The Tariff Formula with Commerce Secretary Howard Lutnick 4/3/25

In remarks in the Rose Garden on April 2, President Trump announced steep tariff rates on many countries, including 34% on China, 20% on the European Union, 46% on Vietnam and 32% on Taiwan. Citi Wealth CIO Kate Moore explains the implications for the markets, and CNBC’s Steve Liesman explains the administration’s calculus in arriving at these numbers. Courtney Reagan and Phil LeBeau report on how retailers and automakers are navigating the changes. Finally, an extended interview with the official at the center of it all: Commerce Secretary Howard Lutnick. Sec. Lutnick defends and explains the tariff strategy, underscoring his and the President’s hopes to bring manufacturing back on shore.  Kate Moore - 11:21Steve Liesman - 24:21Phil LeBeau - 36:14Courtney Reagan - 38:37Howard Lutnick - 43:07 In this episode:Steve Liesman, @steveliesmanPhil LeBeau, @LebeaucarnewsCourtney Reagan, @courtreaganHoward Lutnick, @howardlutnickBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.