Bloomberg Daybreak: Europe Edition Trump’s New 25% Tariffs, BP’s Looming Showdown & FX Trading Is Cool Again
Feb 10, 2025
The discussion kicks off with Trump’s bold plan to impose a 25% tariff on steel and aluminum imports, stirring concerns among trading partners. Meanwhile, BP faces a critical showdown with activist investors due to poor performances. In the UK, job security anxieties are hampering economic potential, while France gears up for a massive €109 billion investment in AI. The Super Bowl victory of the Philadelphia Eagles adds a sports twist, complemented by insights into the bustling FX trading market amidst these economic shifts.
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Trump's Steel and Aluminum Tariffs
- Trump plans to impose a 25% tariff on all steel and aluminum imports, impacting various industries.
- This move broadens his trade offensive and might strain relationships with key partners like Canada and Mexico.
Potential Treasury Irregularities
- Trump suggested Musk's team found irregularities at the Treasury, possibly affecting debt calculations.
- It remains unclear whether this refers to government debt or Treasury-processed payments.
BP and Elliott Management Showdown
- BP faces a showdown with activist investor Elliott Management after underperforming compared to other oil majors.
- Elliott's involvement could lead to significant changes at BP.