Bloomberg Daybreak: Europe Edition Trump Seeks Reciprocal Tariffs, HSBC Job Cuts & European Security Concerns
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Feb 14, 2025 President Trump is pushing for reciprocal tariffs, stirring up trade tensions with key partners. Meanwhile, Ukraine’s Zelenskiy claims Russia is untrustworthy and seeks stronger U.S. security guarantees. HSBC announces job cuts as it undergoes a major restructuring under new leadership. In the U.S., JPMorgan's Jamie Dimon reconsiders diversity spending while asserting their commitment to community support. There's optimism in European markets, with the Eurostox 50 index reaching historical highs amidst positive investment sentiments and tariff deliberations.
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Reciprocal Tariffs
- President Donald Trump ordered his administration to consider imposing reciprocal tariffs on numerous trading partners.
- These tariffs aim to offset levies on US goods and non-tariff barriers, addressing US trade deficits.
Additional Tariffs and Trade Negotiations
- Trump plans further tariffs on cars, semiconductors, and pharmaceuticals beyond reciprocal measures.
- He and Modi agreed to negotiate the US trade deficit, with Trump emphasizing India's high tariffs.
US-Russia Policy Shift
- European leaders react to US policy shift towards Russia after Trump's call with Putin.
- Zelensky warned Trump about trusting Putin, emphasizing Ukraine's involvement in peace talks.