Watch CNBC's full interview with JPMorgan's Gabriela Santos
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
36 minutes ago
- The Hill
Bessent: Trump's Putin meeting like showing off ‘gun case' to ‘uncontrollable neighbor'
Treasury Secretary Scott Bessent on Tuesday commended President Trump's summit with Russian President Vladimir Putin in Alaska last week. 'Alaska was a show of force by President Trump. He invited President Putin to land that the Russians used to own. He displayed a huge amount of military hardware and then did a flyover,' Bessent said during a Tuesday morning appearance on CNBC's ' Squawk Box.' 'It was kind of like inviting your uncontrollable neighbor to your house and showing him your gun case,' he added. The Treasury Secretary said the immediate follow-up meeting with Ukrainian President Volodymyr Zelensky at the White House on Monday signaled strong strides toward peace between Russia and Ukraine. 'We had a very good meeting with him in and his team in the Oval for about an hour and a half, and then we met with the European leaders who were an incredible group to have in the White House, all led by President Trump,' Bessent said. 'And yes, the culmination of that was a call with President Putin and my strong belief is that there will be a bilateral meeting between President Putin and President Zelensky,' he continued. 'And that's the only way to end this conflict, is to get the two sides talking.' The Kremlin's strikes on Ukraine have continued amid peace negotiations as Russian leaders have urged NATO not to deploy forces in Eastern Europe. On Monday, Russia's foreign ministry spokesperson Maria Zakharova said troop from NATO member nations 'could lead to an uncontrollable escalation of the conflict with unpredictable consequences.' Some world leaders have maintained that the Trump-Putin summit benefitted Moscow more than the U.S. Former British ambassador to Russia Laurie Bristow said the bilateral meeting 'produced nothing for Mr. Trump and gave Mr. Putin most of what he was looking for,' according to The Associated Press while Zelensky pegged the meeting as a photo-op. Still, Bessent said economic pressures on Moscow will force the over three-years long war to end. 'I think the sense is that both sides are ready for this terrible conflict to end, and one of the ways to make President Putin want it to end is on the economic side,' he told CNBC on Tuesday. 'The Russian economy has 20 percent plus inflation. Right now, it is a war economy. I think more than 25 percent of the GDP is coming from the military buildup. So, you know, it's a very imbalanced economy,' he continued.
CNBC
2 hours ago
- CNBC
Apple reportedly ups iPhone production in India as country's Russia ties roil White House
Apple has reportedly boosted iPhone production in India as the country faces pressure from the White House over its Russian oil purchases "We have planned to up the tariffs on India," Treasury Secretary Scott Bessent told CNBC's "Squawk Box" on Tuesday. "These are secondary tariffs for buying the sanctioned Russian oil." Bessent accused India of "profiteering" by purchasing cheap Russian oil and reselling it during the Ukraine war, "which is unacceptable." Earlier this month, President Donald Trump hiked tariffs on India to 50%. The president said in July that he would impose secondary tariffs "at about 100%" on Russia's trading partners if a peace deal isn't reached with Ukraine by September. His comments came as Bloomberg reported that technology giant Apple has reportedly upped production at five of its factories in India as it readies for the launch of its new iPhone 17 models. The expansion includes some new plants and factories belonging to the Tata Group and contract electronics manufacturer Foxconn Technology, according to the report, citing people familiar with the matter. Apple is also looking to create a new iPhone 17e in India next year, according to the report. In recent years, Apple has shifted more production to India as it looks to reduce its reliance on China, especially in the wake of recent trade tensions. Data from Canalys in May estimated that iPhone shipments from India to the U.S. grew 76% in May as trade restrictions loomed. At the same time, Apple has committed to investing over $600 billion in the U.S. over the next four years to improve American manufacturing production. That includes a $100 billion spending expansion this month, which included a $2.5 billion investment to expand iPhone glass maker Corning's production.
CNBC
3 hours ago
- CNBC
We maintain our $180k-$200k bitcoin price target by year-end, says SkyBridge's Anthony Scaramucci
Anthony Scaramucci, SkyBridge Capital founder and managing partner, joins 'Squawk Box' to discuss this week's Wyoming Blockchain Symposium, who the next Fed chair should be, state of bitcoin, his thoughts on stablecoins, and more.
