UK cars, planes get U.S. break
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 30 June 2025
⏱️ 5 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Show links:
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Today is Monday, June 30th, the final trading day in the month of June and the first trading day in a holiday shortened week. |
| 0:15.8 | I'm Julie Morgan. Tariffs drop for UK exports. China rolls out an obesity drug challenger and the CEO of Tesla |
| 0:23.9 | sounds off again on the Big Beautiful bill. The UK-US trade deal takes effect today, slashing U.S. |
| 0:32.2 | tariffs for the UK's automotive and aerospace sectors. UK car manufacturers can now export to the U.S. under a reduced 10% tariff quota. |
| 0:42.3 | The U.K. aerospace sector also gains a major boost, with 10% tariffs on goods like engines |
| 0:48.3 | and aircraft parts removed today and a commitment to maintain them at 0 percent. The UK is the only country to have |
| 0:56.3 | secured this deal with the U.S., reducing car export tariffs from 27 and a half percent to 10 percent. |
| 1:03.0 | However, pending issues remain on steel and aluminum. While U.K. steel exports are currently exempt |
| 1:09.8 | from the U.S.'s 50 percent tariffs, this reprieve expires on July 9th, after which the duties could be reinstated unless they make another deal. |
| 1:20.8 | Novo Nordisk and Eli Lilly have some competition. The global leaders and obesity medications are now facing their first major competitor in China. |
| 1:30.3 | In-Ovent Biologics gained regulatory approval last week for its obesity treatment, |
| 1:35.3 | Mazdutide, a significant milestone in China's push to tackle rising obesity and diabetes rates through homegrown innovation. |
| 1:43.3 | In an event first licensed Mazdutide from Lilly in 2019 when the drug was in mid-stage testing. |
| 1:50.9 | The Chinese company ran large clinical trials suggesting that in local patients, it appeared |
| 1:56.0 | just as effective as Lily Zepbound in helping patients lose weight. |
| 2:01.8 | Tesla CEO Elon Musk sharply criticized the latest version of President Trump's tax and spending proposal, |
| 2:08.7 | calling it utterly insane and destructive. |
| 2:12.1 | These words come just weeks after the two appear to reconcile following earlier disagreements over the legislation. |
| 2:18.8 | The billionaire took to his social media platform X on Saturday to voice his concerns, saying |
| 2:24.5 | this bill will destroy millions of American jobs and inflicts significant long-term harm on the country. |
| 2:31.0 | He argued that the proposed legislation favors outdated industries while undermining |
... |
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