US Eyes China Tariff Cut, Slim UK-US Trade Deal, First American Pope
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The Trump administration is considering a significant tariff reduction in talks with China to ease economic pain and de-escalate tensions. The US aims to reduce tariffs below 60% as a first step, which China may be prepared to match, with progress possible as soon as next week. (2) The new trade deal between the US and UK includes a carve-out for autos, which could reduce the tariff levy from 27.5% to 10%, making a 0.1% difference to UK GDP. The deal's impact is limited because almost half of UK value-add that ends up in the US is exported via other countries, and global uncertainty remains a major drag on the UK economy. (3) US President Donald Trump’s trade policy is upending long-held alliances, threatening global growth and causing mayhem for business. For UK homeowners, though, it is working out quite well. In the last few weeks, several major high street lenders have cut mortgage deals below 4% for the first time in months. (4) Mayor of London Sadiq Khan will “actively explore” building on the city’s green belt in what would amount to the biggest change to housing policy in the UK capital since the 1960s. The mayor will announce a consultation on releasing parts of London’s green belt in a speech Friday, saying that some building in the protected zone around the city is necessary to meet the capital’s targets and to end a housing crisis. (5) Cardinal Robert Francis Prevost was elected as Roman Catholic pontiff, the first ever pope from the US and a possible bridge between the moderate and hardline sides of a divided Church. Prevost, 69, chose the name of Leo XIV for his pontificate and was greeted by thousands of cheering faithful as he stepped out onto a balcony overlooking St. Peter’s Square to be presented to the world.See omnystudio.com/listener for privacy information.
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17:30
US-UK Trade Deal Expected Today As Trump Teases ‘Major’ Agreement
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump is expected to announce a trade agreement with the United Kingdom at a news conference Thursday morning in Washington, according to people familiar with the matter. (2) Details of An agreement are not immediately clear, but it is likely to be a framework deal that will serve as a starting point for further negotiations. The UK and US have been in intensive discussions about an economic agreement that would reduce the impact of some tariffs, with a team of British officials in Washington to negotiate terms this week, people familiar with the matter said. (3) Chancellor of the Exchequer Rachel Reeves is on track to miss both her fiscal rules by tens of billions of pounds in the UK’s autumn budget, according to a prominent economic think tank, leaving her no option but to raise taxes or cut spending. (4) The Bank of England is expected to cut interest rates by a quarter percentage point Thursday and may signal that another move is likely in June, potentially putting the central bank on course for its first back-to-back reductions since 2009 as the US trade war darkens the outlook for growth.(5) Federal Reserve Chair Jerome Powell said officials are not in a hurry to adjust interest rates, adding tariffs could lead to higher inflation and unemployment. “If the large increases in tariffs that have been announced are sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth and an increase in unemployment,” Powell said Wednesday at the conclusion of a two-day meeting in Washington. (6) The Trump administration plans to rescind Biden-era AI chip curbs as part of a broader effort to revise semiconductor trade restrictions that have drawn strong opposition from major tech companies and foreign governments, according to people familiar with the matter. Podcast conversation: Bill Ackman Bought a $4.9 Million Watch Collectors Obsess OverSee omnystudio.com/listener for privacy information.
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18:37
India & Pakistan Strikes, UK-US Trade Talks, Merz’s Chaotic First Day
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) India conducted targeted military strikes against Pakistan, which said it retaliated in expected tit-for-tat blows after a militant attack last month in Kashmir that killed 26 people. (2) India and the UK agreed to a landmark trade deal slashing tariffs on cosmetics, vehicles, alcoholic beverages and other goods, as both sides look for wins to offset the disruption of President Donald Trump’s protectionist policies. (3) The UK and US are in intensive discussions about an economic agreement that would reduce the impact of some tariffs, with a team of British officials in Washington to negotiate terms this week, people familiar with the matter said. (4) China reduced its policy rate and lowered the amount of cash lenders must keep in reserve, as Beijing ramps up efforts to help an economy caught in a second trade war with the US. (5) Friedrich Merz sought to move past an embarrassing stumble as he took power in Germany, vowing to reboot the economy and revive the country’s military. Podcast conversation: Macron Wants a Netflix in Paris, Not Just Emily: Lionel LaurentSee omnystudio.com/listener for privacy information.
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16:10
Merz Set To Take Power, BOE Mulls Tariff Cuts, Non-Dom Cost Warning
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Friedrich Merz has vowed to hit the ground running when he takes over as German chancellor on Tuesday, pledging swift action to galvanize Europe’s biggest economy, restore Berlin’s leadership role on the global stage and address voter concerns about irregular migration. (2) China’s services activity deteriorated more than expected in April, a private survey showed, the latest setback for an economy already under pressure from US tariffs. (3) Ford suspended its full-year financial guidance and said President Donald Trump’s auto tariffs will take a toll on profit, joining rivals stung by volatile global trade policies. (4) The Trump administration is declaring Harvard University ineligible for new research grants from the federal government in the latest escalation between the White House and the Ivy League school. (5) The UK’s tax overhaul for wealthy foreigners will start costing more than it raises if one in four of those affected leaves the country, according to the Centre for Economics and Business Research.See omnystudio.com/listener for privacy information.
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19:44
The CEO Radar: Behind the Tariff Headlines (Sponsored Content)
Financial analysts were far more prepared than most CEOs for the US tariffs announced on April 2. Analysts, who serve as a proxy for the financial markets, anticipated tariffs would soon be an enormous issue, mentioning the topic 62% more often than did CEOs during Q1 earnings calls. That’s the conclusion of the second edition of the CEO Radar—a tool to help CEOs determine which issues truly deserve their time and attention. It unpacks the leading topics discussed on almost 4,900 earnings calls worldwide in Q1 2025, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by BCG Global Chair Rich Lesser and Michael Brigl, Head of BCG’s Central European practice, to discuss how tariffs are likely to have a long-term effect on corporate operations.See omnystudio.com/listener for privacy information.
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