Bloomberg Daybreak: Asia Edition Trump Extends Deadline for Tariffs on the European Union
13 snips
May 26, 2025 
Stephanie Leung, Chief Investment Officer at StashAway, discusses the implications of President Trump's tariff threats against the EU and the strategic extension of deadlines. Kurt Tong, Managing Partner at the Asia Group, provides insights into the burgeoning partnership between Nippon Steel and U.S. Steel and Japan's aspirations for a U.S. trade deal. They dive into the complexities of U.S.-Japan trade relations, addressing potential obstacles and the evolving dynamics of international trade amid geopolitical tensions.
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US-EU Tariff Deadline Extension
- President Trump extended EU tariffs deadline from June 1 to July 9 after speaking with Ursula von der Leyen.
- The EU aims to swiftly advance trade talks to avoid those tariffs, showing strategic negotiation delays.
Trump's Trade Negotiation Style
- Trump uses aggressive negotiation tactics, including threatening large tariffs and walking out last minute.
- However, he operates under political and economic constraints, affecting the trade deal outcomes.
Fiscal Concerns Weigh on Bonds
- Rising U.S. Treasury yields reflect fiscal dominance concerns, not just inflation or tariffs.
- Bond markets are showing more weakness and volatility than equities amid these fiscal worries.