Trump Tariff Deadline Day: 10% Baseline; Higher for Canada, Switzerland | Daybreak Europe 8/1/2025

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, it's Tariff Deadline Day - Donald Trump sets minimum global tariffs at 10%, but raises levies on Canada to 35% and Switzerland to 39%. There's a reprieve for Mexico, which now has 90 days to continue negotiations. Global stocks extend their losses to a sixth straight session.

Plus, shares in Apple rise after it reported its fastest quarterly revenue growth in three years. But there's a cloud over Amazon, which has forecast weaker-than-expected operating income, after investing billions in AI infrastructure.

Today's guests: Thomas Buberl, AXA, CEO & Stefan Dörfler, Erste Group, CFO.

Chapters:
00:00:00 - Daybreak Europe
00:02:05 - Trump Imposes Sweeping Global Tariffs
00:02:39 - Asian Stocks Head For Worst Week Since April
00:04:29 - AXA 1H Underlying Profit Beats Estimates
00:05:36 - Trump Imposes Sweeping Global Tariffs
00:06:57 - Trump Raises Tariff on Canada To 35%
00:09:40 - Investors Eye US Jobs Report
00:11:00 - Jobless Claims Lower Than Expected
00:12:00 - Apple Growth Rebounds on iPhone 16 Strength
00:13:54 - Amazon Falls After Profit Guidance
00:16:10 - Tariff Costs Stack Up For European Automakers
00:19:03 - Trump Demands Drug Companies Slash US Prices
00:20:36 - Witkoff Meets With Israeli PM Netanyahu
00:22:33 - US Sanctions Block Visas To Members of PLO, PA
00:25:56 - Thomas Buberl, AXA CEO
00:33:48 - Bayer Lifts Outlook on Drugs, Adds €1.7 Billion to Legal Costs
00:34:13 - Kering To Award EU20M Welcome Bonus to De Meo
00:34:41 - Bridgewater Founder Dalio Sells His Remaining Stake in Firm
00:35:11 - London Heathrow Proposes £49 Billion for Runway Expansion Plans
00:36:19 - Stefan Dörfler, Erste Group CFO
00:44:02 - CEOs on EU's Trade Deal With The US
--------
More on Bloomberg Television and Markets

Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.

Connect with Bloomberg Television on:
X:   / bloombergtv  
Facebook:   / bloombergtelevision  
Instagram:   / bloombergtv  

Connect with Bloomberg Business on:
X:   / business  
Facebook:   / bloombergbusiness  
Instagram:   / bloombergbusiness  
TikTok: https://www.tiktok.com/@bloombergbusi...
Reddit:   / bloomberg  
LinkedIn:   / bloomberg-news  

More from Bloomberg:
Bloomberg Radio:   / bloombergradio  

Bloomberg Surveillance:   / bsurveillance  
Bloomberg Politics:   / bpolitics  
Bloomberg Originals:   / bbgoriginals  

Watch more on YouTube:
Bloomberg Technology:    / @bloombergtechnology  
Bloomberg Originals:    / @business  
Bloomberg Quicktake:    / @bloombergquicktake  
Bloomberg Espanol:    / @bloomberg_espanol  
Bloomberg Podcasts:    / @bloombergpodcasts