Trump Sends Letters, Tariffs up to 70%; US Tax Bill Passes Congress | Daybreak Europe 07/04/2025
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.
On today's show, Donald Trump says letters are being sent to trading partners notifying them of the latest US tariff rates. He says for some countries it will be 10-20%, for others 60-70%. Global stocks slide on the news.
The One, Big, Beautiful Tax Bill passes Congress, paving the way for $3.4 trillion of tax cuts and increased spending. Plus, we look back on the UK Prime Minister's first year in office, after a week in which he was forced to u-turn on his flagship welfare reforms.
Today's guest: Yael Selfin, KPMG UK, Vice Chair & Chief Economist
Chapters: 00:00:00 - Daybreak: Europe 00:02:36 - Asian Shares Trade in Narrow Range on Tariff Angst 00:03:34 - Yen to Gain as Spending Surge Boosts BOJ Hike Case 00:04:25 - Air France-KLM to Boost Stake in SAS to 60.5% 00:05:18 - Trump: Will Send Nations New Tariff Rates Friday 00:06:46 - Trump's Latest Comments on Tariffs 00:07:05 - China to Cancel Part of EU Summit: Sources 00:08:12 - US Jobs Report Takes Pressure Off Fed 00:11:51 - Trump: Tax Bill is Best US Birthday Present 00:16:35 - Jane Street Curbed in India Markets After Alleged Illegal Gain 00:17:42 - SEBI Seeks to Seize $570M From Jane Street 00:20:39 - The Rise of BRICS 00:23:18 - Russia Unleashes Drone Attack on Ukraine 00:26:12 - Starmer Marks One Year in Office Saturday 00:28:28 - Challenges Ahead for UK Prime Minister Keir Starmer 00:29:51 - Yael Selfin, KPMG UK Vice Chair & Chief Economist 00:36:05 - OPEC+ Weights Another Super-sized Hike 00:40:32 - Big Take: Greece's Painful Decade of Rehabilitation 00:42:48 - Greece Has Outperformed Its Euro Area Peers 00:45:14 - Fed's Bostic on Fed Rate Path, Inflation and Policy
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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.
On today's show, Donald Trump says letters are being sent to trading partners notifying them of the latest US tariff rates. He says for some countries it will be 10-20%, for others 60-70%. Global stocks slide on the news.
The One, Big, Beautiful Tax Bill passes Congress, paving the way for $3.4 trillion of tax cuts and increased spending. Plus, we look back on the UK Prime Minister's first year in office, after a week in which he was forced to u-turn on his flagship welfare reforms.
Today's guest: Yael Selfin, KPMG UK, Vice Chair & Chief Economist
Chapters: 00:00:00 - Daybreak: Europe 00:02:36 - Asian Shares Trade in Narrow Range on Tariff Angst 00:03:34 - Yen to Gain as Spending Surge Boosts BOJ Hike Case 00:04:25 - Air France-KLM to Boost Stake in SAS to 60.5% 00:05:18 - Trump: Will Send Nations New Tariff Rates Friday 00:06:46 - Trump's Latest Comments on Tariffs 00:07:05 - China to Cancel Part of EU Summit: Sources 00:08:12 - US Jobs Report Takes Pressure Off Fed 00:11:51 - Trump: Tax Bill is Best US Birthday Present 00:16:35 - Jane Street Curbed in India Markets After Alleged Illegal Gain 00:17:42 - SEBI Seeks to Seize $570M From Jane Street 00:20:39 - The Rise of BRICS 00:23:18 - Russia Unleashes Drone Attack on Ukraine 00:26:12 - Starmer Marks One Year in Office Saturday 00:28:28 - Challenges Ahead for UK Prime Minister Keir Starmer 00:29:51 - Yael Selfin, KPMG UK Vice Chair & Chief Economist 00:36:05 - OPEC+ Weights Another Super-sized Hike 00:40:32 - Big Take: Greece's Painful Decade of Rehabilitation 00:42:48 - Greece Has Outperformed Its Euro Area Peers 00:45:14 - Fed's Bostic on Fed Rate Path, Inflation and Policy
More on Bloomberg Television and Markets
Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/
Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/
More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio
Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals
Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts