Squawk Pod Treasury Secretary Scott Bessent & New York City Mayor Eric Adams 7/7/25
Jul 7, 2025
Scott Bessent, former Treasury Secretary in the Trump administration, warns of impending tariffs for nations lacking trade deals. He hints at significant trade announcements on the horizon, raising urgent economic implications. Meanwhile, New York City Mayor Eric Adams shares insights on his independent mayoral bid, tackling topics like Andrew Cuomo's political legacy and the campaign dynamics with candidate Zohran Mamdani. The conversation also touches on Elon Musk's plans for a new political organization, stirring mixed emotions among Tesla investors.
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Three-Legged Economic Stool
- The Trump economic agenda relies on trade, tax, and deregulation as a three-legged stool.
- Accelerating economic growth without inflation is crucial to reducing the deficit and debt-to-GDP ratio.
Tariff Threats Spur Negotiations
- Threatening tariff boomerangs pushed countries to submit new trade proposals.
- Negotiations intensified right before the August 1st deadline to avoid reversion to higher April tariffs.
US-China Talks Hold Potential
- Upcoming meetings with Chinese counterparts focus on respectful dialogue between the two largest economies.
- There is potential for cooperation if China chooses to engage beyond trade.