Bloomberg Daybreak: Europe Edition
Chips & Drug Probes, Tariffs Double Prices, Harvard Funding Freeze
Apr 15, 2025
Delve into the tensions of U.S.-China trade talks with insights from the US Trade Representative. Explore the impact of proposed tariffs on semiconductor and pharmaceutical imports and their potential effects on consumer prices. Hear Treasury Secretary Bessent's take on the bond market selloff and the tools available to manage disruptions. Uncover the UK’s consumer spending resilience despite financial struggles and the heated standoff between the Trump administration and Harvard over federal funding.
20:30
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Quick takeaways
- The U.S. administration's decision to impose tariffs on semiconductor and pharmaceutical imports is aimed at reshoring and altering supply chains.
- Harvard University's $2.2 billion funding freeze highlights tensions between government demands and the independence of elite educational institutions.
Deep dives
New Tariffs on Semiconductors and Pharmaceuticals
The U.S. administration is initiating investigations into semiconductor and pharmaceutical imports as part of a strategy to implement sector-specific tariffs. This approach aims to promote reshoring, as indicated by analysts who believe it could have a more significant impact than reciprocal tariffs, which allow for relocation of goods based on trade deals. The idea to introduce temporary exemptions for vehicles and parts might provide additional time for domestic manufacturers to adjust to new conditions. Amidst this uncertainty, confusion is rampant among companies trying to navigate the evolving trade policies.
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