Elon Musk will be a great cutter of gov. fat, according to fmr. Commerce Secretary Wilbur Ross

President-elect Donald Trump hasn’t hidden his appetite to unleash new tariffs on China and possibly Europe right out of the box upon getting back into the White House. The point person for executing those tariffs is likely to be Cantor Fitzgerald CEO Howard Lutnick, who Trump has selected as Commerce Secretary. While stocks continue to new highs despite the tariff threats, most experts agree tariffs could hurt the economy and increase inflation. It’s a risk that shouldn’t be overlooked. Yahoo Finance Executive Editor Brian Sozzi goes one-on-one with businessman and former Commerce Secretary Wilbur Ross. Ross was the Commerce Secretary in the first Trump term and helped implement his tariffs on China. Will the president go hardcore on tariffs as he has promised? Or is it a negotiating tactic? Ross takes investors inside the mind of the President-elect as the US nears Inauguration Day and potentially, more restrictive trade.

Yahoo Finance's Opening Bid, brings you a high-octane take on the freshest analyst calls, wildest stock moves and shrewdest commentary in the business world. Executive Editor Brian Sozzi puts Wall Street's finest through their paces in this essential conversation for every investor - before the stock market opens.

Find this episode's transcripts and more episodes of Opening Bid at http://finance.yahoo.com/videos/series/opening-bid/.

Thoughts? Questions? Fan mail? Email us at yfpodcasts@yahooinc.com.

00:00-Wilbur Ross on Opening Bid

01:30-Are tariffs good for the economy?

05:00-Evaluating Trump cabinet picks

13:30-How fast will Musk and Ramaswamy be able to make changes?

19:30-Hot takes on AI technology

Yahoo Finance's Opening Bid is hosted by Brian Sozzi, and produced by Rachael Lewis-Krisky.

Wilbur Ross is an American businessman who served as the 39th United States secretary of commerce from 2017 to 2021. 

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