US and Iran Clash Near Hormuz, Trump Tariff Challenge, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
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On Apple, Spotify, YouTube or wherever you get your podcasts. Alexis, tensions are building once again between the U.S. and Iran as the world waits for Iran's response to a U.S. peace offer. Overnight, the U.S. attacked missile and drone launch sites inside Iran that it says were used to attack three U.S. warships in the Strait of Hormuz. It's after Iran accused the U.S. of targeting two of its oil tankers in striking civilian areas along its southern coast and Kashim Island. But President Trump says the ceasefire is still intact.
They trifled with us today. We blew them away. They trifled. I call that a trifle. I'll let you know when there's no cease. You won't have to know.
President Trump's threatening to hit Iran even harder if it doesn't reach a deal. We get more from Bloomberg's Jumana Bersetchi in Dubai.
There is a strong push from the U.S. side to get a deal across the line, but we are still in this period where we're waiting to hear back from the Iranians officially about the 14-point, one-page proposal that the U.S. has put forward. As you were reporting earlier in the week, some of the demands that the U.S. have put on that paper are deemed to be quite maximalist from Iran's standpoint. So it is unclear at this point whether there can be some form of a compromise and indeed whether you can get to a compromise over a 30-day period.
Bloomberg's Jumana Bersetchi reports Iran is still expected to respond to the U.S. offer through Pakistani mediators in the next two days. President Trump is moving ahead with plans to hold a summit with his Chinese counterpart, Xi Jinping, next week in Beijing. And he's bringing some big-name guests along with him. Bloomberg's Tom Busby reports from New York.
The president bringing a who's who of American business leaders for next week's summit in China. despite there being no resolution to the U.S. war against Iran. Now, among those planning to attend, Blackstone CEO Steve Schwarzman, Citigroup CEO Jane Frazier, with Semaphore reporting that the administration also plans to invite Kelly Ortberg of Boeing, Jensen Wang of NVIDIA, and others. Trump and Xi slated for a sit-down meeting May 14th and 15th. That summit has already been postponed once due to the war. Tom Busby. Bloomberg Radio.
Tom, thanks. Let's turn to politics in the UK now. The Labour government is taking heavy losses as the first wave of local election results comes in. For more, let's go to London and get the latest with Bloomberg's James Woolcock. Good morning, James. Nathan, Alexis, Prime Minister Keir Starmer says the results are very tough, there's no sugarcoating it, and that he takes responsibility for the losses. We're still waiting on the majority of results, but the early signs are it is a disastrous election for the governing Labour Party. The right-wing Populist Reform UK Party are set to pick up hundreds of seats already. They've taken control of two councils in elections in England. And as we wait for the rest of the day, we are still waiting on Wales and Scotland elections too, where Labour are also set to perform very poorly.
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