U.S. President Donald Trump waves from the roof of the West Wing of the White Home as he takes a tour on August 05, 2025 in Washington, DC.
Win Mcnamee | Getty Photographs Information | Getty Photographs
U.S. President Donald Trump joined CNBC’s “Squawk Field” Tuesday for a prolonged interview that touched on tariffs, the Federal Reserve, the state of Russia’s economic system and being rejected as a buyer by JPMorgan Chase and Financial institution of America.
For these pressed for time and need a very broad TL;DR: Trump seems to be digging in on his insurance policies.
With modified country-specific “reciprocal” tariffs resulting from begin Aug. 7 — and duties on India to be raised throughout the subsequent 24 hours, in keeping with Trump’s feedback in the course of the interview — the Trump administration appears to be turning its consideration to sectoral ones. Trump advised CNBC that he’ll announce his tariff plan for semiconductors “throughout the subsequent week or so.” Moreover, he’ll impose “a small tariff” on pharmaceutical imports earlier than ratcheting it as much as 250% inside a 12 months and a half.
The U.S. president does not appear to be he is backing down from his feud with the central financial institution, both. Days after the Fed selected to carry rates of interest, Trump mentioned his potential candidates to interchange Jerome Powell as Fed chair. Amongst these contenders are former Governor Kevin Warsh and Kevin Hassett, the Nationwide Financial Council director. “Each Kevins are excellent,” Trump stated.
Whichever Kevin — or “different individuals which might be excellent, too,” in Trump’s phrases — assumes the position when Powell’s time period ends in Could 2026 (or is truncated earlier, relying on Trump’s strikes), they must assist prop up an economic system that appears to be slowing, as indicated by July’s startling jobs report and ISM Companies index.
What it is advisable to know as we speak
And at last…
(COMBO) This mix of images created on February 21, 2020 exhibits
US President Donald Trump delivers remarks at a Hold America Nice rally in Phoenix, Arizona, on February 19, 2020.
Russian President Vladimir Putin delivers a speech throughout a ceremony in Jerusalem on January 23, 2020 commemorating the individuals of Leningrad in the course of the Second World Warfare Nazi siege on town.
Jim Watson | Afp | Getty Photographs
The rift between Moscow and Washington appears to be like set to deepen. “Putin will cease killing individuals if you happen to get vitality down one other $10 a barrel. He will haven’t any alternative as a result of his economic system stinks,” Trump, advised CNBC’s “Squawk Field” on Tuesday.
The feedback come after relations between Moscow and Washington, which remained cordial at first of Trump’s second time period in workplace regardless of the continued conflict, soured in current weeks.
— Holly Ellyatt
