Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanillo with Jim Kramer,

David Faber, Post 9 of the New York Stock Exchange. Futures are trying to hold even as the president announces those 25% tariffs on foreign-made cars and auto parts,

waiting for some response from the Europeans. but meantime yields hit about a one-month

high, the curve steepest in about three years. Our roadmap begins with Trump's latest trade target,

slapping those tariffs on all cars not made in the U.S. Plus Tesla and tariffs, CEO Elon Musk,

says the company won't be unscathed and the cost will be, quote, significant.

Yeah, we'll talk some Tesla. And related's big AI bet, this is, of course, known as a big real estate developer, but they are making major investments in data centers.

Interesting. Yeah. Let's begin with the president implementing those tariffs. He outlined them during his announcement yesterday.

We'll effectively be charging a 25 percent tariff.

But if you build your car in the United States, there is no tariff.

And what that means is a lot of foreign car companies.

A lot of companies are going to be in great shape because they've already built their plant.

But their plants are underutilized, so they'll be able to expand them inexpensively and quickly.

But others will come into our country and build, and they're already looking for sites.

I went on to say, Jim, that he'll add far larger tariffs if, say, the Canadians and the Europeans

try to team up to create what he would

argue is economic harm to the U.S.? Yeah, I mean, look, I think that we have to get back.

This is something I was talking about yesterday, you guys, that you didn't get any immunity if you

built cars here. And one of the reason is, is because the president is convinced that we become

nothing but an assembly plant for expensive overseas cars.

So 60 million cars sold here, 8 million.

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