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Leverage in the U.S. & China, Affirm CEO Max Levchin 5/9/25
May 9, 2025
Max Levchin, CEO of Affirm and co-founder of PayPal, discusses the evolving landscape of consumer spending and the impact of buy now, pay later solutions. Michelle Caruso-Cabrera, a CNBC contributor and CEO of MCC Global Enterprises, shares insights from her recent trip to China, highlighting the complexities of U.S.-China trade relations. They explore the resilience of the U.S. economy compared to China's current challenges, and the implications of ongoing trade negotiations, and offer a glimpse into the future of payment models.
31:35
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Quick takeaways
- India's proposed tariff reduction to under 4% signifies a potential trade deal with the U.S. aimed at enhancing trade access.
- Affirm CEO Max Levchin highlighted the paradox of strong consumer spending amidst economic anxiety, supported by a stable job market.
Deep dives
Trade Deals and Tariffs
Recent trade discussions indicate a potential reduction of tariffs between the U.S. and India, with India proposing to lower its tariff rates to under 4% from nearly 13%. This move aims to facilitate a broader trade deal that would grant the U.S. preferential access to 90% of its goods. Additionally, President Trump has introduced a trade deal with the U.K. projected to create a $5 billion opportunity for American farmers and producers while maintaining a 10% tariff on U.K. imports. However, this has raised concerns among U.S. automakers about the implications for competitive market access.
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