Trump Geopolitics Push; ICE Raids in Boston

0:00Bloomberg Daybreak U.S. edition is brought to you by OTC Markets Group. OTC Markets' overnight platform for exchange-listed securities, Moon ATS, provides access to global securities in U.S. dollars from 8 p.m. to 4 a.m. Eastern, Sunday through Thursday. Learn more at otcmarkets.com slash moon. Moon ATS is operated by OTC Link LLC, a FINRA-registered broker-dealer, and is available only through participating broker-dealers. When you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, that isn't always easy. Risk can touch multiple parts of an organization at the same time, often in ways that aren't immediately obvious.

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1:21Learn more at thehartford.com slash risk mitigation. Amazon Health AI presents Painful Thoughts. Why did I search the internet for answers to my cold sore problem? Now I'm stuck down a rabbit hole filled with images of alarmingly graphic sores in various stages of ooze. I can clear my search history, but I can never unsee that. Don't go down the rabbit hole. Amazon Health AI gets you the right care, fast. Healthcare just got less painful. Bloomberg Audio Studios, podcasts, radio, news. Good morning, I'm Lisa Mateo. And I'm Karen Moscow. Here are the stories we're following today. Karen, we begin with geopolitics and President Trump's comments on a variety of global issues over the weekend.

2:17The president spoke about the war in Ukraine after indicating he was ready to ramp up sanctions on Russia without providing details. He spoke with reporters at Joint Base Andrews in Maryland. I settled seven wars. This, I would have said, would have been maybe the easiest one to settle of all. But with war, you never know what you're getting. But we're going to get it. I believe we're going to get it settled. But I am not happy with them. I'm not happy with anything having to do with that war. President Trump's comments come as a massive Russian air assault struck a key government building in Kiev, killing at least four people and injuring dozens.

2:53And Lisa, U.S. Treasury Secretary Scott Bessent also commenting on secondary sanctions over the weekend, saying they could lead to an eventual deal. If the U.S. and the EU can come in, do more sanctions, secondary tariffs on the countries that buy Russian oil, the Russian economy will be in full collapse, and that will bring President Putin to the table. And U.S. Treasury Secretary Scott Bessent made those comments on NBC's Meet the Press, which you can hear Sundays on Bloomberg Radio. Meanwhile, the EU preparing new sanctions and secondary tariffs on oil and banks to further squeeze Russia's economy and pressure Vladimir Putin to negotiate an end to the war in Ukraine.

3:34The possible package comes as a delegation of EU officials head to Washington this week to discuss the potential for joint action. Well, Lisa, the president also commented on the Israel-Gaza war. In a post on social media, President Trump wrote that Hamas needs to accept his terms to end the fighting, writing, this is my last warning. Last week, President Trump's envoy to the Middle East, Steve Whitcoff, sent a new proposal to Hamas for a hostage and ceasefire deal. The president talked about the prospects of a deal last night. It's a hell of a problem. Again, it's a problem we want to solve for the Middle East, for Israel, for everybody.

4:13But it's a problem we're going to get done. So they have hostages. It could be a little bit less than 20 because, you know, they tend to die, right? They tend to die, even though they're young people largely. They're dying. President Trump's proposed deal would reportedly include the release of all remaining hostages in exchange for ending the war in Gaza. Turning now to Boston, Karen, where federal immigration agents conducted raids across the city and nearby communities, arresting dozens of people. The Justice Department filed suit against the city and its mayor, intensifying a clash over local sanctuary policies, with Attorney General Pam Bondi calling Boston among the worst sanctuary offenders in America.

4:54President Trump has also threatened to send forces into Chicago to tackle crime. We're not going to war. We're going to clean up our cities. We're going to clean them up so they don't kill five people every weekend. That's not war. That's common sense. President Trump's border czar Tom Homan is further promising enforcement activities in Chicago and other sanctuary cities across the country. Meanwhile, Lisa in New York, Zoran Mamdani, the frontrunner in the city's mayoral race, says the city should brace itself for a deployment of National Guard troops. We have to prepare for the inevitability of that deployment.

5:30We cannot try and convince ourselves that because something is illegal, Donald Trump will not do it. New York City mayoral frontrunner Zoran Mamdani made the comments at a rally with Senator Bernie Sanders over the weekend. President Trump has so far deployed National Guard troops in Los Angeles and Washington, D.C. And in Georgia this weekend, Karen, federal agents detained 475 people at Hyundai's manufacturing complex as part of a months-long investigation into employment practices. The majority were Korean nationals and people working unlawfully were turned over to ICE for removal proceedings.

6:05Hyundai said it was closely monitoring the situation, adding that production at its electric vehicle assembly plant nearby wasn't interrupted. Let's turn overseas now, Lisa, in a major story in Paris. France's government could collapse today, with Prime Minister François Bayrou expected to lose a confidence vote in Parliament. Bayrou called the vote in a bid to pressure lawmakers into backing his budget plan, which includes spending cuts and tax hikes. Earlier, Prime Minister Bayrou spoke on French television. We are experiencing a situation that threatens the very future of the country, and everyone is whistling as if it doesn't exist.

6:43Everyone is looking the other way. Everyone is using the answers we could have provided to gain electoral advantage. I'm Francois Beirut speaking there through an interpreter. If the government collapses, President Emmanuel Macron could name a new prime minister or call fresh elections for the National Assembly. Over in Asia, Karen Shigeru Ishiba has announced that he will step down as Japan's prime minister. The move follows calls for his resignation after back-to-back election losses that cost his party its parliamentary majority. However, with no clear successor, his departure is likely to fuel uncertainty among investors.

7:21Japan's currency already slid against the dollar on concerns. Political instability will reduce the prospect of the Bank of Japan raising rates. Well, we turn to the latest on the Fed now, Lisa, and who will replace Jerome Powell as chair when his term expires in the spring. President Trump told reporters in the Oval Office that Kevin Hassett, Christopher Waller and Kevin Warsh are the finalists to replace Powell. Treasury Secretary Scott Besant, who was a contender for the job, removed himself from consideration. Over the weekend, we heard from one of the finalists, Kevin Hassett, who talked about central bank independence.

7:55Monetary policy, Federal Reserve monetary policy needs to be fully independent of political influence. Including from President Trump. Including from President Trump. The fact is that we've looked at countries that have allowed the leaders to take over the central banks. And what tends to happen is that it's a recipe for inflation and misery for consumers. And director of the National Economic Council, Kevin Hassett, made those comments on CBS's Face the Nation. Meanwhile, Citadel founder and Republican donor Ken Griffin wrote in a Wall Street Journal op-ed that it was warned President Trump's best interest for the Fed to be seen as independent and act accordingly.

8:32And in the energy space, Karen, OPAC Plus has defied traders and is going ahead with another boost in oil production. Let's get more from Bloomberg's John Tucker. And Lisa, this was an 11-minute meeting on Sunday. The oil cartel chose to start reviving a new layer of halted oil production more than a year early, rather than pausing, as the traders had initially expected. This comes right after the group completed the surprise restoration of a previous round of halted output. And it's a pretty audacious move. It signals the alliance is firmly committed to reclaiming the share of the oil market that it lost in recent years to rivals like U.S.

9:09shale drillers. It could be a sign that longer-term OPEC is breaking with its historic mission of defending crude oil prices. If they can stand to increase production at lower prices, they may be able to sink some of the competition. Initially, though, production is going to increase just 137 ,000 barrels a day in October. That's why crude prices are higher right now. And checking the price of Brent, the international benchmark, that is up 1.7%. In New York, I'm John Tucker, Bloomberg Radio.

9:42time now for a look at some of the other stories making news in new york and around the world for that we're joined by bloomberg's michael barr michael good morning good morning karen a federal trial is scheduled to begin today for man charged with trying to assassinate president trump as he played golf in florida about a year ago ryan ruth is charged with trying to assassinate then candidate trump on his golf course authorities say a secret service agent prevented ruth who'd apparently camped out for 12 hours from shooting Mr. Trump before any shots were fired. Survivors of convicted sex trafficker Jeffrey Epstein are demanding more transparency from the Trump administration as members of Congress from both parties try to force the release of the files.

10:25Kentucky Republican Congressman Thomas Massey and California Democrat Ro Khanna are calling for a bipartisan vote to compel the file's release. Massey said he suspects President Trump is trying to avoid embarrassing his supporters. I think it's going to be embarrassing to some of the billionaires, some of the donors who are politically connected to his campaign. I also think Democrats are going to be implicated in this, Democrat donors. And when you get to the billionaire level, a lot of these folks give to both parties anyway. Representative Massey made his comments on ABC's This Week or at Sundays on Bloomberg.

11:02Israeli police and medics said five people were killed by a gun attack on a bus in Jerusalem. At least 12 others were wounded in the incident, which came as Israeli-Palestinian tensions surge over the almost two-year-old war in the Gaza Strip. The gunmen were themselves shot dead by an Israeli security force member. Mayor Eric Adams says that he is staying in the New York City mayor's race. Adams called out fellow candidate Andrew Cuomo while promising to defeat Democratic frontrunner Zoran Mamdani. Andrew Cuomo is a snake and a liar. I am in this race and I'm the only one that can beat Mamdani.

11:44Andrew has had a career of pushing black candidates out of races. You've heard me say it over again. Adams also denied that he was going to Washington, D.C. today after reports the Trump administration is considering him for various roles in exchange for dropping out of the race. Global News 24 hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr and this is Bloomberg. Karen. Thanks, Michael. Time now for our Bloomberg sports update. And for that, we bring in John Stashauer. Thanks, Karen. Carlos Alcaraz, Yannick Sinner, meeting the grand slam final for the third straight time.

12:21Alcaraz won the French. Sinner won at Wimbledon. It was Alcaraz's turn. He won the U.S. Open final in four sets. What a wild Sunday night football game in Buffalo. Baltimore had a 15-point lead with four minutes to go. The Bills scored two touchdowns, then got a game-winning field goal from Matt Prater, who they had just signed days earlier to replace Tyler Bass. The Bills won by one point. That's your Bloomberg Sports Update. Stay with us. More from Bloomberg Daybreak coming up after this. Bloomberg Daybreak U.S. Edition is brought to you by OTC Markets Group. Thinking about joining the exploding overnight market space, but unsure where to start?

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15:11Coast to Coast on Bloomberg Radio. Nationwide on Sirius XM. and around the world on Bloomberg.com and the Bloomberg Business app. This is Bloomberg Daybreak. All right. Well, President Trump was busy over the weekend. He was commenting on a variety of global issues. So here to break down a few of them is Jill Deese. She's editor with Bloomberg News. Jill, thanks for joining us this morning. I want to start off the bat by talking about the president speaking about the war in Ukraine. He indicated he was ready to ramp up sanctions on Russia. What stood out the most to you in his comments? Good morning.

15:47Yes, well, I think, you know, really all we got from Trump was that he says he thinks that the Russia-Ukraine war is going to be settled. He's reiterated comments that he's not happy with Russia. And then he also said that he would plan to speak with Russian President Vladimir Putin very soon. I think what's really key, though, to remember in the context of all of this is that, you know, we've obviously been hearing this from Trump for quite a while now. It's been about 40 days or so since he was talking about the fact that he thought that he could bring an end to this war within 10 to 12 days.

16:19Obviously, this has been something that's really vexed Trump, considering it's back at the beginning of his term in office, where he was saying that he wanted to bring an end to the war in 24 hours. And we haven't really seen the needle move that much there. I think in particular, you're really seeing very little willingness from Moscow to stop this war. You're seeing, you know, European leaders talk with Zelensky in Ukraine about measures to respond to Russian attacks. So while Trump is certainly projecting this confidence over bringing an end to the war in Ukraine, I think we still have to see that substance behind it to actually know whether or not that's something that has any chance of happening anytime soon.

16:57OK, what about the Israel Gaza war? I mean, the president said Hamas needs to accept his terms to end its war with Israel. I mean, on Truth Social, he said, this is my last warning. Is it? I mean, what's the difference about his message this time around? Yeah, I think that's the thing is that, you know, there's that question of how different it actually is. What Trump was sort of getting to in addition to this warning is, you know, he's talking about, you know, trying to trying to bring up this bluster of, well, the Israelis have accepted my term. So it's time for Hamas to accept them as well.

17:29Well, I think really notable in line with that Shruth social post from Trump in particular is that it came after his envoy to the Middle East, Steve Witkoff, sent forth a new proposal to Hamas for a hostage and ceasefire deal. They were sending that through Israeli peace activists. That's according to the news outlet Axios, citing people with direct knowledge of that communication. But ultimately, it does tell you that, you know, again, while Trump is very willing to project this idea, they'll have a deal on Gaza very soon. they're working on a solution with Hamas. It's really you've got you've got to wait until, you know, there's there's terms that ultimately, you know, these sides agree to before you bring that forward.

18:08This is another one, obviously, that his administration has been working to try to bring a close to without much in the way of a permanent lasting deal. And in the last 30 seconds or so, I mean, ice raids ramping up Boston over the weekend. Now we're hearing also threatening to send forces to Chicago. Yes. I mean, I think, you know, This is all part of that really big sort of immigration crackdown that you're seeing Trump really focus on. I think that ICE raid in Georgia in particular was particularly interesting because you're talking about that focusing on a JV Hyundai LG plant. Some particular implications there for the U.S.'s relationship with South Korea, I think.

18:47So that's a really, really important one to keep an eye on. And then, yeah, I mean, when you're talking about, you know, his focus on Chicago, really kind of, you know, bringing in that idea of, you know, he campaigned really heavily on police enforcement. You know, this is something that he's going to continue to hammer on.

19:19Wall Street time on Bloomberg 1130 in New York, Bloomberg 99.1 in Washington, Bloomberg 92.9 in Boston, and nationwide on Sirius XM Channel 121. Plus, listen coast to coast on the Bloomberg Business app, now with Apple CarPlay and Android Auto interfaces. And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it, in five minutes or less. Search Bloomberg News Now on your favorite podcast platform to stay informed all day long. I'm Karen Moscow. And I'm Lisa Mateo. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.

20:05When you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, risk can affect multiple parts of the organization at once, from property and liability to cyber and regulatory challenges. At that level, managing risk becomes an ongoing discipline. At the Hartford, the focus is on helping businesses manage risk before it turns into something more disruptive. And when losses do happen, that work is paired with insurance coverage shaped by years of underwriting, risk engineering, and claims experience. Learn more at thehartford.com slash risk mitigation.

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