Bloomberg Daybreak: Europe Edition
Trump Tariffs Coming Tomorrow, Plane Crash Black Box & Women ‘Don’t Trust BOE’
Jan 31, 2025
In this discussion with Derek Wallbank, Bloomberg's senior editor for U.S. economics and government, listeners gain insights into President Trump's plans for 25% tariffs on imports from Canada and Mexico, which have already rattled foreign exchange markets. They delve into the serious implications of these tariffs on trade and immigration while examining the tragic plane crash in Washington, D.C. Additionally, Wallbank highlights a concerning study revealing that women have significantly less trust in the Bank of England compared to men amidst rising cost-of-living pressures.
17:10
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Quick takeaways
- President Trump's proposed 25% tariffs on imports from Canada and Mexico have destabilized foreign exchange markets, weakening both currencies against the US dollar.
- Research reveals that women have less trust in the Bank of England than men, exacerbated by the rising cost of living and its economic management.
Deep dives
Trump's Tariff Plans Against Canada and Mexico
The U.S. President has announced plans to impose 25% tariffs on approximately $900 billion worth of goods from Canada and Mexico. He cited issues such as immigration, drug trafficking, and trade deficits as reasons for the tariffs. This move has provoked concerns from both countries, which have indicated possible retaliatory measures that could further strain economic relations. The impending tariffs have already affected currency values, causing both the Canadian and Mexican currencies to weaken as the U.S. dollar strengthened.
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