Bloomberg Daybreak: Europe Edition UPDATE: EU Will Impose 'Countermeasures' Against Trump Tariffs
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Feb 11, 2025 Kevin Whitelaw, Bloomberg's Brussels Bureau Chief, discusses the EU's firm response to potential U.S. tariffs on steel and aluminum, emphasizing their strategy for countermeasures. He analyzes the implications for international trade and touches on exemptions for Australia despite President Trump's hard stance. Whitelaw also highlights the rising tensions affecting transatlantic relations and the urgency of these economic shifts, particularly regarding Germany's position in the trade landscape. The conversation underscores the significance of European unity amidst increasing nationalism.
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EU Countermeasures to US Tariffs
- The EU plans to retaliate against US steel and aluminum tariffs, viewing them as unlawful.
- President Trump, however, insists these tariffs will boost US production and jobs.
UK's Stance on Trump
- UK Ambassador Peter Mandelson emphasizes respecting Trump's mandate despite disagreements.
- Mandelson retracts previous criticism of Trump, recognizing the need for allies to adapt.
BP Strategy Reset
- BP pledges to revise its strategy after disappointing fourth-quarter results.
- Investors await details of the "reset" amid pressure from activist investor Elliot.