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1st Aug deadline, letters sent, EU-US closing in on 'framework agreement' / On's robot ! / Macron visits UK

  • Writer: Stéphan
    Stéphan
  • Jul 8
  • 3 min read
ree

  • Trump announces steep tariffs on 14 countries starting Aug. 1 >>>> Trump's letters to Japan and South Korea demonstrate a complete lack of understanding of trade. Tariffs have nothing to do with America's trade deficits with either nation. Japan's tariffs on U.S. goods average less than 2%, and Korea's average less than 1%..

  • Markets : RBA surprised, and didn't cut (light AUD rally overnight), U.S eq markets slightly softer, though DAX +24K, if Trump gets serious about tariffs (as beautiful bill is now done he can take more actions he loves tariffs..) and too few deals are done, risk is this final deadline is not extended anymore, everyone has a view on outcome, Trump & Bessent keep pumping liquidities in system, so for now markets happy..

  • The EU said it's closing in on ''a framework trade agreement'' with the U.S

  • Fed independence is already dead: Trump will get his monetary bailout. The US president is right. Central bankers have been calling the shots for too long/Telegraph

  • The UK has risen up the ranks to become the joint top location for investment among CFOs around the world, a new survey has suggested, with financial officers open to taking on greater risks

  • BM Talks: Alex Patelis speaks / Podcast below - well worth a listen

  • Macron's UK state visit underlines effort to move on from Brexit nightmare

  • Swiss shoe maker On employs one robot instead of 300 workers

  • Is China dodging US tariffs? China's exports to the US fell -43% YoY in May, representing a $15 billion decline in trade value. However, the country’s total exports jumped +4.8% during the same period, per official Chinese data



German politicians demand ice cream price cap – media — RT World News Great use of tax payers money, pilitician's focus in the wrong place, quel joke, is this why they get voted in ?








We are joined in our latest edition of BM Talks by Alex Patelis, who served as Chief Economic Adviser to Greek Prime Minister Kyriakos Mitsotakis between 2019-2024. Alex also worked in investment banks including as Managing Director of Global Research at Merrill Lynch and studied under Ben Bernanke for his PhD from Princeton. 

We asked:

  • Ten years ago, Greece voted No in a referendum to a bailout, only for the new Prime Minister Alexis Tsipras to perform the exact opposite three weeks later. What happened?

  • Greece is now running a primary budget surplus with investment grade debt. How was this achieved? 

  • What lessons can the rest of the world take from this?

  • What does the German "Zeitenwende" mean for the EU?

  • Is this the end for the dominance of the US Dollar?

  • What advice do you have for Scott Bessent, who also moved from the world of finance into politics?

  • What do you think of populism? 












 
 
 

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