A seductive idea is settling in that America is winning from Donald Trump’s trade war. But that thinking is deeply misguided. The game is not over. And it is one that America cannot win https://t.co/fAspByqvvm ...

Trade War Impacts - New tariffs imposed, including 35% on Canada and 50% on Brazil, a country responsible for nearly 40% of global coffee production [1] - Countries without trade deals may face reciprocal rates, potentially leading to further negotiations [2] - Some countries have tariffs of 10% to 25% [3] - Coffee drinkers engaged in panic buying when tariffs were initially announced [4] Economic Concerns - Potential warning signs for the US economy are emerging [6] - The US President dismissed weak jobs report data as rigged [6] Business Strategies - Businesses are considering passing tariff costs to consumers or sourcing beans from different, potentially more expensive, countries [3] - Businesses are working on a game plan [3] Price Increases - Tariffs are expected to increase prices of goods, including school supplies [4][5] - Prices are already high and expected to rise further if trade issues are not resolved [5]

Joining me now is Jared Bernstein, former chairman of the Council of Economic Adviserss and former chief economist and economic policy adviser to Vice President Joe Biden. Uh Jared, President Trump lashed out against the weak jobs market or jobs numbers, I should say, that were reported for July. He railed against the downward revisions from May and June.They were pretty significant. According to Axios, a top economic adviser to the president called the data quote very unreliable. Let's set aside for a mome ...

A seductive idea is settling in that America is winning from Donald Trump’s trade war. But that thinking is deeply misguided. The game is not over. And it is one that America cannot win https://t.co/LDx9EicS3d ...

About 2 minutes away from the end of the trading day. Matt Miller and Katie Greifeld here in for Romaine Bostick and Scarlet Fu. And here to help us take you through the closing bell, a global simulcast, we're joined now by Carol Massar and Tim Stenovec, bringing together our Bloomberg Television, Radio and YouTube audiences worldwide to parse through the most crucial moments of the trading day Carol.Doesn't anybody know it's ice cream day here at Bloomberg. We like like Fridays to be mellow and quiet. And ...

Financial Data and Key Metrics Changes - Fundraising in Q2 2025 was $1.3 billion, contributing to a total of approximately $4.5 billion for the first half of the year, which is 75% of the original $6 billion target for 2025 [6][14] - Fee-related earnings for Q2 2025 were $46.1 million, reflecting an 8% sequential and 17% year-over-year growth, while fee-earning AUM grew 6% sequentially and 20% year-over-year [6][29] - Total AUM reached $48.7 billion, with organic net inflows of over $600 million in Q2 2025 and $1.3 billion year-to-date [7][10] Business Line Data and Key Metrics Changes - Fee-earning AUM rose to $37.2 billion, marking a 20% year-over-year and 6% sequential increase [10][24] - The company reported a 34% year-over-year reduction in redemptions, indicating improved organic growth capabilities [11] - Infrastructure fundraising in 2025 was approximately three times greater than in all of 2024, driven by strong demand for Infrastructure Fund V [15] Market Data and Key Metrics Changes - Local investors accounted for approximately 55% of fundraising in 2025, indicating a strong preference for local investment opportunities [21] - The company noted a shift in investor interest towards Latin America as a destination for capital allocation, influenced by geopolitical uncertainties in the U.S. [54][20] - The Brazilian REIT acquisitions are expected to add approximately $600 million in fee-earning AUM, enhancing the company's market position [66] Company Strategy and Development Direction - The company aims to achieve a full-year fundraising target of $6.3 billion to $6.6 billion, reflecting a 5% to 10% increase from the original target [6][21] - The strategy includes leveraging acquisitions to enhance growth, as demonstrated by the recent acquisition of seven listed REITs in Brazil [12][66] - The focus on resilient sectors such as agribusiness, food and beverage, and healthcare is expected to drive positive underlying business trends [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2025 fee-related earnings target of $200 million to $225 million, with a strong start to the three-year plan [21][30] - The company is well-positioned to navigate global macroeconomic uncertainties, with a focus on local consumption markets rather than export markets [17][20] - Management highlighted the importance of organic growth and the ability to generate revenue independent of M&A and investment returns [7][11] Other Important Information - The company reported a net accrued performance fee balance of $394 million, reflecting a 7% increase from the previous quarter [8] - The effective tax rate for Q2 2025 was 8%, with expectations to hover around 10% annually [31] - A quarterly dividend of $0.15 per share was approved for 2025, indicating a commitment to returning value to shareholders [32] Q&A Session Summary Question: Expansion plans in Mexico - Management acknowledged Mexico as an attractive long-term market and discussed potential local partnerships in real estate and credit sectors [36][42] Question: Deployment pipeline in infrastructure - Management indicated a strong pipeline in infrastructure, particularly in Brazil and Colombia, with significant capital available for investment [44][45] Question: Clarification on fundraising guidance - Management clarified that the increased fundraising guidance excludes the recent REIT acquisitions, with interest coming from Asian, Middle Eastern, and local investors [50][52] Question: Timeline for REIT acquisitions consolidation - Management confirmed that the REIT acquisitions are already closed and will start contributing to results in Q3 2025 [66]

with Donald Trump that there's always been hyperbole, right. A a big issue for for anyone digesting his economic plans has been kind of listening to the sales pitch and then kind of matching it with reality and what we actually see and and consistently um you know what we see is is in kind of overpromising and kind of underdelivering uh on the economy. Donald Trump, who is a great American protectionist who believes in tariffs, who believes that if we put this tariff wall up around the United States, that t ...

Economic Analysis - Economists are utilizing modern tools and revisiting older economic theories to understand the current trade war [1] - The work of Albert Hirschman is being revived in the context of today's trade war [1]

Trade Policy & Deadlines - The US is approaching an August 1st deadline for imposing reciprocal tariffs on nations without trade agreements [1] - Multiple trade deals have been made leading up to the August 1st deadline, including deals in Southeast Asia and with the European Union [2][3] - A deal with India seems unlikely, with potential for a 25% reciprocal tariff [3] - The August 1st deadline is firm and will not be extended [4] China Trade Relations - Tariffs on goods from China currently range from 50% to 55%, depending on the product [5] - The deadline for Chinese tariffs is August 12th, with potential for extension by 90 days [5][6] - If no agreement is reached and the deadline isn't extended, tariffs on China could increase from 50-55% to 80-85% [6] - US and Chinese delegations are in meetings to avoid escalating the trade war [6][7] Overall Impact - US tariffs are expected to be significantly higher than when the Trump administration took office [8] - The US is becoming a more protectionist economy [9]

The GDP grew at an annual rate of 3% in the second quarter after falling in the first, a swing economists attributed to President Donald Trump's wide-ranging trade war. https://t.co/wQVVpbm5dj ...