US-China Extend Truce, NYT: Carney US Invasion Prep, More

episode

Bloomberg News Now 10 min 4 speakers 8 chapters transcribed

▲ 0

Transcript

jump: chapters · speakers · find in transcript

Transcript

Transcript generated automatically by AI and may contain errors.

What new developments occurred in the US‑China trade truce and why do they matter?

Caroline Hepker 0:00

AI is entering its most consequential phase where scale, safety and sovereignty will determine who leads and who lags. Join Bloomberg Tech in London on November 2nd and 3rd as global leaders across business, finance and policy examine the defining trade-offs shaping the future of AI. Thank you to our presenting sponsor, Salesforce, and supporting sponsors, IDA Ireland and Schneider Electric. Learn more at BloombergLive.com slash TechLondon. News when you want it with Bloomberg News Now. I'm Caroline Hepker. The US and China have extended their trade truce for another two months as Xi Jinping begins his first US state visit in 11 years. President Trump personally greeted Xi at Joint Base Andrews ahead of White House talks today.

Caroline Hepker 0:49

Treasury Secretary Scott Besant says that the deal now runs into next year.

Scott Bessent 0:55

We have agreed today that we will extend what we call the Busan Agreement, the economic detente between the two countries that was scheduled to end on November 10th. That is going to be extended until January 10th to give us more time to see what we can do on the economic front.

Caroline Hepker 1:17

But deep divisions remain over trade, rare earths, Taiwan and artificial intelligence. And exclusive Bloomberg reporting is adding another point of tension as this summit gets underway. Our team has learned that the Chinese government is holding potentially sensitive F-35 stealth aircraft parts that were inexplicably diverted to Hong Kong while being sent to the United States from Australia. with the Pentagon now trying to retrieve them.

How is Canada preparing for a possible U.S. invasion according to Mark Carney’s NYT interview?

Caroline Hepker 1:48

Separately, Bloomberg has found that Chinese source components are helping the Houthis to expand weapons production in Yemen. The findings put sensitive military technology into sharper focus as Trump and Xi begin their talks. Canada's prime minister says that he has prepared for what he calls the, quote, extreme tail risk of U.S. military action against his country. Mark Carney has told The New York Times a U.S. invasion is not his base case, but he says that it would be irresponsible not to consider the risk after President Trump's repeated claims that Canada should become an American state. Now, the comments come as Mark Carney tries to reduce Canada's dependence on the US while building closer ties to Europe.

Caroline Hepker 2:34

Foreign Minister Anita Anand told Bloomberg that Canada now sees a bigger role for itself and other middle powers.

Unknown 2:41

Ensuring that the vacuum that is left in the WTO or in geopolitical conflict environments is addressed by middle powers who want to work together for the interests of their domestic populations as well as for the global environment writ large.

Caroline Hepker 3:05

Anita Anand speaking to Bloomberg at the UN in New York. She says that Canada has signed more than 20 economic security and defence agreements across five continents over the past year. Now, an OpenAI model hacked an Australian ministry website earlier this year. Now, this marks one of the first known AI attacks on a government database. The model gained unauthorised access to files on a website for reporting healthcare statistics. Australian Prime Minister Anthony Albanese says that he has spoken to OpenAI's leadership about the incident.

What was the Australian government’s experience with an OpenAI model hacking a ministry website?

Chris Spirou 3:40

Today I spoke with the CEO of OpenAI, Sam Altman, to express Australia's extreme concern about this incident. And I also expressed my disappointment that it took the company way too long to inform the government of what had occurred and the nature of the way that that notification occurred as well was unacceptable.

Caroline Hepker 4:06

Australia's Anthony Albanese there. He added that there was no evidence that the personal information of Australian citizens was compromised. The government is now investigating whether any crimes were committed. This is the latest in a series, though, of high profile incidents involving open AI, including its models breaking into the resources of Hugging Face, a website hosting AI data sets. That was in July, of course. Well, despite continued concerns about AI safety, firms are still pressing ahead with developments to make the technology more user-friendly.