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.

Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kington, Ayo,

Sarah Eisen, Mike Santoli, and Post-9 of the New York Stock Exchange. Kramer and Faber have the

morning off. Future's a bit red, 10-year back above four and a half. As the president signs those tariffs on steel and aluminum and the EU pledges retaliation, Powell's on the hill, there'll likely be a lot of questions about all of that. Our roadmap begins with Elon Musk, though, escalating his feud with Sam Altman and Open AI, making this $97 billion bid for control of the company. We've got the latest. Plus, Coca-Cola, the biggest gainer on the Dow this morning, easily topping earnings estimates on strong global demand. The company's chairman and CEO James Quincy will join us to discuss next hour. Also, shares of Shopify shares are moving higher in the pre-market, despite a weaker outlook.

We're going to discuss the quarter with Shopify's president, Harley Finkelstein.

It's a pretty good quarter across the board.

Let's begin, though, with the president's 25% tariffs on steel and aluminum imports, and the Fed

share going to Capitol Hill to testify on the economy before

Senate banking today. Obviously, lots of buckets that lawmakers will quiz them about, but one might

be the effect of the tariffs would be retaliation, the prospect of even further industries

getting affected, and what that does to things like CAPEX intentions, which we've got to look at

today. And we don't expect him to really say anything as far as what it'll mean for Fed policy,

because that's been his posture and it's too soon to know.

Is it a one-off inflationary shock?

Is it something more prolonged?

Is it something the Fed would have to respond to?

These are all questions investors have, but he hasn't been able to, nor is willing,

to give any sort of answers

or speculation about what they might do. This is one of those interesting two days of testimony

where tomorrow, usually second day is very boring and he repeats himself, but tomorrow might

be more interesting because we get CPI out tomorrow morning, the inflationary number.

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