Bloomberg Daybreak: Europe Edition Blanket Tariff Hike Plan, Dimon: EU Is Losing, Santander’s Rising Star
Jul 11, 2025
Tensions rise as President Trump threatens hefty tariffs on Canadian goods, sending ripples through global markets. Jamie Dimon warns that complacency surrounding these tariffs could spell trouble. Meanwhile, Keir Starmer and Macron's migrant trial highlights post-Brexit challenges. In the banking world, Javier Garcia-Carranza's bold reforms at Santander aim to shake things up, seeking revitalization in asset management. Lastly, discussions intensify about the European Central Bank's role amidst slowing growth and budget deficits.
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Trump's Tariff Escalation Impact
- US President Donald Trump threatened blanket tariffs of 15-20% globally, escalating from the current 10% baseline.
- This policy shift has caused market unease but also illustrates uncharted trade territory with long-term unclear impacts.
Dimon's Warning on EU Competitiveness
- JPMorgan CEO Jamie Dimon warns of European market complacency amid tariff tensions.
- He highlights Europe's declining competitiveness and urges a stronger internal market to reverse economic downturns.
Bayrou's ECB Stimulus Call
- French Prime Minister François Bayrou urges the European Central Bank to support growth and consider rate cuts.
- He stresses the ECB should stimulate activity amid slowing growth and budget pressures in France.