Latest news with #BloombergDaybreakEurope
Bloomberg
12 hours ago
- Business
- Bloomberg
Daybreak Europe 7/25/2025
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. Today's guest: Madeleine Ronner, DWS, Senior Portfolio Manager. (Source: Bloomberg)
Mint
14-07-2025
- Business
- Mint
EU to Extend Suspension of Countermeasures to Allow for US Talks
European Commission chief Ursula von der Leyen said the European Union will extend the suspension of trade countermeasures against the US until Aug. 1 to allow for further negotiations, after Donald Trump threatened a new 30% tariff rate against the bloc. These countermeasures, which the bloc had adopted in response to tariffs imposed by Trump on steel and aluminum, had been paused to allow for talks and are due to snap back automatically at midnight on Tuesday. Listen to the Bloomberg Daybreak Europe podcast on Apple, Spotify or anywhere you listen. 'At the same time, we will continue to prepare further countermeasures so we are fully prepared,' von der Leyen told reporters in Brussels on Sunday, while reiterating the EU's preference for a 'negotiated solution.' The current list of countermeasures would hit around €21 billion of US goods, while the EU has another one ready of around €72 billion. Von der Leyen also said that the EU's anti-coercion instrument, the bloc's most powerful trade tool, won't be used at this point. 'The ACI is created for extraordinary situations,' she said. 'We are not there yet.' Trump has been sending out letters to trading partners, tweaking his proposed tariff levels from April and inviting them to further talks. In a letter published Saturday, the US President warned the EU would face a 30% rate next month, if better terms can't be negotiated. The EU had sought to conclude a tentative deal with the US to stave off higher tariffs, but Trump's letter punctured the recent optimism in Brussels over the prospects for an 11th-hour agreement between the major economies. The bloc's ambassadors are scheduled to meet Sunday to discuss the trade situation. An extension of the suspension of countermeasures will need to be approved by member states. Cars and tariff levels on agriculture have emerged as key sticking points between the European Union and the US as the two sides work toward a provisional trade agreement in the coming days, Bloomberg reported previously. The EU is seeking a tariff no higher than 10% on agricultural exports. An offset mechanism that some carmakers had pushed as a way to grant tariff relief to companies in return for investments in the US isn't under consideration for now amid worries from the EU it could shift production across the Atlantic. The bloc's negotiators are focusing talks on car tariffs instead, according to people familiar with the matter, who spoke on condition of anonymity to discuss private deliberations. With assistance from Jorge Valero and Alberto Nardelli. This article was generated from an automated news agency feed without modifications to text.
Yahoo
29-05-2025
- Business
- Yahoo
Goldman Says Trump Can Offset Tariff Ruling With Other Tools
(Bloomberg) -- A court ruling that seeks to block President Donald Trump's 'Liberation Day' tariffs represents only a temporary setback to his trade agenda and can be offset by other taxes, according to analysts at Goldman Sachs Group Inc. NYC Congestion Toll Brings In $216 Million in First Four Months NY Wins Order Against US Funding Freeze in Congestion Fight NY Congestion Pricing Is Likely to Stay Until Year End During Court Case Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The judgment by the US Court of International Trade halts 6.7 percentage points of levies announced this year and the White House could use other tariff tools to make up for that, the bank's economists said in a note to clients Thursday. Listen to the Bloomberg Daybreak Europe podcast on Apple, Spotify or anywhere you listen. 'This ruling represents a setback for the administration's tariff plans and increases uncertainty but might not change the final outcome for most major US trading partners,' chief US political economist Alec Phillips wrote. 'For now, we expect the Trump administration will find other ways to impose tariffs.' The alternatives include the use of Section 232 levies, referring to the charges on steel, aluminum and auto imports on national security grounds. If all the pending investigations result in 25% tariffs and are added to current levies under the section, that would add 7.6 percentage points alone, they said. The trade court in Manhattan, siding with a group of small businesses and Democratic-led states, ruled on Wednesday that Trump wrongfully used an emergency law to impose tariffs on global trading partners. A panel of three judges gave Trump's team 10 days to halt tariff collection in a decision that the White House has already appealed. Trump has other options at his disposal to impose levies. He could apply Section 122 tariffs of up to 15% for 150 days or initiate investigations under Section 301, though those would take longer to implement. Goldman's Phillips said he doesn't expect the court's decision to have a major impact on the fiscal package in Congress, 'as tariff revenue was never counted toward offsetting the cost of the package, and most lawmakers never made a clear link between the two issues.' However, he said the tariffs the court struck down were likely to raise almost $200 billion on an annual basis, approximately the amount the fiscal package would increase the deficit next year and more than the impact in following years. 'For now, we expect the Trump administration will find other ways to impose tariffs, so we still expect most of this revenue to materialize.' US 30-year yields maintained their spread over swap counterparts — a gauge of sensitivity to fiscal risks — hovering around -89 basis points. --With assistance from James Hirai. (Updates with Goldman Sachs' view on the potential fiscal impact in the final paragraphs) Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P.
Yahoo
29-05-2025
- Business
- Yahoo
Goldman Says Trump Can Offset Tariff Ruling With Other Tools
(Bloomberg) -- A court ruling that seeks to block President Donald Trump's 'Liberation Day' tariffs represents only a temporary setback to his trade agenda and can be offset by other taxes, according to analysts at Goldman Sachs Group Inc. NYC Congestion Toll Brings In $216 Million in First Four Months NY Wins Order Against US Funding Freeze in Congestion Fight NY Congestion Pricing Is Likely to Stay Until Year End During Court Case Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The judgment by the US Court of International Trade halts 6.7 percentage points of levies announced this year and the White House could use other tariff tools to make up for that, the bank's economists said in a note to clients Thursday. Listen to the Bloomberg Daybreak Europe podcast on Apple, Spotify or anywhere you listen. 'This ruling represents a setback for the administration's tariff plans and increases uncertainty but might not change the final outcome for most major US trading partners,' chief US political economist Alec Phillips wrote. 'For now, we expect the Trump administration will find other ways to impose tariffs.' The alternatives include the use of Section 232 levies, referring to the charges on steel, aluminum and auto imports on national security grounds. If all the pending investigations result in 25% tariffs and are added to current levies under the section, that would add 7.6 percentage points alone, they said. The trade court in Manhattan, siding with a group of small businesses and Democratic-led states, ruled on Wednesday that Trump wrongfully used an emergency law to impose tariffs on global trading partners. A panel of three judges gave Trump's team 10 days to halt tariff collection in a decision that the White House has already appealed. Trump has other options at his disposal to impose levies. He could apply Section 122 tariffs of up to 15% for 150 days or initiate investigations under Section 301, though those would take longer to implement. Goldman's Phillips said he doesn't expect the court's decision to have a major impact on the fiscal package in Congress, 'as tariff revenue was never counted toward offsetting the cost of the package, and most lawmakers never made a clear link between the two issues.' However, he said the tariffs the court struck down were likely to raise almost $200 billion on an annual basis, approximately the amount the fiscal package would increase the deficit next year and more than the impact in following years. 'For now, we expect the Trump administration will find other ways to impose tariffs, so we still expect most of this revenue to materialize.' US 30-year yields maintained their spread over swap counterparts — a gauge of sensitivity to fiscal risks — hovering around -89 basis points. --With assistance from James Hirai. (Updates with Goldman Sachs' view on the potential fiscal impact in the final paragraphs) Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
19-05-2025
- Automotive
- Yahoo
Cathie Wood: Yes Tesla Brand Damage Has Happened
ARK Invest founder, CEO, and CIO Cathie Wood has told Bloomberg Radio that Tesla's brand has been hurt by Elon Musk's involvement in politics. Speaking to Caroline Hepker and Tom Mackenzie on Bloomberg Daybreak Europe, Cathie Wood said, "Brand damage, yes, it has happened." The comments come just weeks after data showed that Tesla registered only 512 new vehicles in April in the UK. Figures from the Society of Motor Manufacturers and Traders showed that new vehicle registrations were down 62% from a year earlier. Tesla's plunge was even more pronounced in Denmark, the Netherlands, and Sweden, with sales dropping by at least two-thirds in each country. Sign in to access your portfolio
