President Trump’s so-called reciprocal tariffs kicked in after countries failed to secure a last-minute reprieve. He imposed levies on China as high as 104% along with import taxes on roughly 60 trading partners. China held off on immediate retaliation to the new tariffs after hitting back within minutes in February and March.
Meanwhile, treasuries extended their declines and European stocks plunged after Trump hiked trade tariffs to a 100-year high. The yield on 30-year Treasuries surged to the highest since November 2023 amid growing doubts about the haven status of US sovereign bonds. Europe’s stock benchmark fell more than 3%. Oil sank to a fresh four-year low.
Today’s guests: Grace Peters, JP Morgan Private Bank; Amrita Sen, Energy Aspects Founder & Director; Brett Bruen, Global Situation Room President & Keyu Jin, Professor at the London School of Economics
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – Market check
00:01:49 – The Pulse with Francine Lacqua
00:03:10 – Grace Peters, JP Morgan Private Bank
00:06:10 – Trump sweeping tariffs take effect
00:15:31 – Mining, bank and energy stocks lead Europe equity declines
00:19:22 – Amrita Sen, Energy Aspects Founder & Director
00:25:16 – Headlines
00:29:01 – Musk feuds with Navarro over tariffs
00:30:34 – Brett Bruen, Global Situation Room President
00:41:17 – EU hit with US tariffs of 20%
00:43:32 – Keyu Jin, London School of Economics Professor
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More on Bloomberg Television and Markets
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