It's Jim Kramer here. You're listening to the opening bell of CBC squawk on the street. Don't miss a minute of the action. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanilla with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange. Global selloff now in motion as markets respond to this White House tariff announcement. S&P looks to revisit those September lows, and we're watching for

countermeasures, a possible three-handled this morning on the tenure. We'll see. Let's begin,

of course, with the global market sell-off a day after the president's announcement, calling

for a new 10% across-the-board levy on all imported goods, along with higher tariffs at varying

levels for about 60 countries.

Here is the President explaining his decision in the Rose Garden yesterday.

In the face of unrelenting economic warfare, the United States can no longer continue with a policy of unilateral economic surrender.

We cannot pay the deficits of Canada, Mexico, and so many other countries.

Jim, walk us through your mindset today.

Okay, well, I think that the market's going to, there's always money to go somewhere.

I think the money is going to go heavily to the American electric powers, the energies,

utilities, to the companies that have pricing power,

like a Proctor, J&J, and will flee the areas where it's so hard for companies to get out of areas.

And I'm looking at, so I don't want to be too pejorative here.

There's the luckless and the lucky.

And the luckless are companies that move from China to Vietnam, China to Thailand, China to other areas where they thought they're allowed to go to Mexico.

And the poster boy there is indeed Nike. I don't want to be so trite as to say Nike as we see it.

But David, there are some companies that are not in the crosshairs that are going down,

and there are some companies that are in the crosshairs are going up.

So we've got a lot of mistaken trading right now.

Mistaken trading?

Well, people are making a bet that it's like that Amazon is really hurt by this because of world trade. I mean, Amazon is pricing power. You want to figure out who has pricing power. They are winners. Right. Right. And I don't know. Does Nike have pricing power? I don't even know

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