The EU’s trade plan for a potential second Trump term
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 30 July 2024
⏱️ 11 minutes
🧾️ Download transcript
Summary
Britain’s new finance minister blamed the previous Conservative government for a £22bn fiscal hole, and Venezuela’s President Nicolás Maduro is facing international pressure to back up his claim of winning re-election. Plus, the FT’s Andy Bounds explains the EU’s trade strategy to deal with a potential second Trump presidency.
Mentioned in this podcast:
Reeves announces ‘incredibly tough choices’ to plug £22bn fiscal hole
Pressure mounts on Venezuela’s Nicolás Maduro over contested presidential vote
EU prepares two-step trade plan to tackle Donald Trump
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Tuesday, July 30th, and this is your |
| 0:18.5 | F.T. News briefing. Britain's new finance minister revealed massive overspending by the previous government. |
| 0:27.7 | And pressure is building in Venezuela over a contested election result. Plus, the EU is bracing itself for another Donald Trump presidency |
| 0:37.5 | and the huge tariffs he's threatened. |
| 0:40.5 | It could slow down the wheels of the global economy quite dramatically and probably the more open |
| 0:46.4 | Trading economies like the EU are the ones that will suffer the most |
| 0:50.5 | I'm Sonia Hudson and here's the news you need to start your day. The UK has a 22 billion pound hole in its public finances. That's what the new finance minister |
| 1:15.6 | Rachel Reeves announced yesterday. She called it unsustainable and blamed the |
| 1:20.6 | previous conservative government for causing it. |
| 1:23.7 | I'm joined now by the FT's political editor George Parker. |
| 1:27.1 | Hey George. |
| 1:28.1 | Hi there. |
| 1:29.9 | Did we have a sense of how bad things were before yesterday or is this new |
| 1:34.9 | information that we're getting? Well Rachel Reeves claims this is new |
| 1:38.5 | information that she only discovered on walking into the Treasury on the 5th of July. |
| 1:43.5 | She says that a previous conservative government concealed |
| 1:47.8 | growing pressures on the public finances that she can possibly have known about |
| 1:52.0 | in opposition to give you an example, |
| 1:54.4 | a 6.4 billion pound overspend on Britain's shambolic asylum system. |
| 1:59.7 | Do you remember this is the policy where Britain was going to send people to Rwanda but never did |
... |
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