Bloomberg Daybreak: Europe Edition 15% EU Tariff ‘Progress’, UK-India Trade Deal, Trader Convictions At Risk
Jul 24, 2025
In the latest discussion, the EU and US are making strides towards a 15% tariff on imports. A significant summit between the EU and Chinese President Xi Jinping reveals growing tensions. Meanwhile, Tesla faces a tough year ahead after reporting disappointing quarterly results. Cybersecurity threats escalate as vulnerabilities in Microsoft’s SharePoint servers reveal a surge in compromised organizations. Lastly, British car production hits historic lows, raising alarms in the industry.
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EU-US 15% Tariff Progress
- The EU and US are nearing a deal to set a 15% tariff on most imports, including cars from the EU.
- This aims to avoid Trump’s threatened 30% tariffs and could mirror the earlier deal with Japan.
UK-India Trade Deal Highlights
- The UK-India free trade deal will cut India's tariffs on UK goods from 15% to 3%.
- India will give zero duties on 99% of its exports to the UK, boosting UK-India trade relations.
UK Car Production Decline
- UK car production has hit its lowest level since 1953, with car output down 7.3% and van production down 45%.
- The industry remains export-focused but faces uncertainty from US tariffs and other trade factors.
