Squawk Pod The Tariff Toolbox: Sen. Elizabeth Warren & Apollo CEO Marc Rowan 04/09/25
Apr 9, 2025
Senator Elizabeth Warren discusses the potential repeal of Trump's tariffs, cautiously emphasizing their usefulness when applied correctly. Marc Rowan, CEO of Apollo Global Management, shares insights on the economic slowdown and stresses that a recession isn't here yet. They explore the impacts of tariffs on market volatility, national debt implications, and political tensions surrounding tax policies. The conversation also touches on the influence of corporate leaders on discussions about tariffs and investment opportunities during economic uncertainty.
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Strategic Tariff Use
- Tariffs can be useful tools in economic strategy, but they must be targeted and strategic.
- Using tariffs without clear goals creates economic chaos and discourages investment.
Tariffs and Price Gouging
- Businesses raising prices in anticipation of tariffs effectively impose a tax on American consumers.
- This creates an environment ripe for price gouging, where prices increase beyond the tariff costs.
Washing Machine and Dryer Example
- When tariffs were imposed on washing machines, the prices of dryers also went up, despite no tariff on dryers.
- This demonstrates price gouging, where businesses exploit situations to increase prices unnecessarily.