Trump Initiates Chips and Drug Probes Ahead of More Tariffs | Daybreak: Europe 04/15/2025

Bloomberg 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, shares in automakers rise after President Trump said he is exploring temporary tariff exemptions to give auto companies more time to set up US manufacturing. However, his administration presses forward with trade probes on pharmaceutical and semiconductor imports – a precursor to potential levies. In an exclusive interview with Bloomberg, Treasury Secretary Scott Bessent dismisses speculation that foreign governments are selling off US debt following the recent rout in treasuries.

Today’s Guests: Melanie Baker, Royal London Asset Management Senior Economist

Chapters:
00:00:00 – Daybreak Europe
00:00:23 – Bessent Says Treasury Has Big Toolkit If Needed for Bonds
00:01:20 – Trump Floats Temporary Reprieve for Autos as Parts Tariffs Loom
00:06:35 – Trump Initiates Chips and Drug Probes Ahead of More Tariffs
00:10:25 – Treasury Rebound Relieves Markets
00:14:38 – Sefcovic: EU Remains Ready for Fair Deal
00:16:41 – Trump: EU Doesn’t Take Our Cars
00:18:44 – US-Iran Skeptisim
00:19:56 – US, Iran Set to Meet in Rome for More Talks
00:24:02 – Tariff Give and Take
00:25:07 – Trump Floats Auto Tariff Reprieve
00:28:50 – Citi Exposed on Card
00:31:12 – JP Morgan, BNY Limit Info Sharing
00:31:23 – LVMH Sales Fall as Shoppers Curb Spending on Luxury Goods
00:39:46 – Melanie Baker, Royal London Asset Management Senior Economist
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