Bloomberg News Now May 8, 2025: First American Elected as Pope, US-UK Trade Framework, More
May 9, 2025
This discussion highlights the election of Cardinal Robert Francis Prevost as the first American Pope, emphasizing his dedication to Pope Francis's legacy. The conversation also dives into a new trade framework between the U.S. and the UK, analyzing its effects on international negotiations. Further, listeners gain insights into the UK-US trade deal's inconsistencies, particularly in agriculture and automobiles. The potential aircraft order from British Airways contributes to a positive buzz in the stock market.
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First American Pope Elected
- Cardinal Robert Francis Prevost is the first U.S. national elected pope, named Leo XIV.
- He is expected to continue Pope Francis' compassionate approach, especially on migration issues.
American Pope's Global Role
- The American pope is leader of the global church, not just U.S. interests.
- He must navigate the huge, diverse needs of the worldwide Catholic community.
U.S.-UK Trade Framework Limits
- The U.S.-UK trade framework is historic but limited, lacking a full comprehensive deal.
- It includes a 10% minimum tariff, which raises questions on who benefits from tariff reductions.