China Tariff Plan, Trump Rejects Hormuz Offer, More
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What is the opening focus of Bloomberg News Now and who are the hosts?
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News Now, I'm Karen Moscow. And I'm Alexis Christophorus. Here are the stories we're following today.
Alexis, we begin with the latest on US China relations following the summit between Donald Trump and Xi Jinping. The two countries detailed the plan to cut tariffs on about thirty billion dollars of imports from each nation. The list for goods entering the U.S. contains seventy-seven entries, including fireworks and toys, while more than sixteen hundred goods are set to potentially enter China, such as metal or meat rather, I should say, and medical equipment. Begin more from Bloomberg Chief Asia correspondent Steven Engel.
It's putting some details to what they agreed on on maybe the lower hanging fruit of trade disputes. There's still a lot more contentious issues, no doubt, including chips and uh other m national security items.
And Blueber Steven Engels says the expected tariff relief of sixty billion dollars in bilateral trade is a fraction of the four hundred fifteen billion in total goods exchanged between the world's largest economies last year.
What details were revealed about the new US‑China tariff reduction plan?
Now to the latest on the war in the Middle East, Iran is sticking to its seven day proposal for reopening the crucial Strait of Hormuz, saying it won't soften its conditions, while President Trump sent mixed signals about his willingness to reach a deal. We get more from Bloomberg Middle East correspondent Abir Abu Omar.
A lot of mixed signals over the weekend. Of course, eventually President Trump had rejected this plan that Iran had laid out about a seven day ceasefire to reopen the Strait of Hermos. He did say that he might have agreed to the conditions that Iran had laid out a year ago, but Iran had overplayed its hand. Now from the Iranian side, we also have heard from the Foreign Minister Abbas Arakshi, who said that diplomacy is Always on the table. Iran prefers diplomacy, prefers to go back to the negotiating table, but that he doesn't see a way for it.
Middle East correspondent Abir Omar Abu Omar. Meantime, oil rising on these latest development developments. Brent crude now up nearly four percent at one oh eight twenty five a barrel. WTI crude now at ninety six dollars a barrel, up nearly four percent, Karen.
Well, Lexus, UK police investigating a potential terrorism incident after five men were arrested near an airbase used in US strikes on Iran. We go to London and get the very latest at Bloomberg's Nathan Hager. Nathan, good morning.
Good morning, Karen Alexis. The uh investigation's in the early stages, obviously, but this was near RAF Fairford in the area of Gloucestershire in western England. Uh it's a base that the U.S.
Why did President Trump reject Iran’s seven‑day Strait of Hormuz cease‑fire proposal?
is using as a forward staging area for bombers in defensive strikes against Iran. Local police say they got a call around a quarter to one in the morning local time yesterday of three suspicious vans appearing to be headed toward the base. Armed police arrested those five men while evacuating dozens of residents. From a nearby village and bringing in a bomb disposal unit to examine the vehicles. President Trump says the suspects were looking to do big damage to the base. He suggested some of them may have been under surveillance, but he didn't give more details. UK Defense Minister Wes Streeting told Bloomberg this morning it is too soon to link this incident with the Iran conflict, but he says there's no doubt Tehran poses a threat to his country, its interests, and its allies.
In London, I'm Nathan Hager. Bloomberg Radio.
Thanks, Nathan. The arrests come as UK Prime Minister Andy Burnham goes into his first Labour Party conference as Britain's Prime Minister.
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Chapters
8 chapters
1
What is the opening focus of Bloomberg News Now and who are the hosts?
0:00–1:35
2
What details were revealed about the new US‑China tariff reduction plan?
1:35–3:05
3
Why did President Trump reject Iran’s seven‑day Strait of Hormuz cease‑fire proposal?
3:05–4:17
4
What happened in the UK investigation of a possible terrorism plot near RAF Fairford?
4:17–5:47
5
How is Britain’s new Labour Prime Minister Andy Burnham shaping his agenda at the party conference?
5:47–7:22
6
What are the latest weather impacts across the Northeast and how are they affecting travel?
7:22–8:52
7
Why are Treasury yields spiking and what is the Fed’s stance on interest rates?
8:52–9:52
8
How is NVIDIA’s new double‑layer AI security system designed to protect advanced models?
9:52–10:15
Speakers
13 identifiedMore from Bloomberg News Now
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