Bloomberg Daybreak: US Edition Trump Goes Dovish On China Tariffs, Fed Pressure, Cabinet Confirmations Push
Jan 24, 2025
President Trump reveals a surprising preference to avoid imposing tariffs on China, signaling a shift in his economic strategy. He plans to discuss potential interest rate cuts with Fed Chair Jay Powell, reflecting concerns over the economy. Meanwhile, Senate efforts are ramping up to confirm Trump's Cabinet appointees amidst a backdrop of market fluctuations influenced by legal rulings and global events. With Trump's nuanced approach to trade and manufacturing, the implications for U.S.-China relations and the broader economic landscape are poised to evolve.
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Trump Softens on Tariffs
- President Trump expresses a softer stance on China tariffs compared to his pre-election threats.
- He acknowledges tariffs as leverage but prefers not to use them.
Trump's Davos Demands
- Despite softening his stance on tariffs, Trump reiterated the threat at Davos.
- He also demanded Saudi Arabia and OPEC lower oil prices.
Trump's Remarks on Oil and Banking
- Trump linked lower oil prices to ending the Russia-Ukraine war.
- He also criticized Bank of America CEO Brian Moynihan for allegedly limiting business with conservatives.