Bloomberg News Now June 3, 2025: Trump Steel and Aluminum Tariffs, South Korea New Leader, More
Jun 4, 2025
The discussion kicks off with President Trump's dramatic move to double tariffs on steel and aluminum imports, sparking concerns about its economic effects. South Korea's new presidential inauguration also takes center stage. On the financial front, Toyota makes waves with a controversial buyout offer while Wells Fargo celebrates the lifting of its asset cap. The spotlight shifts to CrowdStrike, teasing their sales forecasts and the crucial role of AI in cloud security, highlighting the challenges faced by companies in tech management.
AI Snips
Chapters
Transcript
Episode notes
U.S. Doubles Steel Tariffs
- The U.S. doubled tariffs on steel and aluminum to 50%, escalating trade tensions.
- This move complicates reciprocal duty negotiations with key trading partners.
South Korea's Leadership Shift
- South Korea's Lee Jae-myung becomes president, ending conservative rule.
- He vows no more military coups and seeks better regional relations.
Musk Critiques Tax Bill
- Elon Musk criticized President Trump's tax bill as "budget-busting abomination."
- Senate Majority Leader John Thune respected Musk's Doge work but disagreed on tax issues.