David E. Rovella, Bloomberg News Journalist Profile

Articles

Europe Prepares Retaliation If US Trade Talks Fail

6 days ago | bloomberg.com | David E. Rovella

The European Union is working on a proposal to introduce restrictions on some exports to the US as a possible retaliatory tactic in the expansive trade war President Donald Trump initiated last month. The restrictions are said to be a potential deterrent to be used only if negotiations with the US fail to produce a satisfactory outcome. Trump has put new tariffs on around €380 billion ($432 billion) of EU goods.
Why Australia’s Miracle Economy Is Stalling

6 days ago | bloomberg.com | David E. Rovella

(Bloomberg) -- Australia has long been known for its prosperous economy, with many calling it “The Lucky Country.” But that luck may be running out. While the nation’s overall economy isn’t in recession, its people have been weathering a perfect storm of financial headwinds that do not bode well for its future. Australia’s gross domestic product-per capita fell for 21 months in a row and household disposable income is on the downslope.
The Flying Car Has Finally Arrived

1 week ago | bloomberg.com | David E. Rovella

The first generation of electrified personal aircraft, formally called Electric Vertical Take-Off and Landing Aircraft or eVTOLs, have already taken flight. Now the race is on to cash in on a market that could exceed a trillion dollars. (Bloomberg) -- The idea of a flying car wasn’t far behind the invention of the automobile. But for more than a century, the dream has remained largely science fiction, relegated to the imagination of visionary film directors.
Newsom Sues Trump Over His Trade War: Evening Briefing Americas

1 week ago | bloomberg.com | David E. Rovella

California Governor Gavin Newsom filed a lawsuit to halt President Donald Trump’s tariffs, as the fusillade of litigation challenging the 78-year-old Republican’s effort to consolidate power increasingly targets his biggest policy. The suit, like several before it, questions Trump’s use of emergency powers to justify a trade war that’s both thrown global commerce into chaos and seen as threatening the US and the world with recession.
Trump Tariff Retreats Followed by New Threats

1 week ago | bloomberg.com | David E. Rovella

The Trump administration over the weekend and again on Monday appeared to continue a piecemeal retreat from parts of its tariff war, all in the face of brutal market reaction, warnings from Wall Street chieftains, the risk of permanent damage to the US economy and now sinking poll numbers.
China Ups the Ante in Trump’s Trade War

1 week ago | bloomberg.com | David E. Rovella

Billed as so rock-solid safe they’re risk-free, US Treasury bonds have long been the first port of call for investors during times of panic. They rallied during the global financial crisis, on 9/11 and even when America’s own credit rating was cut. But this time may be different. As President Donald Trump unleashes an all-out assault on global trade, their status as the world’s safe haven is increasingly coming into question. They are trading, in other words, a little like a risky asset themselves.
Why Trump Unleashed Tariff Chaos

1 week ago | bloomberg.com | David E. Rovella

Illustration: Christian Capestany(Bloomberg) -- Stocks fell sharply again Thursday, erasing memories of a Wednesday dip-buying spree triggered by Donald Trump’s partial retreat on tariffs. The reason for a return to red?
The Risky Climate Weapon Whose Time May Have Arrived

2 weeks ago | bloomberg.com | David E. Rovella

Make Sunsets sends balloons into the atmosphere that disperse sulfur dioxide in an effort to reflect sunlight back into space, a technique also known as solar-radiation management. (Bloomberg) -- While the world below heaves with military conflict, trade wars and political tension, the atmosphere above quietly continues to get warmer.
Trump Blinks Amid Tariff Retaliation and Market Damage

2 weeks ago | bloomberg.com | David E. Rovella

Donald Trump appeared to blink in the face of global, domestic and perhaps most importantly Wall Street fury at his singlehanded destabilization of stock markets, bonds and even oil prices. The 78-year-old Republican, who has been saying all week he wouldn’t back down from his tariffs, backed down. He did so, coincidentally, just hours after his much-touted “reciprocal” levies went into effect and China retaliated by raising its tariff on US goods to 84%.
Trump Tariffs Crater Stocks Again as China Retaliates

2 weeks ago | bloomberg.com | David E. Rovella

A one-day faceplant across markets certainly sends a message as to what Wall Street thinks of Donald Trump’s strategizing on global trade. Two days in a row, however, where the second day is even worse than the first, may be more of a warning that permanent damage is being done. The S&P 500 saw its worst two-day plunge in more than five years in a tariff-induced rout that torched $5 trillion in value, with the gauge down a tooth-snapping 6% on Friday after having dropped almost 5% the day before.