Bloomberg Daybreak: US Edition Trump's Trade War Upended by Courts; Nvidia Rallies on Upbeat Forecast
May 29, 2025
A recent court ruling has thrown President Trump's tariff strategy into chaos, blocking many of his imposed import taxes. Meanwhile, Nvidia's CEO reassured investors with a positive sales forecast, indicating robust growth in the AI sector despite worries about a slowdown in China. Tensions escalated as China criticized the U.S. for revoking Chinese student visas, raising concerns about international relations. The podcast also explores the impacts of these trade disputes on the education sector and market sentiment.
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Court Blocks Many Trump Tariffs
- A US court ruled many of Trump's tariffs illegal, citing improper use of national security claims.
- This decision disrupts the administration's tariff strategy and challenges ongoing trade negotiations.
Trump Defends Tariff Negotiation Approach
- President Trump calls lowering tariff threats negotiation, rejecting the idea he backs down easily.
- He uses tariffs to compel countries like the EU to the negotiating table quickly.
Nvidia Overcomes China Revenue Loss
- Nvidia posted a 69% sales increase despite losing $8 billion in Chinese revenues due to export restrictions.
- The company compensates losses with strong demand elsewhere and expects continued growth.