Treasury Secretary Scott Bessent & New York City Mayor Eric Adams 7/7/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 7 July 2025

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the latest phase of the Trump administration’s tariff strategy, Treasury Secretary Scott Bessent warned that the foreign nations without deals by August 1st would end up with the tariffs enacted in April. Sec. Bessent then announced that the administration will make “several” trade-related announcements within the next 48 hours, signaling imminent progress even as U.S. tariff deadlines remain in flux. Meanwhile, New York City Mayor Eric Adams discusses his independent bid in the city's mayoral race, including the politics of Andrew Cuomo and the campaign promises of the Democratic candidate, Zohran Mamdani. Plus, Elon Musk is forming his own political organization called the "America Party," and CNBC’s Phil LeBeau reports on the negative reaction from some Tesla stockholders. Phil LeBeau - 7:37 Scott Bessent - 13:06 Eric Adams - 30:29 In this episode: Sec. Scott Bessent, @SecScottBessent Eric Adams, @NYCMayor 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.
0:04.3	This is Squawk Pod, and I'm CNBC producer Cameron Costa.
0:08.4	On today's episode, a tariff boomerang, potentially.
0:13.3	Treasury Secretary Scott Besant issued a warning to countries who have not reached a trade deal with the U.S. by August 1st.
0:20.3	Their tariffs may revert to what they were U.S. by August 1st.
0:20.8	Their tariffs may revert to what they were back in April.
0:24.3	Secretary Bessent tells us the warning has proved fruitful already.
0:28.4	We've had a lot of people change their tune in terms of negotiations.
0:31.9	So my mailbox was full last night with a lot of new offers, a lot of new proposals, so it's going to be a busy couple of days.
0:42.3	And the heated city election that has made national headlines.
0:47.3	New York City Mayor Eric Adams joins us on his platform and his competitors, including Andrew Cuomo and Zoran Mamdani.
0:55.0	Finding ways as the mayor to put money back in the pockets of working class people,
1:00.0	I know how to do. He does it. This is a class exercise. Right now we need expertise
1:06.0	that we don't lose the success we made in this city.
1:10.0	Plus on the national stage, a new political party under Elon Musk taking shape?
1:15.6	Can you become someone who can influence parties when you have such close margins on both sides?
1:21.6	It's Monday, July 7, 2025, and Squawk Pod begins right now. Stand Becky by in three, two, one.
1:30.2	Cure, please.
1:32.6	Good Monday morning and welcome to Squackbox right here on CNBC.
1:36.7	We're live from the NASDAQ market site in Times Square.
1:39.5	I'm Becky Quick along with Joe Kernan and Andrew Ross Sorkin.
1:42.8	Let's start this morning with trade. President Trump saying he has now signed letters to
	...

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