Eagles Defeat Chiefs 40-22; Trump Plans Tariffs on Steel, Aluminum Imports
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Good morning, I'm Nathan Hager. And I'm Karen Moscow. Here are the stories we're following today. Karen, we begin with Super Bowl 59 and the Philadelphia Eagles' blowout victory over the Kansas City Chiefs. Bloomberg's John Stashower joins us with the latest. Good morning, John. Good morning, Nathan. The Eagles this season had the NFL's top-rated defense, and in New Orleans, it was on display in the Super Bowl. Third and 16, the Holmes rollout.

Looking. Firing. Intercepted. Picked up by Cooper Djean. Gets a block. Djean is out.

Touchdown! Sports to call. Patrick Mahomes' next pass was also intercepted. Kansas City in the first half held a one-first down, only 23 yards. The Eagles built a 34-0 lead, went on to win 40-22, their second championship ever. No three-peat for the Chiefs. We'll have more coming up in sports. Nathan, Karen? All right, John, thank you. And John will have more on the big game in sports in a few minutes. President Trump was in the stands for Super Bowl LIV.

The first sitting president to make it to the game. On the way, he announced that he's preparing 25% tariffs on steel and aluminum imports into the U.S. And Bloomberg's John Tucker joins us with more. And John, who does this apply to? Well, Karen, the steel and aluminum tariffs will apply to all countries. The president making the announcement aboard Air Force One.

Well, that includes the U.S.'s biggest trading partners, Canada and Mexico, even though they had just been given 30-day reprise for other tariffs. Well, Trump didn't specify when the duties are going to take effect.

A lot of steel and aluminum buyers and sellers had expected they'd have at least until March to prepare for any new tariffs. Both sides now have to scramble to find new markets and suppliers. The move is Trump's latest in a series of threatened tariffs that have rattled markets in the recent weeks.

Yet it's still uncertain whether he's going to actually follow through on all this. In New York, I'm John Tucker, Bloomberg Radio. All right, John, thank you. And according to a report from Morgan Stanley, U.S. industry is heavily reliant on imported aluminum, while the aerospace and auto sectors use high-grade steel from overseas. Joe Doe covers metals and mining for Bloomberg News. He says investors he's spoken to are confused by the move.

I think that's the difficulty here, is it just inserts so much uncertainty and confusion because this does mean immediately people are going to have to start rethinking potential supply chains in terms of where they're getting their metal.

Bloomberg's Joe Doe says tariffs have global implications because the U.S. market sets the tone for aluminum and steel around the world. The president also says he will announce reciprocal tariffs this week on countries that tax U.S. imports. All this has gold trading in record territory right now. COMEX gold is up 1.5% at $2,930.80 per ounce. The dollar is strengthening as well. The Bloomberg Dollar Spot Index is up two-tenths of 1%.

Well, Nathan, President Trump also says Elon Musk's government efficiency team may have found irregularities in Treasury Department data. The president discussed that aboard Air Force One. There could be a problem. You've been reading about that with treasuries. And that could be an interesting problem because it could be that a lot of those things don't count. In other words, that some of that stuff that we're finding is very fraudulent. Therefore, maybe we have less debt than we thought of. And

And it's unclear whether President Trump was talking about U.S. government debt or payments processed through the Treasury Department. The White House is yet to respond to a request for comment. And meanwhile, Karen, the Kremlin is declining to confirm or deny that Russian President Vladimir Putin has spoken with President Trump. This follows a New York Post report that claimed Trump said he discussed the war in Ukraine with Putin in a phone call. The report also quoted Trump declining to say how often he has spoken to Putin. Trump reportedly said, quote,

I'd better not say. Well, Nathan, President Trump also recognized yesterday as the first ever Gulf of America Day. The proclamation was posted on the White House website as Air Force One flew over the body of water renamed from the Gulf of Mexico on his way to Super Bowl 59. And along with potential tariffs, Karen, traders await comments this week from Jay Powell. Fed chairman delivers his semiannual testimony to lawmakers on Capitol Hill tomorrow and Wednesday.

Powell is expected to highlight the resilient economy as a reason to keep interest rates steady with proposed policies from the Trump administration potentially keeping inflation elevated. And coming off last Friday's jobs numbers, Claudia Somm with New Century Advisors expects the January Consumer Price Index.

to also reinforce the Fed's position. This very much continues the Fed's, you know, the labor market's in a good place. We have the luxury of time. We can wait and see. The next most important data are with the CPI and to see if we continue to make progress. And everything they've got here kind of lets them stay in that, you know, on that trajectory.

New Century Advisors Chief Economist Claudia Somm. Traders get the January consumer price data on Wednesday. And stay with Bloomberg for full coverage of Chair Powell's testimony. We will carry it live on Bloomberg Radio and on the Bloomberg podcast page on YouTube.

Well, Nathan, the company news now. Elon Musk says he is not interested in buying TikTok for now and hasn't put in a bid for the Chinese-owned social video app. At a weekend conference in Germany, Musk said he does not use TikTok and doesn't have plans for what he'd do with the company.

Last month, Bloomberg News reported that Chinese officials were evaluating the possibility of Musk acquiring TikTok's U.S. operations if it could not fend off a ban in the U.S. Also overseas, Karen, BP is facing a showdown with one of the world's most aggressive activist investors. Elliott Investment Management has built a significant stake in the British energy giant, which has seen dramatically worse returns than other major oil companies.

Elliott has successfully campaigned for breakups, ousted board members, and changed corporate policy at other companies. BP reports fourth quarter results tomorrow and a new strategy in two weeks. Finally, Nathan, President Trump says he's ordered the Treasury Department to stop minting new pennies because they cost more to make than they're worth. The president made the announcement in a Truth Social post. Last year, the U.S. Mint said it costs about 3.7 cents to produce and distribute a penny.

That was up more than 20% from the previous year, partly due to rising prices of the zinc and copper that go into pocket change. Time now for a look at some of the other stories making news in New York and around the world. And for that, we're joined by Bloomberg's Michael Barr. Michael, good morning. Good morning, Karen. Millions along the East Coast have been digging themselves out after a major snowstorm blanketed the area over the weekend. In New York City, the biggest snowfall of the season, more than three inches of heavy wet snow accumulating.

West Haven, Connecticut, like many other cities, use magnesium chloride instead of rolled salt to treat the roads. Rick Fontana is the city's director of emergency management. When you put those lines on the street and the snow hits it, and before you know it, it turns to water and it doesn't snow cover the street. Meanwhile, another system moves into the Mid-Atlantic tomorrow night. The trial of a New Jersey man accused of stabbing author Salman Rushdie in 2022 begins today in Mayville, New York.

Hadi Matar has pleaded not guilty in the case. The stabbing was recorded and witnessed by thousands of people. Rushdie had been living many years in hiding after Iran's leader in 1989 called for his assassination over alleged blasphemy. It is a red alert moment for the U.S. That is from Democratic Senator Chris Murphy of Connecticut telling ABC's This Week President Trump is waging an assault on democracy and the Constitution.

This is the most serious constitutional crisis the country has faced, certainly since Watergate. The president is attempting to seize control of power and for corrupt purposes. Senator Murphy accused the president of eviscerating democracy by trying to control how and where money is spent in order to reward political friends and punish political enemies. ABC's This Week can be heard Sundays on Bloomberg.

Routine inspections during this bird flu outbreak led to the closures of live bird markets in New York City and its suburbs to prevent spread. The virus has impacted zoos as well. The Wildlife Conservation Society says at least three ducks at the Queen Zoo and as many as 12 birds at the Bronx Zoo died from this virus.

In a growing trend, more people are microdosing Ozempic and other weight loss drugs. Some are doing it because they only want to lose a little weight. Others are microdosing for the side benefits like anti-inflammation so their faces look thinner and their cheekbones are more defined. Ashley Helms runs a medical spa in Boston.

We've really seen that there is something to customizing it for people. Some doctors, however, are skeptical of the impacts of microdosing. Global News 24 hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr and this is Bloomberg. Karen. All right, Michael Barr, thank you.

When you have bars in the sky, onboard showers and award-winning in-flight entertainment, it's no surprise that Emirates was recently named the best airline in the world. We fly you to over 140 destinations and with partners across the globe, we connect you to another 1,700 cities across six continents. So when we say we're also the largest international airline, what we really mean is...

If you're going there, so are we. Book now on Emirates.com. Fly Emirates. Fly better. Okay, business leaders, are you playing defense or are you on the offense? Are you just, excuse me. Hey, I'm trying to talk business here.

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Time now for the Bloomberg Sports Update brought to you by Tri-State Audi. Here's John Stashower. John. All right, Keone. A year ago was a disastrous finish to the Philadelphia Eagles season in their last seven games. They beat the Giants, but they lost the other six. They lost their playoff game by 23, and they began this season just 2-2. But then...

Lost only once the rest of the way, and they avenged the Super Bowl loss two years ago to Kansas City by dismantling the two-time defending champs. In New Orleans, 40-22. It wasn't that close. The Eagles were at one point up 34-0. Their coach is Nick Ceriani. It's hard to say that when you won 16 out of your last 17, but there was adversity. There's adversity everywhere.

constantly. And I think we did a good job of embracing that, the ups and downs of a season and getting better from the things that we went through. Jalen Hurts threw for two touchdowns, ran for another. Hurts was named Super Bowl MVP. You don't do great things without the guys around you. So the effort, the work, always leaning on that, trusting in that and trusting the process and staying the course and

sticking to the script. Jake Elliott takes four field goals. Somewhat quiet game for Saquon Barkley, only 57 yards. More than anything, the Eagles led the victory by their defense, holding Kansas City to one first down in the first half, only 23 yards. Interceptions on consecutive Patrick Mahomes passes, including a pick-six.

Parades in Philly are rare. It's only the third pro championship won by any of their teams in the last 40 years. The Eagles' 36-year-old offensive coordinator is Kellen Moore. He's staying in New Orleans. He'll be the new coach of the Saints. ESPN reports the Jets will not bring Aaron Rodgers back next season. That official word could come this week.

Luka Doncic's debut for the Lakers tonight traded for Anthony Davis. Davis suffered an injury in his first game with Dallas. He could miss the next month. The Belgian Thomas Dietry ran away with the WM Golf in Phoenix, finished 24 under par, won by seven. It's his first PGA Tour victory. John Staschauer, Bloomberg Sports, Karen and Ethan.

Coast 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. Good morning, I'm Nathan Hager. President Trump is promising to make good on his threats of sweeping tariffs on adversaries and trading partners alike. On his way to the Super Bowl, the president told reporters on Air Force One that he will announce 25% tariffs on steel and aluminum imports today. And he says he won't stop there.

I'll be announcing probably Tuesday or Wednesday at a news conference reciprocal tariffs. And very simply, it's if they charge us, we charge them. And for more, we are joined by Bloomberg News senior editor Bill Ferry. So, Bill, the tariff threats continue. Good morning. Yeah, good morning. Interesting. That was all taking place on President Trump's flight to the Super Bowl.

He announced that he's going to have these 25 percent tariffs on imports of steel and aluminum. But interestingly enough, two of the countries that would be most affected by that would be Canada and Mexico. Of course, he's already threatened 25 percent across the board tariffs

on those countries that's been delayed until early March, but this would hit them the most. And then it would also hit countries including allies like South Korea, Bahrain and Australia. So pretty wide range of countries that would be affected.

We still have to see whether they will really come into effect immediately or if there will be time like there was with Canada and Mexico for countries to maybe reach out and get a delay and extend the period of negotiation. And to that point, of course, we've seen the president say that he was going to impose 25 percent tariffs across the board on Canada and Mexico only to delay them for a few weeks. So what does this say about

whether this latest warning of tariffs could actually go through right away.

Well, that's the big question. We're waiting for a little more clarity from the White House. I think we have seen the 10% tariffs that President Trump announced on China go into effect, and China immediately responded. But we haven't seen the biggest threats, the 25%. He's delayed. So there is still some question in the markets, I think, about whether he really will go through with something so broad.

going after steel and aluminum, that would be a little more narrowly focused. It would hit fewer industries than, of course, just doing a blanket 25 percent on everything that comes in. Along with the tariff announcements that we're expecting this week, President Trump also suggested that Elon Musk and his government efficiency team may have found problems at the Treasury Department. Of course, we've seen the Doge team sort of blocked

when it comes to access to Treasury systems after a judge's decision. So what could the president be talking about here?

Well, that's a great question. We don't really know. We didn't get much more than kind of very general comments. President Trump made this one remark that he said, "Maybe we have less debt than we thought of." But when pressed, we've repeatedly been asking the White House, since those comments, for more clarity on what the Doge team found, what they're referring to, and we don't have a response yet.

We do know that until this point, the Doge team had been looking at a lot of the payment data that goes in and out of the Treasury Department. A judge has blocked some of their access to that. We know Scott Besant, the Treasury Secretary, said they only had read-only access. They weren't actually changing payments or canceling payments. But we didn't think that they were looking potentially at Treasury data.

There are a lot of questions I think the White House press office and the president are going to be facing as soon as they're up and running this morning. This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by 6 a.m. Eastern each morning on Apple, Spotify or anywhere else you listen.

You can also listen live each morning starting at 5 a.m. Wall 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 Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.

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