's not a complicated thing and it's time for mexico and canada to get on board. >> trace: thank you all. while the fox news in a common sense department prefers to pronounce the u.s. agency for international development as u.s. a i.d. a common sense thinks that saying u.s. aid is commonly accepted, what is not commonly accepted as what the agency is actually fun thing like $1.5 million to advanced de dei in a serbia, $70,000 for a musical in ireland to promote dei, $2 million for gender-affirming care in guatemala, and 32,0004 and lgbt comic book and prove. common sense would not describe this as foreign aid but rather a domestic boondoggle, a multibi

caroline: an interesting day for e.u.'s going into effect as well.rican innovation. coming up, amy celico will discuss the impact of u.s. tariffs on china and the tech consumption and a.i. race. this is bloomberg technology. ♪ caroline: welcome back to bloomberg technology, i'm caroline hyde. jackie: i'm jackie from new york. caroline: volatility is the name of the day, the reverberation of tariffs that initially were going to be 25%, and china by 10% and may be delayed by a month is what the mexican president said. the lows down .08% and nowhere like we had with deepseek anxiety but tariff anxiety is clear. let's think of the other angles we're watching. president trump's tariffs, in fact there's a plan to eliminate a tariff exemption for over $800 and allowing them to ship cleanly without tariffs and given them an advantage over amazon, and bouncing off the lows with the chinese companies as well after that mexican headline. but this is all surrounding how they're able to bypass costs at the moment and that will come to an end. were yeah, clear as

i look to brussels where e.u. during civil unrest, the united kingdom.den, began distributing letters to citizens. >> tracy: a new poll showing for the first time in 20 years the plurality that the country is headed in the right direction. plus hamas apparently back on board with tomorrow's hostage release after a warning from president trump. >> president trump: saturday at 12:00 and after that i would say all hell is going to break out. >> tracy: and spotted just outside the oval office along side historic portraits and pictures of very familiar mug shot. is trump trolling the trolls? begin with the senior national correspondent kevin with more on the woes of trump foes. >> reporter: what a few months a difference can make. obviously failed by you know father time. and yet by staying on the job as long as he did, some have argued that biden made the country less stable on the global stage endangering the west in general and the u.s. in particular. now compare and contrast that to an active president trump who despite his age, has shown incredible vigou

and russia having these talks without participation from the e.u.ll, the talks to set up the talks beginning in saudi arabia. meantime reuters writes this, russia rules out territorial conconcessions on the eve of talks with trump team, ruling out territorial concessions to ukraine. a source with knowledge of the kremlin thinking said on monday that putin was serious about doing a deal but not at any price. the kremlin said the talks would focus on restoring russian-u.s. relationships and possible talks of ending the war. meantime macron and trump have a conversation. the french president and president trump spoke on the phone moments before macron greeted european dignitaries. the president's office said the frank conversation last the 20 minutes. the call came as european leaders are trying to come up with a response to the upheaval posed by trump's second term. you know, politico says the upheaval and european leaders scrambling. they're basically trying to figure out what exactly president trump wants, how he wants it, how it's going to go, 'cau

instead, what i heard this time from leaders across the e.u., not just france, was a unity of optimismassive growth for europe and america. i think france is in the middle of figuring out how to accelerate its infrastructure. they have data center construction behind the united states and they are happy to accelerate permitting and construction. they are happy to work with american tech companies like nvidia to staff these data centers. you will see over the long-term europe start to accelerate. in the short-term, i think they want to partner with folks like america. caroline: and the administration -- you have close proximate he to the administration. the relations are at their highest moment right now. anjney: the best thing about this administration is they share everything very quickly. i think jd was clear in his speech in europe that we're putting america first and we will help our allies. nato is a huge partner for america. i think we will continue to see more investments in nato alliances. jackie: as an early investor on openai, also on the board of mistral, what do you make of

so with the fair and reciprocal plan, is going to look at every country in the e.u., they run a big tradeng to find out exactly how they are cheating us with both tariffs and what they call nonmonetary barriers and then the secretary of commerce, the great howard let nick and jamie sinclair your, who used to work for bob lighthizer, they are going to determine for the president a reciprocal tariff that captures that unfairness and they are going to put that tariff on or those folks are going to back down and treat america fairly. it doesn't matter if you are a conservative, liberal, democrat, republican. everybody should embrace the fair and reciprocal plan. >> jesse: even joe biden could understand that story you told. and every american president has the opportunity to do it. why is donald trump the only american president to get this and actually do something about it? >> there are two very simple answers. first tee is a master chess player and he actually understands this. secondly, but i loved about donald trump and why in 2016 i immediately reached out and said, hey,, need my help a

called on europe to take, you know, more responsibility for their own defense, i'm wondering, will the e.u. or any other european nation other than ukraine be involved in these peace talks? karoline: i don't have any european nations who are involved currently to read out for you. certainly the president has employed a very strong team or deployed a very strong team to continue these negotiations and the fact that he was on the phone with both president putin and president zelenskyy today shows that he's very much involved in this effort as well. reporter: a follow-up. should we expect the president to negotiate in person? with zelenskyy and putin? karoline: i don't have anything to read out on that for you today. maggie. good to see you. reporter: you talked about the transparency with doge and elon musk's press availability yesterday. there is a conflict of interest law in place that says that people who have personal interests can't interact with government entities that could touch on those. has president trump signed a waiver for elon musk? does such a thing exist? if it does, will yo

with china which -- to rejoin the 2020 phase phase one trade agreement they broke and deal with the e.u. >> the president and xi jinping don't act on my car still have a lot to catch up on. we expect a trump/xi call at some point, but karoline leavitt said it's not going to be today. >> it's a little late in the evening i think, even for xi jinping. thank you. >> secretary of state marco rubio who is now also serving as the acting director of the humanitarian agency, usaid, set on with fox news for a wide-ranging exclusive interview during his diplomatic trip to el salvador. senior national correspondent -- rich, rubio had harsh words for usaid leaders. >> he did. secretary of state marco rubio accused usaid leaders of rank insubordination, and that's the reason the administration had to take what he calls dramatic actions. the administration is reviewing american foreign aid. we asked the secretary if dramatic action includes shutting the entire agency. >> i think it's important to separate usaid from -- people are acting like somehow these aid programs are impossible without this. pro

he also in that discussion mentioned he would be looking at the e.u. and potentially u.k.me tariffs against them. we assume to achieve some sort of similar trade deal. but you did have the nec director come out this morning and try to sort of soften the president's remarks about this being about trade saying look, it is a drug war, not a trade war. the main focus for this administration is about illegal immigration and illegal drugs pouring across the border. it was something that president trump spoke about all through the campaign and in the lead-up to this coming into effect. >> dana: jackui, one of the things president trump did last night is in the quick video he did, he said that there might be some short-term pain for americans and saying it would be worth it in the end. >> yeah. that was a pretty significant admission, i think. because when you look at these three countries, canada, mexico and china, that is 40% of u.s. imports. there is no way to avoid some kind of pain when it is across the board tariff when you consider the 10% tariff for canada was on energy as

vance gave the speech for the ages last week in europe, where he looks leaders of the e.u. threat to western civilization might not come at your borders, but it might come from within. watch. >> the threat i worry most about vis-a-vis europe is not russia, not china, not any other external actor. what i worry about is the threat from within. the retreat of europe for some of its most fundamental values shared with the united states of america. to many of us on the other side of the atlantic -- looks like old entrenched interests hiding behind a lit soviet era words like misinformation and disinformation, who simply don't like the idea that somebody with an alternative viewpoint might express a different opinion, or, god forbid, vote a different way, or even worse, win and election. across europe, free speech, i fear, is in retreat. >> vance pointing at the european embrace of censorship, the antagonism -- towards free speech. to have that highlighted later on cbs. they showed a german policy for arresting people who posted insulting things on the internet. watch. >> is a cr

we have the same problem in the e.u.harging 25% tariffs on most american goods. president trump will use these tariffs as a tool, as a weapon to make better fair trade agreements. stuart: senator roger mar hall, always a pleasure. thank you for joining us, we appreciate it very much. >>> white house deputy chief of staff stephen miller says doge has uncovered a massive proud ring. madison, what exactly is the fraud ring accused of doing? >> they're accused -- it's foreign nationals who are accused of faking citizen hardship here in the u.s. in order -- citizenship here in the u.s. in order to get american benefits. so millions of taxpayer dollars are going to these bad actors. take a listen to what miller a had to say. >> for example, foreign fraud rings, these are foreign nationals who come into the united states, they use fake social security numbers, fake identities to steal billions in taxpayer benefits. there's no way to know until doge gains full access exactly how much money we're talking about, but over a 10-year

you need to raise serious revenues, you would have to raise them substantially on both china and the e.u., and we have not seen that yet. we have to see what exactly comes within 30 days, 60 days. does it escalate? does it cool off? was it an early campaign promise he has delivered on and moved on to something else? scarlet: it comes at a precarious time for china's economy. you have warned about the broken economic model. the tariffs, an additional 10% -- what does it mean for the long-term decline? jim: it does not help it. that's for sure. the china economy relies on net exports after 2010, when we first put out a warning, and it is growing again. part of it is the investment driven model we have been crying wolf about forever is losing its impetus, to continue to grow. the banking system is still bloated. we have seen that problem in the residential -- the residential real estate area trickle down to the developers. they have a model that really is facing kind of a crossroads with what they are going to do. the u.s. putting on major tariffs on one of the few thriving parts of the eng

a key ally pair the french president welcoming leaders of germany ukraine italy poland denmark and e.ueting he spoke with president trump over the phone but the details of the phone call weren't revealed. it's all really start from after president trump confirmed he spoke with vladimir putin by phone in the hopes of ending the war. special envoy team do ukraine also alluded peace talks without including any of the european. >> european philosophy is not going anywhere so i don't know what they can do at the negotiation table. if they continued to skin devise ideas, while they themselves as usual merely intend to continue the war. why invite them they're quick. >> u.k. prime minister also asked about it today also said there must be u.s. backstop to ensure long lasting peace in ukraine and ensure russia doesn't start another war again with ukraine he said he will travel from washington next week to continue talks with president trump martha. >> martha: okay jeff paul in london thank you very much. >>> bring in nato secretary general mark rutte, very good to have you. eve just been in th

the e.u., canada? do we have any friends? i mean, mexico, i get.bleep] mexico pretty much since the escalator. that is the truth. but canada? ca-nada? we're picking a fight with our most reliable and pleasant friend, the labradoodle of allies? but i guess that's trump tough! you know what i mean? you got to walk into the prison yard, walk right up to the one guy who really doesn't seem to be a problem at all, and just -- take that, best friend, who has willingly signed up to fight in every ridiculous war we've ever gotten into! let that be a lesson to the rest of the world. we are a terrible friend! denmark, panama, and canada. we're america! we used to fight the nazis. now we're scouring the globe for easy marks. what are we, like, the jake paul of nations? [cheers and applause] is that what we are doing? no offense. "i know china's out there, but panama's a legitimate fight!" in fact, i'm calling out everyone in fifa's concacaf division! yeah! oh, trinidad and tobago, you got to gang up, huh? that honestly, like, i can't believe you laughed at a

the governing body for the e.u. his comments a moment ago. >> welcome, especially the president of the european commission and the former president of estonia who we met with when i was a senator just a couple of months ago feels like. we are talking about trade issues and economic issues and the trump administration has been very clear we care a lot about europe. we see a lot of economic relationship to build upon with europe and also want to make sure we're actually engaged in a security partnership that's good for both europe and the united states. we're thrilled with the conversation and looking forward to it. >> a pleasure. the speech at the a.i. action forum and i like very much to talk with you [inaudible] i think the same goes for our trans atlantic relationship. optimism [inaudible] and strong bond. very much looking forward to working with you. >> we look forward to it, too. now we've made our public remarks and we'll now meet and you guys have to leave. >> bill: curious to see how this relationship unfold

i look to brussels where e.u.down social media during times of civil unrest the moment they spot what they've judged to be, quote, hateful content. or this very country where police have carried out raids against citizens suspected of posting anti-feminist comments online as part of, quote, combating my -- misogyny on the internet, a day of action. i come here today not just with an observation, but with an offer. of just as the biden administration seemed desperate to silence people for speaking their minds, so the trump administration will do precisely the opposite, and i hope that that we can work together on that. jackie: refreshing, right? >> it is. and the european if heat has done worse than what the democrat and liberal elite has in america just as they called people who opposed covid vaccines and school closures nazis here. they have done the same in europe to an even greater degree. they're censoring people, doing everything except being accountable to their vote, and that's -- voters, and that's what th

and the e.u.? you say believe what he says. >> i would absolutely believe it, yeah. quite a while, and a lot of presidents have talked about it but not been willing to do anything. i think this president, the difference is this president knows what his typeline is. he knows -- timeline is. he knows where the problems are, so he's going to shake it up, for sure. liz: these tariff battles are a really understandable when it comes the china, but a lot of people were scratching their heads when it came to canada and, to a lesser extend, mexico. canada has been our very close ally. canada, on d-day, went in with the british and the united states, bravely. my great uncle was killed in norman ifty in that invasion alongside so many other american soldiers -- normandy. what do you see as the upside for doing a very public argument with the canadians at this point? >> well, i'm sorry about a your uncle, but, you know, you can have disagreements with friends, and that's what's happening in canada. the big thing is the national emergency on the border and fentanyl. finish and s

i do think they're going to be target number one not only for china, but the e.u. put together this anti-coercive instrument they're redding if trump -- readying if trump levels tariffs. aping gets 30% big -- apple gets 30 percent on every apple app, so that's an easy target for foreign governments, for sure. stuart: google is way dun. they're spending $75 billion in this year, this financial year, on a.i. do they need to spend so much money when china comes along with deepseek and does it much cheaper? if. >> it's an existential threat, ands this is the defensive spending. i think you've got to lower your overweight to mag 7. i think you want to take advantage of some of the unmagnificent 493 because the bottom line is go where the earn earnings is accelerating. it's the accelerating this year in the rest of the market. last year was the mag 7 story. lighten up just a little bit, you know? if you're in inindices you are overweight mag 7, looked at system of the cheaper stocks for 2025, for sure. stuart: got it. tom hayes, thanks for joining us this morning. thank