Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Friday morning. Welcome to Squawk on the Street. I'm David Faber. That man is Jim Kramer.

We're live from Post 9 at the New York Stock Exchange. Carl has the morning off.

What a morning it is, man. Talk about a summer Friday. We've got so much news here. And, of course, we have a market that is looking

at a lower open when we get started with trading a half hour from now. Let's get to our roadmap

this morning. President Trump unveils sweeping new tariffs on a number of global trading partners,

including, of course, Canada. Their rate goes up as well. Apple posts the biggest revenue

growth in more than three years, but there are tariff concerns as well there that temper investor enthusiasm. As for Amazon shares, they're down.

Loomy Outlook overshadows what was a strong quarter.

And if all that's not enough for us to try to cover, how about investors digesting a job report

that came in well below expectations with revisions in June significantly lower than the original

number?

Let's start with the president, imposing tariffs on dozens of countries, including Canada.

It's now at 35 percent. It had been at at 25%. Of course, that's only goods that are not covered under the U.S.-Mexico-Canada trade agreement, Jim. But we came into the session with that perhaps weighing on the futures a bit. You know, we're looking like we're down 1%. Then we also get the employment number. So let's go through trade. Let's move on to jobs. Then we will get to the bigger earnings. Well, look, I think trade continues to shock people that the president takes any action, and then they're not shocked. So they'll look at it over the weekend, and then they'll come and they'll say, you know, it's really not that big a deal. It really doesn't matter. So that's my take on that. I think that this employment number

does matter because it confirms that either the president knew or these two dissenters knew. That's what

people are going to say, a little conspiratorial. But it's going to, I saw Mr. Ferguson talk about

how you've got to wait and see. I don't think the president is really in that wait and see game. He did seem to

almost be calling for a coup in the fit. I'm not sure we've gotten a posting yet on his

truth social network that he uses to communicate. I think Andrew or Joe said something earlier, and I'm sure that will be

confirmed in the sense of I'm sure we'll get something coming after the Fed chair yet again.

But before we get to the heart of the jobs number and what it's doing to rates and what it means,

any other thoughts on sort of these tariffs? I mean, again, Mexico gets the 90 days reprieve.

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