EU $100 Billion No-Trade Deal Plan, Musk: ‘Rough Quarters’ Ahead for Tesla | The Opening Trade 07/24

European Union plans to quickly hit the US with 30% tariffs on some $117 billion worth of goods in the event of no deal and if US President Donald Trump carries through with his threat to impose that rate on most of the bloc’s exports after Aug. 1.

Tesla will be in a transition period for the next year or more, losing electric vehicle incentives in the US and needing time to roll out autonomous vehicles, the chief executive officer said. “We probably could have a few rough quarters,” Elon Musk said. “But once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla’s economics are not very compelling.”

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Guy Johnson.

Chapters:
00:02:23 – Lloyds Beats Estimates
00:04:41 – Roche Beats Estimates
00:06:54 – Alphabet, Google, Needs More AI
00:08:57 – Trump Tariffs Range: 15-50%
00:10:39 – China’s Xi to Meet EU Chiefs
00:12:08 – BNP Paribas CFO Lars Machenil
00:20:10 – Gaza Crises, Starvation Spreads
00:20:29 – Trump Signs AI Executive Orders
00:22:02 – ECB Rates
00:26:29 – RELX CEO Nick Luff
00:35:37 – Roche CEO Thomas Shinecker
00:47:48 – Stocks to Watch: Bank Stocks, Nestle, Roche
00:51:48 – UBS CIO France Claudia Panseri
01:05:02 – Deutsche Bank Stock Soars
01:06:29 – Deutsche Bank CFO von Moltke
01:12:48 – German Manufacturing PMI Rises
01:14:16 – Tom Hayes on LIBOR Scandal Decision
01:26:03 – Lloyds Banking Group CEO
01:34:47 – ECB Expected to Pause Rates
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