Squawk on the Street SOTS 2nd Hour: More Turbulence for Telsa, New Tariff Deadline, Core AI Deal 7/7/25
Jul 7, 2025
Roger Altman, founder and senior chairman of Evercore ISI, shares insights on the adverse effects tariffs could have on economic growth and inflation. He emphasizes the conflicting signals in the U.S. economy, where slow growth coexists with rising equity markets. The discussion touches on the impact of new trade policies and the potential ramifications for BRIC countries. Altman also highlights the dual nature of the AI revolution and tariffs on consumer prices, showcasing the challenges presented by increasing national debt.
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Elon Musk's Focus Affects Tesla
- Investors prefer Elon Musk to focus solely on Tesla rather than political pursuits.
- His political involvement has caused Tesla stock to drop significantly despite solid sales growth.
Tariff Delays and BRIC Risks
- The U.S. administration is delaying tariff rate increases from July 9 to August 1, allowing more time for negotiations.
- Additional tariffs could target BRIC countries if they align with anti-American policies, complicating trade relations.
Market at Fair Value with Risks
- The market is near fair value amid rising tariffs and slower growth forecasts.
- Earnings expectations have lowered, making Q2 results a key indicator of tariff impacts.