Bloomberg News Now May 28, 2025: Trump Tariffs Deemed Illegal, Nvidia Eases China Concerns, More
May 29, 2025
A recent U.S. Trade Court ruling has declared the Trump-era tariffs illegal, providing relief to Democratic states and small businesses. Meanwhile, NVIDIA projects strong revenue despite facing export control challenges in China. The conversation touches on CEO comments regarding market dynamics, alongside Elon Musk's evolving political stance. It also examines implications of U.S. visa policies for Chinese students amid trade tensions, concluding with Salesforce's optimistic outlook in the competitive AI software market.
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Trump Tariffs Declared Illegal
- The U.S. Trade Court ruled Trump-era global tariffs illegal, citing an improper invocation of emergency powers.
- This decision challenges the scope of presidential authority under the International Emergency Economic Powers Act.
Nvidia's Resilience Amid China Export Controls
- Nvidia projects $45 billion revenue despite an $8 billion sales loss in China due to export controls.
- CEO Jensen Huang describes export limits as stringent but manageable within product market value.
Elon Musk Exits Trump Advisory Role
- Elon Musk is ending his formal advisory role to Trump, raising questions about his government efficiency project.
- His political work faced criticism and caused investor concerns about impacts on Tesla and other ventures.