US-China Trade Progress & Trump Targets Big Pharma | Daybreak Europe 05/12/2025
May 12, 2025
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47:23Now PlayingUS-China Trade Progress & Trump Targets Big Pharma | Daybreak Europe 05/12/2025
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as posted by the channelBloomberg 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, The US and China are both citing progress, following two days of talks in Switzerland aimed at de-escalating their trade war. Treasury Secretary Scott Bessent says Washington will share details today, with Vice Premier He Lifeng promising a joint statement.
Meanwhile, shares in Asian drugmakers are lower this morning after President Trump said he planned to slash US rescription drug costs.
In a social media post, Trump said he will sign an executive order today mandating that Americans pay no more than people in countries that have the lowest price.
President Trump's effort to secure peace in Ukraine is reaching a decisive moment, with Ukraine's Volodymyr Zelenskiy challenging Vladimir Putin to engage in talks this week. Zelenskiy said he will travel to Istanbul on Thursday where Putin has proposed direct negotiations. It follows a weekend of frantic diplomacy that saw the leaders of Germany, France, Poland and the UK visit Zelenskiy in Kyiv.
Today's Guests: Lauren van Biljon, Senior Portfolio Manager at Allspring Global Investments.
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