Treasury Secretary Bessent & Media with Mario Gabelli 7/31/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 31 July 2025

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

After the U.S. struck a trade deal with South Korea, Treasury Secretary Scott Bessent explains that negotiation and the ongoing talks with China after the administration’s two-day meeting with Beijing officials in Stockholm. Sec. Bessent discusses his team’s frustration with India’s negotiating team and the “2-dimensional chess” match that is the China-U.S. relationship. The day after the Federal Reserve kept interest rates unchanged for the July meeting, Sec. Bessent says he’s compiling a list of candidates to fill the soon-opening seats at the central bank. Veteran media investor Mario Gabelli discusses his 50-year investment in Paramount Global, the company’s upcoming merger with Skydance, and the future of entertainment. He weighs in on media transactions and the best ways to “save Hollywood,” including restoring creative capacity. Plus, Microsoft and Meta wowed Wall Street with their quarterly earnings. Steve Liesman - 13:15 Megan Cassella - 18:38 Scott Bessent - 22:03 Mario Gabelli - 44:37 In this episode: Megan Cassella, @mmcassella Steve Liesman, @steveliesman Scott Bessent, @SecScottBessent 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.
0:02.5	Hi, I'm CNBC producer Katie Kramer.
0:06.8	Today on Squawk Pod.
0:08.8	It's the last day of July.
0:11.4	Do you know where your trade deal is?
0:13.7	We're now just about 18 hours from the mid-night deadline for higher country-specific tariffs to take effect.
0:19.3	The White House working on a flurry of agreements to stave off higher reciprocal tariffs.
0:23.9	Treasury Secretary Scott Bessent joins us straight from a framework with China.
0:28.1	We met for two full days in Stockholm.
0:30.6	The Chinese are tough negotiators.
0:32.7	We're tough too.
0:33.7	I believe that we have the makings of a deal.
0:37.1	And off a late night, 15% deal with South Korea.
0:40.9	They will buy a substantial amount of U.S. energy.
0:44.1	They will make a substantial investment into the U.S.,
0:47.6	both from their sovereign resources and via private companies.
0:53.4	Legendary investor Mario Gubelli sees opportunity in the changes hitting the entertainment industry
0:59.0	from consolidations to cable spin-offs.
1:01.0	What is important now is to help Hollywood.
1:04.0	We have to bring American creativity back. We have to bring the content and capability back.
1:09.0	The Federal Reserve stands pat on interest rates with more dissenting boats than we've seen in 30-plus years.
1:15.6	Plus, Microsoft now worth $4 trillion and META, soar past Wall Street's expectations.
	...

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