Latest news with #BloombergDollarIndex
Time of India
6 days ago
- Business
- Time of India
Trump tariff blitz unleashes delayed shock to global economy
Bloomberg Live Events Bloomberg Four months after Donald Trump shocked the world and roiled markets by unveiling a placard full of tariff rates at the White House Rose Garden, his revisions unveiled Thursday generated a more subdued response among at an average of 15%, the world is still facing some of the steepest US tariffs since the 1930s, roughly six times higher than they were a year ago. Trump's latest volley outlined minimum 10% baseline levies, with rates of 15% or more for countries with trade surpluses with the far, the global economy has held up better than many economists expected after Trump's initial tariff blitz . A rush to beat the elevated rates spurred a front-loading of exports, aiding many Asian economies and shielding US consumers from price spikes.'For the rest of the world, this is a serious demand shock,' Raghuram Rajan , former India central bank governor and chief economist of the International Monetary Fund , who is now a professor at the University of Chicago Booth School of Business, told Bloomberg TV on Friday. 'You will see a lot of central banks contemplating cutting as the rest of the world slows somewhat in the face of these tariffs.'The months of negotiations, marked by Trump's social-media threats against US allies and foes alike, ended with new rates that were largely in line or lower than those on April 2, which were paused after stocks plummeted and bond yields surged. Still, there were some shocks, such as a punitive 39% rate for imports from Switzerland and an increase on some Canadian goods to 35%.Wall Street traders drove stocks to their worst session since May, fuelled by weak jobs and manufacturing data. The S&P 500 fell 1.5% as of 11:17 a.m. New York on US two-year debt — among the most sensitive to changes in monetary policy — slumped 21 basis points to a one-month low at 3.75% as money markets added aggressively to wagers on Federal Reserve interest-rate cuts. The Bloomberg Dollar Index tumbled as much as 1%, snapping a six-day Trump's new rates provide some certainty to manufacturers, plenty of tariff uncertainty remains. The US president is expected to unveil separate tariffs on imports of pharmaceuticals, semiconductors, critical minerals and other key industrial products in the coming weeks. And US courts are still assessing the legality of the 'reciprocal' past four months have also shown an increased willingness by Trump to use tariffs to settle geopolitical scores. While the 'Liberation Day' rates followed a crude formula linked broadly to a nation's trade deficit, the ensuing numbers appeared more arbitrary. Trump threatened Brazil over domestic politics, India over its ties with Russia and Canada over plans to recognise a Palestinian the new levies go ahead in seven days as planned and if deals on car tariffs with the European Union, Japan and South Korea stick, Bloomberg Economics estimates the average US tariff rate will rise to 15.2% from 13.3% — up significantly from just 2.3% before Trump took office.'It's a very high tariff wall,' said Deborah Elms, head of trade policy of the Hinrich Foundation. 'The cost is going to be significantly higher for American companies and American consumers who will respond surely by buying less.'Applying model results used by the Federal Reserve in the first trade war, Bloomberg Economics calculates the 12.8-percentage-point hike in the average tariff since Trump came back into office could cut US GDP by 1.8% and lift core prices by 1.1% over a period of two to three create downside risks for exporters that rely on US demand Economics reckon Canada and Mexico, which has an additional 90 days to negotiate, are 'well placed to weather the storm' thanks to carve outs for compliant goods compliant with the USMCA trade deal. The EU, Japan and South Korea — all with 15% rates — also come off better than by contrast, was hit hard with a tariff of 39% on its products. The franc was initially among the worst performing major currencies on Friday after the announcement, but it rebounded after weaker-than-expected US jobs Trade Representative Jamieson Greer cast the negotiations with Switzerland as complicated in a Bloomberg Television interview Friday, noting that the country has a large trade deficit with the US and pointing to its pharmaceutical industry exports.'They ship enormous amounts of pharmaceuticals to our country. We want to be making pharmaceuticals in our country. So this is a challenging situation,' Greer more broadly indicated that talks would continue with many economies eager to lower the rates Trump is setting.'I woke up this morning to a number of trade ministers texting me and emailing me,' he said. 'I'm always going to talk to these folks, and you know, if they have proposals, you know, I'll talk to them and I'll brief the president.'Thursday's tariff news didn't apply to China. Trump is set to make a call on whether to extend a tariff truce after talks wrapped in Stockholm this week. A Chinese official earlier said the two sides agreed to keep levies at their current levels for now, part of a trade truce after President Xi Jinping's government cut off the US from rare earth magnets in the wake of the April 2 did include a provision to impose a 40% additional tariff on goods deemed to be transshipped, a measure that appeared aimed at China, but it lacked clarity on how such a ruling will be made.'This provides a bit more clarity but there remains substantial uncertainty for manufacturers,' said Jonathan Kearns, Sydney-based chief economist at money manager Challenger Ltd. 'We've seen numerous changes in the US tariff regime to date and there could always be more. Companies will be wary of investing and setting plans while uncertainty remains.'Kearns, a former central bank official, said he expects greater pass through to the US consumer in the months on Friday downplayed concerns about the lack of clarity over transshipped goods.'Sometimes when companies say we want certainty, what they mean is we want a different outcome,' he said on Bloomberg Trump administration is hoping the new tariff regime will bring in revenue, shrink the trade deficit and spur companies to set up factories on US shores — all without driving up prices or cratering since Trump's Rose Garden rollout in April, he's faced criticism for over promising on trade deals after he and aides vowed to broker numerous agreements, with at least one pledging '90 deals in 90 days.' Economists are also warning US households will pay a price — with the blow depending on how the burden is split between exporters prepared to eat slimmer margins to retain sales and their US importers.'Unlike Trade War 1.0, when Chinese exporters and the RMB bore the brunt of the adjustment, this time round since tariffs are universal with minimum rate of 10%, there would likely be some pass-through to the US consumers,' said Selena Ling, an economist at Oversea-Chinese Banking Corp. in Singapore. 'This may complicate the picture for the Fed.'Federal Reserve Chair Jerome Powell this week shrugged off pressure from the White House and rejected arguments for an interest-rate cut from two dissenting officials, maintaining that the central bank needed to stay on guard against inflation risk, while the labor market remained the jobs report for July, released Friday, showed strong evidence of a slowing labor market — prompting Trump to renew his attacks on the Fed chief for not lowering rates, and investors to step up bets on a cut at the next to be seen is whether the US levies spur more tariff barriers around the globe. While the EU has placed tariffs on Chinese electric vehicles and others have mulled similar curbs on cheap Chinese goods, most have eschewed Trump's protectionist push.'While we haven't returned entirely to a 'law of the jungle' system, we have taken several huge strides back in that direction,' said Stephen Olson, a former US trade negotiator now with the ISEAS-Yusof Ishak Institute.'Don't assume this is the end of the story,' he added. 'Trump regards this as an ongoing reality show. More 'deals' or further tariff increases are almost certain to follow.'
Yahoo
04-06-2025
- Business
- Yahoo
Trump Says China's Xi Is ‘Extremely Hard to Make a Deal With'
(Bloomberg) -- President Donald Trump said in a late-night social media post that Chinese leader Xi Jinping was very tough to make a deal with, raising questions about whether a fragile economic truce between the world's two largest economies will hold. Where the Wild Children's Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry The Global Struggle to Build Safer Cars At London's New Design Museum, Visitors Get Hands-On Access LA City Council Passes Budget That Trims Police, Fire Spending China and the US are at odds on a number of issues, and have yet to confirm plans for a leader-to-leader call the White House has said it expects will happen later this week. 'I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!' Trump posted on Truth Social at around 2:17 a.m. Washington time. 'China's principle and position of developing China-US relations is consistent,' Chinese Foreign Ministry spokesman Lin Jian said at a regular press conference on Wednesday when asked about Trump's social media post about Xi. Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms. The White House didn't immediately respond to a request for comment placed in overnight hours after Trump's post. Tensions between the countries are ratcheting up again after a tariff truce in May. The Trump administration in recent weeks has barred the shipping of critical jet engine parts to China, throttled Beijing's access to chip-design software and sought to slap fresh curbs on Huawei Technologies Co. chips. US officials also announced last week a plan to start revoking visas for Chinese students. Beyond strains in economic ties, geopolitical tensions are also growing. China's Foreign Ministry over the weekend protested US Defense Secretary Pete Hegseth's assertion at a gathering of military chiefs that China poses an imminent threat to Taiwan, a self-ruled island claimed by Beijing. Market reaction was muted following Trump's post on Xi, given tensions between the US and China had increased in recent days. A gauge of Chinese stocks traded in Hong Kong pared gains to 0.5%, the Bloomberg Dollar Index slipped 0.1%, while US Treasuries were steady with the 10-year yield at 4.45%. Trump expressed hope Friday he would soon speak with Xi, telling reporters in the Oval Office that China violated part of the agreement the two nations made in Geneva to cut tariff levels and reduce tensions, but that 'I'm sure that I'll speak to President Xi, and hopefully we'll work that out.' While China has yet to confirm plans for direct leader-level talks, the White House has repeatedly insisted Trump and Xi were 'likely' to speak this week. A key sticking point appears to be critical minerals. Trump administration officials have accused Beijing of continuing to choke off access to rare earth magnets, despite Washington's decision to reduce tariffs last month hinging on China lifting such controls. Read: China's Rare Earths Grip Gives Xi Leverage in US Trade Duel One complication is that the US and China appear to have different understandings of what was agreed on rare earths at last month's trade talks in Geneva, Cory Combs, head of critical mineral supply chain research at Trivium China, told Bloomberg TV. 'On the US side, it seems clear now, there was a sense that Beijing would completely remove the requirement of an approval,' Combs said. 'That was not what Beijing seems to think it agreed to.' For its part, Beijing has accused the US of unilaterally introducing new discriminatory restrictions, and vowed to retaliate if the US insists on its own way. Trump has long said that direct talks with Xi were the only way to resolve differences between the nations, but the Chinese leader has been reluctant to get on the phone with his American counterpart — preferring that advisers negotiate key issues. Another reason is the world's No. 2 economy has shown resilience to America's steepest tariff regime in a century. But while record government spending and stimulus buoyed growth in the first quarter, the manufacturing sector shrank in recent months. Home prices have continued a yearslong slump, weighing on the spending power of consumers whose wealth is tied up in property. Trump had signaled a wish to have a call with his Chinese counterpart as early as February and later said he was willing to travel to the Asian nation to meet with Xi, although no such engagement has been scheduled so far. --With assistance from Colum Murphy, Lianting Tu, Josh Wingrove, Alice Gledhill and James Hirai. (Updates with additional details on US-China tensions throughout.) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Trump ‘Revenge' Tax Would Cut Foreign Investment, Congressional Panel Says
(Bloomberg) -- Congress's own official tax scorekeeper is predicting a 'revenge' tax buried in Donald Trump's massive fiscal package would realize Wall Street's fears and drive foreign investors away from US markets. NYC Congestion Toll Brings In $216 Million in First Four Months Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry NY Wins Order Against US Funding Freeze in Congestion Fight The item — introduced in legislation that passed the House last week as Section 899 — would increase tax rates for individuals and companies from countries whose tax policies the US deems 'discriminatory.' This includes raising tax rates on passive income, such as interest and dividends, earned by investors who are potentially sitting on trillions in American assets. Wall Street analysts are warning the provision would create another disincentive for foreign investors at a time when their once ironclad confidence in Treasury bonds and other US assets has already been shaken by Trump's erratic trade policies and the nation's deteriorating fiscal accounts. Congress's nonpartisan Joint Committee on Taxation, charged with producing official revenue forecasts for the legislation, assessed it would lead to a 'decline in foreign demand for US direct and portfolio investment' and 'general avoidance and compliance behavior' by foreign companies in response to the retaliatory taxes, Thomas Barthold, the JCT's chief of staff, said in a statement to Bloomberg Tax in response to questions about the committee's estimates. As a result of that, and its effects on US tax receipts and US asset values, revenues from the proposal are projected to decline beginning in 2028 and turn into a loss in the last years of the 10-year budget window that the JCT examined, Barthold told Bloomberg Tax. The JCT has estimated the provision will bring in $116.3 billion in revenue over the next 10 years. But the committee projected it would ultimately lower annual US tax revenues by $12.9 billion in 2033 and 2034. Barthold said the reduced profitability of foreign-headquartered companies would reduce baseline US tax receipts. He added that lower foreign demand for US investment would also reduce US asset values. Those effects 'dominate' the revenues collected under the retaliatory tax plan in the last years of the 10-year window, leading to the revenue loss, he said. For now, the market reaction to Section 899 appears muted at best. Still, US assets as a whole have been underperformers this year as Trump's policies put a dent in the narrative of the 'America exceptionalism.' Long-term Treasury yields have catapulted higher this year and the value of the US dollar has dropped by about 7%, according to the Bloomberg Dollar Index. Moody's Ratings downgrade of the US government's credit rating this month has also added to a 'Sell America' trade. Foreign investment in US long-term securities, including stocks and bonds, amounts to around $31 trillion. And while foreign accounts' share of US Treasury debt has slid in the last decade, they still hold about a third of the near $29 trillion outstanding. 'A foreign tax provision in the One Big Beautiful Bill Act is alarming,' wrote Elias Haddad, a strategist at Brown Brothers Harriman & Co. in a note. 'If the bill as presently written takes effect, it would deter foreign investment in US assets at a time when the country faces increasing reliance on foreign capital to finance its ballooning debt.' House Ways and Means Committee Chair Jason Smith, whose committee handled the measure's tax components, said he hopes the provision will serve as a deterrent to foreign governments and won't be deployed. He described the provision as an effective tool for retaliating against countries that try to crack down on US businesses. 'A big concern is that foreign governments, based on agreements entered by the Biden administration, is trying to suck away billions of dollars from US companies,' Smith said during a panel in California, referring to countries that are seeking to impose digital services taxes on large technology companies such as Meta Platforms Inc. and Alphabet Inc.'s Google. 'In fact, $120 billion from US companies. This is a way to help put them in check so that they understand if they do that to US businesses, there will be consequences for their actions.' Smith added the tax writers are hoping that punitive tax rate in Section 899 isn't imposed. 'Hopefully it'll never take effect,' Smith said. The Trump tax provision would boost the federal income tax rate on passive US income earned by investors and institutions based in the targeted countries, first by 5 percentage points, then rising by another five points each year to a maximum of 20 points above the statutory rate. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce How Coach Handbags Became a Gen Z Status Symbol Will Small Business Owners Knock Down Trump's Mighty Tariffs? ©2025 Bloomberg L.P. 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Yahoo
16-05-2025
- Business
- Yahoo
Wall Street Strategists React to Moody's US Credit Rating Cut
(Bloomberg) -- US stocks declined and Treasury yields rose after Moody's Ratings downgraded the US credit rating, citing an increase in government debt and a higher interest burden. As Coastline Erodes, One California City Considers 'Retreat Now' How a Highway Became San Francisco's Newest Park Maryland's Credit Rating Gets Downgraded as Governor Blames Trump NJ Transit Train Engineers Strike, Disrupting Travel to NYC Power-Hungry Data Centers Are Warming Homes in the Nordics An exchange-traded fund tracking the S&P 500 Index fell 1% in postmarket trading after the agency downgraded the nation's score to Aa1 from Aaa. The Invesco QQQ Trust Series 1 ETF declined 1.3%, while Treasury futures closed at session lows. The Bloomberg Dollar Index paused trading at 4 p.m. in New York before the announcement by Moody's. The firm attributed the downgrade to an increase in government debt, a move that clouds the nation's status as the world's highest-quality sovereign borrower. The firm joined Fitch Ratings and S&P Global Ratings in grading the world's biggest economy below the top, triple-A position. The move adds to compounding risks facing the US market as President Donald Trump's sporadic tariff regime weighs on the economic outlook. Although the S&P 500 has recovered from the depths of last month's rout, many Wall Street professionals remain skeptical of the advance as the toll of tariffs on business and consumer confidence threaten to show up in economic data in months ahead. Here's how investors and market watchers are reacting to the news: Eric Beiley, executive managing director of wealth management at Steward Partners: 'This is a warning sign. The US stock market is about to hit a ceiling after a much welcomed rally. A credit-rating downgrade by Moody's may end up spurring some profit taking by money managers after a massive run for equities the past month.' Ivan Feinseth, chief investment officer at Tigress Financial Partners: 'US Treasury bonds are viewed as the safest investments in the world. When America's credit rating gets downgraded, the reverberations may potentially be more negative for other countries' sovereign debt because the US is the benchmark. It remains to be seen how this will affect equity markets in the coming weeks, but there may be caution following the strong stock gains recently.' Dave Mazza, chief executive officer of Roundhill Investments: 'While Moody's finally made it official, markets have likely seen a diminished US credit profile coming for some time. Unlike the shock of S&P's August 2011 downgrade, this downgrade lands in a market already wary of fiscal dysfunction and tariff risk — meaning the impact on stocks may be more muted than initial headlines suggest.' Thomas Thornton, founder of Hedge Fund Telemetry LLC: 'This is not good for overall US markets. This is not like when S&P lowered the AAA rating back in 2011 which was a shocker and markets were already teetering then. The bond market is seeing rates late in the day move higher and rates moving higher, faster and sharper has been number one on the risk list for me.' Kim Forrest, chief investment officer at Bokeh Capital Partners LLC: 'This is not the first time the US has been downgraded. I think this is an alarm bell. While I understand futures are probably wonky, we'll see what happens. Because none of this is news to informed investors. Especially the most important section that we're talking about when we're talking about debt, which is the bond investor. They're well aware.' Dan Greenhaus, chief market strategist at Solus Alternative Asset Management LP: 'The United States is running a giant, peacetime budget deficit unlike anything we've seen probably in our lifetimes. But we all know that. Moody's isn't telling us anything new.' Max Gokhman, deputy chief investment officer at Franklin Templeton Investment Solutions: 'A Treasury downgrade is unsurprising amid unrelenting unfunded fiscal largesse that's only set to accelerate with plans currently in Congress. Moreover, debt servicing costs will continue creeping higher as large investors, both sovereign and institutional, start gradually swapping Treasuries for other safe haven assets. This, unfortunately, can create a dangerous bear steepener spiral for US yields, further downward pressure on the greenback, and reduce the attractiveness of US equities.' Michael O'Rourke, chief market strategist at JonesTrading: 'I expect the equity market will experience a round of profit taking after the strong rebound that occurred. Back in 2011 when S&P downgraded the USA, Treasuries initially sold off but then a haven bid emerged and they rallied.' Keith Lerner, co-chief investment officer at Truist Advisory Services: 'I don't think this is a game changer but does provide an excuse for investors to take a little bit of profits. It does, however, highlight the potential rise in deficits and will put more focus on that with the current discussions around the extension of the tax bill.' --With assistance from Natalia Kniazhevich, Jessica Menton and Jeran Wittenstein. (Updates postmarket trading in second paragraph.) Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race As Nuclear Power Makes a Comeback, South Korea Emerges a Winner Tariffs Won't Reindustrialize America. Here's What Will ©2025 Bloomberg L.P. 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
16-05-2025
- Business
- Yahoo
Wall Street Strategists React to Moody's US Credit Rating Cut
(Bloomberg) — US stocks declined and Treasury yields rose after Moody's Ratings downgraded the US credit rating, citing an increase in government debt and a higher interest burden. As Coastline Erodes, One California City Considers 'Retreat Now' How a Highway Became San Francisco's Newest Park Maryland's Credit Rating Gets Downgraded as Governor Blames Trump NJ Transit Train Engineers Strike, Disrupting Travel to NYC Power-Hungry Data Centers Are Warming Homes in the Nordics An exchange-traded fund tracking the S&P 500 Index fell 0.6% in postmarket trading after the agency downgraded the nation's score to Aa1 from Aaa. The Invesco QQQ Trust Series 1 ETF declined as much as 0.8%, while Treasury futures slid to a session low. The Bloomberg Dollar Index paused trading at 4 p.m. in New York before the announcement by Moody's. The firm attributed the downgrade to an increase in government debt, a move that clouds the nation's status as the world's highest-quality sovereign borrower. The firm joined Fitch Ratings and S&P Global Ratings in grading the world's biggest economy below the top, triple-A position. The move adds to compounding risks facing the US market as President Donald Trump's sporadic tariff regime weighs on the economic outlook. Although the S&P 500 has recovered from the depths of last month's rout, many Wall Street professionals remain skeptical of the advance as the toll of tariffs on business and consumer confidence threaten to show up in economic data in months ahead. Here's how investors and market watchers are reacting to the news: Eric Beiley, executive managing director of wealth management at Steward Partners: 'This is a warning sign. The US stock market is about to hit a ceiling after a much welcomed rally. A credit-rating downgrade by Moody's may end up spurring some profit taking by money managers after a massive run for equities the past month.' Ivan Feinseth, chief investment officer at Tigress Financial Partners: 'US Treasury bonds are viewed as the safest investments in the world. When America's credit rating gets downgraded, the reverberations may potentially be more negative for other countries' sovereign debt because the US is the benchmark. It remains to be seen how this will affect equity markets in the coming weeks, but there may be caution following the strong stock gains recently.' Dave Mazza, chief executive officer of Roundhill Investments: 'While Moody's finally made it official, markets have likely seen a diminished US credit profile coming for some time. Unlike the shock of S&P's August 2011 downgrade, this downgrade lands in a market already wary of fiscal dysfunction and tariff risk — meaning the impact on stocks may be more muted than initial headlines suggest.' Thomas Thornton, founder of Hedge Fund Telemetry LLC: 'This is not good for overall US markets. This is not like when S&P lowered the AAA rating back in 2011 which was a shocker and markets were already teetering then. The bond market is seeing rates late in the day move higher and rates moving higher, faster and sharper has been number one on the risk list for me.' Kim Forrest, chief investment officer at Bokeh Capital Partners LLC: 'This is not the first time the US has been downgraded. I think this is an alarm bell. While I understand futures are probably wonky, we'll see what happens. Because none of this is news to informed investors. Especially the most important section that we're talking about when we're talking about debt, which is the bond investor. They're well aware.' Dan Greenhaus, chief market strategist at Solus Alternative Asset Management LP: 'The United States is running a giant, peacetime budget deficit unlike anything we've seen probably in our lifetimes. But we all know that. Moody's isn't telling us anything new.' Max Gokhman, deputy chief investment officer at Franklin Templeton Investment Solutions: 'A Treasury downgrade is unsurprising amid unrelenting unfunded fiscal largesse that's only set to accelerate with plans currently in Congress. Moreover, debt servicing costs will continue creeping higher as large investors, both sovereign and institutional, start gradually swapping Treasuries for other safe haven assets. This, unfortunately, can create a dangerous bear steepener spiral for US yields, further downward pressure on the greenback, and reduce the attractiveness of US equities.' Michael O'Rourke, chief market strategist at JonesTrading: 'I expect the equity market will experience a round of profit taking after the strong rebound that occurred. Back in 2011 when S&P downgraded the USA, Treasuries initially sold off but then a haven bid emerged and they rallied.' Keith Lerner, co-chief investment officer at Truist Advisory Services: 'I don't think this is a game changer but does provide an excuse for investors to take a little bit of profits. It does, however, highlight the potential rise in deficits and will put more focus on that with the current discussions around the extension of the tax bill.' —With assistance from Natalia Kniazhevich, Jessica Menton and Jeran Wittenstein. Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race As Nuclear Power Makes a Comeback, South Korea Emerges a Winner Tariffs Won't Reindustrialize America. Here's What Will ©2025 Bloomberg L.P.
