Business
Trump Dismisses Market Turmoil, Tariff Rout Deepens | Daybreak: Europe 04/07/2025
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, the market rout from President Trump’s tariffs deepens, with Asian shares making the biggest plunge in 16 years. Investors condemn Trump’s decision to launch expansive levies, but the President’s team denies they’re cause a recession. Fed Chairman Jerome Powell warns the economic impact from tariffs may be significantly larger than expected.
Today’s Guests: Francoise Huang, Allianz Trade Senior Asia & Global Trade Economist; Ludwig Ensthaler, 468 Capital General Partner.
Chapters:
00:00:00 – Daybreak Europe
00:02:42 – Asia Plunges as Tariff Rout Worsens
00:05:13 – China Weights Stimulus, Tariff Defense
00:12:11 – Trump Rejects Market Rout Fears
00:13:17 – Powell: Tariff Impact Likely Significant
00:16:38 – EU Ministers Meet Amid Trade War
00:21:24 – Netanyahu to Meet Trump in Washington
00:23:59 – Israel Backtracks Over Killing of Medics
00:26:49 – Oil Plummet as Trade Risks Rise
00:30:53 – Francoise Huang, Allianz Trade Senior Asia & Global Trade Economist
00:31:28 – Trump Digs in on Tariffs
00:36:33 – UK Vows More Tariff Suupport
00:37:16 – Chinese Objections Upend Trump TikTok Plan
00:38:22 – Trade War Stalls IPOs, M&A
00:41:23 – Ludwig Ensthaler, 468 Capital General Partner
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Business
Nvidia Chips Sought by Chinese Labs With Military Ties
At least seven Chinese universities that support the country’s armed forces and defense industry are seeking access to Nvidia Corp’s H200 chips, the most powerful artificial intelligence processors ever allowed by the US to be sold in China.
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Business
California in Focus as Six State Hold Primaries
Kyle Kondik, Managing Editor of Sabato’s Crystal Ball at University of Virginia’s Center for Politics joined Balance of Power as six states with 74 congressional districts hold primaries today. In California, this is the first election under the state’s revamped congressional map enacted by Democrats last year in response to mid-decade gerrymandering in Texas and other Republican states. California Democrats could win up to 48 districts, a net gain of five that would lift their chances of winning a House majority.
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Business
Stoltenberg Weighs In on US-NATO Tensions, Wealth Fund (full interview)
Former NATO chief Jens Stoltenberg says the tensions between the US and its European NATO allies are “more difficult to manage” now compared to when he left the alliance in 2024. Speaking with Bloomberg News Editorial Lead for EMEA Jackie Simmons at a Bloomberg Newsmakers event in Oslo, Stoltenberg also says it was “unacceptable” for the US to threaten Denmark, referring to President Donald Trump’s ambition to take Greenland.
00:00 Bloomberg Newsmaker
00:30 Stoltenberg on US-NATO
03:00 Is NATO prepared for war?
08:00 Stoltenberg on defense spending
09:30 Stoltenberg on Norway’s economy
18:30 Norway’s wealth fund
23:00 Investing in tech
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Business
S&P 500 Nine-Day Winning Streak Ends | Closing Bell
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alexis Christoforous, and Isabelle Lee.
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Business
Secretary Hegseth Reaffirms US Commitment to Pacific Allies
US Defense Secretary Pete Hegseth praised defense allies in Asia and hailed newly stable ties with China, while taking swipes at longstanding security partners in Europe. Bloomberg News Global Defense Editor Gerry Doyle joined Christina Ruffini and David Gura on Bloomberg This Weekend to discuss the comments Hegseth made Saturday at an Asia security forum in Singapore, which are the latest sign of the Trump administration shifting attention toward the Indo-Pacific while expressing antagonism toward Europe and the NATO alliance.
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