Shutdown Showdown & Michter’s Whiskey on EU Tariffs 12/20/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 20 December 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

A government shutdown looms this Friday, and Congress is scrambling to find a funding bill that both parties will approve. The rush comes after President-elect Trump (and Elon Musk) scrapped a bill, and then a short term bill backed by both Trump and Musk failed to pass on Thursday. Emily Wilkins reports from DC on plans for “plan C,” and Senator Markwayne Mullin (R-Oklahoma) discusses the likelihood of another funding fight after the holidays. Kentucky distiller Michter’s is bracing for the possibility of a 50% tariffs on exports to the EU. CEO Joe Magliocco explains the strain of tariffs on the whiskey business, as well as President-elect Trump’s overnight tariff threat to the European Union. Plus, there’s a new bipartisan push to extend the deadline to ban TikTok. Sen. Markwayne Mullin - 18:17 Emily Wilkins - 27:33 Joe Magliocco - 33:47 In this episode: Sen. Markwayne Mullin, @SenMullin Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:03.0	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Today on Squawk Pod.
0:09.0	Shut down day, or not?
0:12.0	The bill is not passed.
0:14.0	House Republicans with a midnight deadline and no plan B, or C, anger in the ranks on spending policy.
0:21.6	$110 billion unpaid for, because you never have any ounce of self-respect.
0:28.7	The world's richest man pressing his influence are Emily Wilkins with the latest.
0:33.6	It's just not clear what actually can appease House Republicans plus Trump, plus Elon Musk,
0:38.5	and of course, plus Democrats.
0:40.2	But maybe there's a way. Republican Senator Mark Wayne Mullen joins us.
0:45.2	I do think there's a path forward to avoid it for a set amount of weeks moving forward.
0:50.0	We'll have the fight again in January.
0:52.9	Turns out Senator Mullen was talking to House Speaker Mike Johnson.
0:57.1	We're expecting votes this morning, so you'll stay tuned. We've got a plan.
1:00.5	It's all coming together. Maybe.
1:03.8	Then American whiskey tariffed at 50%, the plan in Europe that would surge prices on U.S. spirits.
1:10.6	The CEO of Kentucky
1:12.2	Distillery, Mixtors, Joe Maglioco.
1:15.3	A lot of the industry wound up working with their local representatives in different countries
1:20.1	to absorb part or even all of the price increases.
1:23.7	And the rest of today's news that got us squawking from the changes at DJT Media to the TikTok ban of 2025.
	...

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