EU to Accept 10% US Tariff, Starmer’s Crunch Vote, US Treasury Hacks Exclusive
Bloomberg Daybreak: Europe Edition1 Jul 2025

EU to Accept 10% US Tariff, Starmer’s Crunch Vote, US Treasury Hacks Exclusive

Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:


(1) The European Union is willing to accept a trade arrangement with the US that includes a 10% universal tariff on many of the bloc’s exports, but wants the US to commit to lower rates on key sectors such as pharmaceuticals, alcohol, semiconductors and commercial aircraft.

(2) President Donald Trump threatened to proceed with ramping up tariffs on Japan, while his top economic adviser said the White House aims to finalize deals with partners after the July 4 holiday.

(3) UK Prime Minister Keir Starmer is girding for what could be the most consequential vote of his premiership, with Labour rebels warning that the government’s welfare overhaul still risks defeat despite huge concessions to push it through parliament.

(4) Apple is considering using artificial intelligence technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining its own in-house models in a potentially blockbuster move aimed at turning around its flailing AI effort.

(5) Cybersecurity woes are plaguing the US Treasury Department, deepening a rift between the agency responsible for protecting the integrity of the financial system and the banks it regulates.

(6) Senate Republican leaders continue to scrounge for votes to pass Donald Trump’s $3.3 trillion tax and spending bill as lingering intraparty fights threaten to upend the legislative centerpiece of the president’s domestic agenda.

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