Trump Announces New Set of Tariff Rates Ahead of August Deadline
Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariffs rates on key trading partners, including levies of 25% on goods from Japan and South Korea beginning Aug. 1.Trump also announced 25% rates on Malaysia and Kazakhstan, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy. The nations were the first in what the president promised would be a flurry of unilateral warnings and trade deals announced on Monday, two days before agreements are due from trading partners facing his April 2 so-called reciprocal levies.“Our relationship has been, unfortunately, far from Reciprocal,” Trump wrote in the letters. Trump’s second-term rush to overhaul US trade policies has served as a steady source of uncertainty for markets, central bankers and executives trying to game out the effect on production, inventories, hiring, inflation and consumer demand — routine planning that’s hard enough without costs like tariffs that are on one day, off the next.Today's show features: US Representative Kathy Castor (D-FL) on new tariff announcements from the White House and the passage of President Donald Trump’s tax and spending bill Bloomberg Economics Geo-Economic Analyst for Latin America Jimena Zuniga on this week’s BRICS summit in Rio de Janeiro Bloomberg News Texas Bureau Chief Julie Fine on deadly flash flooding in the Lone Star State Bryan Fairbanks, President and CEO of Trex, on the company outlook and key trends in US manufacturing See omnystudio.com/listener for privacy information.
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Bloomberg Businessweek Weekend - July 4th, 2025
Featuring some of our favorite conversations from our visit to Michael Loeb's estate in Southhampton Long Island for the Uncharted Community Summit. Hosted by Carol Massar and Tim Stenovec Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio. You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News. Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BWSee omnystudio.com/listener for privacy information.
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Pre-Fourth of July Special: Stock Jump on Jobs Surprise, Trump's Tax Bill Passes
Bonds fell and the dollar rose as stronger-than-forecast employment growth soothed concern the US economy is poised to slow, stanching speculation the Federal Reserve will need to cut interest rates any time soon. Stocks hit fresh all-time highs. Treasury two-year yields surged 10 basis points to 3.88%. Swap traders saw almost no chance of a July Fed cut, compared with a roughly 25% probability seen before the data. The chance of a move in September ebbed to about 70%. The S&P 500 climbed 0.8%. After the close of trading in a shortened pre-holiday session, the House passed President Donald Trump’s tax bill. On a special pre-holiday edition of The Close, hosts Romaine Bostick and Matt Miller speak with: - Bloomberg Opinion columnist Jonathan Levin - Liz Ann Sonders, Charles Schwab managing director and chief investment strategist - Patrick de Haan, head of petroleum analysis at GasBuddy - Michael Balboni, former New York State Director of Homeland Security - Scott Bessent, US Treasury SecretarySee omnystudio.com/listener for privacy information.
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ICYMI: The New Face of VC
Collab Capital is a venture firm investing at the intersection of innovation and inclusion. It backs early-stage, tech-enabled companies addressing critical needs across workforce, healthcare and community infrastructure. On June 11, 2025, Collab announced the close of its second fund with $75 million in committed capital.Jewel Burks Solomon, Co-Founder and Managing Partner at Collab Capital, explains how she draws on her experience as the first Head of Google Startups in the United States to help new companies get off the ground.See omnystudio.com/listener for privacy information.
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S&P 500 Hits Record on Vietnam Deal as Tech Climbs
Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.A rally in several big techs fueled gains in stocks, with the market extending its advance as President Donald Trump said he reached a trade deal with Vietnam. Treasuries fell as a selloff in UK bonds underscored deficit worries. The dollar was steady.Following earlier losses driven by weak jobs data, the S&P 500 rose to fresh all-time highs. Nike Inc. climbed alongside other apparel and footwear companies amid hopes the latest US trade deal will avert a potential supply-chain catastrophe. Tech megacaps led gains, with Tesla Inc. jumping 5% as a drop in sales was seen as better than feared. Marvell Technology Inc. slid about 2.5% on a report that Microsoft Corp. is scaling back its ambitions for AI chips to overcome delays.Longer-dated Treasuries underperformed, following moves in the UK, where concerns about Chancellor of the Exchequer Rachel Reeves’ future reignited questions over the nation’s fiscal position. Investors have raised similar concerns in the US, where the Senate passed Trump’s sweeping tax and spending bill.In the run-up to the jobs report, economists forecast employers added 110,000 jobs in June — the fewest in four months — amid a slight rise in the unemployment rate to 4.3%. The Bureau of Labor Statistics report is due Thursday, a day earlier than usual because of the Independence Day holiday.Data Wednesday showed employment at US companies fell for the first time in over two years. Despite signs of a downshift, Federal Reserve Chair Jerome Powell has repeated the labor market remains solid. Policymakers have refrained from lowering interest rates this year as they wait to see the impact of tariffs on inflation.Today's show features: Brent Meyer, Assistant Vice President and Economist in the Economic Survey Research Center at the Federal Reserve Bank of Atlanta and Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on a new report from the Atlanta Fed: “The Evolving Impact of Tariffs on CFOs' Outlook” Bloomberg Businessweek writer Deena Shanker on her story about SNAP cuts in the Federal tax and spending bill potentially hurting people in red and blue states alike Bloomberg Businessweek Editor and Writer Laura Bliss on her Bloomberg Big Take about landfills around the US reaching scorching temperatures and getting nearby residents sick Fred Thiel, Chairman and CEO of MARA on the regulatory outlook for Bitcoin and the company’s energy consumption and deployment strategy in terms of Bitcoin mining See omnystudio.com/listener for privacy information.
Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy. Watch us LIVE on YouTube: http://bit.ly/3vTiACF.
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