Greer: Trump to Hike 15% Tariff, Nvidia Faces High-Stakes Report, More
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News when you want it with Bloomberg News Now, I'm Amy Morris. In the State of the Union, President Trump says he'll impose tariffs through other authorities after the Supreme Court's decision to revoke his emergency duties. He started with a 150-day, 10% global tariff. U.S. Trade Representative Jameson Greer says he'll bump that to 15% where appropriate through a supplemental proclamation in coming days.
We have a lot of countries out there that for a long time have had 10%. We have some that have higher at 15%. And so our goal with all of this is to have continuity. So we want to have the 10% and we're looking about how to implement the 15% that the president indicated because we want to have continuity.
Greer says they'll find another way to get those tariffs done without using that emergency authority.
We want the countries, we want the companies, we want people to understand that what we were doing before, we're going to reconstruct with alternative tools because we want to keep going, maintain the policy. We'll just have a change in the legal implementing authorities.
U.S. Trade Representative Jameson Greer was a guest on Bloomberg Surveillance. You can hear that full conversation on Bloomberg.com slash videos. Nvidia is facing a high-stakes moment with its latest quarterly results after today's closing bell. Bloomberg Intelligence Global Head of Tech Research, Mandeep Singh, says there are a couple of readings to help track growth.
the data center revenue and how much upside can they get from the China market. And then the hyperscale CapEx changes that we have heard, most of them have given a better than expected outlook on their CapEx increases. And that should translate into better growth for Nvidia.
To satisfy investors, NVIDIA likely needs to deliver another blockbuster report as the world waits for fresh evidence that the AI spending boom is on track. And Wall Street traders are bracing for NVIDIA's results, hoping for evidence that the outlook for artificial intelligence remains intact. We check those markets for you all day long here at Bloomberg. The S&P 500 up 7 tenths of a percent. NASDAQ up a little more than 1%. The Dow up about a half percent. The 10-year Treasury yield at 4.05%. The 2-year yield at 3.46%.
What recent tariff changes did President Trump announce?
Bitcoin is now higher, 6.5% higher. around $68,200. And Kava Group gave a rosy outlook for 2026 and reported fourth quarter sales growth showing the Mediterranean chain is outperforming its fast casual rivals while bucking expectations for a slowdown. Shares of Kava at this hour, about 24% higher. 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 AI competitiveness and economic growth, while safety-oriented discussions have yet to gain meaningful traction at the federal level. Senator Elizabeth Warren is criticizing Defense Secretary Pete Hegseth for his threats against Anthropic.
Hegseth threatened to cut Anthropic out of the Pentagon's supply chain or to 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 Hegseth's threat extortion. Richmond Fed President Tom Barkin says if AI does disrupt business and the labor market, interest rate policy should not be used to counter that. 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.
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