Squawk Pod

New Federal Trade Commission Chair Andrew Ferguson sits down with CNBC’s Eamon Javers to discuss antitrade policy and his plans for Big Tech, saying he’s “unequivocally” not backing off of a case against Amazon. Plus, former Aetna CEO and current Oscar Health CEO Mark Bertolini weighs in on how to improve the messy, frustrating world of health insurance in what’s been a rocky start to the year for the industry. Plus, two astronauts are still stuck in space, JPMorgan Chase’s Jamie Dimon offers a word of caution on consumer spending and the countdown to a possible government shutdown continues. Andrew Ferguson - 18:02Mark Bertolini - 35:22 Andrew Ferguson, @AFergusonFTCMark Bertolini, @mtbertEamon Javers, @EamonJaversBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

As markets react sharply to President Trump’s 25% tariffs on steel and aluminum, Altimeter Capital CEO Brad Gerstner weighs in on the escalating market turmoil and the broader implications of Trump’s trade policies. Amid these developments, CNBC’s Eunice Youn reports from Beijing on talks between China’s Ministry of Commerce and Walmart, which is seeking price reductions from Chinese suppliers to mitigate tariff impacts. Plus, CNBC’s Eamon Javers delivers insights on Trump FTC Chair Andrew Ferguson’s recent remarks to CEOs, emphasizing that while he won’t allow mergers to falter unnecessarily, automatic approvals for significant mergers aren’t guaranteed. Eamon Javers - 09:14Eunice Yoon - 16:13Brad Gerstner - 22:51 Eunice Yoon, @onlyyoontvEamon Javers, @EamonJaversBrad Gerstner, @altcapBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

Tesla shares have lost 50% of their value ($800B in market cap) since their peak in December, dropping 15% in Monday’s trading session alone. Despite the slide–and Elon Musk’s increased visibility in DC–longtime Tesla shareholder Ron Baron says he's still a believer in the company’s fundamentals and the company’s leader. Tesla comprises 32% of one of his funds, and Baron explains his persistent optimism. Tesla isn’t the only stock under pressure; the Dow dropped 900 points on Monday, and the Nasdaq suffered its worst day since 2022. Plus, U.S. Secretary of Education Linda McMahon explains why, as a bureaucrat, she believes bureaucracy hurts more than helps education outcomes. Sec. McMahon discusses the imminent unwinding of her own department.  Ron Baron - 13:56Linda McMahon - 45:05 In this episode:Becky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

As Wall Street stumbles on fears of a trade war, National Economic Council Director Kevin Hassett discusses the U.S. economy and the uncertainties that are shaking investors. Tariff concerns extend to small businesses, too; Mezcalum co-founders (and Real Housewives of New York stars) Erin and Abe Lichy share how they’re absorbing raised costs in their supply chain for mezcal from Mexico. CNBC’s Eamon Javers reports on President Trump’s latest comments from Washington, including a shift away from the stock market as a barometer for success. Plus, Tesla stock is experiencing its longest losing streak since going public. Eamon Javers - Kevin Hassett - 26:29Erin and Abe Lichy - 41:17 In this episode:Erin Lichy, @ErindlichyEamon Javers, @EamonJaversBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

Scott Bessent, Treasury Secretary, shares insights from his time navigating financial strategies during significant geopolitical events. He dives into the Trump administration's tariffs and the effects on international trade, particularly with Ukraine. Bessent highlights the resilience of the U.S. dollar and the market's necessary 'detox' from prior excessive spending. The conversation shifts to the U.S. strategic bitcoin reserve and its implications, with expert MacKenzie Sigalos exploring bitcoin's evolving role in global finance.

As the United States and Canada spar over tariffs, Karina Gould, a candidate for Canadian Prime Minister and former Canadian government House leader, explains Canada’s retaliation against the Trump administration’s tariffs and the Canadian frustration at the current relationship between neighbors. Then, pollster and political strategist Frank Luntz provides insights into swing voters 6 weeks into President Trump’s second term. Luntz discusses the public’s opinion on Elon Musk's influence in Washington and the economic messaging from the White House. Plus, some Senate Republicans push to codify DOGE cuts after meeting with Elon Musk, and automakers have one month’s reprieve from tariffs on autos coming into the U.S. from Mexico and Canada.  Karina Gould - 14:02Frank Luntz - 25:44 In this episode:Frank Luntz, @frankluntzJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY

Wednesday marks day two of President Trump’s 25% levies on Mexico and Canada. In his joint address to Congress, the President warned about “a little disturbance” as American industries and neighbors digest his administration’s tariffs. CNBC’s Eamon Javers reports on the rest of the news out of Tuesday’s address, and Phil LeBeau reports that the administration may consider a delay on tariffs for autos. Former US Ambassador to Canada Bruce Heyman explains the toll tariffs may take on the longstanding relationship between neighbors, including social and economic ties. The friction between the U.S. and Canada extends to the ice; National Hockey League Commissioner Gary Bettman discusses the cross border relationships in sport and in finance.  Eamon Javers - 9:48Bruce Heyman - 19:32Gary Bettman - 29:12Phil LeBeau - 37:12 In this episode:Phil LeBeau, @LebeaucarnewsEamon Javers, @EamonJaversRobert Frank, @robtfrankMichael Santoli, @michaelsantoliBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie

President Trump’s tariffs on Mexico and Canada take effect today. Target CEO Brian Cornell sits down with Becky Quick to discuss the impact they’ll have on his business and on price tags for consumers; Cornell warns, costs at checkout will likely go up, and soon. While U.S. stocks and investors waver on the new trade rules, U.S. Commerce Secretary Howard Lutnick explains the long term vision for “fair” trade, as well as the price the Trump administration is willing to pay to curb fentanyl’s flow into the country and bring more manufacturing stateside. Plus, President Trump has paused all U.S. military aid to Ukraine.  Brian Cornell - 14:50Howard Lutnick - 31:48 In this episode:Becky Quick, @BeckyQuickJoe Kernen, @JoeSquawkCameron Costa, @CameronCostaNY

The markets ended February on a low note as investors digest global and domestic uncertainty and prepare for tariffs set to take effect on Tuesday. Cryptocurrency, however, has rallied on President Trump’s announcement of a strategic crypto reserve. In the aftermath of the heated discussion between President Trump and Ukrainian President Zelenskyy, author, editor, and international affairs professor Nina Khrushcheva examines the U.S. agenda and next steps for Russian President Putin. Hayman Capital Management founder Kyle Bass considers Ukraine’s geopolitical position and the shift in war sentiment among conservatives in the United States. Plus, Anora took home 5 awards from Sunday’s Oscars. Puck founding partner Matt Belloni discusses the other winners, the surprises, and the streaming factor in this year’s Academy Awards.  Megan Cassella - 07:23Nina Khrushcheva - 12:57Kyle Bass - 21:11Matt Belloni - 31:45 In this episode:Matt Belloni, @MattBelloniKyle Bass, @JkylebassMegan Cassella, @mmcassellaMelissa Lee, @MelissaLeeCNBCJoe Kernen, @JoeSquawkCameron Costa, @CameronCostaNY

Cynthia Littleton, Co-editor at Variety, shares her insights on the upcoming Oscars and predicts potential winners, sparking a lively discussion about the competitive landscape in Hollywood. The conversation touches on standout performances and the cultural narratives behind nominees. Additionally, health expert Dr. Scott Gottlieb discusses the alarming measles outbreak in Texas, emphasizing the impact of vaccination rates on public health. The episode also covers economic turmoil influenced by tariffs and recent developments in AI technology.