Bloomberg Daybreak: US Edition
Wall Street Elite Warm Up to Tariffs; Trump-Carney Meeting
May 6, 2025
In a dramatic shift, Wall Street's elite are warming up to tariffs despite ongoing global trade tensions. The podcast highlights Canadian Prime Minister Mark Carney's scheduled meeting with President Trump, a pivotal encounter reshaping trade dynamics. Ford Motor Co. faces financial uncertainty, foreshadowing the impact of Trump's auto tariffs. The discussion also emphasizes the urgent need for clarity in trade policies to safeguard corporate interests and navigate an unpredictable economic landscape.
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Quick takeaways
- Financial leaders stress the urgent need for clearer trade agreements from the Trump administration to mitigate long-term damage to the U.S. economy.
- Prime Minister Mark Carney's upcoming meeting with President Trump highlights ongoing tensions and a strategic shift in Canada’s trade relations.
Deep dives
Uncertainty in Trade Policies
Financial leaders express anxiety about ongoing trade policies and tariffs during the Milken Institute Global Conference, highlighting the need for certainty in decision-making. KKR co-founder Henry Kravis emphasizes that businesses are struggling to adapt due to the unpredictable nature of current trade negotiations. Corporate leaders are calling for a decisive resolution, as protracted uncertainty can lead to long-term damage to the U.S. brand according to Apollo Global Management's Mark Rowan. The participants are keen to see concrete agreements from the Trump administration to provide a clearer path forward.
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