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Trump Cuts India Tariffs in Russian Oil Deal & Musk's SpaceX-xAI Combine | Daybreak Europe 2/3/2026

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. On today's show, Indian shares and the rupee rallied after the US reduced tariffs on Indian goods to 18%. President Trump says the US will reduce the tariffs after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil. Bloomberg understands that Elon Musk is merging SpaceX with xAI in an all-stock deal valuing the new company at $1.25 trillion, bringing together two of the largest closely held companies in the world. SpaceX is still planning to do an IPO later this year. Bill and Hillary Clinton agreed to testify in the congressional investigation into Jeffrey Epstein, averting a potential criminal contempt vote. Today's guests: Bank of America UK economist Sonali Punhani & BYD Executive Vice President Stella Li (Source: Bloomberg)