Blizzards & Tariffs Hit Washington 2/23/26

Squawk Pod

CNBC

Business News, Business, Investing, News

4.2 • 543 Ratings

🗓️ 23 February 2026

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

As a major blizzard blankets much of the East Coast, the bigger storm is in Washington. After the Supreme Court of the United States struck down President Donald Trump’s global tariff policy, the President responded with a new 15% tariff on all imports, putting U.S. trade deals and the broader global order in question. CNBC’s Steve Liesman explains the ruling and what comes next. Yale Law School professor and former Biden Treasury official Natasha Sarin debates former Trump economic advisor Stephen Moore on the economic impact and outlook of more tariffs. Then, Washington State Senator Jamie Pedersen discusses his proposal to raise the income tax on millionaires and its likelihood to encourage executives to leave the state. Plus, President Trump urges Netflix to remove board member and former Biden policy chief Susan Rice. Steve Liesman - 19:04 Stephen Moore and Natasha Sarin - 32:57 Jamie Pedersen - 46:23 In this episode: Natasha Sarin, @NatashaRSarin Stephen Moore, @StephenMoore Steve Liesman, @SteveLiesman Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:05.0	This is Squawk Pod and I'm CNBC producer, Cameron Costa.
0:09.0	On today's episode, Wall Street is digesting the Supreme Court decision to overturn President Trump's tariffs.
0:17.0	I think it could actually really stymie investment. That is the fundamental question.
0:22.1	How the changing rules have affected businesses so far with Steve Leesman.
0:27.2	You must be out of your mind to follow the rules here because it is so complicated, so complex,
0:33.8	so changing every day. And this is antithetical to the administration's own central initiative
0:40.8	of deregulation and being pro and business friendly.
0:45.6	And to all the companies who did follow those ever-changing rules,
0:50.0	what happens now?
0:51.4	Trump's former economic advisor, Stephen Moore.
0:54.8	If the terrorists were illegally imposed, then do these companies get their money back?
1:00.4	And if so, we're talking about $175 billion that would have to be returned.
1:07.1	And Yale's Natasha Sarin on America's current economic standing.
1:11.6	This is a moment of great uncertainty and volatility, not just for consumers, not just for businesses, but also for our trading partners and for adversaries.
1:20.6	Then in Washington State, State Senator Jamie Peterson has sponsored a millionaire's tax. This is not a tax on intangible property, the so-called wealth tax that we're considering last year.
1:35.3	This is an income tax on very wealthy people.
1:40.3	Plus, a winter storm blankets the East Coast, again, and President Trump is calling for the removal of a Netflix board member, Susan Rice.
1:51.2	It's Monday, February 23rd. A chalk-full squawk pod begins right now.
1:58.9	Stand and under by in three, two, one.
2:02.1	Q Andrew.
2:04.3	Good morning and welcome to Squackbox right here on CNBC.
	...

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