Trump's 30% Tariff Threat, White House Intensifies Criticism of Powell, Bitcoin's Record Run 7/14/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 14 July 2025

⏱️ 43 minutes

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Summary

Carl Quintanilla and Jim Cramer kicked off a new week with market reaction to President Trump threatening Mexico and the EU with 30% tariffs beginning August 1. The anchors also discussed the president ramping up his criticism of Fed Chair Powell for not cutting interest rates and saying Powell should quit. Also in focus: Bitcoin's new record high and "Crypto Week" on Capitol Hill, Jim's CNBC Investing Club Annual Meeting message on bullishness, Elon Musk says Tesla and xAI should not merge, Nvidia and what's weighing on chip stocks, Waters and Becton Dickinson shares fall in reaction to their $17.5 billion merger agreement Squawk on the Street Disclaimer

Transcript

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0:00.0	Market moving insight and analysis.
0:02.1	Join Jim Kramer, David Faber and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Monday morning. Welcome to Squawk on the street. I'm Carl Kintanio with Jim Kramer and post-9 of the New York Stock Exchange. Faber has the morning off. Futures are red, but off the lows as the street wrestles with a new threat of 30% tariffs on EU and Mexico imports.
0:21.6	Big week of inflation data and bank earnings with a long bond near 5% once again today.
0:26.6	Our roadmap begins with the president announcing those tariffs beginning next month
0:30.6	and threatens to raise them further if those countries retaliate.
0:34.6	Big test for the rally as earning season kicks off essentially tomorrow
0:38.5	with the banks. And then Bitcoin, new record highs as crypto week begins on Capitol Hill.
0:44.6	Let's begin with this new week for the markets as they digest the president's latest
0:48.9	tariff threats. Got some sound from HACID on that a few moments ago. Right. Listen to that because I think
0:54.0	that there's a confusion about whether it's just on top of
0:57.0	things, particularly with Mexico.
0:58.7	I don't know whether he explains it.
1:00.1	I don't think he really elucid it that much.
1:03.0	What worries me is that, like, in a lot of these countries, Mexico buys a lot
1:09.5	from us.
1:10.5	Europe, not so much. We have a big trade, obviously, a trillion dollars in trade there. But what happens if you build a plant in Mexico? You build a Mercedes plant or a BMW plant to have been built near me in Mexico, and they were, we thought, covered. Are they no longer covered?
1:28.6	You mean under compliance with the URA?
1:30.3	Yes. And that's what I want to know, because some of these plants were activated after
1:35.1	USMCA, and we all thought that they were covered. And we don't have any clarity about what's
1:40.2	covered and what's not. Right. You're kind of alluding to, I don't know, maybe the page one of the
1:45.1	times today, which talks about our trade policy losing any semblance of organization or structure.
1:51.7	Exactly. Exactly. That's how they put it. Yeah. I mean, it's almost like you got to go to someone who's like,
	...

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