US-UK Trade Deal Expected Today As Trump Teases ‘Major’ Agreement

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump is expected to announce a trade agreement with the United Kingdom at a news conference Thursday morning in Washington, according to people familiar with the matter. (2) Details of An agreement are not immediately clear, but it is likely to be a framework deal that will serve as a starting point for further negotiations. The UK and US have been in intensive discussions about an economic agreement that would reduce the impact of some tariffs, with a team of British officials in Washington to negotiate terms this week, people familiar with the matter said. (3) Chancellor of the Exchequer Rachel Reeves is on track to miss both her fiscal rules by tens of billions of pounds in the UK’s autumn budget, according to a prominent economic think tank, leaving her no option but to raise taxes or cut spending. (4) The Bank of England is expected to cut interest rates by a quarter percentage point Thursday and may signal that another move is likely in June, potentially putting the central bank on course for its first back-to-back reductions since 2009 as the US trade war darkens the outlook for growth.(5) Federal Reserve Chair Jerome Powell said officials are not in a hurry to adjust interest rates, adding tariffs could lead to higher inflation and unemployment. “If the large increases in tariffs that have been announced are sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth and an increase in unemployment,” Powell said Wednesday at the conclusion of a two-day meeting in Washington.  (6) The Trump administration plans to rescind Biden-era AI chip curbs as part of a broader effort to revise semiconductor trade restrictions that have drawn strong opposition from major tech companies and foreign governments, according to people familiar with the matter. Podcast conversation: Bill Ackman Bought a $4.9 Million Watch Collectors Obsess OverSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) India conducted targeted military strikes against Pakistan, which said it retaliated in expected tit-for-tat blows after a militant attack last month in Kashmir that killed 26 people. (2) India and the UK agreed to a landmark trade deal slashing tariffs on cosmetics, vehicles, alcoholic beverages and other goods, as both sides look for wins to offset the disruption of President Donald Trump’s protectionist policies.  (3) The UK and US are in intensive discussions about an economic agreement that would reduce the impact of some tariffs, with a team of British officials in Washington to negotiate terms this week, people familiar with the matter said. (4) China reduced its policy rate and lowered the amount of cash lenders must keep in reserve, as Beijing ramps up efforts to help an economy caught in a second trade war with the US. (5) Friedrich Merz sought to move past an embarrassing stumble as he took power in Germany, vowing to reboot the economy and revive the country’s military.    Podcast conversation: Macron Wants a Netflix in Paris, Not Just Emily: Lionel LaurentSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Friedrich Merz has vowed to hit the ground running when he takes over as German chancellor on Tuesday, pledging swift action to galvanize Europe’s biggest economy, restore Berlin’s leadership role on the global stage and address voter concerns about irregular migration. (2) China’s services activity deteriorated more than expected in April, a private survey showed, the latest setback for an economy already under pressure from US tariffs. (3) Ford suspended its full-year financial guidance and said President Donald Trump’s auto tariffs will take a toll on profit, joining rivals stung by volatile global trade policies.  (4) The Trump administration is declaring Harvard University ineligible for new research grants from the federal government in the latest escalation between the White House and the Ivy League school. (5) The UK’s tax overhaul for wealthy foreigners will start costing more than it raises if one in four of those affected leaves the country, according to the Centre for Economics and Business Research.See omnystudio.com/listener for privacy information.

Financial analysts were far more prepared than most CEOs for the US tariffs announced on April 2. Analysts, who serve as a proxy for the financial markets, anticipated tariffs would soon be an enormous issue, mentioning the topic 62% more often than did CEOs during Q1 earnings calls. That’s the conclusion of the second edition of the CEO Radar—a tool to help CEOs determine which issues truly deserve their time and attention. It unpacks the leading topics discussed on almost 4,900 earnings calls worldwide in Q1 2025, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by BCG Global Chair Rich Lesser and Michael Brigl, Head of BCG’s Central European practice, to discuss how tariffs are likely to have a long-term effect on corporate operations.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 next week’s Fed decision and earnings from Walt Disney. In the UK – a look ahead to the challenges facing Germany’s next Chancellor. In Asia – a look ahead to a look ahead to economic data in China. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Nigel Farage’s Reform UK has won a key parliamentary by-election following a recount, in a blow to Prime Minister Keir Starmer, fueling concerns in his Labour Party that he’s failing to slow the rise of the populist right.(2) China said it is assessing the possibility of trade talks with the US, the first sign since Donald Trump hiked tariffs last month that negotiations could begin between the two sides.(3) Japan aims to achieve a trade agreement with the US in June, with the high-stakes bilateral discussions expected to gain momentum in mid-May, Tokyo’s chief negotiator said after concluding the latest round of talks in Washington.(4) Apple’s much-awaited quarterly earnings report failed to soothe investor concerns about its biggest challenges, including escalating tariff costs and a slowdown in China.(5) Amazon said it’s bracing for a tougher business climate in the coming months, echoing concerns from a range of companies that tariffs and related economic turmoil could crimp consumer spending.(6) President Donald Trump said he will nominate Michael Waltz, his current national security adviser, to be the next US ambassador to the UN, sidelining a top aide who drew a wave of criticism for inadvertently adding a journalist to a Signal group chat where officials discussed sensitive attack plans.Podcast conversation:Not to attack Gen Z… but…this about Fake zoom meetings is brilliant Gen Z’s Social Tank Is Running on Empty: Opinion WrapSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The US and Ukraine reached a deal over access to the country’s natural resources, offering a measure of assurance to officials in Kyiv who had feared that President Donald Trump would pull back his support in peace talks with Russia. (2)  Meta quelled Wall Street concerns about the impact of the Trump administration’s trade war on advertising sales, reporting first-quarter revenue that beat expectations and forecasting additional spending.  (3) President Donald Trump acknowledged that his sweeping tariff program had risked imperiling him politically, but said he would not rush deals to appease nervous investors during a town hall on Wednesday. (4) The European Union is planning to share a paper with the US next week that will set out a package of proposals to kick-start trade negotiations with the Trump administration. (5) Microsoft shares jumped after the company reported stronger-than-expected quarterly sales and profit growth, suggesting customer demand for cloud services has held steady despite a wave of tariffs and economic turbulence. (6) The Swedish furniture chain IKEA operates in more than 60 countries worldwide, including a significant presence in the United States.The CEO of the Ingka group - which operates most of IKEA's stores - has been speaking to Bloomberg about how they're adapting to the tariff uncertainty. Podcast conversation: What Meta Really Means About ‘Worse’ European Service: Dave LeeSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) 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. (2) Trump also said China deserved the steep tariffs he imposed on their exports and predicted Beijing could find a way to reduce their impact on American consumers. (3) The European Union has made tangible offers to Donald Trump’s administration in an effort to return stability to the global economy, according to the bloc’s commissioner for international partnerships. (4) Companies around the world including carmakers, brewers, airlines and packaged food makers are sounding a warning that US President Donald Trump’s import tariffs are beginning to wreak havoc on their businesses (5) Switzerland risks missing out on lucrative contracts due to its policy of neutrality as European nations rearm in the face of Moscow’s aggression and tensions with the US. (6) Drugmaker Astrazeneca has told us it is seeing no particular benefit from the UK government's focus on economic growth. The company abandoned a planned £450 million investment in the UK at the start of this year. Podcast conversation: Controversial Arctic Parcel of Land May Sell for €300 MillionSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Canada’s Liberal Party is projected to win a fourth consecutive election, giving a mandate to former central banker Mark Carney after a campaign in which he pledged to boost economic growth and stand up to US President Donald Trump in a trade war. (2) Spain and Portugal were returning to some semblance of normality early Tuesday, with many questions remaining about what caused one of Europe’s worst blackouts in years across the Iberian peninsula the previous day. (3) HSBC unveiled a fresh buyback for shareholders despite an increasingly fragile geopolitical backdrop that has weighed on the global economy and markets. (4) Deutsche Bank’s trading unit hit a record in the first quarter as the lender benefited from market volatility. (5) President Donald Trump is on track to ease the impact of his auto tariffs, with changes sought by the industry that would lift some levies on foreign parts for cars and trucks made inside the US. (6) China’s top diplomat warned countries against caving in to US tariff threats, as the Trump administration hints at the possible use of new trade tools to pressure Beijing. Podcast conversation: When Spain disappeared off the grid, millions rediscovered the joys of analogue technology.  See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Foreign investors who bought US stocks and dollars are facing significant losses due to the decline in the S&P 500 and the dollar's value. (2) President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home. (3) The UK economy will grow half as quickly as previously expected in 2026 as Donald Trump’s sweeping tariffs hit business investment, according to EY Item Club. (4) Canada’s next prime minister is set to inherit a half-year of flat economic growth, economists predict, as people take to the polls on election day. (5) Eleven people were killed in Vancouver and dozens were injured after a driver plowed into a large crowd at a street festival on Saturday evening, according to police. (6) Private equity firms are scouring for investment opportunities in European defense - chasing a sector that was once seen as toxic, driven by a historic shift toward increased military spending. Podcast conversation: Did We Finally Find Life on Another Planet?See omnystudio.com/listener for privacy information.