

More 25% Tariffs, DOGE Cuts, Russia Sanctions & HSBC Overhaul
12 snips Feb 19, 2025
Bill Ferry, Bloomberg's senior editor, dives into the implications of President Trump's proposed 25% tariffs on various imports, potentially escalating the trade war. He discusses the future of US sanctions on Russia amid ongoing negotiations and the broader geopolitical landscape, particularly regarding Ukraine. HSBC's significant restructuring plans and $1.8 billion costs are also highlighted, reflecting changes in the banking sector. The conversation offers a compelling look at the intersection of economics and global politics.
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Trump's Tariff Expansion
- President Donald Trump plans to impose 25% tariffs on car, semiconductor, and pharmaceutical imports.
- This announcement, expected around April 2nd, significantly expands his trade war.
Musk's Government Efficiency Efforts
- Elon Musk leads the Department of Government Efficiency team, aiming to cut the US federal government's spending.
- Despite criticism and lawsuits, Musk defends their approach, emphasizing the need to control the deficit.
US-Ukraine Economic Partnership
- US Treasury Secretary Scott Besant expects Ukraine's President Zelensky to sign an economic partnership agreement with the US.
- This agreement would grant the US half of Ukraine's mineral rights as compensation for aid.