Bloomberg Daybreak: Europe Edition Trump's Next Tariff Blitz, Reeves's £51B Hole, and Hiring Your CEO Internally
Aug 6, 2025
Donald Trump plans to impose new tariffs on countries buying energy from Russia, while also hinting at levies on semiconductor and pharmaceutical imports soon. Switzerland's president is in Washington attempting to negotiate a reduction of hefty tariffs. Meanwhile, concerns arise over the UK’s £51 billion shortfall impacting the autumn budget. The podcast also discusses the benefits and challenges of promoting internal candidates for CEO roles amid economic turmoil, raising questions about leadership strategies in major companies.
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Trump's Expanding Tariff Targets
- President Donald Trump plans to impose new tariffs on pharmaceuticals, semiconductors, and countries buying Russian energy.
- India is singled out as a key target soon due to high tariffs and Russian energy purchases.
Switzerland's Unexpected Tariff Bid
- Swiss President Karin Keller-Sutter arrived in Washington without a formal invitation to negotiate lowering the 39% tariff.
- Switzerland seeks deals on gold, agriculture, planes, drugs, and energy to avoid the tariff's impact.
Rising Wall Street Bonuses and AI
- Wall Street bonuses are set to rise as market momentum boosts equity and debt traders.
- Firms consider AI to help manage staffing costs amid this financial upswing.