Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim Stenovec

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President Donald Trump said that the tariffs he threatened against Apple Inc. earlier Friday would also be aimed at a wider range of device makers including Samsung Electronics Co. to spur them into moving manufacturing of their products to the US.
“It would be more,” Trump said when asked at the White House whether his tariff threat would only apply to Apple. “It would be also Samsung and anybody that makes that product, otherwise it wouldn’t be fair.” Trump indicated that the import levies would be “appropriately done” and ready for implementation by the end of June but provided no other details.

The president’s remarks clarified his social media post from earlier in the day warning that Apple would face tariffs of 25% if the Cupertino, California-based company failed to shift production of its iconic iPhone to the US from overseas. The warning came days after a Tuesday meeting between Trump and Apple Chief Executive Officer Tim Cook at the White House, a US official said.
“He said he’s going to India to build plants. I said, that’s okay to go to India, but you’re not going to sell into here without tariffs, and that’s the way it is,” Trump said. Apple’s stock fell as much as 3.9% in New York trading. Separately Friday, Trump also threatened a 50% tariff on the European Union that would go into effect June 1, which weighed on the broader market.
Today's show features:

• Bloomberg News White House Editor Jordan Fabian on Trump's 25% Tariff Threat on Apple
• CFO Briefing: Jill Woodworth, Chief Financial Officer of Prenuvo and Bloomberg News Senior Editor Nina Trentmann
• Rod Baltzer, Chief Executive Officer of Deep Isolation and Bloomberg News Energy Reporter Will Wade

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Ben Reinhardt, CEO of Speculative Technologies and Businessweek Contributing Writer, breaks down how the US should study China's playbook, create new manufacturing paradigms, and preserve American strengths, such as its scientific and technological leadership and its relationships with allies.
He argues this can be achieved by attracting foreign investment, building industrial hubs, developing new technologies like artificial intelligence, and fostering a welcoming environment for skilled immigrants, rather than relying on tariffs and isolationist policies

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The Trump Administration blocked Harvard University from enrolling international students, delivering a major blow to the school and escalating its fight with elite colleges to unprecedented levels.

The US revoked Harvard’s Student and Exchange Visitor Program certification, meaning foreign students can no longer attend the university. Existing international students must transfer or lose their legal status, the Department of Homeland Security said in a statement Thursday.

“Harvard’s leadership has created an unsafe campus environment by permitting anti-American, pro-terrorist agitators to harass and physically assault individuals, including many Jewish students, and otherwise obstruct its once-venerable learning environment,” according to the statement. The blockade on international student enrollment will compound the financial pressures for Harvard. The Trump administration has frozen more than $2.6 billion of Harvard’s funding and cut off future grants in an increasingly contentious standoff over the school’s handling of alleged antisemitism on campus and government demands for more oversight.

Trump has also called for the institution to lose its tax-exempt status, a move that the Cambridge, Massachusetts-based school has cautioned would have “grave consequences for the future of higher education in America.”
Harvard responded by calling the government’s latest action unlawful.

Today's show features:

• Bloomberg Team Leader for DC Breaking News Kasia Klimashinska on US Bans Harvard From Enrolling Foreigners
• Bloomberg News Finance Reporter Max Abelson on the Bloomberg Big Take: The Trump Family’s Money-Making Machine
• Bloomberg Intelligence Consumer Finance Analyst Ben Elliott
• Drive to the Close with Kathy Jones, Chief Fixed Income Strategist, Schwab Center for Financial Research

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Matthew Skaruppa, Chief Financial Officer of Duolingo, details the language-learning platform's push into artificial intelligence.

A Bloomberg Intelligence analysis indicates Duolingo's AI investments and expansion into math, music and chess lessons have the potential to attract more users to the platform and maintain its downloads lead in the large and fragmented language-learning market. Underpinned by the Duolingo Max subscription tier and its realistic speaking exercises, revenue could gain 33-35% in the next 12-18 months, based on our calculation and consensus.

New subscribers, pricing leverage and recent changes to Apple's App Store policy may somewhat offset the cost of AI enhancements, supporting margins and sustainable growth.
Skaruppa will also be featured on the latest installment for the Bloomberg TV series, “Chief Future Officer.”

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Wall Street’s worries about a ballooning deficit that threatens America’s status as a safe haven were reflected in a $16 billion Treasury sale that saw lackluster demand - with stocks, bonds and the dollar falling.

Treasuries got hit after a weak auction of 20-year bonds, whose 5% coupon rate was the highest since the tenor was reintroduced in 2020. Long-term debt bore the brunt of the selling, with 30-year yields jumping over 10 basis points. The equity market saw its worst session in a month, with the S&P 500’s slide topping 1.5%.

The greenback dropped against most major currencies. Bitcoin pared its advance, but was still set for a record.

Traders have been piling into bets that long-term bond yields would surge on concerns over the US’s swelling debt and deficits, with Moody’s Ratings on Friday lowering the nation’s credit score below the top triple-A level. For many, the message was: Unless America gets its finances in order, the perceived risks of lending to the government will rise.

The White House amped up the pressure on Republicans on Wednesday urging lawmakers to quickly approve President Donald Trump’s signature tax bill, adding that a failure to do so would be the “ultimate betrayal.”

Today's show features:

• Bloomberg News Rates Reporter Rates Reporter Michael Mackenzie
• Sandy Villere, Portfolio Manager for Villere & Co.
• Jenny Rooke, PhD, Founder and Managing Director of Genoa Ventures
• MP Materials Co-Founder, Chairman and CEO Jim Litinsky with Bloomberg News metals and mining reporter Joe Deaux

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Jennifer Grancio, head of ETFs at TCW, discusses investment options through ETFs amid market volatility and the trade war.

Wall Street’s rally took a breather on Tuesday, with stocks falling as traders awaited fresh catalysts after a six-day run that put the S&P 500 up almost 20% from its April lows. The US equity benchmark lost steam following an $8.6 trillion surge.

Long-term Treasury yields climbed as fractious US budget negotiations kept focus on the growth in deficit spending. President Donald Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill.

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Elon Musk said he’s committed to still leading Tesla Inc. five years from now and expects to pare back his political spending, assuaging some investors’ concerns about the future of his most valuable company.

The billionaire offered new details about his plans in a wide-ranging interview with Bloomberg News that also touched on his compensation, Tesla’s sliding sales and a possible spinoff of SpaceX’s Starlink satellite business. Musk repeated his criticisms of a familiar cast of characters, from Bill Gates to the Delaware judge who’s twice ruled against his massive Tesla pay package.

Musk, whose $375.5 billion fortune leads the Bloomberg Billionaires Index, reiterated that he wants to own more shares of Tesla for reasons of authority, rather than wealth.

“It’s not a money thing,” he said during a remote appearance Tuesday at the Qatar Economic Forum in Doha. “It’s a reasonable control thing, over the future of the company.”

Musk has been chief executive officer of Tesla since 2008, one of the longest active stints atop the world’s largest automakers. His level of engagement with the company has come under greater scrutiny as the carmaker has followed up its first annual sales drop in over a decade with steeper declines early this year.

Musk, 53, downplayed the extent of Tesla’s challenges, saying that “it’s already turned around.” When pressed about this — the carmaker’s vehicle sales continued to plunge across Europe’s biggest electric vehicle markets in April — the CEO said that the region is the company’s weakest, but that it’s strong elsewhere.

Today's show features:
Bloomberg News Senior Reporter Max Chafkin on Elon Musk’s Qatar Economic Forum interview
Siyu Huang, Co-Founder and Chief Executive Officer of Factorial Energy
Bloomberg News National Security Team Leader Nick Wadhams
Bloomberg News Senior Editor, Equities Americas Eric Weiner

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