Bloomberg Daybreak: Asia Edition

Asian stocks edged up and US equity-index futures reversed losses Friday after China said it's evaluating possible US trade talks, boosting optimism that tariff tensions will tamp down. China's Commerce Ministry said in a Friday statement that it had noted senior US officials repeatedly expressing their willingness to talk to Beijing about tariffs, and urged officials in Washington to show "sincerity" towards China. Meanwhile, Japanese shares gained 1.2% on optimistic comments from Japan's chief trade negotiator on their own talks. We get reaction to the day's market headlines from David Finnerty, Bloomberg FX and Rates Strategist in Singapore. Plus - the S&P 500 has gained for eight consecutive days, its longest run since August, amid increased optimism that trade tensions are waning since President Donald Trump announced century-high levies April 2nd. Investors will turn their attention to the US jobs report due Friday, the last piece of significant data this week, after disappointing earnings from Apple Inc. and Amazon Inc. We speak with Bill Adams, Senior Vice President and Chief Economist at Comerica Bank.See omnystudio.com/listener for privacy information.

US equity futures rallied Thursday on stronger-than-expected tech earnings and signs the Trump administration may be close to announcing the first round of trade deals to reduce planned tariffs. The advance for US futures came after the S&P 500 erased an intraday drop of more than 2% Wednesday to close 0.2% higher. Shares in Japan and Australia both edged lower Thursday. A number of markets are shut for holidays across Asia including Mainland China, Hong Kong, Singapore and India. Meantime, the outcome of Australia's tight federal election could be the next catalyst for local assets as a tariff standoff between the US and China continues to rattle markets. We preview Saturday's federal election with Bloomberg's Paul Allen in Sydney. Plus - contracts for the S&P 500 and Nasdaq 100 both gained at least 0.9%, helped by a post-market rally for Microsoft Corp. and Meta Platforms Inc. following their bullish corporate results. Microsoft posted better-than-expected sales, while Meta also exceeded analysts' sales forecasts, suggesting customer demand hasn't been rattled by tariffs. We discuss the day's Mag Seven earnings and the latest eco data out of the US with George Cipolloni, Portfolio Manager at Penn Mutual Asset Management.See omnystudio.com/listener for privacy information.

As the S&P 500 closed higher for five consecutive sessions, the American equity benchmark posted its longest winning streak since November. Monday marked the fifth time in the past month the index fully wiped out an intraday gain or drop of 1% or more. The number of reversals already matches the total seen in the entire year of 2024. After the US close, President Donald Trump renewed criticism of Federal Reserve Chairman Jerome Powell as he championed his economic policies and tariff regime during a Tuesday event to mark his 100th day in office. We break down Trump's remarks with Joe Mathieu, Host of Bloomberg's Balance of Power. As uncertainty around US tariffs looms over global markets, investors in Asia are looking ahead to key economic data from China to get a sense of the macro environment. We speak with Mary Nicola, Bloomberg MLIV Strategist in Singapore. Plus - four of the so-called Magnificent Seven - Microsoft Corp., Apple Inc., Meta Platforms Inc. and Amazon.com Inc. - are due to report earnings this week. Analysts expect the group — which also includes Google-parent Alphabet, Tesla Inc. and Nvidia Corp. — to deliver an average of 15% profit growth in 2025, a forecast that's barely budged since the start of March despite the flareup in trade tensions. We preview the numbers with David Nicholson, Chief Research Officer at The Futurum Group.See omnystudio.com/listener for privacy information.

The Asian Development Bank has lowered its growth forecast for Asia further after the region found itself the hardest hit by tariffs from the US. The multilateral institution said those tariffs will shave growth in the region by a third of a percentage point in 2025 and a full percentage point in 2026. In its annual outlook report released Wednesday - numbers for which were calculated before the April 2 tariff announcements by President Donald Trump - ADB forecast growth in emerging Asia to moderate to 4.9% in 2025 and 4.7% in 2026. ADB President Masato Kanda speaks exclusively with Bloomberg's Shery Ahn in Tokyo. Plus - a late-day wave of dip buying in the US erased losses in stocks, with Wall Street investors awaiting a slew of corporate earnings and economic data for insights on the impacts of President Donald Trump's tariff war. As the S&P 500 closed higher for five consecutive sessions, the American equity benchmark posted its longest winning streak since November. Monday marked the fifth time in the past month the index fully wiped out an intraday gain or drop of 1% or more. The number of reversals already matches the total seen in the entire year of 2024. We take a look at the US economy with Clayton Triick, Head of Portfolio Management at Angel Oak Capital Advisors.See omnystudio.com/listener for privacy information.

Asian shares gained in a cautious start to the week as investors await progress in US trade negotiations with the region and signs of further stimulus from China. The dollar was steady against major peers and US equity-index futures edged lower in early trading Monday. Contracts in Japan signal a gain when cash markets reopen after the yen weakened on Friday, while those in Australia and Hong Kong were little changed. We talk FX and currencies with Peter McGuire, CEO at Trading.com Australia. Plus - US stocks notched their longest advance in three months on Friday, while bonds and the dollar climbed amid increasing expectations the Federal Reserve could ease policy again in the first half of this year as the US economy softens. Worries about the economic fallout from tariffs drove US consumer sentiment to one of its lowest readings on record while long-term inflation expectations climbed to the highest since 1991. Investors will focus on key economic data this week - including the US jobs report and gross domestic product data - to see if the the recent steadiness in markets will continue as tariff tensions tamp down. We preview the week's eco data with Lawrence Werther, Chief US Economist at Daiwa Capital Markets.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the April jobs report and big tech earnings. In the UK – a look ahead to local elections. In Asia – a look ahead to China PMI data. See omnystudio.com/listener for privacy information.

Check out the new Stock Movers Podcast from Bloomberg. Subscribe for five-minute episodes on today's winners and losers in the stock market.Listen on Apple: https://apple.co/4kJ43ONListen on Spotify: https://tinyurl.com/mr385jv6Listen on other platforms: https://link.podtrac.com/h0zn7xirSee omnystudio.com/listener for privacy information.

President Donald Trump said Thursday that his administration was talking with China on trade, after Beijing denied the existence of negotiations on a deal and demanded the US revoke all unilateral tariffs. The Chinese Commerce Ministry dismissed speculation that progress has been made in bilateral communications, saying "any reports on development in talks are groundless," while urging the US to "show sincerity" if it wants to make a deal. We discuss the latest on the trade war with David Chao, Global Market Strategist, APAC at Invesco. Plus - Fed Governor Christopher Waller said he'd support rate cuts in the event aggressive tariff levels hurt the jobs market, speaking in an interview on Bloomberg Television. Cleveland Fed President Beth Hammack says the central bank could move on rates as early as June if it has clear evidence of the economy's direction. We dissect the latest Fed speak with Steven Schoenfeld, CEO at MarketVector Indexes.See omnystudio.com/listener for privacy information.

Asian stocks traded in a tight range Thursday as a global relief rally started to give up momentum after mixed signals from the Trump administration on its plans for China tariffs. A regional gauge of stocks swung between small gains and losses as market enthusiasm got curbed after Treasury Secretary Scott Bessent cast doubt on a timely resolution to the US-China trade war. That trimmed the S&P 500's gain Wednesday to 1.7%. The yen reversed two days of losses and the dollar weakened in early Asian trade. Gold jumped 1.4% in increased demand for the traditional safe-haven asset. Global equities and long-dated Treasuries rose on Wednesday on signs US President Donald Trump is rethinking the most-aggressive elements of his stances on trade and the Federal Reserve. We get reaction to the day's headlines from Mark Cranfield, Bloomberg MLIV Strategist in Singapore. Plus - SK Hynix reported a 158% jump in March-quarter operating income, driven in part by stockpiling ahead of US tariffs, and maintained its forecast for a doubling in demand for high-bandwidth memory. The company warned of increased volatility in the second half of 2025 due to uncertainty surrounding US tariffs, despite resilient demand for AI memory chips from big tech providers. We hear from SK Kim, Executive Director at Daiwa Securities.See omnystudio.com/listener for privacy information.

Stocks jumped and the dollar rose after President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell while optimism grew that trade tensions may be easing. Trump's comments on the Fed chief late Tuesday in Washington walk back opinions expressed earlier in the week that sparked concerns about the US central bank's independence. Progress in various trade talks also helped improve market sentiment after investors had broadly retreated from US assets this month following the announcement of century-high levies. We break down the themes driving volatility with Ecaterina Bigos, CIO for Asia ex-Japan Core Investments at AXA Investment Managers. Plus - US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world's two largest economies will have to find ways to de-escalate. That de-escalation will come in the very near future, Bessent said during an event hosted by JPMorgan Chase & Co. in Washington, which wasn't open to the public or media. He characterized the current situation as essentially a trade embargo, according to people who attended the session. We talk tariffs and trade policy with Tom Bruce, Macro Investment Strategist at Tanglewood Total Wealth Management.See omnystudio.com/listener for privacy information.

Asian stocks edged down at the open after US President Donald Trump's criticism of Federal Reserve Chair Jerome Powell raised concerns about the central bank's independence and sparked a selloff in US assets. We get reaction from JoAnne Bianco, Partner & Senior Investment Strategist at BondBloxx Investment Management. Plus - late Monday, Japan's Prime Minister Shigeru Ishiba said Japan won't concede to all US demands in trade talks, citing the need to protect national interests. Those comments come as a second round of trade talks between Tokyo and Washington are expected in the coming days. Suntory Holdings Chairman and CEO Takeshi Niinami says the current situation regarding US tariffs is "really concerning." Niinami, who also serves as Senior Economic Advisor to Prime Minister Ishiba, speaks with Bloomberg's Shery Ahn in Tokyo.See omnystudio.com/listener for privacy information.

Officials from Japan and South Korea are slated to begin trade negotiations with the United States this week. Early Monday, China's Ministry of Commerce said it firmly opposes any party reaching a deal at the expense of China’s interests. Those comments came as China claims Washington is using tariffs to coerce other countries to restrict economic and trade exchanges with Beijing. We get more perspective from Naomi Fink, Chief Global Strategist at Nikko Asset Management. She speaks with Bloomberg's Shery Ahn and Paul Allen. Plus - Chicago Fed President Austan Goolsbee warned against efforts to curtail the central bank’s independence, days after President Donald Trump expressed his displeasure with Fed Chair Jerome Powell. Last week, Trump posted on Truth Social that Powell’s “termination cannot come fast enough!” He hasn’t clarified whether that means he intends to find a way to fire the Fed chief, or is simply eager for Powell’s term to end as scheduled in May 2026. We get reaction from Alicia Garcia Herrero, Chief APAC Economist at Natixis.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to home sales data and Tesla earnings. In the UK – a look ahead to how companies across Europe and beyond are preparing to share their latest financial performances with the market. In Asia – a look ahead to how some Chinese companies are looking to skirt U.S President Donald Trump’s tariffs. See omnystudio.com/listener for privacy information.

Japanese stocks rose in the early Friday session as expectations for progress in trade negotiations between the US and the European Union supported automotive-related sectors. Most Asian markets are shut for the Good Friday holiday. Data released Friday showed Japan's consumer inflation advanced last month, supporting the central bank's stance on a gradual rate hike path before US tariff measures clouded the economic outlook. We speak with Mary Nicola, Bloomberg MLIV Strategist in Singapore. Stateside - a rebound in US stocks evaporated this week after Chair Jerome Powell pushed back on the idea of the Federal Reserve stepping in to bolster markets, rankling President Donald Trump who touted a smattering of deals Thursday. We cap off the trading week with insights from James Demmert, Founder and Chief Investment Officer at Main Street Research.See omnystudio.com/listener for privacy information.

On this special holiday edition of Bloomberg Daybreak US edition, host John Tucker discusses President Trump recent criticism of Fed Chair Powell with Michael McKee and Stuart Paul. He also talks about ETF inflows with Eric Balchunas and looks at the future of antitrust litigation with Jennifer Rie. See omnystudio.com/listener for privacy information.

On today's episode, we take a look at the impact of how US tariffs are reverberating through the global automotive industry. Ford Motor Company is preparing to raise prices on cars rolling off assembly lines starting next month if President Donald Trump doesn't deliver on the tariff relief he's hinted at for automakers, while Chinese EV maker Xpeng is ramping up its global expansion -- despite the intensifying trade war between Washington and Beijing, and the European Union's punitive tariffs against Chinese cars. We speak with Dr. Stephen Dyer, Head of the Asia Automotive Practice at AlixPartners. Plus - Warnings from Chair Jerome Powell that trade tensions risk undermining the Federal Reserve's employment and inflation goals whipped up fresh volatility on Wall Street Wednesday, with stocks resuming sharp declines while haven assets like Treasuries and gold surged. We unpack the day's market moves with Shams Afzal, Managing Director at the Carnegie Investment Counsel. See omnystudio.com/listener for privacy information.

Asian stocks edged lower and US equity-index futures dropped at the open as trade conflicts showed no signs of abating. Nvidia said the US put new restrictions on some chip exports to China. Contracts for the Nasdaq 100 fell more than 1.5% and S&P 500 futures retreated 1% after Nvidia slumped in after-hours trading. That’s even as results from Wall Street’s financial heavyweights on Tuesday underscored an equity-trading boon and still-healthy consumers and businesses. We discuss the day's market headlines with Ken Stern, President and CEO at Lido Advisors. Plus - TikTok users in the US are being inundated with videos from Chinese influencers encouraging American buyers to overcome punitive Trump tariffs by buying direct from the “world’s factory” — China. Mostly filmed at Chinese factories purporting to supply top US brands from Lululemon Athletica to Nike, the influencers aim to “expose” how the vast majority of consumer goods are made in the world’s second-largest economy. Colum Murphy, China EcoGov Reporter for Bloomberg News, joins us from Beijing to break down the story.See omnystudio.com/listener for privacy information.

Speaking exclusively to Bloomberg, Treasury Secretary Scott Bessent played down the recent selloff in the bond market, rejecting speculation that foreign nations were dumping their holdings of US Treasuries. In her latest column, Bloomberg Opinion's Shuli Ren writes China is done retaliating against President Donald Trump's exorbitant tariffs, calling the administration's actions a "joke" that it no longer considers worthy of matching. The question now is whether President Xi Jinping will find a more potent weapon to strike back - such as its $760 billion worth of Treasury securities. We get her reaction to Bessent's comments. Plus - a degree of calm returned to Wall Street, with stocks and bonds notching a twin rally after a tumultuous week in the grip of President Trump's disruptive trade war. We get reaction to the day's market action from Ross Mayfield, Investment Strategist at Baird.See omnystudio.com/listener for privacy information.

On today's episode - US President Donald Trump pledged he will still apply tariffs to phones, computers and popular consumer electronics, downplaying a weekend exemption as a procedural step in his overall push to remake American trade. We preview the trading week ahead with Chuck Cumello, President and CEO at Essex Financial Services. Asian stocks advanced at the open after Washington issued the pause on import duties on a range of consumer electronics, lifting sentiment after a volatile week for markets. We get more perspective on the escalating US-China trade war and what it means for Asian markets with Mark Matthews, Head of Asia Research at Julius Baer. He speaks with Bloomberg’s Shery Ahn and Haidi Stroud-Watts.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S Retail sales and earnings from Netflix. In the UK – a look ahead to next week’s ECB meeting. In Asia – a look ahead to earnings from TSMC. See omnystudio.com/listener for privacy information.

A gauge of Asian stocks is on track for its third consecutive week of decline as market relief turned to angst after the White House clarified US tariffs on China rose to 145%. US Treasuries resumed a selloff from earlier in the week. Equity-index futures for the S&P 500 retreated 1%. In a sign investors are seeking havens and non-US alternatives, the euro soared as much as 1.6%, the yen strengthened and gold set a new high. We check in with Mark Cranfield, Bloomberg MLIV Strategist in Singapore. Less than 24 hours after President Donald Trump backtracked on his broader, once-in-a-century trade war to prevent a meltdown in financial markets, frantic selloffs hit US stocks, bonds and the dollar Thursday as fears of a worldwide recession engulfed Wall Street. We get some market perspective from Patrick Kennedy, Founding Partner at AllSource Investment Management.See omnystudio.com/listener for privacy information.

Asian stocks posted their biggest jump in more than two years as global financial markets rebounded after US President Donald Trump paused most of his sweeping reciprocal tariffs. Treasuries rallied after a tumultuous session. Trump announced a 90-day pause on the new tariffs that hit dozens of trading partners Wednesday. However, he raised duties on China to 125%. That came after the Asian nation retaliated and said it will raise levies on US goods to 84%. We get some perspective from Chi Lo, Senior Market Strategist at BNP Paribas Asset Management. Stateside - Trump’s pledge to pause those tariffs ignited the biggest burst of buying Wall Street has seen since 2008. After narrowly avoiding a bear market, the S&P 500 staged a historic bounce from a selloff that wiped out trillions from global share prices amid the specter of a full-blown trade war that fueled fears of a US recession. The equity benchmark soared 9.5%, the most since the global financial crisis, while the Nasdaq 100 surged 12% as euphoria gripped markets after four days of bruising, high-volume trading. Nearly every stock in major gauges rose. We break down the day's price action with Rebecca Walser, President at Walser Wealth Management.See omnystudio.com/listener for privacy information.

Stocks sank and Treasuries sold off in Asia Wednesday morning, as financial markets were hit by fresh turmoil after US President Donald Trump ratcheted up the pressure on China and pledged to push ahead with sweeping global tariffs. Bloomberg Opinion's Karishma Vaswani says Washington's tariffs are driving Asian nations to strengthen cooperation with each other and consider drifting back towards China, which could erode American credibility and strategic edge in the Indo-Pacific. She joins the program to discuss her latest column. Plus - The S&P 500 fell 1.6% as trade threats between the US and China knocked down stocks, leaving it on the brink of a bear market. Former Treasury Secretary Lawrence Summers warned that the US is now likely headed toward a recession, with potentially 2 million Americans put out of work, thanks to those tariff increases. We get reaction from Stuart Thomas, Founding Principal at Precidian Investments.See omnystudio.com/listener for privacy information.

Asian shares bounced back after a record selloff, as Japan lead gains on expectations that it will get priority in trade talks with US President Donald Trump’s administration. China slammed the US for threatening to raise its tariffs and pledged to retaliate if Washington follows through, raising the stakes of the trade war between the world’s two largest economies. We get some market perspective from Stephanie Leung, Chief Investment Officer at StashAway. On Monday, Trump threatened to slap additional 50% import taxes on China, while readying negotiations with Japan and Israel, leaving markets struggling to grasp his intentions for his sweeping tariff plans. Fears of an economic downturn led to sharp swings in US markets with the S&P 500 index nearing a bear market before finishing slightly down as investors absorbed further tariff news. We unpack the stateside reaction with Ahmed Riesgo, Chief Investment Officer at Insigneo.See omnystudio.com/listener for privacy information.

A flight from global equities accelerated Monday and investors piled into haven assets as the fallout from US President Donald Trump’s tariffs deepened after China slapped retaliatory measures. From Sydney to Tokyo, Asian stocks plunged at the open along with commodities such as oil and copper. Trading of Nikkei 225 and Topix futures was suspended earlier as a circuit breaker was triggered due to a glut of sell orders, according to a notice on Japan Exchange Group's website. Yields on two-year Treasuries, the most policy sensitive bonds, dropped as much as 22 basis points while the Japanese yen and Swiss franc surged. Chinese stocks are bracing for a grim day when trading resumes after an extended weekend, during which Beijing announced 34% tariffs on all imports from the US. A gauge of US-listed Chinese shares fell 8.9% on Friday. For perspective on the week ahead for markets, we speak with Helen Zhu, Chief Investment Officer and Managing Director at NF Trinity. The tariff moves underscore the heightened concerns across financial markets as Trump attempts to reshape the global trade in Washington’s favor, increasing the risk of a recession. Federal Reserve Chair Jerome Powell made clear that the central bank won’t rush to react to the tariffs, which are likely to have a significant effect on the US economy, including slower growth and higher inflation. We explore what the global selloff could mean for monetary policy with Adam Coons, Co-Chief Investment Officer at Winthrop Capital Management.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – an eco look ahead post Trump-tariffs, and also a discussion on how the retail sector may be impacted. In the UK – a look at the BOE’s quarterly report on the stability of the UK's financial system. In Asia – a look at President Trump’s additional 34% tariff on Chinese goods and how that may impact U.S, China relations. Also, a look at how tariffs will impact U.S, Australia relations. See omnystudio.com/listener for privacy information.

Markets wrap up a turbulent week as Asian shares fall to the lowest level in two months, extending a global selloff in stocks after President Donald Trump’s latest tariff measures drove investors into haven assets. Stateside, the S&P 500 tumbled more than 4.8% for its worst single-day drop since 2020. We speak with Garfield Reynolds, Bloomberg MLIV Asia team lead in Sydney. Plus - Steve Brice, Chief Investment Officer at Standard Chartered Wealth Solutions, shares how he’s navigating the recent market volatility. He speaks with Bloomberg’s Haidi Stroud-Watts and Paul Allen.See omnystudio.com/listener for privacy information.

This is a special edition of the Bloomberg Daybreak: US Edition podcast. Subscribe to the show: on Apple: http://bit.ly/3DWYoAN on Spotify: http://bit.ly/3jGRYiB Anywhere: http://bit.ly/3J1bct9On today's episode: President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam.“For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” Trump said during an event in the White House Rose Garden to unveil the so-called reciprocal tariffs. “Now it’s our turn to prosper.”The move marks a dramatic escalation in Trump’s trade war, one that risks triggering retaliation from other countries and upends calculations for businesses and consumers at home. China and the EU, America’s largest trading partner, both said they were preparing to take countermeasures in response.The US president has embraced tariffs as a tool to assert US power, revive manufacturing at home and exact geopolitical concessions — counter to the decades-old consensus that lower trade barriers help to foster ties among nations and prevent conflicts. Economists say the near-term result of his measures will likely be higher US prices and slower growth — or perhaps even a recession.Global financial markets were hit by a sweeping selloff after Trump’s announcement, with US equity futures slumping as much as 4%.Gold hit an all-time high and the traditional haven Japanese yen soared, while China maintained its daily support of the yuan. Ten-year Treasury yields fell toward the closely-watched 4% level, their lowest since October.Read More: Fear Grips Markets as Trump Tariffs Raise Risks to Global GrowthLess than three months after returning to the White House, Trump has already erected trade barriers that are bigger by some measures than those imposed in the notoriously protectionist 1930s. Bloomberg Economics calculates that the effective tax rate the US now charges on more than $3 trillion of imported goods may climb to around 23% — higher than any point in more than a century.A statement published Wednesday by the United States Trade Representative explained the Trump administration calculated its raft of new tariffs primarily based on existing trade balances. Countries running a trade surplus with the US faced a flat 10% rate regardless, as did nations where trade was roughly even.There’s a small difference in the tariff rates first announced by Trump and more than a dozen of those listed in the annex that accompanied the White House executive order. For countries like South Korea, Myanmar, Pakistan and India, the rates in the annex are about 1 percentage point higher than the initial announcement.The 10% baseline charge on everyone takes effect after midnight Saturday. The higher duties on targeted countries — which replace, rather than add on top of the 10% rate — are due to kick in on April 9, the White House said.Read More: List of Reciprocal Tariffs by CountryFor now, the new measures don’t include Canada and Mexico, which are embroiled in a separate on-and-off tariff dispute with the US. They also won’t apply to some products that are subject to separate duties tied to so-called Sec. 232 investigations such as autos, semiconductors and lumber.The reciprocal tariffs were “much worse than we feared,” said Mary Lovely, a senior fellow at the Peterson Institute for International Economics. There’ll be “huge implications for rerouting of trade,” she said.The president, who’s sought to frame his trade plans as a boost for his blue-collar voters, was joined in the Rose Garden by union members and workers from various industries — including a retired autoworker who spoke on stage. Later, Trump brandished large boards during his 48-minute address to display each nation’s new rate.See omnystudio.com/listener for privacy information.

President Donald Trump imposed the steepest American tariffs in a century, stepping up his campaign to reshape the global economy and unnerving investors who see a trade war as a risk to US growth. Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam. We get reaction from Bloomberg's Shawn Donnan, Senior Economics Writer for Bloomberg News in Washington. Treasury Secretary Scott Bessent is urging US trading partners against taking retaliatory steps against Trump’s new set of tariffs. He spoke with Bloomberg's Annmarie Hordern following the tariff announcement. Plus - China vowed to retaliate after being hit with Donald Trump’s biggest tariffs yet, which threaten to decimate trade between the world’s largest economies. The Chinese Ministry of Commerce condemned the US levies and pledged to hit back with unspecified measures in a statement Thursday, adding that the sweeping tariffs threatened the stability of global supply chains. We speak with Jenni Marsh, China EcoGov Team Leader for Bloomberg News.See omnystudio.com/listener for privacy information.

President Donald Trump’s deliberations over his plans to impose reciprocal tariffs are coming down to the wire, with his team said to be still finalizing the size and scope of the new levies he is slated to unveil on Wednesday afternoon. Asian stocks edged lower as traders grapple with how to position themselves ahead of the planned 4pm Eastern time White House announcement. We speak with David Finnerty, Bloomberg FX and Rates Strategist in Singapore. Plus - how those new tariffs may stand to affect the risk landscape in emerging markets. We get some perspective from Jeff Grills, Head of EM Debt at Aegon Asset Management.See omnystudio.com/listener for privacy information.

On today's episode, a discussion on how the latest bouts of market volatility ahead of new reciprocal tariffs from the Trump White House may be giving investors pause. We speak with Brad Bernstein, Managing Director at UBS Private Wealth Management.Plus - how the rollout of those tariffs later this week may drive emerging-market volatility, and why Asian markets may be at risk given the large trade imbalance with the United States. We hear from Aoifinn Devitt, Chief Global Market Strategist at Moneta Group Investment Advisors.See omnystudio.com/listener for privacy information.

Apple CEO Tim Cook visited China last week for his first visit of the year, amid a burgeoning trade war with the US. He met with officials in Beijing, stopped by a local Apple store and visited students in Hangzhou, among other events. The trip could serve as a case study in how multi-national corporations will navigate business across the Pacific. We explore how Apple's deep business ties in China may be impacted by upcoming reciprocal tariffs with Catherine Thorbecke, Bloomberg Opinion Columnist in Tokyo. Plus - we look at how this week's tariffs and a number of other key economic events may resonate through global markets. We're joined by James Abate, Managing Director & Chief Investment Officer at Centre Asset Management.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.• In the US – a preview of US March jobs and a look at the potential impact of auto tariffs. • In the UK – an assessment of NATO's position amid growing global tensions.• In Asia – a preview of the Reserve Bank of Australia's next rate decision. See omnystudio.com/listener for privacy information.

On today's episode, we explore how concerns about the upcoming ‘reciprocal tariffs’ from the US and a widening trade war are weighing on investors’ appetite for risk. Willem Sels, Global CIO at HSBC Global Private Banking and Wealth, joins us from Hong Kong fresh off of HSBC's Global Investment Summit. Plus - a discussion on how trade risks are weighing on the Federal Reserve's fight against inflation. We speak with Gene Goldman, Chief Investment Officer at Cetera Financial Group.See omnystudio.com/listener for privacy information.

On today's episode, Asian equities declined at the open Thursday after President Donald Trump’s latest trade salvo scuppered demand for riskier investments. Shares of Toyota Motor Corp. and Hyundai Motor Co. were among automakers slumping in Asia after Trump unveiled a new 25% tariff on all automobiles imported into the United States. We speak with Mary Nicola, Bloomberg MLIV Strategist in Singapore.Plus - a look at how this expanding global trade war is being digested by Wall Street. Robert Schein, Chief Investment Officer at Blanke Schein Wealth Management, joins the program.See omnystudio.com/listener for privacy information.

On today's episode, we dissect the forces driving volatility in Chinese tech stocks. Despite the recent pullback in Chinese equities, some Wall Street investors remain bullish. Morgan Stanley strategists raised their 2025 year-end index targets for Chinese stock indexes, after seeing signs of fourth-quarter earnings beats. Similarly, strategists at Goldman Sachs expect more fundamental upside to the recent rally as more positive earnings revisions should be coming. We speak with Shuli Ren of Bloomberg Opinion for a closer look. Plus - Asian stocks posted modest gains on Wednesday as investors searched for a clear direction amid weaker US consumer confidence, tariff uncertainty and a late rally in US equities. We get some insights on the American economy from Bill Campbell, Global Bond Portfolio Manager at DoubleLine.See omnystudio.com/listener for privacy information.

On today's episode, Federal Reserve Bank of Atlanta President Raphael Bostic says he now sees just one interest-rate cut as likely this year, rather than two, with tariff hikes impeding progress on disinflation. We unpack the reaction from Asian markets with Rahul Chadha, Chief Investment Officer at Shikhara Capital. He speaks with Bloomberg's Paul Allen in Sydney. Plus - Asian stocks rose after US equities had one of their best sessions of the year, fueled by signs that President Donald Trump's trade sanctions will be narrower than feared. We discuss the latest tariff headlines with Tim Pagliara, Chief Investment Officer at CapWealth.See omnystudio.com/listener for privacy information.

Stock Movers is a new, five-minute podcast on today's winners and losers in the stock market. Listen for analysis on the companies making news in markets. Listen on Apple: https://podcasts.apple.com/us/podcast/stock-movers/id1803209456 Listen on Spotify: https://open.spotify.com/show/1LhpIazkwQ9bSkxHsjknI8?si=1233c9c58f1e4e16&nd=1&dlsi=b25af9cebbca4895 Listen Anywhere: https://link.podtrac.com/h0zn7xirSee omnystudio.com/listener for privacy information.

On today's episode, we bring you a conversation with Australian Treasurer, Jim Chalmers. He warns that the new US administration's policies will have a "seismic" impact on the global economy. Chalmers speaks with Bloomberg's Ben Westcott ahead of the country's national budget on Tuesday. Plus - a look at how volatility is shaping the trading week ahead for global markets. Marc Nachmann, Global Head of Asset & Wealth Management at Goldman Sachs, speaks to Bloomberg's Haidi Stroud-Watts and Paul Allen in Sydney.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a preview of U.S CPI and PCE data, along with a look at the impact of tariffs on housing. In the UK – a preview of UK Chancellor Rachel Reeves’ spring statement. In Asia – a preview of Chinese EV Maker BYD’s earnings. See omnystudio.com/listener for privacy information.

On today's episode, Asia markets are cautious after equity market weakness in the US due to uncertainty around President Donald Trump's next trade war salvo. We speak to Olivier d'Assier, Head of Investment Decision Research, APAC at SimCorp.Plus, we take you to the world of digital currencies. Earlier today, President Trump reiterated support for stablecoin legislation, saying it will help expand the dollar's dominance. We speak to Peter Chung, Head of Research at Presto ResearchSee omnystudio.com/listener for privacy information.

On today's episode, we explore the fallout of the Federal Reserve and the Bank of Japan decisions. The Fed held rates steady today. We speak to Mark Cranfield, Bloomberg MLIV Strategist. Plus- The Federal Reserve Chair Jerome Powell cited the potential for the impact of tariffs on inflation to be “transitory.” The jump in stocks, the biggest for any Fed day since July, follows a bruising four-week stretch in which the S&P 500 slid into a correction. We speak to Jamie Cox, Managing Partner at Harris Financial Group.See omnystudio.com/listener for privacy information.