Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Stephen Carroll.
And I'm Caroline Hepker.
The British Prime Minister Keir Starmer has told Bloomberg the UK doesn't have to choose between the United States and China. The Labour leader will head to Beijing later today as he seeks to court closer relations with the world's second largest economy while not drawing the ire of the US President.
In an exclusive interview with our UK political editor Alex Wickham, Starmer discussed what he sees as significant opportunities for British businesses in China.
Chapter 2: What is Keir Starmer's stance on UK relations with China and the US?
With more, here's Bloomberg's Chris Pitt.
Starmer's trip to China is the first by a British prime minister in eight years, and it comes just days after his Canadian counterpart Mark Carney was threatened with 100% tariffs by President Trump following his own trip to Beijing. But Starmer insists he can meet China's President Xi Jinping without angering the White House.
Speaking to Bloomberg, he said, quote, I'm often invited to simply choose between countries. I don't do that.
Reflecting on a week of turbulent diplomacy with the US, Starmer indicated that the UK will now have to forge closer military links with the EU, as he pointed to what he described as a mature relationship with the US President, adding that the UK navigated last week's challenges with pragmatism and common sense. In London, Chris Pitt, Bloomberg Radio.
In that interview, the Prime Minister also hit back at talk of a challenge to his leadership, saying that he has a personal mandate for change. Bloomberg's Ewan Potts has more.
Keir Starmer says he was elected in 2024 with a landslide majority to deliver change for the country. Speaking in our Downing Street interview, the Prime Minister made clear he has a personal five-year mandate.
Despite some recent polls putting Labour behind the Conservatives as well as Reform UK, Starmer told us he'll be judged at the end of that period on the issues that matter to working people. The Prime Minister's comments to Bloomberg come as the BBC reports around 50 Labour MPs have signed a letter objecting to the decision blocking Manchester Mayor Andy Burnham for standing for Parliament.
In London, I'm Ewan Potts, Bloomberg Radio.
The European Union and India have agreed a trade deal after nearly two decades of negotiations. European Commission President Ursula von der Leyen said they've concluded the mother of all deals, creating a free trade zone of two billion people.
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Chapter 3: What opportunities does Starmer see for British businesses in China?
Indian Prime Minister Narendra Modi described the agreement as significant, with tariffs on most consumer and industrial goods to be lowered. The announcement comes just days after the EU signed a separate trade deal with the Mercosur bloc of South American countries. as it seeks to pivot away from the US and China.
The pact is expected to be formally signed after legal vetting and ratification by the European Parliament.
The US president has threatened to raise tariffs on South Korean goods to 25%. In a social media post, Donald Trump said the country's lawmakers had not lived up to the deal that they agreed to and with the new rate applying to autos, lumber, pharmaceutical and other products. With more, here's Bloomberg's White House correspondent, Josh Wingrove.
He's essentially ripping up, or at least for now, the deal and saying that's because the Koreans are slow walking it.
Chapter 4: How does Starmer plan to navigate UK-US relations during his trip to China?
I should note that there were a lot of question marks, including from what the American position was about this deal. And so this is another case for countries that are looking at this, including the EU and the UK that had their deals and then saw the Greenland tariff threat come in. The Trump's deals aren't necessarily locked in.
Bloomberg's Josh Wingrove speaking there as South Korea's government said that it hasn't yet received any formal notification or detailed explanation from the US regarding Trump's post on Truth Social.
Gold is holding above $5,000 an ounce as a weak US dollar helps to extend a blistering rally fuelled by geopolitical risks and investor flight from sovereign bonds and currencies. Bullion jumped again today to record its seventh straight day of gains as a key measure of the dollar sank amid speculation the US may help Japan to support the yen.
Meanwhile, Europe's largest money manager, Amundi, says America's increasing isolation is convincing many investors to cut holdings of dollar assets and switch to gold.
President Trump's U.S. Border Patrol commander is expected to leave Minneapolis today following a public outcry over the killing of two U.S. citizens by federal agents. Gregory Bovino has been the face of a sweeping U.S. immigration crackdown. White House Press Secretary Caroline Leavitt says the administration is sending border czar Tom Homan to the city to ease tensions.
Mr. Holman is doing an exceptional job, and he has been working with Secretary Noem and President Trump over the course of the last year.
Secretary Noem still has the utmost confidence and trust of the President of the United States, and she's continuing to oversee the entire Department of Homeland Security and all of the immigration enforcement that's taking place across the whole entire country.
Caroline Levitt there praising Homan, who is set to meet with the Minneapolis mayor, Jacob Frey, today to discuss coordination between federal and local law enforcement. Meanwhile, Senate Democrats are resisting approving funding for the Department of Homeland Security without new safeguards, increasing the likelihood of another U.S. government shutdown as a deadline on the 30th of January looms.
That's news when you want it with Bloomberg News Now. I'm Stephen Carroll.
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