China's BYD calls UK electric car subsidies ‘stupid' as it expands in Europe
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Bloomberg
2 minutes ago
- Bloomberg
Bloomberg Surveillance: Trade Deals and Markets
Browse all episodes Bloomberg Surveillance: Trade Deals and Markets Bloomberg Surveillance Trade Deals and Markets Arrow Right 39:35 Watch Tom and Paul LIVE every day on YouTube: Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney July 28th, 2025 Featuring: 1) Kriti Gupta, host of Bloomberg TV & Radio in London, on European capitals are putting a brave face on the trade deal they struck with President Donald Trump, which will see the European Union accept a 15% tariff on most of its exports to the US while reducing levies on some American products to zero. 2) Elizabeth Economy, Hargrove Senior Fellow and co-chair of the Program on the US, China, and the World at Stanford University's Hoover Institution, on US and Chinese officials are meeting Monday to extend their tariff detente beyond a mid-August deadline, and haggle over other ways to further defuse trade tensions. ) Tiffany Wilding, Economist: North America at PIMCO, on Federal Reserve officials are determined to hold interest rates steady a little while longer, though an increasingly contentious debate at this week's policy meeting may bolster expectations for rate cuts in the fall. Fed Chair Jerome Powell is under intense pressure from President Donald Trump and his allies to reduce borrowing costs, and may face multiple dissents this week from officials who want to provide support to a slowing labor market. 4) Curtis Sliwa, founder and CEO of the Guardian Angels and NYC Mayoral candidate
Yahoo
30 minutes ago
- Yahoo
EU strikes trade deal with US but final decision still to be made on alcohol
The United States and European Union have agreed a trade deal in which a 15% tariff is set to be placed on most EU exports entering the US market, though a final decision is yet to be made on alcohol. Yesterday (27 July), the EU Commission announced that besides the 15% levy, the US and EU had also agreed on "zero-for-zero tariffs" on several goods, including "certain agricultural products". When asked in a press conference following the deal whether the zero-for-zero agreement included alcohol, spirits and wine, president of the Commission Ursula von der Leyen said "no decision' had been made yet. She added that the topic was something that would be discussed in the 'next days". In the Commission's statement, the president added that the deal creates "more predictability for our businesses". She added: "We are ensuring immediate tariff relief. This will have a clear impact on the bottom lines of our companies. And with this deal, we are securing access to our largest export market. At the same time, we will give better access for American products in our market. "This will benefit European consumers and make our businesses more competitive. This deal provides a framework from which we will further reduce tariffs on more products, address non-tariff barriers, and cooperate on economic security." Secretary general of The Brewers of Europe, Julia Leferman said that the United States is the "second most significant export market for European breweries, accounting for over a quarter of total European beer exports." She added: 'As it emerges that no decision has yet been taken on the treatment of alcoholic beverages and negotiations continue on the list of products - including agri-food, that could be covered by a zero-for-zero arrangement - The Brewers of Europe calls on EU and US negotiators to put beer on this list and also remove beer from the aluminium derivatives tariffs set by the US." Reflecting on the news, president of the European wine trade body Comité Européen des Entreprises Vins (CEEV) Marzia Varvaglione said: "We are still awaiting the full details of the agreement reached today and are watching with great anticipation the outcome of the upcoming negotiations regarding the list of products that will be included under the zero-for-zero tariff arrangement, among them some agricultural products' "We truly believe the trade of wine is of great benefit for both EU and U.S. companies, and it must be included in the zero-for-zero tariff arrangement. "And it's not just the EU side saying this - our U.S. counterparts have also been strong advocates for protecting this vital exchange" Varvaglione added. Meanwhile, secretary general of CEEV, Ignacio Sánchez Recarte said that it is "encouraging to know that we may be just days away from putting an end to the trade uncertainty that has weighed on our sector in recent months." He added: 'However, the consequences of failing to include wine in the final zero-for-zero deal would be severe. "We therefore call on negotiators to take decisive action: Include wine in the zero-for-zero agreement and safeguard a trade that has always delivered value, growth, and cooperation," Recarte said. President and CEO of the Distilled Spirits Council (DISCUS), Chris Swonger said the deal was "great news for US and EU relations, and we greatly appreciate President Trump's leadership." He added: 'We are optimistic that in the days ahead this positive meeting and agreement will lead to a return to zero-for-zero tariffs for US and EU spirits products". Just Drinks has also contacted spiritsEurope and FoodDrinkEurope for comment. "EU strikes trade deal with US but final decision still to be made on alcohol" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30 minutes ago
- Yahoo
Stellantis N.V. (STLA) Shifts Focus to EVs, Halts Hydrogen Plans
We recently compiled a list of Stellantis N.V. stands seventh on our list and has recently ended its hydrogen plans, shifting focus to EVs. Stellantis N.V. (NYSE:STLA), one of the world's largest automakers, is undergoing a strategic transformation by shifting its focus from hydrogen fuel cell technology to electric and hybrid vehicles. In July 2025, the company announced it would discontinue its hydrogen program due to high costs, limited infrastructure, and weak market demand. This decision includes halting the production of hydrogen-powered vans in France and Poland, with R&D resources redirected toward electrification projects. Notably, no job losses will result from this transition. Instead, Stellantis N.V. (NYSE:STLA) is doubling down on battery innovation, particularly in solid-state batteries through its partnership with Factorial Energy. The company is also expanding connected services and rolling out its new STLA AutoDrive 1.0, an in-house-developed SAE Level 3 autonomous driving system, highlighting its broader commitment to next-generation mobility. Photo by Tommy Krombacher on Unsplash This shift comes amid financial challenges, including a major loss in the first half of 2025, largely due to U.S. tariffs and production disruptions. However, for investors seeking cheap stocks to buy with long-term potential, Stellantis' aggressive EV pivot and restructuring under new CEO Antonio Filosa could present a compelling opportunity. The company is prioritizing growth in EVs and hybrids, aligning with broader industry trends that increasingly favor electric technologies over hydrogen. While we acknowledge the potential of STLA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
