Squawk Box Europe Express

U.S. and Chinese officials meet in London in an attempt to cool trade tensions and potentially re-negotiate tariffs. The EU and China agree on fast-tracking rare earth exports with Beijing expecting reciprocal measures to promote trade in high-tech products with the bloc. President Trump deploys the National Guard in Los Angeles following three days of violence over federal deportation and illegal...

A spectacular falling-out between President Trump and Elon Musk causes Tesla shares to plummet but the pair are reportedly set to mend fences in a phone call later today. President Trump hails his relationship with Chinese counterpart Xi Jinping following a trade-focused call. Trump said he had accepted an offer to visit Xi “at a certain point”. Trump and German Chancellor Friedrich Merz showed a...

The CBO says that President Trump’s BBB could add almost $2.5tn to the U.S. deficit. Tesla CEO Elon Musk, who oversaw Doge cuts to government waste, has urged lawmakers to ‘kill the bill’. We hear from London Mayor Sadiq Khan who says he welcomes Prime Minister Keir Starmer’s efforts to strike a trade deal with President Trump but that trade ties with the EU should be deepened. And we are liv...

Elon Musk slams President Trump’s budget bill describing it as ‘an abomination’ that will balloon the deficit. Doubled U.S. levies come into effect today but the UK escapes 50 per cent tariffs on steel. And we are live in Berlin at the Super Return forum where top names in private markets with around $50tn in assets are gathering. See Privacy Policy at https://art19.com/privacy and California...

Washington is reportedly demanding countries put forward their best trade talk offers by tomorrow as the reciprocal tariffs deadline of 8 July draws nearer. The EU has responded saying it will push for tariff cuts with the U.S. in meetings scheduled this week. The bloc has repeated its threats of counter-measures should an agreement fail to be reached. We hear from German Steel Association head Gu...

The EU says it is mulling counter-measures after President Trump’s steel tariffs doubles tariffs on steel imports. The U.S and China accuse each other of not respecting the trade agreement made in Geneva last month. In Poland Karol Nawrocki wins the presidential election to dent Prime Minister Donald Tusk’s centrist agenda. And in M&A news, French pharma giant Sanofi has moved to snap up U.S....

A U.S, federal appeals court has temporarily reinstated President Trump’s tariffs just a day after the U.S. Court of International Trade ruled he had overstepped his authority in imposing the levies. President Trump summons Federal Reserve Chairman Jerome Powell to the White House over his interest rate policy stance. Powell has insisted his rate decisions will remain data-based. And we are l...

A U.S. court has ruled that a majority of President Trump’s tariffs, including reciprocal levies, which were tied to the Emergency Economic Powers Act were an overstep of presidential authority. The White House has filed a notice of appeal with the court. Chip giant Nvidia sees shares soar following the company posting a better-than-expected Q1 revenue beat of 69 per cent. CEO Jensen Huang has cri...

All focus is on A.I. chip giant Nvidia which is due to report quarterly results after the U.S. bell today. Investors will be scrutinising how the company is faring following a $5.5bn China export hit. U.S. consumer confidence for May shows a sharp rebound, lifting equities out of a four-day slump in the red and helping the USD to its best performance in recent weeks. In Europe, Germany’s DAX posts...

President Trump’s tariff postponement helps to boost sentiment in Europe with French and German stocks starting the week solidly in the green. The autos and aerospace sectors lead gains. ECB President Christine Lagarde says that the euro could rival the dollar in times of political volatility if the bloc can succeed in strengthening its security and capital markets. And in autos news, Tesla’s Apri...

President Trump postpones EU tariff talks until July following a phone call with EC president Ursula Von Der Leyen to grant the bloc a reprieve from his threat of a 50 per cent levy. In Asia, Apple iPhone suppliers are in the red following Trump’s threat of a 25 per cent tariff on the company’s phones manufactured outside the U.S. Chinese automaker BYD cuts prices by up to 35 per cent as concerns...

U.S. yields and the 30-year note rise above 5 per cent as U.S. debt burden worries persist. The U.S. House of Representatives passes President Trump’s tax and spending bill by a single vote that could add $4tn in U.S. debt. The bill is now due to makes its way through the Senate. We are live in Athens where Greek Prime Minister Kyriakos Mitsotakis tells us exclusively that he believes the U.S. and...

The House of Representatives holds an all-night session as the GOP looks to push President Trump’s budget bill. The proposed tax cuts are expected to add trillions of dollars to the country’s deficit in the next 10 years. As a result, European markets are in the red and are due to track Wednesday’s disappointing session. And in tech news, Open A.I. is to buy the A.I. device start-up belonging to f...

President Trump calls on Republican ‘holdouts’ to agree to his budget plans in a private meeting. Trump said he was confident the bill would soon be passed as law. Our colleagues Stateside sit down with Tesla CEO Elon Musk who says he wants to continue at the helm of the auto maker for the next 5 years and is committed to ramping up the number of autonomous vehicles on U.S. roads by next year. See...

EV Battery maker CATL lists on the Hong Kong stock exchange, sending shares soaring. It’s the world’s largest IPO this year. UK Prime Minister Keir Starmer re-sets relations with the EU, promising to boost Britain’s global trade standing but the move provokes anger domestically. JP Morgan Chase CEO Jamie Dimon says markets and central banks are ‘complacent’ about risk amid a ballooning U.S. defici...

Global markets fall and yields jump as Moody's cuts its U.S. credit rating - the first time in history that the country hasn't held a perfect AAA rating with any of the major agencies. Attention turns to London as the U.K. and EU near a historic reset of trade relations - as Ryanair CEO Michael O'Leary calls for closer ties between the two sides. See Privacy Policy at https://art19.com/privacy and...

President Trump concludes his multi-stop Middle East tour having signed mega A.I. and aviation investment deals in Abu Dhabi, Doha and Riyadh but has raised concerns among some of his administration regarding advanced A.I. security restrictions. UK Prime Minister Keir Starmer is in Albania for talks with European counterparts on a potential post-Brexit deal. Youth mobility and fishing rights will...

President Trump’s Middle Eastern tour continues to Doha where he helps Boeing secure a mega-deal with Qatar Airways. He heads to the UAE later today. Shares in trading platform Etoro Group soar off the back of its Nasdaq IPO which could potentially herald a reset in IPO sentiment on Wall Street. Siemens posts a Q2 beat, hiking its FY guidance. CEO Roland Busch tells CNBC a tariff deal with th...

U.S. President Donald Trump hails his return to Saudi Arabia where he has secured hundreds of billions of dollars of investment from the kingdom. He will be heading to Qatar later today. The U.S. Agriculture Secretary, Brooke Rollins, says Trump’s global trade negotiations will be a boon to the whole world. German shipping giant Hapag-Lloyd confirms its FY outlook despite trade concerns on the hor...

Global markets rally on the back of yesterday’s U.S.-China trade truce with mining and tech stocks leading European gains. Stateside, the Magnificent 7 companies add $800bn in market cap. President Trump signs an executive order to force European countries to pay higher prices for pharmaceuticals and vows to punish countries which refuse to match lower drug costs in the U.S. And President Trump em...

The U.S. and China reach a trade deal with both sides slashing their respective tariffs by 115 per cent. U.S. Treasury Secretary Scott Bessent says both sides have moved towards balanced trade. China-exposed shares soar in Europe with luxury, autos and tech leading the way. However, pharma stocks plummet following President Trump’s announcement that he will sign an executive order to reduce drug p...

U.S. and Chinese trade negotiators hail ‘substantial’ momentum following talks in Geneva over the weekend. Further details are promised later today. President Trump vows to sign an executive order which would see American drug prices cut by up to 80 per cent. Italian lender Unicredit posts a top and bottom line beat in Q1 and raises its FY guidance. CEO Andrea Orcel tells CNBC his bank’s plans for...

The U.K. And the U.S. seals the first trade agreement of Trump's tariff war — but loose ends remain on the details. Meanwhile, attention turns to this weekend's negotiations between the U.S. and China in Switzerland, as President Trump says he may consider lowering the sky-high tariff level against Beijing. In Europe, Commerzbank bucks expectations to report nearly 12% profit growth in the first q...

The UK and U.S. may potentially unveil a major trade deal as soon as this afternoon. President Trump has teased that an announcement is due at 3PM BST. The U.S. Federal Reserve has held rates steady once again, citing increased economic uncertainty ahead. Meanwhile, in the UK, the BoE is set to slash rates for a second time this year with more moves expected over the summer.   See Privac...

Beijing moves to increase stimulus into the economy from rate cuts to liquidity injections in an attempt to counter the effects of President Trump’s tariffs. U.S. and Chinese officials are due to hold trade talks in Switzerland this weekend. India bombs targets in Pakistan in retaliation for last month’s terror attack on Hindu tourists in the divided region of Kashmir. Danish pharma giant Novo Nor...