'Nonsensical' Trade War, Possible China Relief, Billionaire’s Tariff Pain

5 snips

Apr 24, 2025

Business leaders are pushing back against rising tariffs, warning of disruptions and price hikes due to trade tensions. Meanwhile, President Trump is reconsidering his aggressive stance on China after meetings with major retail executives. A prominent hedge fund manager highlights how the trade war is stalling business growth. The UK's cautious approach to U.S. trade deals is underscored, and BNP Paribas reports strong earnings amid market volatility. The intricate nature of international negotiations continues to pose challenges as firms navigate a complex economic landscape.

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INSIGHT

Trade War Disrupts Business Growth

Ken Griffin says the trade war has destroyed US business focus on long-term growth.
He warns the situation has become 'nonsensical,' disrupting supply chain and sourcing strategies.

INSIGHT

Tariff Plans Depend on China Deal

Trump hints at setting new tariffs for China within weeks but depends on negotiation progress.
Officials discuss tiered tariff reductions dependent on China's engagement and ongoing talks.

INSIGHT

UK Prioritizes Quality Trade Deal

UK Chancellor Rachel Reeves says UK won't rush a US trade deal and will stand firm on safety standards.
UK's approach emphasizes securing a quality deal in national interest over haste.

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On today's podcast:

(1) Confronted with fresh warnings from financial markets, business leaders and top advisers, President Donald Trump this week eased off on two of his frequent punching bags: Jerome Powell and China.He turned down his aggressive rhetoric a day after meeting with executives from Walmart Inc., Home Depot Inc. and Target Corp., who said import taxes could disrupt supply chains and raise the prices of goods, according to people familiar with the matter

(2) Citadel founder Ken Griffin said President Donald Trump’s trade war has derailed business leaders’ plans to spend the next four years focusing on growth.
Griffin had previously criticized Trump’s tariffs even though he said he agrees with the president’s assessment of the issues that the US faces.

(3) President Trump has mused that he could announce tariff rates for countries, including China, “over the next two to three weeks.” At the same time, Trump said the deadline would ultimately depend on whether China engaged.

(4) The UK isn’t in a hurry to strike a deal with the US that lowers the tariffs President Donald Trump’s administration has slapped on British imports, Chancellor of the Exchequer Rachel Reeves said, highlighting that Britian is prepared to stand by red lines on safety standards.

(5) BNP Paribas SA reported record income from equities trading as the French lender rode the global market volatility in the first quarter of this year. The French lender on Thursday reported a 42% surge in equities trading revenue to €1.19 billion ($1.35 billion) in the three months through March, beating even the most optimistic analyst estimate. It was also the highest in data compiled by Bloomberg and going back to 2007.

(6) Companies moving office in London last year leased more expansion space than they have done since 2019, just the year before the coronavirus pandemic upended white-collar working practices and sent shock waves through commercial real estate markets.

(7) Podcast conversation: Gyms Might Never Be the Same

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