Latest / NO FILTER / _Another big question mark__ Markets slip after Trump accuses China of trade deal violation(MP3_160K)

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_Another big question mark__ Markets slip after Trump accuses China of trade deal violation(MP3_160K) · NO FILTER

• 0:00
  Speaker 1: Americans are noticing the tariffs, and Wall Street as well
• 0:04
  Speaker 1: is noticing what's going on with the tariffs. This morning,
• 0:07
  Speaker 1: President Trump posted that China has violated a preliminary trade
• 0:10
  Speaker 1: agreement with the US. For more on this, let's bring
• 0:14
  Speaker 1: in the co anchor of CNBC squawk Box and a
• 0:17
  Speaker 1: New York Times columnist, Andrew Ross Sorkin. And it's interesting
• 0:20
  Speaker 1: to see the way the markets react to court rulings
• 0:24
  Speaker 1: pertaining to the tariffs versus Trump's posts about the tariffs.
• 0:30
  Speaker 2: It's an interesting situation because the markets actually have turned negative,
• 0:34
  Speaker 2: at least in the immediate aftermath of those comments by
• 0:37
  Speaker 2: the President, because it sounds like the President is going
• 0:39
  Speaker 2: to be escalating tariffs and this tariff battle with the Chinese.
• 0:43
  Speaker 2: You had the comment yesterday by Scott Deston suggesting that
• 0:46
  Speaker 2: the talks were stalled with the Chinese, which is not
• 0:48
  Speaker 2: something we had heard before from this administration. In fact,
• 0:51
  Speaker 2: this administration had tried to put a bit of a
• 0:54
  Speaker 2: happy face on where things stood. And now clearly the
• 0:57
  Speaker 2: President coming out and saying that there's a problem. By
• 1:00
  Speaker 2: the way, he could come out earlier and said there
• 1:02
  Speaker 2: was a problem with the EU just a week ago
• 1:04
  Speaker 2: now that has been extended. So I think there's a
• 1:06
  Speaker 2: big question mark about when any of this is going
• 1:09
  Speaker 2: to be resolved, and again that creates a question mark
• 1:12
  Speaker 2: about if there's a paralysis in the economy. Having said that,
• 1:16
  Speaker 2: we've also discussed that this economy has been remarkably more
• 1:19
  Speaker 2: robust than most economists have thought. Some of the data
• 1:22
  Speaker 2: we're seeing today suggests that as well. Some little hiccups
• 1:26
  Speaker 2: along the way and some of the data that's come out,
• 1:29
  Speaker 2: But nonetheless, the markets don't like an escalation, and at
• 1:33
  Speaker 2: least today it appears for the moment that there may
• 1:36
  Speaker 2: be one.
• 1:38
  Speaker 1: All right, And now I'd love to know about the
• 1:41
  Speaker 1: meeting between the President and Jerom Powell. Little tense, perhaps
• 1:47
  Speaker 1: no any tension.
• 1:48
  Speaker 2: You know, it's a little unclear what really happened. Clearly,
• 1:51
  Speaker 2: the President has been quite public, I mean, Mika, you
• 1:53
  Speaker 2: know this has been as well as anybody. There's two
• 1:56
  Speaker 2: versions of President Trump. Oftentimes there's a very public version
• 2:00
  Speaker 2: who takes the truth social makes very public proclamations, criticizes
• 2:04
  Speaker 2: folks and other things, and then in person we'll talk
• 2:08
  Speaker 2: to them and it can be very charming. So it's
• 2:10
  Speaker 2: not clear that this was necessarily a meeting with genuine animosity.
• 2:15
  Speaker 2: I think the President has a view that he believes
• 2:17
  Speaker 2: that interest rates should be lower, that Jay Powell needs
• 2:21
  Speaker 2: to lower them, and Jay Powell has a view that
• 2:23
  Speaker 2: the data hasn't suggested that he needs to do such
• 2:25
  Speaker 2: a thing, and that he wants to wait and see,
• 2:28
  Speaker 2: and that because of the tariff piece and really just
• 2:30
  Speaker 2: the uncertainty around that he wants to see where that
• 2:33
  Speaker 2: ultimately lands. I think first before making a move, we
• 2:37
  Speaker 2: did not see a tweet yet or a truth social
• 2:41
  Speaker 2: post yet from the President as it relates to that meeting.
• 2:43
  Speaker 2: So I don't think we really know exactly how that
• 2:47
  Speaker 2: meeting went, but I think we all know what the
• 2:50
  Speaker 2: conversation was.
• 2:52
  Speaker 1: Yeah, c NBC is Andrew Russ Sorgan. Thank you very much,