25.05.09 WSJ

1. Macroeconomics

Title: U.S. and U.K. Unveil Framework for Trade Deal
Source: The Wall Street Journal
Date: May 8, 2025
Key Takeaways:

• President Trump and U.K. Prime Minister Keir Starmer announced an initial framework for a U.S.-U.K. trade agreement aimed at easing tensions from recent U.S. tariffs.
• The U.S. agreed to reduce tariffs on U.K. steel, aluminum, and cars in exchange for U.K. commitments to purchase Boeing jets, provide greater market access for American farmers, and cut tariffs on U.S. beef and ethanol.
• While not a comprehensive trade agreement, the deal allows Trump to showcase progress amid economic concerns and declining approval ratings.
• Economists view the agreement as symbolically significant but economically modest due to relatively low U.K.-U.S. trade volumes.
  Link: Read the article

---

2. M&A / Private Equity

Title: Carlyle Looks to Europe for Private-Credit Expansion
Source: The Wall Street Journal
Date: May 9, 2025
Key Takeaways:

• Carlyle Group is expanding its private-credit operations in Europe amid rising competition and saturation in the U.S. market.
• The firm sees increased opportunities in Europe due to more favorable lending terms and reduced liquidity options for corporate borrowers, attracting less competition.
• Carlyle's European private-credit deployment rose 150% year-over-year, driven by a strategy targeting affluent individual investors.
• Despite challenges like legal and linguistic complexities, Carlyle announced eight European private-credit deals in 2025, including a $531 million package for Italian diagnostics firm Bianalisi and $250 million for Norwegian brand owner Jordanes.
  Link: Read the article

---

3. Opinion (Columnist)

Title: How I Became Trump’s ‘Total Loser’
Author: Karl Rove
Source: The Wall Street Journal – Opinion
Date: May 7, 2025
Key Takeaways:

• Rove recounts how a Fox News segment criticizing tariff plans provoked Trump’s “total loser” tweet, underscoring the president’s personal-loyalty litmus test.
• He argues Trump’s trade doctrine is alienating traditional GOP allies and business donors, risking a fracture ahead of the 2026 midterms.
• Rove urges Republicans to press for pro-growth tax and regulatory fixes instead of conceding to blanket tariffs.
• The column warns that policymaking driven by social-media spats heightens market volatility and complicates capital-raising.
  Link: Read the article