The Tariff Two-Step: Bessent on a Trade War 4/8/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 8 April 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Treasury Secretary Scott Bessent calls China’s tariff escalation a “big mistake,” adding that he expects the U.S. to be able to reach deals with its trading partners. On the other hand, Kentucky Senator Rand Paul says while he supports President Donald Trump, he does not support tariffs, emphasizing that every trade relationship is mutually beneficial. Plus, Apple is reportedly planning to source more iPhones from India after Trump’s China tariffs, and Shopify CEO Tobi Lutke told employees that they’ll have to show their jobs can’t be done by artificial intelligence before asking for more headcount and resources. Sec. Scott Bessent - 16:39 Sen. Rand Paul - 34:52 In this episode: Scott Bessent, @SecScottBessent Rand Paul, @SenRandPaul Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @cameroncostany

Transcript

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0:00.0	Bring in show music, please.
0:03.0	This is Squawk Pod, and I'm CNBC producer Cameron Costa.
0:08.0	On today's episode, Tariffs as a starting point.
0:13.0	Do these begin conversations, or is that just the market's wishful thinking?
0:18.0	Their opening bid could be much higher than it would have normally been.
0:21.0	An anchoring technique.
0:22.4	Treasury Secretary Scott Besant says we're at the start.
0:27.4	President Trump has maximum negotiating leverage right here, right now.
0:33.0	And from the White House North Lawn, Secretary Besson, argues, we're in a good spot.
0:37.7	The response was overwhelming.
0:39.2	He decided that it would be a good time to begin negotiating.
0:44.2	Plus, how the president's party is reacting to his trade agenda with Kentucky Republican
0:49.1	Senator Rand Paul.
0:51.3	It's based on a fallacy, and the fallacy is this, that somehow in a trade someone must lose.
0:59.0	Those big interviews, plus Shopify tells employees, do it with AI.
1:04.0	And Apple is tweaking its supply chain.
1:07.6	It's Tuesday, April 8th, 2025, and Squawk Pod begins right now.
1:13.6	Stand Becky by in three, two, one.
1:16.6	Cuea, please.
1:18.6	I know.
1:19.6	All right, good morning, everybody.
1:20.6	Welcome to Squawk Box right here on CNBC.
	...

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