Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Doug Krisner. Some European leaders are taking a stand against President Trump's threat of new tariffs. Now, Trump announced a new 10% levy on eight EU countries opposed to his plans to seize Greenland. In response, French President Emmanuel Macron intends to request the activation of the EU's strongest trade countermeasure.
Chapter 2: What are the implications of Trump's new tariffs on the EU?
However, German Chancellor Friedrich Merz is trying to persuade Macron to tone down his response. At the same time, UK Prime Minister Keir Starmer criticized Trump's move.
Alliances endure because they're built on respect and partnership, not pressure. That is why I said the use of tariffs against allies is completely wrong. It is not the right way to resolve differences within an alliance.
Chapter 3: How are European leaders responding to tariff threats?
That is British Prime Minister Keir Starmer. Meantime, the managing director of the IMF, Kristalina Georgieva, says it's too early to assess the impact of a potential new trade war between Europe and the US.
Too early to say what exactly the impacts of new trade tensions is, but we know that when we have more uncertainty, bet for business, bet for households. The best way forward find a path to agreement. And that is going to be good for everybody, everywhere.
Kristalina Georgieva, the managing director of the IMF, speaking to Bloomberg from the sidelines of the World Economic Forum in Davos. We go to Spain next, where more than three dozen people were killed when a high-speed train derailed and hit another train coming from the opposite direction.
Prime Minister Pedro Sanchez declared three days of mourning and cancelled his trip to Davos due to this accident.
I want to express to the victims, to the relatives, that from the central government, in coordination with all the other administrations, we're going to protect them, we're going to assist them in whatever they need.
That is Spanish Prime Minister Pedro Sanchez speaking through an interpreter. Now, Spain has one of the world's largest high-speed train networks. Services have come under pressure recently, given a surge in demand. Tomorrow will be the third opportunity of the year for the Supreme Court to issue its ruling on the legality of President Trump's trade policy.
Bloomberg's Nathan Hager has more from Washington. The high court has gone through two opinion days this year without ruling on President Trump's emergency tariffs. Investors will see whether the third day is the one. The justices have set this Tuesday as their next opinion day. As usual, the high court never says which cases it will decide on until the justices return to the bench.
If a tariff ruling doesn't come this week, it could be a while. The Supreme Court scheduled for a month-long break starting after this Wednesday. In Washington, I'm Nathan Hager, Bloomberg Radio.
Wall Street returns from a three-day holiday weekend with a focus on earnings. More from Bloomberg's Charlie Pellett.
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