Trump Blasts Xi on Trade Talks; Musk Slams Tax Bill

Trump Blasts Xi on Trade Talks; Musk Slams Tax Bill

On today's podcast:

1) More tensions between the U.S. and China as President Trump says Xi Jinping is extremely hard to make a deal with. Tensions between the two countries are increasing, with the US recently barring the shipping of critical jet engine parts to China and seeking to slap fresh curbs on Huawei Technologies Co. chips, among other measures.

2) Elon Musk blasts the president's tax cut bill, calling it an "abomination." Musk's criticism was met with responses from White House Press Secretary Karoline Leavitt, who brushed it off, and Senator Mike Lee, who appeared to endorse Musk's criticism. The tax bill is forecast to bring down federal revenue by about $4 trillion over a decade, adding about $2.5 trillion to the federal deficit over the period.

3) Wells Fargo finally gets out from under the Fed's cap on its assets. The Fed said Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The removal of the cap marks a major win for CEO Charlie Scharf and allows the bank to pursue growth again, with plans to increase returns and growth in a deliberate manner.

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Episoder(1598)

Winter Storm Pummels East Coast; Dems Threaten Shutdown After Latest Minneapolis Killing

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Daybreak Weekend: US Tech, UK PM Visits China, Apple Earnings

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Trump Drops Tariff Threat After ‘Framework’ Greenland Deal; Supreme Court Appears Wary of Bid to Fire Fed’s Cook

On today's podcast:1) President Trump said he would refrain from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland, citing a “framework of a future de...

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Davos Braces for Trump's Arrival; Bessent Cautions Allies Over Military Missions in Greenland

On today's podcast:1) President Trump expressed confidence that the European Union would continue to invest in the US even if he imposed new tariffs related to his quest to take control of Greenland, ...

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Greenland Talks Loom Over Davos; Bessent Says Fed Pick Could Come as Soon as Next Week

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On today's podcast:1) President Trump said he will meet with several parties over his ambition to take control of Greenland during the upcoming World Economic Forum. Trump said in a Truth Social post ...

20 Jan 15min

Daybreak Holiday: Stock Market Records, Fed Independence, The Future of DEI

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On this special MLK Holiday edition of Bloomberg Daybreak, host Nathan Hager discusses: Stocks are coming off three straight years of double digit gains..What will 2026 hold? We hear from Cameron Daw...

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