Major US Tariff Rates Take Effect; Trump-Putin Summit Scheduled

Major US Tariff Rates Take Effect; Trump-Putin Summit Scheduled

1) President Trump's tariffs take effect at their highest levels since World War 2. President Trump’s actions will push the average US tariff rate to 15.2%, according to Bloomberg Economics estimates, with some countries facing duties as high as 50%. The president has pledged that the tariffs will slash trade deficits and push companies to move manufacturing back to the US, but his critics say they could cause inflation to spiral out of control and cause shortages on store shelves.
2) The Kremlin said Presidents Vladimir Putin and Donald Trump will meet for summit talks within the next few days. President Trump said there was a "very good chance" he would meet with Putin and Ukrainian President Volodymyr Zelenskiy soon in another bid to broker peace between the two countries.
3) The president slaps significant levies on semiconductors — with a key exemption. President Trump declared plans to slap a 100% tariff on semiconductor imports, but promised to exempt companies that move production back to the US. Companies that demonstrate a commitment to building in the US, such as Apple, will be exempt from tariffs on chips, according to Trump.

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Episoder(1710)

Trump Signs Iran Deal;  Warsh Rocks Bond Market

Trump Signs Iran Deal; Warsh Rocks Bond Market

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump signed an interim deal to end the war with Iran and reopen the Strait of Hormuz, despite criticism from Repu...

18 Jun 22min

Iran Deal Gives $300 Billion Relief; First Fed Decision for Kevin Warsh

Iran Deal Gives $300 Billion Relief; First Fed Decision for Kevin Warsh

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Iran would be allowed to start oil exports immediately under an interim deal with the US and gain access to a $300 bil...

17 Jun 16min

US at Odds With Allies Over Hormuz, G7 Summit in France Begins

US at Odds With Allies Over Hormuz, G7 Summit in France Begins

Today's top stories, with context, in just 15 minutes.On today's podcast:1) US President Donald Trump keeps repeating that the Strait of Hormuz — through which one fifth of the world’s oil and liquefi...

16 Jun 15min

US, Iran Halt War; Global Stocks Surge on Deal

US, Iran Halt War; Global Stocks Surge on Deal

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US and Iran reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people...

15 Jun 15min

Daybreak Weekend: Fed Meeting, UK Election, BOJ Decision

Daybreak Weekend: Fed Meeting, UK Election, BOJ Decision

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the next FOMC decision, along with a focus on 3 ...

12 Jun 37min

Instant Reaction: SpaceX Jumps in First Trades Following Record $75 Billion IPO

Instant Reaction: SpaceX Jumps in First Trades Following Record $75 Billion IPO

Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s empire into one of the most valuab...

12 Jun 16min

SpaceX IPO Debuts; US-Iran Deal Nears

SpaceX IPO Debuts; US-Iran Deal Nears

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz, according to senior officials. A d...

12 Jun 23min

Knicks Historic Comeback; Trump Promises Iran Attacks if No Deal

Knicks Historic Comeback; Trump Promises Iran Attacks if No Deal

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The New York Knicks came from 29 points down to beat the San Antonio Spurs 107-106 in Game 4 of the NBA Finals, taking a 3-1...

11 Jun 16min

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