Trump mulls slashing China tariffs

President Trump is reportedly mulling slashing tariffs on Chinese imports, but Treasury Secretary Scott Bessent said that the country won’t act unilaterally. In Europe, the Kering crisis continues, as Gucci first quarter sales slide by 25%. Meanwhile, Adidas bounces back, posting its strongest start to a year following the company’s turnaround plans. BNP Paribas posted a first quarter beat and confirms its guidance, with CFO Lars Machenil telling CNBC that the French lender is outperforming on all key units. And there’s more bad news for Tesla as its EU car registrations almost halve in the first quarter, while China’s SAIC surge.

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