Debating the Impacts of Tariffs and Trade Deficits

Treasury Secretary Scott Bessent calls China’s tariff escalation a “big mistake,” adding that he expects the U.S. to be able to reach deals with its trading partners. On the other hand, Kentucky Senator Rand Paul says while he supports President Donald Trump, he does not support tariffs, emphasizing that every trade relationship is mutually beneficial. Plus, Apple is reportedly planning to source more iPhones from India after Trump’s China tariffs, and Shopify CEO Tobi Lutke told employees that they’ll have to show their jobs can’t be done by artificial intelligence before asking for more headcount and resources. 

Sec. Scott Bessent - 16:39
Sen. Rand Paul - 34:52

In this episode: 

Scott Bessent, @SecScottBessent

Rand Paul, @SenRandPaul

Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Cameron Costa, @cameroncostany