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Bloomberg News Now

Trump Tariff Threats Draw EU Reaction, Minnesota Protests, More

18 Jan 2026

Transcription

Chapter 1: What is the main topic discussed in this episode?

0.031 - 8.024 Karen Moskow

Bloomberg Daybreak is your best way to get informed first thing in the morning, right in your podcast feed. Hi, I'm Karen Moskow.

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8.204 - 21.465 Nathan Hager

And I'm Nathan Hager. Each morning, we're up early putting together the latest episode of Bloomberg Daybreak U.S. Edition. It's your daily 15-minute podcast on the latest in global news, politics, and international relations.

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21.445 - 27.946 Karen Moskow

Listen to the Bloomberg Daybreak U.S. Edition podcast each morning for the stories that matter with the context you need.

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28.207 - 47.579 Nathan Hager

Find us on Apple, Spotify, or anywhere you listen. News when you want it with Bloomberg News Now, I'm Doug Krisner. Members of the European Union are discussing options for how to respond to President Trump's use of tariffs as punishment for EU support of Greenland.

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48.12 - 73.252 Nathan Hager

Greenland is a semi-autonomous territory of Denmark, itself a founding member of NATO, and Trump is threatening to seize control of the territory, potentially with military force. Over the weekend, Trump slapped 10% tariffs on goods from eight European countries supporting Denmark. And now, we are told, the EU is considering the use of retaliatory levies on $108 billion worth of U.S. goods.

73.812 - 81.422 Nathan Hager

Treasury Secretary Scott Besson spoke to NBC's Meet the Press and insisted this move is about U.S. national security.

81.841 - 109.253 Scott Bessen

It enhances United States security. And again, we have seen the Europeans are unable to push back against Russia. The U.S. is this war that never would have started in Ukraine, Kristen. We are going to settle it, but it wouldn't have started. And what President Trump is trying to do is prevent a taking or the Russian-Chinese action in Greenland in the future. So why not be strategic?

109.293 - 122.49 Nathan Hager

That is Treasury Secretary Scott Besant on NBC's Meet the Press. Meantime, Canadian Prime Minister Mark Carney saying today Greenland's future is for Denmark and Greenland to decide. Here is Carney speaking at a news conference in Qatar.

123.251 - 133.669 Scott Bessen

We always will support China. sovereignty and territorial integrity of countries wherever their geographic location is.

Chapter 2: What are the implications of Trump's tariff threats on the EU?

179.719 - 182.925 Nathan Hager

Here is Fry speaking on CBS Face the Nation.

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183.209 - 199.53 Jacob Fry

This whole dynamic is deeply concerning because supposedly they would be coming for me and targeting me for something that is core and critical to my job as mayor, and that is speaking for my residents and my constituents.

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199.51 - 221.144 Nathan Hager

Minneapolis Mayor Jacob Fry speaking on CBS Face the Nation. Incidentally, Fry went on to say he had not received a subpoena from the DOJ and that he intends to comply if he is given one. This Thursday, the Supreme Court will hear oral arguments in Trump v. Cook. This case will decide whether the president has the power to fire Fed Governor Lisa Cook.

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221.164 - 242.333 Nathan Hager

Now, this case is critical because it will address the removal protection afforded members of the Fed's Board of Governors. And it comes as the Fed's independence from political pressure is under attack. It's been just over a week since the DOJ subpoenaed the Fed over statements by Chair Jay Powell related to a renovation project of the Fed's headquarters.

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242.794 - 248.89 Nathan Hager

Former Fed Chair Janet Yellen says the attacks on Powell are unprecedented and a very dangerous thing.

249.292 - 271.198 Karen Moskow

President Trump wants the Fed to do what he thinks is best, and he's made clear he is willing to pull out all the stops to try to get his way with the Fed. Trump's idea that he could remove Powell for policy disagreements and create the precedents for that have not worked.

271.178 - 289.485 Nathan Hager

Janet Yellen there, she went on to say that Powell's term as Fed chair is up in May, but he could stay on as governor for another two years to help protect the Fed. And you can hear more from Janet Yellen on the Everybody's Business podcast. The World Economic Forum gets underway this week in Davos, Switzerland. Things kick off on Monday.

289.606 - 297.237 Nathan Hager

And among those in attendance, billionaires Ken Griffin, Jensen Huang and Larry Fink. We have a preview from Bloomberg's Charlie Pellett.

297.301 - 312.559 Charlie Pellett

They'll be appearing along with top bankers, politicians, and more than a dozen other billionaires on the official program for the World Economic Forum's annual meeting. Discussion topics range from private credit, nation's economies, and nuclear power.

Chapter 3: How is the EU planning to respond to U.S. tariffs?

348.853 - 353.38 Nathan Hager

And that is News When You Want It with Bloomberg News Now. I'm Doug Krisner and this is Bloomberg.

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358.574 - 368.229 Ed Ludlow

This is Caroline Hyde. And I'm Ed Ludlow, inviting you to join us for Bloomberg Tech, a daily podcast focusing exclusively on technology, innovation, and the future of business.

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368.59 - 372.556 Caroline Hyde

Every weekday, we bring you the top headlines from the world's biggest tech companies.

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372.757 - 378.085 Ed Ludlow

From finance to defense, AI to entertainment, and from startups to the Magnificent Seven.

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378.065 - 386.324 Caroline Hyde

We highlight the latest stories of the people and companies pushing the tech sector to new frontiers and the politics that shape global tech markets.

386.565 - 391.997 Ed Ludlow

We do this all every weekday, then bring you the most important conversations and analysis in our podcast.

392.017 - 396.748 Caroline Hyde

Search for Bloomberg Tech on YouTube, Apple, Spotify, or anywhere else you listen.

396.728 - 401.224 Ed Ludlow

Join us every afternoon on your commute home and stay ahead of the tech news cycle.

401.244 - 404.836 Caroline Hyde

That's the Bloomberg Tech Podcast. I'm Caroline Hyde in New York.

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