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Trump Sends Letters, Tariffs up to 70%; US Tax Bill Passes Congress | Daybreak Europe 07/04/2025
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July 4, 2025
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47:11Now PlayingBloomberg 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, Donald Trump says letters are being sent to trading partners notifying them of the latest US tariff rates. He says for some countries it will be 10-20%, for others 60-70%. Global stocks slide on the news.
The One, Big, Beautiful Tax Bill passes Congress, paving the way for $3.4 trillion of tax cuts and increased spending. Plus, we look back on the UK Prime Minister's first year in office, after a week in which he was forced to u-turn on his flagship welfare reforms.
Today's guest: Yael Selfin, KPMG UK, Vice Chair & Chief Economist
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