Bloomberg Daybreak: US Edition US-EU Trade Deal Concerns; Trump Responds to Powell Report
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Jul 21, 2025 Intense negotiations are underway as the EU scrambles to secure a trade deal with the US before looming tariffs threaten their exports. A major cyberattack on Microsoft’s server software raises alarms over global cybersecurity vulnerabilities. Meanwhile, President Trump rebuffs claims about being advised against firing Fed Chair Powell, asserting his independence. This episode fuses global trade tensions with the fast-paced tech landscape, underscoring critical developments that could reshape economies and markets.
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EU Prepares for No-Deal Trade Scenario
- The EU is preparing for possible no-deal trade talks, facing Trump's threat of 30% tariffs on most exports.
- EU officials consider building coalitions beyond Europe to counteract potential long-term U.S. tariffs.
Trump Pushes Back on Fed Chair Report
- President Trump disputes reports that Treasury Secretary Scott Bessent advised against firing Fed Chair Jay Powell.
- Trump asserts he knows best what’s good for the markets, highlighting recent stock record highs.
Microsoft Server Vulnerability Exploited
- A critical vulnerability in Microsoft's SharePoint servers is being exploited worldwide, threatening thousands of companies.
- This breach is a prime opportunity for ransomware operators, affecting government agencies and businesses globally.