Trade Spotlight: U.S Forges Deal Framework With EU, Begins New Talks With China 7/28/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 28 July 2025

⏱️ 49 minutes

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Summary

On another record-setting day for the S&P 500 and Nasdaq, Carl Quintanilla, Jim Cramer and David Faber discussed big stories on the trade front and what they could mean for investors: The U.S. and European Union agreed to a deal framework in which most EU goods would face a 15% U.S. tariff. On Monday, Treasury Secretary Scott Bessent and a U.S. delegation arrived in Stockholm, Sweden for new trade talks with their Chinese counterparts. The anchors reacted to what President Trump said about pharma tariffs, the Fed and China during his bilateral meeting with UK Prime Minister Keir Starmer in Scotland. Also in focus: Four "Mag 7" companies lead the biggest week of earnings season, Tesla's $16.5 billion chip deal with Samsung, J.P. Morgan upgrades Nike Squawk on the Street Disclaimer

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action.
0:07.8	Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kington-A. with Jim Kramer and David Faber at Post 9 of the New York Stock Exchange.
0:13.3	Market does welcome this trade framework with the EU as we get set for one of the busiest weeks of the year.
0:18.8	A Fed decision, a jobs number, GDP, PCE, and 38% of
0:24.0	SEP market cap reporting earnings. Our roadmap begins with the president announcing that trade deal
0:28.5	with the EU. The focus now shifts to China. We will go live to Sweden on the trade talks
0:33.1	between the two sides there. And as Carl just said, it is a big week for the markets.
0:37.0	We have that rate decision coming as Chair Powell faces growing pressure to sides there. And as Carl just said, it is a big week for the markets. We have that
0:37.5	rate decision coming as Chair Powell faces growing pressure to cut rates. And it is the busiest week
0:42.5	of earning season. Meta, Microsoft, Apple, and Amazon will all report their latest quarterly
0:47.4	results. Let's begin with this new trade framework between the U.S. and the European Union.
0:52.3	According to both sides, most goods from the EU will face a 15% U.S. and the European Union, according to both sides. Most goods from the
0:54.7	EU will face a 15% U.S. tariff, exceptions for some key industries. The president says the EU will
1:00.7	not impose a tariff on U.S. imports. Some eye-popping numbers, Jim, on the amount of energy, for
1:06.8	example, that the EU is said to seek to buy over the next three years.
1:11.0	Yeah, I mean, look, it just presumes that the war is going to end.
1:14.0	It presumes that they're going to have to have a steady stream of natural gas.
1:17.4	It presumes that we are going to be their supplier and they're on the hook to us.
1:22.3	You do not get these moves, and the moves are extraordinary for a sneer,
1:27.0	unless they now have a market that is going to be
1:29.9	insensitive. Maybe they get long-term contracts as opposed to just the piecemeal South Korea,
1:35.1	piecemeal China. So it's very bullish and I mean, you should take a PQT. I mean, well, it's a natural gas
	...

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