Bloomberg Daybreak: Europe Edition Xi, Modi & Putin Make Nice, Italy-France Tax Spat, A €2 Trillion Headache
Sep 1, 2025
Roslyn Matheson, the Chief Asia correspondent, dives into Modi's pivotal trip to China, seeking to bolster ties with both China and Russia amidst rising U.S. tensions. She highlights the ongoing legal battles over Trump's tariffs and their implications for global trade dynamics. Matheson also discusses the heated tax competition between Italy and France within the EU and the looming €2 trillion upheaval in European bond markets, adding to the region's financial turbulence. It's a fascinating look at the interplay of politics and economics on a global scale.
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Modi Balances China, Russia And US Pressure
- Narendra Modi used his Tianjin trip to recalibrate ties with both China and Russia amid US pressure.
- The visits signal India balancing strategic relationships while resisting US trade and diplomatic coercion.
Court Ruling Deepens Tariff Uncertainty
- A federal appeals court ruled that Trump's global tariffs were illegally issued under the IEPA, deepening trade uncertainty.
- The decision keeps levies in place for now but raises the risk of retroactive claims and disrupted supply chains.
Two-Week Window For The Stock Rally
- The next 14 trading sessions will clarify whether the US stock rally endures as key jobs and inflation data arrive.
- Low volatility and seasonal risk make Wall Street sensitive to upcoming Fed and payroll signals.