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Trump Says He'll Set Unilateral Tariffs; China's Biotech Boom | Bloomberg Daybreak: Asia Edition
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June 12, 2025
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16:43Now PlayingUS equity-index futures dipped along with the dollar after President Donald Trump said he will set unilateral tariff rates within two weeks, dialing up trade tensions once again. The comments come a day after Chinese and US officials struck a positive tone following their talks to dial down trade tensions. Amid US talking with countries including India and Japan to lower the levies, some investors see Trump's comments as an effort to ramp up urgency in talks. We talk markets with Zachary Hill, Head of Portfolio Management at Horizon Investments.
Plus - China's biotech industry is gaining momentum, with Pfizer and Bristol-Myers Squibb making billion-dollar deals with Chinese companies to license experimental cancer drugs. The industry is expected to continue growing, driven by factors such as US President Donald Trump's economic policies, cheaper and easier human testing in China, and an abundance of young and affordable engineering talent. We check in with Shuli Ren, Bloomberg Opinion Columnist, for a closer look at the sector.
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