Bloomberg Daybreak: Europe Edition ‘Targeted’ Tariffs Drive Stocks, Turkey Turmoil & Crunch Week For Reeves
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Mar 24, 2025 Emerging signs of a more measured approach to tariffs by Trump boosted US and European stock futures. The UK government is considering changes to its digital services tax amid trade concerns. In Turkey, the arrest of Erdogan's main rival is stirring up market instability. Mark Carney raises alarms about US intentions towards Canada. Meanwhile, US and Ukrainian officials are in discussions to halt Russia's invasion, with global markets watching cautiously.
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Market Reaction to Trump's Tariffs
- US and European stock futures climbed on signs of more measured tariffs from President Trump.
- Traders remain cautious, aware of potential policy reversals.
UK Digital Services Tax
- The UK government considers reducing or abolishing its digital services tax to avoid US tariffs.
- Chancellor Rachel Reeves said changes to the tax could be part of trade negotiations.
Carney's Campaign Focus
- Canadian Prime Minister Mark Carney launched his election campaign by warning of US President Trump's intentions.
- Carney claims Trump wants to annex Canada, emphasizing his campaign on protecting Canada from US aggression.