Bloomberg Daybreak: US Edition Wall Street Elite Warm Up to Tariffs; Trump-Carney Meeting
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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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Wall Street Seeks Trade Certainty
- Wall Street leaders accept tariffs if trade policies get settled soon.
- They want certainty to reduce damage to business planning and operations.
Canada Shifts Trade Focus
- Canadian PM Mark Carney plans to protect sovereignty amid strained US ties.
- He signals a pivot toward strengthening trade relations with Europe and Asia.
Ford Auto Tariffs Impact Profits
- Ford suspends full-year guidance, citing Trump’s auto tariffs hitting profits substantially.
- The company expects $2.5 billion tariff impact, with partial offsets through strategic measures.