佛罗里达初选爆冷，特朗普推迟加拿大关税

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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 results from the latest primary elections. Voters headed to the polls in three states, plus a special house election in California. But the biggest upset of the night was in Florida, where a Democratic socialist beat an establishment candidate in the Democratic Senate primary. With 99% of votes counted, Angie Nixon defeated Alex Vinman 56 to 44%.

THANK YOU FOR YOUR TIRELESS work for the late nights, the too often thankless work.

Angie Nixon won despite a 16 to1 fundraising advantage for Alex Vinman. She'll go on to face Republican Ashley Moody in November. She was appointed to fill Marco Rubio's seat when he became Secretary of State.

Well, Nathan, the Florida governor's race was less of a surprise. Congressman Byron Donald's won the Republican primary with 48% of the vote despite a challenge to his right from social media influencer James Fishbach.

Because of your sweat, because of your hard work, we have won a massive victory. And Byron Donald's had President Trump's endorsement and more than hund00 million dollars in his campaign war chest. Fishbach came in third place with 10 and a half% of the vote. Donald's will now face Republican turned Democrat David Jolly who won the Democrats primary with 61%.

And Karen, there were also important House races in Florida last night. Establishment Democrats came out ahead in redrawn districts. Former Democratic National Committee chair Debbie Wasserman Schultz won in the 20th district with 45%. She'd been criticized for running in one of the nation's few remaining plurality black districts. And Congressman Jared Moscowitz defeated Democratic Socialistbacked Oliver Adams Larkin in the 25th district, 63 12 to 36 12%.

There's also an important race in Alaska, Nathan, that could determine control of the Senate in November with 70% of the votes counted. Democrat Mary Pelah and Republican incumbent Dan Sullivan will advance in the state's open primary. Palaha has 47.3% of the vote to Sullivan's 44%. The Democrat has won statewide before and she served a full term as Alaska's lone House member before losing to Republican Nick Beg in 2024.

The primary included a second Dan Sullivan, a retired school teacher with a similar name. He came in a distant third and went two and a half% of the vote. As for some other key races last night, Karen, the Republican backed by President Trump won the primary for retiring Senator Cynthy Lemus' seat in Wyoming. Congresswoman Harriet Hagaman won that race with 65% of the vote. She'll go on to face James Bird, who won the Democratic primary with 79%.

The president's preferred candidate for Wyoming governor came up short. Rancher and state senator Eric Barlo beat Superintendent of Education Megan Deanfelder 45 to 30%. Barlo will face Democrat Kenneth Castner, who ran uncontested for governor. And in the special runoff in California to serve the rest of former Congressman Eric Swallwell's term, Aisha Wahab leads fellow Democrat Melissa Hernandez 51 to 49%. Both candidates are also on the ballot for a full term in November.

Well, Nathan, we also have Global Trade and Focus this morning. The Trump administration delaying 50% tariffs on billions of dollars of Canadian products for 3 days. Less than two hours before the tariffs were set to take effect, President Trump on social media said the two countries reached a tentative agreement to resolve a broader trade dispute. Canada's Prime Minister Mark Carney was not as definitive, stopping short of saying an agreement had been reached.

We get more from Bloomberg's senior US government editor Derek Wbank.

This is a very positive sign that we're going toward a deal. And there had been a lot of worries in Ottawa and elsewhere in Canada that this was going to be a major problem coming now. Last ditch diplomacy pauses in effect.

And Bloomberg's Derek Wallbank says the two countries conducted almost $900 billion of trade with each other last year.

I want to get you to the latest developments in the Middle East. Now Karen, President Trump insists there are no talks ongoing with Iran and that leaves the conflict and control of the state of Hormuse in limbo. We get more from Bloomberg breaking news editor Patrick Sykes. The direct confrontation between the US and Iran appears to be on hold. And what we have instead are these isolated attacks on US partners or allies in the region in the Gulf in particular, mostly being interestingly denied by Iran.

We had a few days ago there was a drone attack on the prime minister of Iraqi Kurdistan's office and then just overnight we had this missile attack against the UAE. In both cases, Iran denied being connected to those attacks and it suggested that they might be false flag operations designed to implicate Iran in a new escalation of tensions.

Bloomberg's Patrick Sykes reports now the United Arab Emirates says it's cutting all economic ties with Thran after accusing the country of firing those ballistic missiles.

Well, Nathan, Meta Platforms is at the center of a historic social media trial underway in California. Opening statements were made yesterday. The lawsuit accuses the Facebook parent of contributing to a youth mental health crisis by knowingly and deliberately designing features that addict children to its platforms. Bloomberg Tech host Ed Ledllo is covering the trial.

The headline is that the meta faces $1.4 trillion in potential fines and penalties. That is obviously an astronomical number, but it's it's a hypothetical. It's based on uh the total fine they'd pay if you were to tot up each of the state and federal law violations and the potential penalties carried with each and how many counts there would be.

And Bloomberg Ledllo reporting from California. We want to clarify something on this case that we reported yesterday. The attorneys general spearheading the case are from California, Colorado, Kentucky, and New Jersey. However, a broader bipartisan group of 29 states is accusing Meta of collecting data from users under 13 years old in violation of the Federal Children's Online Privacy Protection Act.

Okay, let's turn to the markets now. Karen, futures are higher after yesterday's chipled selloff on Wall Street. Asia's chip stocks tracked the US route, but an announcement late this morning that South Korea's SKH is buying back more than $29 billion in its stock appears to have calmed the markets. Bloomberg Scarfield Reynolds has more on the state of chips.

It's part of this growing skepticism about AI and about the extent to which the extraordinary investments that are planned will end up paying off sufficiently to justify those expenses. People had been thinking that chips were immune to such concerns because everybody's going to need them. But again, there's instead the prospect of increased competition. And Bloomberg's Garfield Reynolds notes the Cosby in South Korea fell almost 6% overnight.

It's 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 Monica Ricks. Monica, good morning. Hey, good morning Karen. Well, sticking with South Korea, South Korean and US militaries have agreed to downsize their drills now at the US's request. They'll now end Friday, weeks ahead of schedule. President Trump ordered those cuts earlier this week, citing a good relationship with North Korean leader Kim Jong-un and South Korea's refusal to join the war against Iran.

A historic preservation group has told the US Supreme Court that President Trump's now trying to build his White House ballroom quickly, so the judiciary won't be able to stop him. Bloomberg's Amy Morris reports from Washington. In a filing that teased up the high court to decide the fate of the 90,000 square foot facility, the National