Bloomberg Daybreak: US Edition US Eyes China Tariff Cut; Trump's Plan to Tax Millionaires
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May 9, 2025 Bill Ferries, a senior editor at Bloomberg News, discusses critical U.S.-China trade negotiations aimed at easing economic tensions. He reveals how the Trump administration is considering significant tariff cuts to alleviate growing pain for both nations. Additionally, Ferries provides insights into President Trump's proposal to raise taxes on millionaires to fund his economic agenda. The conversation explores the intricate relationship between trade policies and global dynamics, including implications for businesses and international relations.
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U.S.-China Talks Target De-escalation
- The upcoming U.S.-China talks aim for de-escalation amid rising trade tensions and economic pain.
- A possible tariff reduction below 60% is being considered as a first step to ease tensions.
U.S.-U.K. Trade Deal is Limited
- The U.S.-U.K. trade framework provides market access but is not a full trade deal.
- Tough issues like digital taxes and food regulations remain unresolved and will take much longer to negotiate.
Boeing Wins Big UK Order
- Boeing received an order from IAG for 32 aircraft with options for 10 more.
- This order boosts Boeing's confidence amid global tariff challenges.