Trump Tariffs Kick In, Stocks Plunge as China Hit With 104% Tariffs | Daybreak: Europe 04/09/2025

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, President Trump’s tariffs kick in, sending trade levies to a 100-year high and stock markets to further lows. US Treasuries, seen as a haven asset, sell off as investors scramble to raise cash. China holds off on immediate action, despite facing 104% levies from today.

Today’s Guests: Patrick Armstrong, Plurimi Wealth Chief Investment Officer; Greg Hands, Former UK Trade Minister.

Chapters:
00:00:00 – Daybreak Europe
00:01:12 – Trump’s Sweeping Tariffs Take Effect
00:01:43 – Trump Says 104% Tariffs on China
00:03:04 – Trump Schedules Tariff Talks But Plans 104% Hit on China 
00:07:48 – Stocks, Bonds Hit as Tariffs Take Effect
00:11:34 – 30-Year Yields Rocket Higher
00:14:50 – EU Hit With US Tariffs of 20%
00:17:35 – Spain Pushes EU Pivot to China
00:18:48 – Santander Weighs Options for Polish Stake
00:21:06 – Summers: US Recession Likely
00:25:15 – Dalio Sees Once-a-Lifetime Collapse in Economic, Political Order
00:28:20 – Treasuries ‘Fire Sale’ Sends Long-Term Yields Soaring Worldwide
00:29:59 – Treasury Market in Turmoil
00:30:15 – European, US Stock Futures Slump
00:31:05 – Patrick Armstrong, Plurimi Wealth Chief Investment Officer
00:39:01 – Tariff Uncertainty Grips Markets
00:41:23 – Greg Hands, Former UK Trade Minister
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