FT News Briefing Trump’s $50bn tariff haul
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Jul 21, 2025 Japan faces a shake-up as its ruling coalition loses majority control, while Europe aims to lessen its reliance on American tech. The podcast discusses the London Stock Exchange's potential move to 24-hour trading to attract younger investors. A staggering $50 billion in tariffs has enriched the U.S. government but raised concerns over increased consumer prices and retaliatory actions from countries like China. The conversation highlights the tension between America's aggressive trade policies and the future of global trade agreements.
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Japan's Political Setback
- Japan's ruling coalition lost its majority in the upper house amid voters' cost of living concerns.
- This election setback follows the party losing its lower house majority in 2019.
Europe's Tech Sovereignty Challenge
- Europe worries about dependency on US tech due to risks around privacy and data access.
- US firms dominate two-thirds of the European cloud market, a major reason for EU seeking tech sovereignty.
EU Moves to Boost Homegrown Tech
- EU's first step is awareness, progressing to favoring European firms in public procurement.
- Fragmented EU rules and funding gaps challenge local tech companies' growth compared to US firms.