Good morning from Geneva. European policymakers and business leaders have been confused for years about the correct response to economic competition in the United States and China. Last week, the answer became clear: Europe intends to return to corporateism, which means more aligning between business groups and governments.
At a meeting in Brussels last week, the President of the European Commission Ursula von der Leyen, was met with President of the European Commission Ursula von der Leyen by the World Economic Forum (I worked from 2014 to 2022). They held open discussions involving simplifying and delaying ESG rules, hitting clean energy under European independence, developing industrial AI strategies to compete with the United States, and creating a single regime for companies to operate across Europe.
It also agreed that exchanges between large enterprises and the European Commission will be repeated every six months, marking a turning point in the past.
“So far, every company needs to talk to the EU and member states,” Group IFG (IKEA) and one of the instigators of the meeting told me. “It takes a lot of time. So we agree to hold a biennial CEO meeting with Ursula and the Commission.”
The focus of these exchanges is clear: to improve the competitiveness of European multinationals, which have been sliding down in the global 500 list of wealth for more than a decade.
The ambition to simplify the Kafkask-style and multi-layered regulations in Europe was an element of a new corporate approach praised by corporate participants last week. “I don’t object to regulation.” sap,tell me. “But we can do better together. We should have a common working group to make sure we do it the right way.”
But the change in antitrust changes that changed competition and antitrust (which has been aggressive in European history) is another element that both sides now seem to agree with.
Stéphane Séjourné, executive vice president of the European Commission, is responsible for industrial strategy, “our strategy on antitrust has changed.” “Now, the Commission believes that our tech companies are related to international competition, not just internal competition in Europe.
But despite this, European unification is at the beginning, and many listening and education still need to achieve true consistency. Klein told me last week that his repeated news about the commission was to give up fetishes, such as the chips needed to compete with the United States on the “Thousand Factory” and the generative AI. “That train has left the station,” he told me. Instead, Europe should focus on industrial AI, he noted. “We have industry data. This train has not left the station yet.”– Peter Vanham
Top news
Tariff letters go out today
The White House will start sending tariff letters today. The President says. The letters will impose tariff levels on countries that have not yet reached an agreement with the Trump administration. Countries that have not yet reached a deal with the United States will see their tariffs return to the levels allocated in April. These levels (10% to 70%) will Begins on August 1.
But there is a new wrinkle: BRICS Country
“Any country that is consistent with the anti-US policies of the BRICS countries will be subject to a 10% tariff. This policy is no exception. Thank you for your attention to this matter!” Trump released last night.
Musk announces “American Party”
Tesla CEO Elon Musk Announce Over the weekend, the U.S. Party was founded to fight the country’s bipartisan system. This followed Openai CEO Sam Altman in a post on X that he announced that he was “homeless” and endorsed “Techno-Capitalism”.
Of course, Trump exploded the idea
“It’s hard for me to see Elon Musk completely ‘off the track’, and over the past five weeks, basically becoming a train wreck. Although they’ve never had success in the United States, he even wanted to start a third party.” The president said on social media. Finance Minister Scott Bessent also.
BCG participates in the Gaza Riverira program
one Two parts investigation By ft In a series of documents produced by the Boston Consulting Group section, they imagined paying Gazans to leave the territory and rebuild it from scratch in Dubai style.
Internal Elliott management interest in HPE
Two months ago, the first report appeared on Elliott management Buy $1.5 billion stake in Hewlett Packard Enterprise. Source says wealth What Elliott wants is hidden.
How Crayola bypasses offshore
Decades ago, when other U.S. CEOs were moving offshore, Pete Ruggiero (now CEO of Crayola)Convinced The company has saved the company millions of dollars by doing so in most of its manufacturing industry in the U.S., Ruggiero told wealth He “sees writing on the upcoming wall”.
New Tiktok app to be launched for the United States
Tiktok is building a new version of the app for the U.S. market and ahead of its planned mandatory sales. Trump says he can talk This week about the fate of the app in China.
market
- S&P 500 Before publication, futures fell 0.43% this morning. this S&P 500 Index Friday closed up 0.83%, reaching a new all-time high with a score of 6,279.35. Bitcoin Over $109K. Nikkei 225 in Japan This morning it fell 0.56%. China’s CSI 300 Less than 0.43%. Stoxx Europe 600 It’s flat in early trading.
From the analyst
- Wedbush joins Elon Musk’s American Party: “It’s very simple to start delving deeper into politics and now trying to take over the establishment of the ring road is in the opposite direction that Tesla investors/shareholders want him to take during a critical period of the Tesla story. In the latest announcement, the worst is that,” Daniel Ives and others.
- UBS on Trump’s constant shift in tariff deadline: “U.S. President Trump intends to impose additional taxes on U.S. consumers starting Wednesday will be postponed until August 1. This means that some inventory is allowed before Christmas, and consumers may not impose inflation on those taxes until January next year, please indicate that Trump has retreated again, which is Paul Donovan.”
- Pantheon Macroeconomics in the Seat Market: “Private pre-wage payments and healthcare grew by just 23k in June; the revisions will show a weaker situation. The intention to hire remains frustrating; new tax breaks are unlikely to offset tariff costs and uncertainty. The decline in unemployment looks like noise, wages increase; wages increase; pay;
Around the water cooler
Starbucks creates “future cafe” with comfortable chairs and sofas as CEO pushes for reimagining the store By Marco Quiroz-Gutierrez
Google’s brief effort offered key courses when Trump pushed Apple to make iPhones in the U.S. 12 years ago Will faithfully kopytoff
CEO Daily is edited and edited by Joey Abrams and Jim Edwards.
