Amy Morris

tariffs are a break from their trade deal on more than 4 billion euros of goods.

The deal they struck last summer would impose a 15 percent tariff on most EU exports to the U.S.

and remove tariffs on American goods heading to the EU.

Sources tell Bloomberg that President Trump's new policy increases duties above that 15 percent maximum on European exports of cheese, butter, agricultural products, plastics, textiles and chemicals.

After the Supreme Court decided that the president could not use his emergency powers to impose sweeping global tariffs, the president announced during last night's State of the Union that he'll go through other authorities to put those tariffs in place.

And he's starting with a 150-day, 10 percent global tariff.

U.S.

Trade Representative Jameson Greer.

Greer says there are gaps in parts of the USMCA trade deal with Canada and Mexico.

Trade Representative Jameson Greer was a guest on Bloomberg Surveillance.

You could listen to that entire conversation on Bloomberg.com slash videos.

Anthropic is scaling back its central safety policy, saying it will no longer delay AI development that could be dangerous if it thinks it's falling behind its competitors.

The company says the policy environment has shifted toward prioritizing competitiveness and economic growth, while safety-oriented discussions have yet to gain any traction at the federal level.

Now Senator Elizabeth Warren is criticizing Defense Secretary Pete Hegseth for his threats against Anthropic.

Hegseth threatened to cut Anthropic out of the Pentagon supply chain or invoke the Defense Production Act.

unless Anthropic gave the military unfettered access to its AI model.

Warren, along with other Democrats, released a statement calling that threat an extortion.

Richmond Fed President Tom Barkin said if AI does disrupt business and the labor market, interest rate policy should not be used to counter it.

At an event in northern Virginia, Barkin says such disruption is part of the essence of capitalism.

He called it creative destruction, which he says has been happening for hundreds of years, and interest rate policy is not the answer.