Bloomberg Daybreak: Europe Edition Trump China Tariffs Imposed, Beijing Hits Back & Starmer's US-EU Tightrope
Feb 4, 2025
Lizzie Burden, Bloomberg UK correspondent, shares insights from Brussels on Keir Starmer's diplomatic balancing act post-Brexit. She discusses China's swift retaliation to US tariffs and the implications for global trade. The conversation highlights Starmer's attempts to maintain strong ties with both the US and EU while managing intricate trade relationships. Furthermore, they explore the temporary delay of tariffs between the US, Canada, and Mexico and the pressure it places on Starmer to navigate defense spending amidst international expectations.
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China Retaliates
- China retaliated against US tariffs with tariffs on US products and a Google probe.
- This trade skirmish was triggered by Trump's 10% tariff on Chinese goods.
Tariff Delays for Canada & Mexico
- Trump delayed tariffs on Canada and Mexico after they agreed to tougher migration and drug trafficking measures.
- The concessions include Mexico sending 10,000 National Guard officers to the border and Canada creating a new strike force.
Starmer's Balancing Act
- UK Prime Minister Keir Starmer seeks to balance alliances with both the US and the EU.
- The pound has become an unlikely haven amidst the tariff turmoil.