Bloomberg Daybreak: Asia Edition
Biden Unveils China Tariffs, Alibaba & Tencent Earnings
May 15, 2024
Sean Darby, John Liu, and Vlad Savov discuss US tariff hikes on China, earnings reports from Alibaba and Tencent, and implications of President Biden's actions. They also touch on topics like economic outlook, geo-political tensions, and the strategies and challenges faced by the Chinese tech giants.
26:56
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Quick takeaways
- Federal Reserve plans to maintain higher borrowing costs to control inflation, hinting at stable policy rate in the near term.
- US-China trade tensions intensify with Biden's tariffs on Chinese goods, impacting global supply chains and high-end technology products like semiconductors.
Deep dives
Economic Insights from Fed Chair Jay Powell
Fed Chair Jay Powell emphasizes the need for patience regarding interest rates to curb inflation. He expects inflation to decrease gradually, mentioning that the next move may not be a rate hike, but rather maintaining the policy rate. Powell's outlook suggests keeping borrowing costs higher for an extended period.
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