Squawk Pod
GM CEO Mary Barra & NEC Director Kevin Hassett on China Trade 5/1/25
May 1, 2025
Mary Barra, the Chair and CEO of General Motors, is dedicated to reshaping U.S. auto manufacturing amid evolving trade dynamics with China. Kevin Hassett, the National Economic Council Director, discusses the latest U.S.-China tariff negotiations, hinting at a possible deal. They dive into the repercussions of tariffs on GM, the importance of domestic production, and the competitive landscape in the automotive industry. There's optimism about overcoming trade challenges, especially for U.S. farmers, as both nations navigate a complex economic relationship.
41:43
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Quick takeaways
- China's willingness to discuss tariffs signals a potential shift in U.S.-China trade negotiations, reflecting their strategic resilience amidst economic pressures.
- GM CEO Mary Barra highlighted the company's strategy to enhance domestic production to counteract the financial impact of tariffs on operations.
Deep dives
China's Trade Stance
China's recent signals regarding trade discussions with the U.S. suggest an openness to negotiations, particularly concerning tariffs. The Chinese state media reported that President Trump's team had reached out, framing this as a response to U.S. anxiety. However, experts indicate that China may be better positioned to endure a trade conflict, emphasizing the cultural resilience of the Chinese people in facing economic hardship. This narrative serves to bolster China's image domestically while potentially maneuvering the U.S. into a more favorable bargaining position during negotiations.
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