Bloomberg Daybreak: Europe Edition Trade Pacts Prove Elusive, Treasuries Testing 5%, Temu & Shein Eye Europe
Jun 3, 2025
In a landscape of elusive trade deals, U.S.-China tensions escalate as tariffs loom large. Treasury yields face new highs, stirring concerns over economic health. Meanwhile, Macron and Meloni seek to mend ties amid shifting geopolitical sands. In Istanbul, Russia and Ukraine's talks falter, yet hint at potential prisoner exchanges. The UK pivots towards enhancing NATO's nuclear stance, with questions about its future role, while immigration policy changes spark uncertainty for migrants. E-commerce giants like Temu and Shein navigate Europe's regulatory maze.
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Potential Trump-Xi Call Impact
- A call between Presidents Trump and Xi could restart trade negotiation momentum.
- However, such high-level engagement remains unlikely, risking continued tension delays.
US-EU Trade Tensions Rise
- US-EU trade talks face challenges as US threatens 50% tariffs on EU imports.
- EU may retaliate swiftly if tariffs proceed, complicating trade relations.
US Fiscal Concerns Affect Bonds
- Rising US Treasury yields reflect worries about tariff policies and fiscal deficits.
- Market confidence in US institutions is deteriorating amid fiscal challenges.