EU Races to Secure US Trade Deal; Japanese PM Suffers Election Setback | Bloomberg Brief 7/21/2025

A top expert from the Boston Consulting Group, Nikolaus Lang, argues that AI regulation can't just be a national issue—it needs international cooperation. In a chat on Bloomberg Tech, he breaks down how global power dynamics are shaping the AI arms race, with countries jostling for control over rules and innovation.

Editor’s Note: This isn’t just about tech—it’s about who gets to call the shots in the AI era. If countries go solo on regulation, we could end up with a messy patchwork of rules that stifle progress or create security risks. Lang’s take hints at a bigger question: Can rival nations actually work together on this, or will AI become another battleground for geopolitical tension?

The US has struck a deal with the Philippines to impose a 19% tariff on the country’s exports, announced by former President Donald Trump following a meeting with Philippine leader Ferdinand Marcos Jr. Trump framed it as a win for the US, emphasizing the tariff and a pledge for military cooperation—though the details of how this will impact trade or diplomacy remain unclear.

Editor’s Note: Tariffs often mean higher costs for businesses and consumers, and this one could strain US-Philippines trade relations. The military cooperation angle adds another layer—it might signal deeper strategic ties, but the abrupt tone of the announcement (via social media, no less) leaves room for uncertainty. If you’re into global trade or geopolitics, keep an eye on how this plays out in real-world negotiations.

Netflix is dipping its toes into AI-generated video by partnering with Runway AI, a startup specializing in this tech. Disney’s also experimenting with Runway’s tools, signaling Hollywood’s growing interest—and caution—around AI’s role in content creation. Bloomberg’s report highlights both the potential efficiencies and the ethical debates brewing in the industry.

Editor’s Note: This isn’t just about flashy tech—it’s a tipping point for how movies and shows might get made. Studios see AI as a way to cut costs and speed up production, but creatives are wary of job losses and artistic dilution. With giants like Netflix and Disney onboard, the conversation’s shifting from if AI will reshape entertainment to how—and who gets left behind.

The Trump administration is continuing to push Federal Reserve Chair Jerome Powell to lower interest rates, while also scrutinizing costly renovations at the Fed. It’s part of an ongoing tension between the White House, which wants cheaper borrowing to boost the economy, and the traditionally independent Fed, which is wary of political pressure.

Editor’s Note: This isn’t just about interest rates—it’s about whether the Fed can stay independent when the White House keeps leaning on it. If Powell caves to pressure, it could shake confidence in the central bank’s ability to make unbiased decisions. And those renovation costs? They’re adding fuel to the fire, making the Fed an easier target for critics. For everyday folks, the outcome could mean cheaper loans—or, if the Fed resists, a White House ready to escalate the fight.

Donald Trump claims he’s set to receive an additional $20 million in ad revenue from CBS’s 60 Minutes, on top of the $16 million already agreed upon in a settlement. He announced the news on social media, though details about the deal remain unclear.

Editor’s Note: If true, this payout highlights the financial and legal entanglements between major networks and high-profile figures like Trump. It also raises questions about how media companies handle disputes—and whether these settlements are becoming just another cost of doing business in today’s polarized landscape.