Bovino to Leave Minneapolis, South Korean Tariffs Rise, More
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News when you want it with Bloomberg News Now. I'm Doug Krisner. And we begin in Minneapolis, where a senior Border Patrol commander and some agents are reportedly expected to leave the city as early as Tuesday. The departure of Commander Greg Bovino comes as President Trump dispatched Border Czar Tom Homan to Minnesota to take charge of ICE operations.
What recent changes are happening in Minneapolis regarding Border Patrol leadership?
Now, Homan will be meeting with Minneapolis Mayor Jacob Frye tomorrow. as the unrest continues following the shooting death of Alex Preddy. The mayor of St. Paul, Cowley Herr, spoke to Bloomberg's balance of power.
Alex was not at a protest. It was a morning in which he just happened to be in a space in which he saw activity and he wanted to go and document. I think that it is dangerous when we say that just because people are gathering or they exist is that they are protesting. They are not. They know that their neighbors have been taken off the streets, that people are being ripped out of their homes forcibly, that people are having children and families ripped apart. And so when our neighbors see each other hurting and impacted, we show up.
That is Cowley Herr, the mayor of St. Paul, Minnesota. Now, the situation in Minneapolis is impacting the passage of an appropriations bill. Democrats are moving toward a potential government shutdown over the bill's inclusion of funding for the Department of Homeland Security. Here is Bloomberg's Eric Wasson.
So Schumer right now is saying split five of this six part package apart. This would fund everything in the State Department, Treasury, Small Business Administration and pass that and then deal with DHS separately. But Republicans are resisting that, saying there's really no time and consent. You really need unanimous consent in the Senate to do any of this. So we're predicting a likely government shutdown.
That is Bloomberg's Eric Wasson. President Trump said tonight in a post on Truth Social he is increasing a tariff on some South Korean goods from 15% to 25%. This new rate will apply to autos, lumber, and pharmaceutical products. Here is Bloomberg's Josh Wingrove.
He's essentially ripping up, or at least for now, the deal and saying that's because the Koreans are slow walking it. I should note that there were a lot of question marks, including from what the American position was about this deal. We still, for instance, don't know what the shipbuilding cooperation will look like. And so this is another case for countries that are looking at this, including the EU and the UK that had their deals and then saw the Greenland tariff threat come in. The Trump's deals aren't necessarily locked in.
That is Bloomberg's Josh Wingrove. Now, the government in Seoul says it did not receive an official notice on the tariff from the Trump administration. We go to business news next. NVIDIA has announced an additional $2 billion investment in CoreWeave. Now, the funding is aimed at speeding up an effort to add more than 5 gigawatts of AI computing capacity by 2030. However, the investment has sparked concern about circular financing. NVIDIA CEO Jensen Huang pushed back and said the investments represent confidence in the growth and business models of the companies. Here is Bloomberg's Ed Ludlow.
So to NVIDIA's mind, $2 billion is not a lot of money in the grand scheme of what CoreWeave is going to have to go to the capital markets to raise. NVIDIA makes lots and lots of investments, you know, $2 billion equivalent, and they do it through buying common stock. His evidence is that, you know, that's completely normal for them and so widespread across the AI stack is their investments that it's not circular, particularly when those don't include quid pro quo.
That is Bloomberg's Ed Ludlow. The heaviest winter storm in years dropped mounds of snow on New York City. Here is Bloomberg's Miles Miller on the economic cost.
We know that more than 3,000 flights were canceled Monday following roughly 11,600 canceled on Sunday, the most since the COVID-19 pandemic. Natural gas futures surged above $6.30 per BTU, the highest since December 2022.
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