Bloomberg Daybreak: Europe Edition US-UK Trade Deal Begins, Trump Tax Bill, Europe's World-Beating Rally
Jun 30, 2025
Lizzie Burden, a Bloomberg reporter, joins to discuss the evolving US-UK trade deal and its implications for global markets. She highlights the pressure on President Trump's administration as specific tariffs loom again. The conversation also touches on Canada's withdrawal of a digital services tax to revive trade talks and the impressive rebound of European stocks, which are outperforming their US counterparts. Burden provides insights into the diplomatic tensions with China and the political challenges faced by UK leadership amidst these trade dynamics.
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UK-US Trade Deal Details
- The UK-US trade deal reduced tariffs on cars from 25% to 10% and removed aerospace import taxes for the UK.
- This deal marks the only implemented agreement amid ongoing complex trade negotiations with other countries.
UK Tackles Trump Tariffs Partially
- Britain is the only nation that has successfully reduced Trump-era tariffs, specifically benefiting autos and aerospace.
- Despite progress, full tariffs on steel remain, and UK leaders stress further deals with the US and China are more impactful.
Trade Talks Progress and Doubts
- Trump administration shows mixed signals on trade talks extensions, balancing speed over substance.
- Some deals with China, EU, and Canada show progress, but overall goals of numerous deals remain unmet.