Bloomberg Daybreak: US Edition3 Maalis 2025

US Support for Ukraine Stalls; Trump Readies for Tariffs on Allies

On today's podcast:

1) Europe races to support Ukraine after last week's Oval Office blowup. European leaders, including UK Prime Minister Keir Starmer, Italian counterpart Giorgia Meloni, and French President Emmanuel Macron, are working to rebuild relations between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy after a disastrous clash at the White House. The leaders are fast-tracking efforts to improve their own defense capabilities and are seeking to build a "coalition of the willing" to participate in peacekeeping forces and reassure Kyiv about the durability of any peace.

2) President Trump readies a barrage of tariffs on Canada, Mexico and China. President Donald Trump is planning to impose new tariffs on Canada and Mexico, and double a levy on China, which would apply to roughly $1.5 trillion in annual imports. The tariffs would put a 25% tariff on all imports from Canada and Mexico, except Canadian energy, which would face a 10% rate, and would also double a tariff on China to 20%.

3) Andrew Cuomo enters the race for New York City mayor. Andrew Cuomo, the former three-term governor of New York, has announced his candidacy for mayor of New York City, joining a crowded field of challengers vying to unseat incumbent Mayor Eric Adams. Cuomo's decision to run has upended the race, with several polls showing him leading the field, and he has touted his record during the Covid-19 pandemic despite criticism from both Republicans and some members of his own party.

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