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cover of episode Trump’s Tariff Whiplash, Dollar Selloff & British Steel Emergency

Trump’s Tariff Whiplash, Dollar Selloff & British Steel Emergency

2025/4/14
logo of podcast Bloomberg Daybreak: Europe Edition

Bloomberg Daybreak: Europe Edition
AI Deep Dive AI Chapters Transcript
People
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Bob Michael
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James Wilcock
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Jonathan Reynolds
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Mark Cudmore
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Tiwa Adebayo
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特朗普总统
领导成立政府效率部门（DOGE），旨在削减政府浪费和提高效率。
Topics
特朗普总统：我将继续对手机、电脑和消费电子产品征收关税，这只是我重塑美国贸易的整体努力中的一个程序步骤。被豁免的商品只是转移到了不同的关税套餐中，政府现在将把重点放在半导体和整个电子供应链上。我将在未来不久实施关税，就像我们对钢铁、汽车和铝那样，我们也将对半导体、芯片和其他许多产品这样做。 Caroline Hepke和Stephen Carroll：特朗普总统暂停对某些电子产品的关税只是暂时的。美国宣布对包括手机和笔记本电脑在内的一些消费类电子产品免征关税，但这些产品很快就会面临单独的收费。3月份中国对美国的出口激增，这表明许多公司提前下订单以应对即将到来的关税。英国只有12%的首席财务官认为现在是承担更多风险的好时机，这仅为长期平均水平的一半。英国政府召开了紧急议会会议，接管了英国钢铁公司，这是自1982年福克兰战争以来首次在周末召开紧急议会会议。 Bob Michael：我认为，市场抛售可能还有进一步的空间，但我觉得我们已经触底了，收益率已经达到高点。 Tiwa Adebayo：英国只有12%的首席财务官认为现在是承担更多风险的好时机，这仅为长期平均水平的一半。 Jonathan Reynolds：我们不能袖手旁观，眼睁睁地看着英国剩余的高炉冷却，没有任何计划、任何正当程序或任何对后果的尊重。 Mark Cudmore：关税将长期存在，因为美国政府深信关税是必要的，以重组美国经济。虽然人们知道会有更多关税，但短期内对中国商品的豁免是一个巨大的减负。世界对美元的敞口仍然过高，而美国的政策正在损害持有美国资产的利益。美国公司持有的结构性优势正在被削弱，这导致人们对其他选择更加兴奋。 James Wilcock：中国公司景业集团在2020年收购了英国钢铁公司，但由于疫情、通货膨胀和关税等因素，它宣布了关闭钢铁厂的计划。英国政府表示，景业集团并不认真，想要10亿英镑来维持钢铁厂的运营，并且没有保证这笔资金会留在英国用于投资。英国钢铁公司每天亏损70万英镑，这使得继续运营它变得不可行。全球都在质疑全球化是否有效，英国政府已经明确表示其增长之路需要私人投资。如果英国钢铁公司倒闭，英国将成为唯一一个没有生产初级钢铁能力的七国集团国家。英国政府愿意投入国家资金来支持这些产业，但我们还不清楚财政上的权衡是什么。

Deep Dive

Chapters
President Trump's decision to temporarily pause tariffs on some electronics sparks market reactions. Despite the reprieve, the announcement of future levies on semiconductors and other sectors creates uncertainty and whipsaws global markets. China's export surge in March highlights companies' efforts to beat looming tariffs.
  • Temporary pause on tariffs for certain electronics, including phones and laptops.
  • Future levies on semiconductors and other sectors are promised.
  • China's exports surged in March due to front-loading orders to avoid tariffs.
  • The Bloomberg Dollar Spot Index slipped amid escalating trade tensions.

Shownotes Transcript

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) President Donald Trump pledged he will still apply tariffs to phones, computers and popular consumer electronics, downplaying a weekend exemption as a procedural step in his overall push to remake US trade.

(2) Strategists at Goldman Sachs Group cut their targets for key Chinese stock indexes for a second time this month, citing heightened trade tensions with the US.

(3) The dollar fell for a fifth day as traders looked past a reprieve on the imposition of certain electronic tariffs and after President Donald Trump downplayed his exemption for the technology sector.

(4) Treasuries gained after last week’s rout as President Donald Trump paused import duties on a range of consumer electronics. Investors also await speeches from Fed officials Christopher Waller and Patrick Harker.

(5) British companies’ finance chiefs had adopted their most defensive positions since the pandemic even before US President Donald Trump’s tariffs sent global markets into a tailspin.

(6) UK officials are rushing to secure the raw materials needed to keep Britain’s last primary steel manufacturer running, with other businesses offering to provide help.

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