CNBC Daily Open: European international locations and firms reposition themselves based on Trump price lists

French President Emmanuel Macron visiting Vietnam and Swedish automaker Volvo Cars shedding staff would possibly now not seem to have a lot in commonplace.

But they’re, on some stage, strategic maneuvers based on U.S. President Donald Trump’s deployment of 50% price lists at the European Union, which he later behind schedule.

Macron sealed a maintain Vietnam for the Asian nation to shop for 20 jets from European planemaker Airbus, development on an previous settlement for the same amount.

And Volvo Cars’ layoffs mirrored rising force at the corporate to chop prices. The Swedish automaker has already pulled a China-made automotive totally out of the U.S. markets as a result of Trump’s price lists on Beijing. The corporate, which is owned by way of China’s Geely Holding, additionally withdrew its monetary steerage for each 2025 and 2026, mentioning tariff force at the automobile sector.

Hence, whilst there is also sighs of aid in Brussels for now, Trump’s tariff bluster will proceed to roil the worldwide economic system and investor self assurance.

Hong-Kong indexed bubble tea stocks pop
U.S. futures jumped Monday night time stateside on Trump’s prolong of 50% price lists at the European Union. Markets have been closed Monday for the Memorial Day vacation. Asia-Pacific markets most commonly traded down Tuesday. Hong Kong’s Hang Seng Index dipped 0.05% at 2 p.m. Singapore time. Hong Kong-listed stocks of Chinese bubble tea corporations popped, with Mixue jumped 8%, Guming rose 6.3% and Nayuki climbed 5.5%.

Rocky trail forward regardless of EU tariff prolong
Investors cheered Trump’s prolong of price lists at the EU, riding U.S. futures and European markets upper. However, analysts are caution to not let optimism run unchecked. Berenberg Chief Economist Holger Schmieding instructed CNBC that despite the fact that a deal was once struck to scale back import tasks from the EU to 20% or 30%, “the EU would have no choice” however to impose “significant countermeasures” in opposition to the United States.

Consecutive enlargement for China’s commercial income
China’s commercial income rose 3% in April, legitimate knowledge confirmed Tuesday, accelerating from 2.6% enlargement in March. That marks the second one directly month that income at main commercial companies have higher. The spice up in commercial companies’ income was once in large part owed to Beijing’s efforts at supporting the personal sector, offsetting a few of unfavorable affects from U.S. price lists at the nation.

Vietnam has the same opinion to shop for 20 Airbus jets
During French President Emmanuel Macron’s state seek advice from to Vietnam — the primary by way of a French president in nearly 10 years — the 2 nations signed an settlement to shop for 20 Airbus A330neo planes, vaccines from French pharmaceutical corporate Sanofi and cooperate on nuclear power, reported Reuters, mentioning a listing of paperwork it had observed.

Volvo pronounces layoffs
Sweden-based automaker Volvo Cars on Monday mentioned it will minimize round 3,000 jobs, most commonly office-based positions in Sweden, as a part of a big cost-cutting power. The transfer comes after the corporate, which is owned by way of China’s Geely Holding, introduced an 18 billion Swedish kronor ($1.89 billion) charge and money motion plan past due closing month.

[PRO] Buffett knowledge from shareholder assembly
Warren Buffett stepping down from his function as CEO of Berkshire Hathaway was once the largest information from the company’s annual assembly this 12 months. CNBC PRO’s Yun Li issues out different nuggets of knowledge from the Oracle of Omaha buyers would possibly have ignored from the assembly, starting from Buffett’s opinion on actual property to his investments in Japanese buying and selling corporations.

The ultra-rich are increasingly more parking their gold in Singapore as international dangers and Trump volatility mount

Not a long way from Singapore’s airport sits a six-story facility coated in onyx and fortified by way of tight safety. Tucked at the back of its metal doorways are gold and silver bars amounting to about $1.5 billion. Known as “The Reserve,” the garage facility options ratings of personal vaults and a towering garage chamber coated with hundreds of secure deposit containers achieving 3 tales top.

From the beginning of the 12 months to April, the valuable metals repository has won an 88% building up in orders to retailer gold and silver within the vault from the similar duration in 2024, mentioned its founder, Gregor Gregersen.

“The idea of putting physical metal in a safe jurisdiction like Singapore with parties they can trust is becoming a big trend nowadays,” he mentioned, including that 90% of the brand new orders are coming from outdoor of Singapore.