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FT News Briefing

Trump’s $50bn tariff haul

FT News Briefing

Forhecz Topher

News, Unknown, News & Politics, Daily News

4.41.2K Ratings

🗓️ 21 July 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

Japan’s ruling coalition lost its majority in the country’s upper house of parliament, and the European Union is trying to break its dependency on American tech. Plus, the London Stock Exchange Group is weighing whether to launch 24-hour trading, and US President Donald Trump’s tariffs have raised nearly $50bn in extra customs revenues.


Mentioned in this podcast:

Japan’s Ishiba loses majority in election blow

Can Europe break free of American tech supremacy?

London Stock Exchange Group considers launch of 24-hour trading

Donald Trump reaps $50bn tariff haul as world ‘chickens out’


Today’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, Ethan Plotkin, and Marc Filippino. Additional help from Peter Barber and Alexander Higgins. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.


Read a transcript of this episode on FT.com


Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

For over 40 years, Equinoor has been an energy partner to the UK.

0:04.1

During that time, we've played our part in the switch from coal to gas,

0:07.1

and we're working hard to help the UK's energy transition.

0:10.2

We may not have all the answers yet, but we're determined to find them.

0:13.5

Equinor, an energy company, searching for better.

0:16.9

99.6% of Equinor's energy output is oil and gas.

0:20.5

Our investment in renewables and low carbon

0:22.4

solutions has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com.

0:29.2

UK.

0:33.5

Good morning from the Financial Times. Today is Monday, July 21st, and this is your FT News briefing.

0:41.3

Japan's ruling party suffered yet another electoral setback,

0:46.1

and Europe is looking for ways to boost its tech industry.

0:50.3

Plus, the U.S. is winning the trade war, at least for now.

0:55.0

Unilateralism is threatening the entire global trade system, and it's really unclear whether the rest of the system has the spine to stand up to it.

1:03.1

I'm Sonia Hudson, and here's the news you need to start your day.

1:18.7

Japan. Japan's ruling coalition had a tough election day yesterday.

1:26.7

The Liberal Democratic Party and its smaller coalition partner lost their combined majority in the country's upper house of parliament.

1:28.4

The election was largely dominated by cost of living concerns. Japanese voters have been dissatisfied with the LDP for a while now.

1:35.6

Last October, the party lost its majority in Japan's lower house for the first time since 2009.

1:54.6

European leaders are worried about their country's dependence on U.S. technology infrastructure,

1:59.3

and it's something they're hoping to change with a boost to EU-based companies.

2:02.8

The Block's new Tech Commissioner has set tech sovereignty as one of her goals. Barbara Moons is the FTs' EU correspondent in Brussels. She's

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