September 1, 2025: Trump on India Tariff Response, Nestlé Removes CEO, More

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Episode Transcript

Speaker 1 (00:01):
News when you want it With Bloomberg News Now, I'm
Dan Schwartzman. President Trump said Monday that India has offered
to eliminate its tariffs in response to new US trade penalties.
It comes days after the White House impost putative fifty
percent levees on Indian goods. Trump blasted New Delhi's past
trade practices and criticized its ongoing purchases of Russian oil.

(00:22):
We get reaction from Manaj Kuwal Ramani, fellow at the
tak Shashila Institution.

Speaker 2 (00:27):
There is decades and decades of US diplomacy which has
succeeded in working with India and building shared convergences, and
I think there needs to be lessons taken from that.

Speaker 3 (00:36):
This rough shot approach is not going to yield dividends.

Speaker 1 (00:39):
Manaj Kowal Ramani of the tak Shashila Institution. Neither the
White House nor Indian officials have confirmed any new trade discussions. Meantime,
sources tell Bloomberg that Brazil's president is convening a virtual
meeting of Bricks leaders next Monday to discuss President Trump's
trade policy. Another leadership shake up at the world's largest
food company. More details from Bloomberg's area. Herskowitz.

Speaker 4 (01:01):
Nesley has named Philip Navertild it's new CEO after the
company fired Laurent Frex, who was just a year into
the job. Frex was dismissed after an investigation showed he
was carrying on an undisclosed romantic relationship with a direct subordinate.
The abrupt change adds to the turbulence at Nesley's Healm
Frex took over after the surprise houster of Mark Schneider,

(01:22):
who was led go due to a sluggish performance during
his nearly eight year tenure. Naverteld was previously senior vice
president and head of the coffee strategic business unit Erka
Herskowitz Bloomberg Radio.

Speaker 1 (01:33):
The New York Times is reporting Democratic Congressman Gerald Nadler
of New York will not seek reelection next year. Nadler
told The Times that his party in the country were
in the midst of a generational change and it was
time for nt except that reality. Nadler is currently serving
his seventeenth term in Congress. He was chairman of the
House Judiciary Committee from twenty nineteen to twenty twenty three,

(01:54):
then served as ranking member on the panel. After Republican's
one House leadership. He stepped down from the role late
last year. President Trump announcing Monday that he would award
former New York City Mayor Rudy Giuliani the Presidential Medal
of Freedom. The news comes as Juliani is recovering from
a fractured vertebrae and other injuries following a car crash
in New Hampshire. A spokesperson for the former mayor says

(02:16):
he got hit from behind on a highway Saturday night.
The eighty one year old had to be rushed to
a trauma center, but has since been released and is
said to be in quote good spirits. Open AI is
eyeing India for a new one gigawat data center as
part of its global stargate build out. Despite rising trade
tensions between Washington and New Delhi. Backed by investors like
Oracle and SoftBank, the AI giant is expanding in key

(02:39):
markets that haven't been hit by chip export controls. More
from Bloomberg's Tom mackenzie in London, they're.

Speaker 3 (02:44):
Looking for those local partners. They've seen significant growth in
the Indian market, and of course this bills out as
I mentioned that brought a stargate push for open AI.
They're committing about five hundred billion dollars alongside soft Bank
and Oracle in the US market to build outtentsch up
to four and a half gigawatts. They've got agreements that
are on the way in the UAE. I'm parts of
the Middle East to build out data center that now.

Speaker 1 (03:05):
India isn't focus at Bloomberg's Tom McKenzie reporting. While OpenAI
hasn't confirmed, the project, CEO Sam Altman may announce the
move during a visit to India later this month. As
we get closer to September's Federal Reserve meeting, San Francisco
FED President Mary Daily has suggested policymakers will be ready
to lower interest rates soon. More from Bloomberg's Charlie Pellett.

Speaker 2 (03:26):
Her comments came in a brief social media post shared
by the San Francisco Fed. She added that inflations stemming
from tariffs will likely prove temporary, saying it will soon
be time to recalibrate policy to better match our economy.
Daily says tariff related price increases quote will be a
one off. Our comments echo those from FED Shair J. Powell,

(03:49):
who recently opened the door to an interest rate cut
as soon as the fed's next policy meeting in New
York Charlie Pellett's Bloomberg Radio.

Speaker 1 (03:57):
More than eight hundred people are dead and nearly three
thousand were eight injured after a powerful earthquake shook Jella
about in eastern Afghanistan. Both numbers are expected to rise
as search and rescue efforts continue after shocks have also
forced many people from their homes. Trong jolts were also
felt in various parts of Pakistan, including Islamabad. The six
point zero magnitude earthquake is considered the deadliest disaster in

(04:19):
the region since twenty twenty three. American Amanda Nissimova advances
to the quarterfinals of the us Opia with a dominating
trade set swin over Beatrice Hadad Maya as this top
Seedyoni center in two cd ys Shiatek earlier Naomiosaka upset
Coco goff In trade sets to reach her first Grand
Sam quarterfinal in more than four and a half years.
And that's news when you want it with Bloomberg News now,

(04:41):
Dan Schwartzman, and this is Bloomberg