Bloomberg Daybreak: Europe Edition

Trump Hits Powell Again, Tariff Toll Grows, Swiss Defense Stifled

Apr 30, 2025
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INSIGHT

Trump Critiques Fed Chair Powell

  • President Donald Trump criticized Federal Reserve Chair Jerome Powell while defending his economic policies and tariffs.
  • This heightens investor concerns over the Fed's independence amid aggressive US trade restructuring.
INSIGHT

Tariffs Impact China's Manufacturing

  • China's factory activity contracted sharply with manufacturing PMI dropping to 49 in April due to US tariffs.
  • Trump stated China deserves tariffs and predicted Beijing could mitigate impacts on American consumers.
INSIGHT

EU and US Trade Talks Status

  • The EU made concrete offers to the US to stabilize the global economy.
  • US Treasury Secretary Scott Besant said talks won't proceed until the EU resolves internal issues like the digital services tax.
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