News when you wanted with Bloomberg News. Now I'm Doug prisoner. Open Ai is close to finalizing a forty billion dollar funding round led by soft Bank. We are told the deal is set to value open Ai at three hundred billion dollars. That is nearly double the company's previous valuation of one hundred and fifty seven billion dollars from last year. President Trump assigned an executive order imposing a twenty five
percent tariff on all foreign made cars. Here's Trump, if they're made in the United States is absolutely no terror.
We start off with a two and adred percent base, which is what we were at, and we go to twenty five percent.
And basically, as you know, and as you've been.
Saying, not reporting as accurately as it should be reported, because it's a massive story, business is coming back to the United States so that they don't have to pay tariffs.
That is President Trump speaking earlier at the White House. Last year, US auto imports to the US were valued at more than two hundred forty billion dollars. Meantime, in Canada, Prime Minister Mark Karney said these auto tariffs are a direct attack on his country. Here is Carney speaking earlier to reporters.
We're also providing the option of major liquidity for our companies. We put in place an ability for companies to delay tax payments. We've put in place a large facility for our largest companies, some of them which may be affected by this, would be affected by this. Ought to draw on liquidity in various forms so that they can take longer term decisions without undue pressure from short term, unjustified action.
That was Canadian Prime Minister Mark Carney speaking there. He went on to say that he needs to see the details of Trump's executive order before taking retaliatory measures. Treasury Secretary Scott Bessent saying tonight, the Ukrainian government is reviewing a new proposal for an economic partnership with the US. Now, this latest version is longer than the original agreement on critical minerals, and Besant is hoping it can be signed
by the two parties as soon as next week. Here is Beson speaking earlier to Fox News.
So the original document was a four page agreement. We took advantage of the gap in time to move to a completed agreement. So I am sure that we will move along and get this signed quickly.
That was Secretary of the Treasury Scott Besson, speaking earlier on Fox News. He also said sanctions relief will be determined by the next moves from the Russian government. Senator Elizabeth Warren is concerned that President Trump could fire FED Shair J. Powell, and she's also concerned by Trump's actions to undermine the Consumer Financial Protection Bureau. Warren said, pulling back on regulations that protect investors risk weakening the appeal
of US capital markets and ultimately the country's economy. Here is Warren speaking exclusively to Bloomberg.
He can just mow through the Consumer Financial Protection Bureau. It's a form of lawlessness and all the power belongs to the king that it suggests nobody is safe, not even the chairman of the Federal Reserve.
Now, Senator Warren contends the President's actions are illegal. You know, she originally opposed Powell's reappointment by President Biden because the FED chairs supported reduced financial regulations. However, Warren said she stands behind the independence of the FED as well as agencies like the Federal Trade Commission and others. By the way, you can hear the full interview with Senator Elizabeth Warren on the Bloomberg Talks podcast feed. It's available wherever you
get your podcast. One member of the FED says it's not clear any inflationary impact from tariffs will prove temporary. The head of the Saint Louis FED, Albertu Musalem, says secondary effects could prompt officials to hold interest rates steady for longer.
If you look at market measures of inflation expectations, they have actually decreased over the last few months, and they're stable and anchored. So the part of inflation next expectations that has been rising is the near term, the next year or two, and the reason clearly is expectations about tariffs.
That is the fed's Albertu Musalem. Speaking at an event in Paducah, Kentucky, he said there's greater risk inflation could stall above the fed's two percent goal or even move higher because of changes to tariffs and other factors. Last week, by the way, Fedshair Jay Powell said any inflation effects from tariffs are likely to be transitory, and that is news when you want it. With Bloomberg News now, I'm Doug Prisner, and this is Bloomberg News