US President Donald Trump threatened Japan with tariffs of up to 35% as he ramped up tensions for a third straight day, fueling fears of a worst-case scenario among market players and raising doubts over Tokyo’s tactics in trade talks. Japan should be forced to “pay 30%, 35% or whatever the number is that we determine, because we also have a very big trade deficit with Japan,” Trump said, again flagging the possibility that across-the-board tariffs could go much higher than the 24% initially penciled in for July 9. “I’m not sure we’re going to make a deal. I doubt it with Japan, they’re very tough. You have to understand, they’re very spoiled.”
Today’s guests: Stefan Hoops, DWS Group CEO, Isabelle Mateos y Lago, BNP Paribas Chief Economist, Holger Schmieding, Berenberg Chief Economist.
Chapters:
00:00:00 – The Pulse With Francine Lacqua
00:00:32 – Trump Sticks With July 9 Tariff Deadline While Criticizing Japan
00:11:23 – Hoops: Germany Defense Sector is Opportunity
00:16:28 – Ueda: Tariffs Could Add to Inflation in 2026
00:36:35 – Starmer Emerges From Welfare Bout Weaker and Billions in Red
00:41:11 – Trump’s 35% Tariff Threat Feeds Japan’s Worst-Case Scenario Fear
00:43:19 – Trump, Musk Feud Again After Tax Bill Criticisim
00:46:49 – Uncertainty Dominates ECB’s Annual Retreat
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