Bloomberg Daybreak: Europe Edition EU 15% US Tariff Deal, Starmer-Trump Meeting, Cult Trade Is Losing Bet
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Jul 28, 2025 A newly forged trade deal imposes 15% tariffs on EU exports, avoiding a potential trade war. Political dynamics heat up as UK Prime Minister Keir Starmer meets Donald Trump in Scotland to address lingering trade issues and Gaza's humanitarian crisis. Meanwhile, ongoing US-China talks aim to sustain a fragile tariff peace. Samsung makes headlines with a $16.5 billion deal to produce AI chips for Tesla, pointing to shifting priorities in the tech industry. As market sentiment wavers, traders navigate these complex global conditions.
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15% US-EU Tariff Deal Unclear
- The US-EU trade deal introduces a 15% tariff on most EU imports to the US, avoiding a harsher 30% tariff threat.
- Key uncertainties remain, especially around pharmaceuticals and metals tariffs, requiring further clarification.
Starmer and Trump Focus Trade, Gaza
- UK Prime Minister Keir Starmer and US President Donald Trump met in Scotland aiming to finalize trade talks and press for a Gaza ceasefire.
- Elements like the removal of steel tariffs and pharmaceutical sector carve-outs remain contentious.
Israel's Gaza Aid Amid Crisis
- Israel increased aid to Gaza to address food insecurity amid rising international calls to alleviate hunger.
- The Israeli government claims humanitarian supplies and corridors have been allowed despite UN and NGO concerns.