Squawk on the Street SOTS 2nd Hour: Eli Lilly Shares Slim Down, Chip on Trump’s Shoulder, Exclusive: ConocoPhillips CEO 8/7/25
Aug 7, 2025
Ryan Lance, CEO of ConocoPhillips, shares insights on the oil and gas industry, discussing production strategies amid tariff impacts and deflationary pressures. He highlights OPEC decisions and gasoline demand shifts, emphasizing the need for strong pricing signals. The podcast also tackles President Trump's controversial tariff proposal on semiconductors, the significant decline of Eli Lilly shares after disappointing weight loss data, and the evolving landscape of corporate strategies in response to market dynamics.
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Trump's Chip Tariffs with US Exceptions
- President Trump plans 100% tariffs on chip imports with exceptions for companies building in the U.S. at various stages.
- The exemptions imply economic incentives to boost domestic chip manufacturing despite tariff pressures.
Tariff Cost Burden Split
- Around 60% of tariff costs will pass to consumers, with companies absorbing 40%.
- Tariffs will impact both consumer prices and corporate profits, adding economic strain.
Tariffs, Tax Cuts Boost Inflation, Growth
- Tariffs and tax cuts may both lift inflation and growth into next year.
- The Fed might delay rate cuts if inflation remains elevated alongside growth acceleration.