Bloomberg Daybreak: US Edition US-EU Speed Up Trade Talks; Trump's Latest Harvard Threat
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May 27, 2025 Trade tension eases as the EU accelerates discussions with the U.S. to avert a war over tariffs. President Trump threatens to redirect funding from Harvard to trade schools, adding fuel to his clash with higher education. In financial news, HSBC restructures by cutting analysts amid competitive pressures. The podcast also touches on sports highlights, such as the Yankees' victory, while keeping listeners informed about crucial global and economic developments.
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Trump Targets Harvard Funding
- Trump aims to cut $3 billion in grants from Harvard and redirect to US trade schools.
- This escalates a clash involving frozen federal funds and restrictions on foreign students at Harvard.
Steelworker Cheers US-Japan Deal
- Steelworker Glenn Thomas reacts joyfully to the US-Japan steel partnership expected to create 70,000 jobs.
- The deal announcement reversed earlier uncertainty and lifted U.S. Steel shares.
NVIDIA Dominates AI Chip Market
- NVIDIA remains dominant in AI chips with the market still undersupplied.
- Its share surge reflects strong confidence despite macroeconomic and tariff uncertainties.