The President Donald J. Trump Interview 8/5/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 5 August 2025

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

President Trump dials into Squawk Box for an extended conversation spanning the looming Fed Chair nominations, tariffs, and the U.S. economy. He confirms that Kevin Warsh, Kevin Hassett, and two others are in the running to lead the central bank after Jerome Powell’s departure, but Treasury Scott Bessent will stay in his current role. While many trade negotiations are still in progress, President Trump shares details on his talks with India, China, and Switzerland, and warns that pharmaceutical tariffs will take effect soon. Plus, the Wall Street Journal reported that the White House is preparing an executive order that could fine banks for dropping customers for “political reasons.” President Trump weighs in with complaints of his own, including at Bank of America. In this episode: President Trump, @realDonaldTrump Joe Kernen, @JoeSquawk 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 Swak Pod, President Donald Trump, a wide-ranging interview.
0:12.0	Firing the Labor Department's data commissioner after a disappointing jobs number.
0:17.0	When they say that nobody was involved, that it wasn't political, give me a break.
0:23.9	How he's remaking the American economy with tariffs.
0:27.9	On pharmaceuticals, we'll be putting an initially small tariff on pharmaceuticals.
0:33.6	But in one year, one and a half years maximum, it's going to go to 150 percent and then it's going to go to 250 percent.
0:42.5	The drawn-out public feud with the Federal Reserve Chair, Jay Powell.
0:47.3	Who would you replace him with?
0:48.8	I know you watch a show occasionally and we had an extended interview with one of the prospective replacements,
0:55.7	Kevin Warsh. Were you watching that day or?
0:58.0	I was. He's very good. He's very good. Sometimes they're all very good until you put them
1:03.4	in there and then they don't do so good.
1:05.4	And eyeing a replacement, even from his own team like National Economic Council Director
1:10.8	Kevin Hassett.
1:11.6	I say Kevin and Kevin. Both Kevins are very good.
1:14.6	You'll hear the full interview from the policy to the politics only right here.
1:20.6	I got the highest vote in the history of Texas, a record that they say won't be beaten unless I run again.
1:26.6	Are you going to run again?
1:28.1	The Constitution.
1:29.1	No, probably not.
	...

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