US-Iran Stalemate; Trump Weighs In On UK Terror Plot

SPEAKER_1 (0:02)

Bloomberg Audio Studios, Podcasts, Radio, News.

Karen Moskow (0:10)

Good morning, I'm Karen Moskow.

Alexis Christoforos (0:12)

And I'm Alexis Christoforos. Here are the stories we're following today.

Karen Moskow (0:16)

All right, Alexis, and we are seeing that on a lack of progress in US-Iran talks, Iranian officials have privately expressed pessimism about reaching a deal to end and reopen the Strait of Hormuz before US midterm elections in November. We get more from Bloomberg Middle East correspondent Abir Abu Omar in Dubai.

Abir Abu Omar (0:36)

You're looking at where diplomacy stands right now, and it's pretty much the same position that it was at over the past few months. Really, with no end in sight really for this war, we have some signs to suggest that both of them are willing to come back to the negotiating table. But really, at this point, it's a question of who blinks first and who kind of succumbs, for the lack of a better word, to the other's asks.

Karen Moskow (1:00)

Bloomberg's Ebir Abul-Omar reports that a US official is saying there will be no or will not be a pact with Iran unless issues regarding the country's nuclear program are addressed.

Alexis Christoforos (1:10)

And President Trump is criticizing the UK's decision to release five men held on bail over an alleged terror plot against a Royal Air Force base. Let's get the latest now from Bloomberg's Ewan Potts in Europe. Ewan, good morning.

Ewan Potts (1:23)

Alexis and Karen, the release of the suspects arrested over the weekend has sowed confusion about an incident that authorities had described as a serious attempted attack disrupted at a late stage. The Royal Air Force base in the West of England is a key launching pad for US air strikes on Iran. But according to a British official, no viable explosives were found at the scene of the men's arrest. The chief of counterterrorism policing says that the men remain under investigation and multiple lines of inquiry are still ongoing.

In Brussels, I'm Ewan Potts, Bloomberg Radio.

Karen Moskow (1:58)

Ewan, thanks now to the latest on the trade war between the US and Canada. A US import ban on a select number of Canadian products is officially in effect. The Trump administration's latest trade restrictions block imports of motorcycles, alcoholic beverages and whey products from Canada in response to retaliatory tariffs imposed by Prime Minister Mark Carney's government on some US goods. The trade affected by the new import ban is relatively small, about $1 billion.

The US and Canada exchanged almost $900 billion of goods and services in 2025

Alexis Christoforos (2:32)

Well, Karen, back here in the US, President Trump is set to host a lunch meeting with tech and AI leaders today to launch a new government website, America.gov. Bloomberg's Amy Morris reports from Washington.

Anthropic CEO Dario Amadei is reportedly among the AI executives expected to attend the lunch meeting with President Trump. Semaphore reports, Google CEO Sundar Pichai and Metta's Mark Zuckerberg will also attend. A White House official says the new America.gov website is designed to help Americans access federal information and resources. The event will include panel discussions on AI, energy dominance, health, space and agriculture. In Washington, Amy Morris, Bloomberg Radio.

Karen Moskow (3:14)

All right, Amy, thank you. White House National Economic Council Director Kevin Haass is weighing in on artificial intelligence. He says AI will have a beneficial impact on future job growth.

Kevin Hassett (3:25)

The growth benefit of it is way bigger than you might think. The concerns, of course, are that it's going to change people's jobs, maybe cause some jobs to be replaced. Firms that start using AI see their sales go up a lot, their employment go up a lot, and wages go up a lot because the people are more productive. The firms that don't employ AI start to fail.

Karen Moskow (3:47)

White House National Economic Council Director Kevin Hassett made the comments in an interview with Bloomberg's David Weston at the New York Economic Club. Catch the conversation on the Bloomberg video hub at bloomberg.com and the Bloomberg Business App.

Alexis Christoforos (4:00)

And the artificial intelligence debate is catching the attention of Pope Leo. Axios is reporting, the Pontiff told reporters that warnings from AI researchers should be, quote, taken seriously and are not fake news.

Karen Moskow (4:13)

OpenAI is holding back a version of its Astra artificial intelligence model, Alexis, after it failed to perform as well on safety evaluations. OpenAI has reported a series of security incidents in which its AI agents have reached outside systems, adding to broader concerns about AI slipping out of human control. The company said last week that it was pausing training on its most capable models after another AI model accessed the Internet when it was supposed to be unable to do so.