Funding & Business
Trump Tariff Blitz Unleashes Delayed Shock to Global Economy
Four months after Donald Trump shocked the world and roiled markets by unveiling a placard full of tariff rates at the White House Rose Garden, his revisions unveiled Thursday generated a more subdued response among investors. But at an average of 15%, the world is still facing some of the steepest US tariffs since the 1930s, roughly six times higher than they were a year ago. Trump’s latest volley outlined minimum 10% baseline levies, with rates of 15% or more for countries with trade surpluses with the US.
Trump extended Mexico’s current tariff rates for 90 days to allow more time for trade negotiations, saying the goal now is “signing a Trade Deal somewhere within the 90 Day period of time, or longer.”
Ernie Tedeschi, Director of Economics at the Yale Budget Lab, analyzes the average tariff rate, and how the cost may be passed onto consumers. He speaks with Tom Keene and Paul Sweeney on Bloomberg Surveillance. (Source: Bloomberg)
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On Merryn Talks Money, Interactive Investor CEO Richard Wilson warns that state-initiated up-skilling programs are needed to protect livelihoods from AI.
Funding & Business
Xi, Modi Vow to Rebuild Ties During US Trade War, French Political Crisis | The Pulse 9/01/2025
Prime Minister Narendra Modi declared India and Russia share a “special” relationship, standing by each other in difficult times, in a defiant show of ties as Washington criticizes New Delhi over oil purchases. Modi used his opening remarks at a bilateral meeting with Russian President Vladimir Putin in China to signal that New Delhi’s ties with Moscow remain firm. In an unusual move, the two leaders rode together in Putin’s car to the meeting venue, spending about an hour conversing in the limo, according to people familiar with the matter.
Elsewhere, French Prime Minister Francois Bayrou struck a combative tone in his effort to gain support for a Sept. 8 confidence vote, while acknowledging that talks with political parties may fail to save his government from being ousted.
Today’s guests: Francesca Ghiretti, RAND Europe China Initiative Director, Laura Cooper, Nuveen Global Investment Strategist & Macro Credit Head
(Source: Bloomberg)
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Saudi Arabia-based quick delivery firm Ninja is looking to hire investment banks to advise on a potential initial public offering that could take place as early as next year, according to people familiar with the matter.
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