Leverage in the U.S. & China, Affirm CEO Max Levchin 5/9/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 9 May 2025

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the latest global trade war development, India could be ready for a trade deal with the U.S. Ahead of the trade negotiations between the U.S. and China this weekend, CNBC contributor Michelle Caruso-Cabrera discusses the leverage of each nation and her observations on her recent trip to China with the Brookings Institution. In Washington, Emily Wilkins reports on the GOP’s tax package, including President Trump’s idea to raise taxes on top earners. Plus, shares of buy now, pay later platform Affirm fell after the company reported a beat on quarterly earnings but a disappointing revenue forecast. CEO and PayPal co-founder Max Levchin discusses the state of consumer spending, the rate of loan repayment delinquencies, and the evolution of payments. Emily Wilkins - 07:19 Max Levchin - 16:10 Michelle Caruso-Cabrera - 27:18 In this episode: Michelle Caruso-Cabrera, @MCaruso_Cabrera Max Levchin, @mlevchin Becky Quick, @BeckyQuick 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, a trade deal with the UK, a potential trade deal with India,
0:15.3	and trade talks with China starting this weekend in Switzerland.
0:20.1	Michelle Caruso-Cabrera fresh off her trip to China on the trade war de-escalation in progress.
0:26.6	I'm not predicting their collapse.
0:28.6	It's just when it comes to leverage, I think we have more.
0:31.6	They have an economy that has been reliant on investing in real estate and exports.
0:36.6	And by now pay later company, a firm, has a unique view of the consumer's pocketbook,
0:42.3	what CEO Max Levchen sees in the spending economy.
0:46.3	There is a real inconsistency in the vibe where people are stressed out about the economy,
0:50.3	yet they're shopping, they're buying, and they're paying their bills, at least
0:54.1	they're paying their bills back to us on time.
0:56.3	Plus, the Trump administration is considering raising taxes on top earners to pay for the
1:02.3	GOP tax package.
1:03.9	But Emily Wilkins reports it's complicated.
1:07.0	Previously they cast doubt on this idea.
1:09.8	They didn't think it was viable.
1:11.4	But right now, lawmakers really need to find revenue raisers.
1:15.4	It's Friday, May 9th, and SquawkPod begins right now.
1:20.5	Stand Becky by in three, two, one.
1:23.4	Fuel, please.
	...

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