The European Union dodged an imminent trade war with the US this week, but markets and a growing chorus of critics have dispelled early hopes that the deal will bring a sense of stability back to transatlantic relations. The euro fell to a five-week low of $1.1527 on Tuesday, having fallen about 1.8% since the trade deal was announced. That’s after the common currency had surged to a near three-year high last week on the prospect of an agreement with the US. Meanwhile as the US continues trade talks with China in Stockholm, President Donald Trump said reports of him seeking a summit with China’s Xi Jinping are “not correct”.
Today’s guests: Ursula Marchioni, BlackRock EMEA Head of Investment and Portfolio Solutions, Patrick Hummel, UBS Head of European Autos Research, Vivian Lin Thurston, William Blair Investment Management Portfolio Manager, Anke Reingen, RBC Capital Markets Co-Head of Global Financials Research.
Chapters:
00:00:00 – The Pulse
00:02:29 – Bessent Arrives for China Talks
00:05:34 – EU Leaders Defend US Trade Deal
00:10:05 – Ursula Marchioni, BlackRock EMEA Head of Investment and Portfolio Solutions
00:13:38 – Trump Tariffs Weigh on Global Economy
00:18:09 – Patrick Hummel, UBS Head of European Autos Research
00:23:12 – Earnings Lift for EU Automakers From Trade Deal
00:25:58 – Trump Raises Pressure on Putin Over Ukraine
00:30:53 – Investors Look to Diversify out of Dollar
00:33:22 – Vivian Lin Thurston, William Blair Investment Management Portfolio Manager
00:42:05 – Anke Reingen, RBC Capital Markets Co-Head of Global Financials Research
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