China May Exempt Some US Goods From Tariffs as Costs Rise

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Bloomberg Intelligence hosted by Paul Sweeney and Alix Steel

Today’s Podcast Features are:

Shawn Donnan, Bloomberg News Senior Economics Writer, discusses the latest tariffs news. China’s government is considering suspending its 125% tariff on some US imports, pe ople familiar with the matter said, as the economic costs of the tit-for-tat trade war weigh heavily on certain industries. Authorities are considering removing the additional levies for medical equipment and some industrial chemicals like ethane, the people said, asking not to be identified discussing private deliberations.

Joanne Hsu, University of Michigan Surveys of Consumers Director, discusses Friday's UMich consumer sentiment data. US consumer sentiment fell to one of the lowest readings on record and long-term inflation expectations climbed to the highest since 1991 on fears of the economic fallout from tariffs.

Dan Ives, Global Head of Technology Research at Wedbush Securities, recaps tech earnings. Alphabet reported first-quarter revenue and profit that exceeded analysts' expectations, driven by strength in its search advertising business. Alphabet's cloud business, Google Cloud, brought in operating profit of $2.18 billion, beating analysts' estimates, and the company remains heavily invested in AI, boosting its spending on servers and data centers.

Anurag Rana, Bloomberg Intelligence Technology Analyst, discusses news that Apple is aiming to import most of the iPhones it sells in the US from India by the end of next year. The goal would require Apple to roughly double its annual iPhone output in India to more than 80 million units.

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