Tariffs on the EU & Consumer Tastes 5/27/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 27 May 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

After a whiplash weekend of trade news, the U.S. will institute a 50% tariff on goods from the EU, starting in July. National Economic Council Director Kevin Hassett discusses the goals for ongoing negotiations and offers a hint at new trade deals coming soon. Ray Washburne sits on the boards of Sunoco and Red Lobster, and he’s invested in luxury retail centers, offices, and restaurants. Based on his exposure to the American consumer, Washburne warns about consumer debt and suggests watching diesel as a barometer for U.S. economic and consumer health. Plus, Disney’s live-action remake of “Lilo and Stitch” led the box office over the long weekend, Japan’s long-dated bond yields have fallen, and Elon Musk will now be “super focused” on X, xAI, and Tesla. Ray Washburne - 14:20 Kevin Hassett - 31:37 In this episode: Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk 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	Busy long weekend at the White House, two tariff announcements for Europe, which netted out at a 50% levy come July 9th.
0:16.0	National Economic Council Director Kevin Hassett on deal progress around the world.
0:21.4	Across all the countries, I expect, we'll probably see a few more deals even this week.
0:25.5	There's some stuff very close to finish.
0:27.9	And what's really going on inside our economy?
0:31.3	Investor Ray Washburn's businesses are varied.
0:33.9	He's on the boards of Sonoco and Red Lobster.
0:36.6	He's watching consumers across their
0:38.4	wallets. Credit card debt, consumer debt is a big worry. I mean, it's at an all-time high.
0:44.4	Plus, the rest of today's news that got us squawking, a record holiday weekend at the box office,
0:49.3	President Trump's fight with Harvard takes a turn, and the tariff up and down and up and down changes Wall Street
0:55.9	are watching.
0:56.7	It's on a 24-hour basis that something can change.
1:00.3	I do find myself getting to the point where I don't take anything quite as seriously.
1:05.3	It's Tuesday, May 27th. Squawk Pod begins right now.
1:10.2	Stand Becky by in three, two, one.
1:13.1	Cure, please.
1:15.2	Good morning, everybody.
1:16.6	Welcome to Squackbox right here on CNBC.
	...

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