News when you wanted with Bloomberg News. Now I'm Doug Chrisner. The US Trade Court has dealt a major blow to the Trump administration. It found the president's global tariffs are illegal, and now these levees have been blocked. A panel of three judges at the US Court of International Trade in Manhattan sided with Democratic led states and a group of small businesses. They successfully argue that Trump had wrongfully invoked
an emergency law to justify these tariffs. Here is Bloomberg's Eric Larson.
There were three orders that the panel found were illegal, one with his so called Liberation Day global tariffs, than another executive order issuing more tariffs against countries that had retaliated against the US. And then yet another executive order issuing more tariffs against Canada, Mexico, and China over the
sentinel and drug trafficking crisis. And the court basically held that when Congress created this law of the international Emergence the economic powers at that it never intended to give this kind of authority to the president.
That is Bloomberg's Eric Larson. Now the Trump administration has filed a notice of appeal. This case may ultimately be decided by the US Supreme Court, and it could impact trillions of dollars in global trade. We go next to the most important earnings report of the week after the Bell, and Vidia gave a solid forecast for revenue in the
current quarter, even with a slowdown in China. In Vidia is now expecting sales of about forty five billion dollars, and that is after subtracting eight billion dollars in lost sales in China because of export controls. Here is Nvidia CEO Jensen Wong speaking to Bloomberg on the export control issue.
The limitations are quite quite stringent, quite limited, if you will. H twenty is as far down as we could take a hopper. We don't know how to make it even less and so that's really the but but there aren't there aren't, you know. The limitations are quite stringent, so we have we have to really think through it. Whatever we make ultimately has to add value to the market.
That was Nvidia CEO Jensen Wong speaking to Bloomberg earlier. By the way, you can catch the full conversation with Jensen Wong on the Bloomberg podcast channel on YouTube. Incidentally, shares in Nvidia. We're up by more than four percent in late US trading. Elon Musk says his time as a formal advisor to President Trump is coming to an end and it's raising questions about the future of the
Department of Government Efficiency. The effort Musk spearheaded. Musk's campaign to slash the size of the US government sent shockwaves through Washington. However, DOSEE fell short of its own high expectations for cost savings, and Musk faced criticism and backlash over his political work, and it sparked concerns among investors
over the fallout for his companies, including Tesla. The US will be again revoking visas of Chinese students, including those with connections to the Chinese government or studying in critical fields. The announcement was made this evening by Secretary of State Marco Rubio in a post on x President Trump doesn't like the nickname Taco trade Taco as in Trump always
chickens out. It's a phrase coined by a columnist at the Financial Times, and it's been adopted by traders trying to navigate Trump's trade policy and betting on him backing down. Trump has said his repeated retreats are part of a strategy to exert concessions. Here is Bloomberg's Catherine Lucy.
Well, certainly Trump wants to play to work. I think he's really bristling at the idea that he I mean, I don't think calling Trump a chicken. He does not appreciate that. You saw. He took great umbradge of that idea. And he likes a big threat. He likes to have a big stick, and so I think he's going to continue to probably escalate with some of these Traine negotiations. The question is does the suggestion of being a chicken amp them up a little bit more?
That is Bloomberg's Catherine Lucy speaking there. The Trump administration is restricting the sale of chip design software to China. We are told the Commerce Department has sent letters to at least some of the leading providers of electronic design automation telling them to halt shipments to Chinese customers. Now it's unclear how broad these restrictions will be, although we are told it could mean an effective ban on dooing
business in China. Salesforce has raised its annual forecast for revenue. It's assigned the company's latest AI product is on a path to contribute significant sales. We have more from Bloomberg's Charlie Pellett.
For the year ending in January twenty twenty six, Salesforce's revenue of forty one to forty one point three billion, up from an earlier forecast of forty point five to forty point nine billion. Leading technology platforms such as Salesforce, Microsoft off dan Service Now are competing to offer AI agents software that can complete tasks such as customer service without needing direction from a person in New York. Charlie Pellette Bloomberg.
Radio and that is news when you want it with Bloomberg News Now. I'm Doug Chrisner, and this is Bloomberg