Tariff Tolls: Price “Disturbance” & Friction for the NHL 3/5/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 5 March 2025

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Wednesday marks day two of President Trump’s 25% levies on Mexico and Canada. In his joint address to Congress, the President warned about “a little disturbance” as American industries and neighbors digest his administration’s tariffs. CNBC’s Eamon Javers reports on the rest of the news out of Tuesday’s address, and Phil LeBeau reports that the administration may consider a delay on tariffs for autos. Former US Ambassador to Canada Bruce Heyman explains the toll tariffs may take on the longstanding relationship between neighbors, including social and economic ties. The friction between the U.S. and Canada extends to the ice; National Hockey League Commissioner Gary Bettman discusses the cross border relationships in sport and in finance. Eamon Javers - 9:48 Bruce Heyman - 19:32 Gary Bettman - 29:12 Phil LeBeau - 37:12 In this episode: Phil LeBeau, @Lebeaucarnews Eamon Javers, @EamonJavers Robert Frank, @robtfrank Michael Santoli, @michaelsantoli Becky Quick, @BeckyQuick 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	Trump's tariff plans become reality and reaction is stark.
0:13.0	From Wall Street to the president's first joint address to Congress.
0:17.0	Tariffs are about making America rich again and making America great again, and it's
0:22.4	happening, and it will happen rather quickly. There'll be a little disturbance. To international
0:27.7	borders. There are no winners in a trade war. Former U.S. ambassador to Canada, Bruce Heyman,
0:34.7	joins us on this rough patch for diplomacy. For the United States, the very top of our list in terms of best friends in the world is Canada.
0:42.3	And National Hockey League Commissioner Gary Betman on the slippery stakes.
0:47.3	Canadians love the United States and love Americans, but there's a policy issue that's going on and it's unfortunate.
1:00.5	Plus, the markets and many American industries real on the fears of a large-scale trade war.
1:03.7	Robert Frank and Mike Santoli are in with Becky Quick today.
1:08.2	All three major averages now below where they were when President Trump took office in January.
1:11.4	In fact, the S&P is a few points below the election day closed.
1:19.6	All that coming up and much more. It's Wednesday, March 5th, 2025. SquawkPod begins right now.
1:23.1	Stand by and three, two, one. Fuel, please.
1:30.3	Good morning and welcome to Squawk Box here on CNBC, live from the NASDAQ market site in Times Square.
1:33.1	I'm Mike Santoli, along with Becky Quick and Robert Frank.
1:35.0	Joe and Andrew are off today.
1:38.9	Yesterday, an extremely choppy, erratic day of trading.
1:46.0	The NASDAQ swung 3.4% from its highest level of the day to its lowest. It was a pretty big sell-off, then a very strong rebound. The S&P swung 2.3% over the session. Actually went green briefly
	...

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