GM CEO Mary Barra & NEC Director Kevin Hassett on China Trade 5/1/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 1 May 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

China has acknowledged that the Trump administration has reached out to negotiate tariffs, potentially signalling openness to a deal. CNBC’s Eunice Yoon in Beijing discusses the latest developments, and warns that Chinese people and businesses believe they can weather a trade war storm. On the White House North Lawn, National Economic Council Director Kevin Hassett discusses the state of the U.S.-China trade negotiations along with President Trump’s tariff policy. CNBC’s Phil LeBeau and General Motors chair and CEO Mary Barra discuss the company’s new 2025 guidance, the impact of President Trump’s auto tariffs and bringing auto manufacturing back to the U.S. Plus, Tesla has denied a Wall Street Journal report that its board was searching for a replacement for chief executive Elon Musk. In this episode: Kevin Hassett - 18:05 Mary Barra - 34:45 In this episode: Eunice Yoon, @onlyyoontv Mary Barra, @mtbarra Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:04.3	This is Squawk Pod, and I'm CNBC producer Cameron Costa.
0:08.6	On today's episode,
0:10.1	A small shift from China on trade,
0:13.4	the CCP state media reporting that President Trump's team
0:16.6	has indeed reached out to discuss tariffs,
0:19.4	and it could be a signal of openness.
0:22.0	But CNBC Beijing Bureau Chief Eunice Yunn says China is probably able to weather a tougher
0:28.2	trade environment than the U.S.
0:30.4	They say that Chinese people can eat bitterness really, really well.
0:34.3	What National Economic Director Kevin Hassett has to say about trade.
0:38.3	Last week, China pulled back a bunch of tariffs on U.S. products, perhaps at a show of good faith.
0:44.3	So I'm hopeful.
0:46.3	And how that policy affects U.S. companies, like General Motors, led by CEO Mary Barra.
0:53.3	When we look at the auto industry, it's been decades of not having a level plane filled
0:57.3	around the world.
0:58.3	But we are making a commitment that we are going to bring more production back to this country
1:02.8	to build on what we already have.
1:04.7	Plus, a report that the Tesla board is in the market for a new CEO.
1:10.6	Nobody's getting rid of Elon Musk because they don't like him.
1:13.6	That's not what's happening.
1:14.6	If it's happening at all.
	...

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