become a smarter investor with the power of cnbc pro. go to cnbc. slash get pro now. >> trump trade. >> moves sparking a global sell off as plans for 25% tariffs on canada and mexico and another 10% on china putting investors on edge. futures pointing to a sharply lower open one sector hit especially hard. that's the global automaker shares falling around the world this morning. those companies responding. president trump also doubling down on his warning for u.s. consumers, saying there may be short term pain, but he's confident it will be worth it. it's monday, february the 3rd, 2025. you're watching worldwide exchange right here on cnbc. good morning. thanks so much for being here with us. i am frank coghlan. a lot to get to today. we begin with our top story, the u.s. announcing 25% tariffs on canada and mexico and an additional 10% tariff on china. the tariffs on all three of those countries, they begin tomorrow. the president also targeting canadian crude to a lesser extent, and the de minimis exemption that previously excluded lower value ite

become a smarter investor with the power of cnbc pro. go to cnbc.h get pro now. >> trump trade. >> moves sparking a global sell off as plans for 25% tariffs on canada and mexico and another 10% on china putting investors on edge. futures pointing to a sharply lower open one sector hit especially hard. that's the global automaker shares falling around the world this morning. those companies responding. president trump also doubling down on his warning for u.s. consumers, saying there may be short term pain, but he's confident it will be worth it. it's monday, february the 3rd, 2025. you're watching worldwide

special reports all day cnbc experience the power of cnbc pro.our portfolio from every angle on one optimized platform. become a smarter investor with the power of cnbc the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. first. >> time consignors get $100 extra. >> terms apply. >> all right. welcome back. certainly the tariffs on canadian oil. >> are a big deal. >> but it's even. >> a bigger deal. >> depending on where you might live. all right. so here you go. the us imports about 4 million barrels of. canadian oil per day. most of that is going to refineries in. >> the midwest. >> illinois, ohio. >> minnesota, michigan. >> some states that rely on crude oil from canada. the companies marathon petroleum, vale

become a smarter investor with the power of cnbc pro. go to cnbc.h get pro now. >> welcome to. >> crypto world. >> cnbc's daily digital show has trading updates the latest headlines, a global perspective and high profile interviews. scan to watch cnbc's crypto world, sponsored by crypto.com. >> markets rallying off session lows as president trump delays tariffs on mexico by a month. but with the s&p 500 trying to hold above 6000 and sitting just below its record high. let's bring in renaissance macro research chairman jeff degraff for maybe some handicapping of the next move. jeff, great to see you. >> good to see you, mike. thanks for having me. >> all right. so you know pretty good january point to point. although i guess there's a lot of nuance to how it got there. we sort of teased that you see a kind of a linchpin sector in here in terms of determining whether this market stays supportive. what's that? >> well, it's consumer. >> discretionary, right. which is a pretty heterogeneous sector. it's you know, there's a lot of stuff going on there. >

cnbc. >> welcome back. >> to.na henao with your cnbc news update. the army's complex operation to remove the wreckage from. >> the commercial plane that crashed into the. >> potomac river is underway. >> this morning. local and state officials. >> promised they will recover the remains. >> of all. >> 67 victims who died after the jet collided with a military. >> helicopter last wednesday. >> so far, 55 victims have been located. meanwhile, staffers at the u.s. agency for international development, or usaid, were told to stay out of the agency's headquarters today. a memo told employees to work remotely. and it comes hours after elon musk, the head of. >> president trump's. >> government official. efficiency initiative, said the foreign aid agency would be. >> shut down. >> and russian media reported today a senior paramilitary leader from eastern ukraine was killed in a bombing at a luxury moscow apartment building. ukraine has long accused the man of aiding russia's war effort. russian state media called the blas

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i'm bertha coombs with your cnbc news update. homeland security secretary. >> kristi noem. >> has moved. >> to terminate deportation. protections for nearly 350,000 venezuelans. >> as part of president trump's move to. expand cracking down on immigration. a government notice posted today said the conditions in venezuela no longer meet. the criteria for its citizens to qualify for a temporary protected status. usaid will. merge into the state department with, quote. significant cuts. >> to its workforce. multiple outlets reporting the. >> trump white house. >> is expected to. >> announce the plans to revamp the agency in coming days. it comes as secretary of. >> state marco. rubio told. >> reporters in el salvador today that he. >> is now. >> its acting administrator. and reigning nfl defensive player of the year. myles garrett. >> wants out of cleveland requesting a trade from the browns. >> his request comes. >> one week after the team said. >> it would not trade him, and today said it is not entertaining any offers. garrett is

we have more on the cnbc money minute. >> hello. gerber recalled baby teething sticks because of a possible choking hazard. the sioux then choose sticks are being discontinued after receiving complaints over reports of an emergency room visit. this applies to all flavors and should be returned for a refund. >>> open ai is releasing a new feature called deep research that can carry out time- consuming research online for car recommendations and science questions. the tool has sources online and files can be uploaded to create an in-depth report. the open ai is cautioning that deep research is in the early stages and can show made up information as factual. >>> the new automated feature "dog man" from universal pictures, top to the box office. ticket sales started $36 million and making it the biggest debut for 2025 so far. this is a division of our parent company, nbc universal. >> super cute. >> thank you. >>> coming up, the nba shocker being called one of the biggest blockbuster trades ever. >>> president trump teams up >>> preside

cnbc's frank holland, thank you very much. so. elon musk has access to the treasury department's payment system, full access. the new york times reports that musk and his team with the so-called department of government efficiency, gained access on friday night. it came after a top treasury official who had resisted musk's efforts was put on leave and then suddenly retired after more than 35 years of working for the government. the paper also reports that the musk allies, who have been granted access to the payment system, were made. treasury employees, passed government background checks and obtained the necessary security clearances. however, the musk representatives have yet to gain operational capabilities and no government payments have been blocked. however, this is unprecedented. meanwhile, the security leaders for the u.s. agency for international development are on administrative leave after trying to prevent musk's team from accessing u.s. aid systems. sources tell nbc news that musk's team tried to access personnel

cnbc released a list of the counties where singles have the most money left over after paying all their bills, and these are some big money counties here. fairfax county, virginia came in first with an average disposable income of nearly $84,000. remember, this is for a single person santa clara county, san francisco county, and alameda county all in the top ten. artificial intelligence taking center stage in washington. the ceo of silicon valley tech giant nvidia sat down with president trump today. the president met with jensen huang. the white house didn't allow cameras to see the meeting. this is video of the president signing an executive order this afternoon. nvidia is currently facing several regulatory challenge its most powerful chips have export restrictions limiting their sales to countries like china and russia. and just before leaving office, president biden announced additional regulations. so those countries known as our adversaries, don't have their hands on the most advanced u.s. technology. the new rules are set to take effect this year. president trump does have the p

lori ann larocco is a global supply chain reporter for cnbc. she's the author of the book trade war containers don't lie navigating the bluster. you're watching velshi. we'll be right back. >> this is proof. >> literacy, and it puts an end to litter box stink to sprinkle a few. tablespoons onto clean litter for a dry and stink free litter box. >> look. >> this is about the same amount of kiwi most cats make in a month, but just a few tablespoons of poop litter sucks. >> up all. >> that wetness and odor and won't let it go. >> you can't. >> wring it out. you can't squeeze it out. your litter box never gets a chance to stink. >> all right. >> now give it a smell. >> literally smells like nothing. >> that's crazy. and it makes litter last longer. slashing your litter cost. the litter riser is a nontoxic, environmentally friendly formula used in top equestrian centers for over a decade to help keep horse stalls clean, dry and sanitary. other products claim to reduce litter box odor, but with the litter riser, your litter box never gets a chance to

. >> i'm from cnbc. mr. chairman, at an event in davos, the president said he'll demand that interest rates drop immediately. i guess i have a three-part question. has the president done this to you? has he made that demand? secondly, what is your response to that? and third, what effect, if any, does a president making these kind of remarks have on policy? thank you. mr. powell: three questions. i'm seeing it really as one question, though. i'm not going to have any response or comment whatsoever on what the president said. it's not appropriate for me to do so. the public should be confident that we will continue to do our work, as we always have, focusing on using our tools to achieve our goals and really keeping our heads down and doing our work, and that's how we best serve the public. i've had no contact. thanks. reporter: i'm from the "wall street journal." chair powell, you and several of your colleagues said at the last meeting that your policy stance was meaningfully restrictive. given economic and

joining me now for more on the impacts of these measures is lori ann larocco, cnbc global supply chaineporter and author of trade war containers don't lie. navigating the bluster. lori ann, welcome. so big picture. how much will these tariffs on either side hurt u.s. imports and exports? >> it's going to be massive alex. >> definitely go up on everyday items. so from. >> the cars. >> we buy and. >> the gas we. >> put in them to the. >> iphones, laptops and tablets that we're so dependent on to. >> the clothes we wear and the food we eat like. >> avocados. >> corn, tomatoes. all the prices are going to go up. >> canada. you've got avocados that we consume. all of this is going to add a sticker shock to consumers that are already suffering. you and i both know in terms of how many times the price of eggs, right, has come up into into the to the discussions. and this is far reaching compared to anything that we saw in 2018. even your iphone is going to be tariffed. i'm sorry when it comes to all of this too. i also spoke with sufiya umar. she actually is advising clients in terms of the w

cnbc's senior markets correspondent dominic chu joins us now. if you were able to hear the president's remarks, the last thing he asked was about what the markets were doing. they've been going up and down. tell us what's happening. >> it's been an eventful day, chris. to put it mildly. so. so the last 5 to 7 hours, the day started off, as you might expect, given what could be a highly disruptive set of policies that could upset the entire world economy. the stock market was poised and then actually did open sharply lower, but not by as much as some traders had predicted. now, at the lows of the session, i'm going to put it in juxtaposition for what you're seeing on your screen. the dow was down around 665 points. now, some experts think that that speaks to the strength and resilience of the u.s. market. we were though on pace to finish sharply lower. that is, until those comments from mexican president claudia sheinbaum tweeting out about getting a one month reprieve on tariffs and sending 10,000 troops to the border to help drug trafficking ac

and for that, let's bring in cnbc's silvia amaro, who's live with us from london.tariffs on three of the united states key trading partners. tell us how those tariffs are impacting the global markets this morning. >> good morning ali. good to see you. well at this stage there has been ramifications really across the board. if we look at futures at this stage they suggest it will be a negative start to the trading day on wall street in europe. we're also seeing european equities down, in particular the auto sector, which is down more than 4% at this stage. the dollar is rising. and if we zoom in on oil prices, these are also rising. this morning off the back of the announcement on tariffs for canada and mexico in particular. because just to give you an idea, these tariffs include a 10% duty on energy imports from canada. while mexico and canada are the top sources of u.s. crude imports. so there's an expectation here, ali, that these tariffs will have a short term, an effect in the near future, i should say, for us consumers, when they go to the gas pump, they are l

. >> business and data correspondent brian chung, cnbc. >> global supply chain. >> reporter lori. >> ann larocco. >> a favorite. >> around here. and council. >> on foreign relations senior vice president. >> shannon o'neill. >> all right, everybody. kelly, i'm. >> going to begin with you. >> can you help. >> make sense of the explanations here? because because there have been so many about what these. >> tariffs are supposed. >> to accomplish. >> well. >> the. >> confusion. >> if any of us. >> and our. >> viewers are. >> experiencing it is warranted. >> because there. >> have in fact. >> been many different. >> data points. >> many. >> different comments made that are. >> not all coming together. >> to make. >> this. easily understandable. the president, we know. >> has a. >> long time. >> support for the idea. >> of using tariffs. he has employed them before. >> and he is doing so now. and it. >> is in. >> rendering the. >> kind of response. from mexico and canada are two closest neighbors and allies. to have a flurry of activity to. >> try. >> to get at the heart of this. what is.

joining us now for more on the potential impact is lori ann larocco, cnbc global supply chain reporter and author of trade wars containers don't lie. navigating the bluster. all right, lori, you wrote about the tariffs implemented during trump's first term. first of all, it seems to be unclear if these tariffs have actually been implemented yet. i've been talking to officials in canada, in mexico, and they're frankly asking me the same questions i'm asking them. so do we know if these tariffs are actually in place, and how do they differ from what we saw in trump's first term? >> well, cristina, i've. >> been calling individuals myself. and associations are also wondering if they have indeed been enacted. but as of right now, no, we have not seen anything in terms of an executive order or an emergency order. now, that's going to be what's different, right this time around versus the next back with the 301 tariff, companies had time to prepare. and that's where we saw that huge surge, if you will, of the front loading. and this time around, if it's in an emergency order and it's enacted

i want to bring in cnbc's dominic chu. dom, good morning.so let's talk about the bigger picture, the issue of what. >> is or is. >> not going to happen as far as tariffs. >> so i mean what is or is not going to happen is obviously now very much in a state of flux. right. because we just got this late breaking news about the conversations, negotiations, if you will, between president trump and president sheinbaum in mexico. now, the interesting issue here now is if you have these delays, what exactly that does to reset talks, as you point out, between the us and canada, remember the canadian 25% tariffs already have an exception put in place for them for energy resources. so oil coming across the border will be taxed or tariffed at a 10% level and not the 25% level. what this will do ultimately is still lead to higher prices for certain goods, especially when it comes to things like automobiles. automobiles becomes the key issue here because of the interlinked supply chains that we have in north america. for many of the producers that make th

dan nathan is here, co-founder of risk reversal and a cnbc contributor. former new york prosecutor and civil rights attorney charles coleman jr, and comedian john fugelsang, primetime host on sirius xm progress. charles, let's start with what's happening at the fbi. what do you think? >> well, first of all. >> what we're seeing. >> from donald. >> trump is an. >> attempt to. >> entirely reshape anything. >> we thought we knew about. >> democracy and how it works. >> and for. >> as. >> much as we are. >> paying attention to. what we're looking at retroactively about january 6th, my biggest concern is moving forward. >> if you are a. >> prosecutor or you're someone who's. >> thinking about this. >> office and you're looking at. >> what it. means to investigate. >> and do your job. >> as an independent. >> agent of the court. >> when you're an. >> attorney. >> you're an agent. >> of the court. >> what do. >> you think. >> is going through their minds? if it is something that relates. >> to potential. illegality coming. >> from the. executive branch, are you

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reversal and a cnbc contributor. >> former new york prosecutor. >> sirius xm progress. >> charles, let'sning at the fbi. what do you think? >> well, first of all, what we're seeing from donald trump is an attempt to entirely reshape anything we thought we knew about. democracy and. >> how it works. >> and for as much as we are paying attention to what we're looking at retroactively about january 6th, my biggest concern is moving forward. if you are a prosecutor or you're someone who's thinking about this. office and you're looking at what it means to investigate and do your job as an independent agent of the court, when you're an attorney, you're an agent of the court. what do you think is going through their minds? if it is something that relates to potential illegality coming from the executive branch, are you going to give as. much attention, as many resources, as much effort as you would in prosecuting that case, understanding that it could potentially mean the end of your career as you would if you were operating and had the space to do your job as an independent arbiter of justice.

cnbc saying tariffs are attacks on foreign imports. u.s.usinesses that import those goods pay that tax to the federal government. many businesses will follow those extra costs to consumers, which is why tariffs generally trigger higher prices for consumers. americans could find they have fewer choices for brands and products stopped on store shelves. there are many question marks over these looming tariffs on canada, china, and mexico. if you go to the website for "the toronto star," their headline has this in response. canada hits back on trump tariffs. this was an announcement made by prime minister trudeau yesterday. here is the prime minister talking about these tariffs. [video clip] >> tonight, i am announcing canada will be responding to the u.s. trade action with 25% tariffs against $155 billion worth of american goods. this will include immediate tariffs on $30 billion worth of goods as of tuesday, followed by further tariffs on $125 billion worth of american products in 21 days' time to allow canadian companies and supply chains to

cnbc saying tariffs are attacks on foreign imports. u.s.usinesses that import those goods pay that tax to the federal government. many businesses will follow those extra costs to consumers, which is why tariffs generally trigger higher prices for consumers. americans could find they have fewer choices for brands and products stopped on store shelves. there are many question marks over these looming tariffs on canada, china, and mexico. if you go to the website for "the toronto star," their headline has this in response. canada hits back on trump tariffs. this was an announcement made by prime minister trudeau yesterday. here is the prime minister talking about these tariffs. [video clip] >> tonight, i am announcing canada will be responding to the u.s. trade action with 25% tariffs against $155 billion worth of american goods. this will include immediate tariffs on $30 billion worth of goods as of tuesday, followed by further tariffs on $125 billion worth of american products in 21 days' time to allow canadian companies and supply chains to

you can see how he started cnbc for nbc and started fox for rupert murdoch. here's the situation. and it was it was july of the election. i was down 1984, 1984. i was down 34 points. we had a meeting in louisville and i said, roger, is this race over? and here's what he said. he said, i've never known anybody come from this far behind, this late to win, but i don't think it's over. a very competitive guy. i was running against a pretty smart democratic incumbent who didn't have a lot of obvious vulnerability as we were looking for some kind of issue that a needle in the haystack, if you will. and it turned out this was back in the honorary days, which i didn't have any problem. people making speeches for money. but he had been making speeches for money while he was missing votes on the senate floor. so ailes turned that into a couple of ads featuring a kentucky hunter type person with bloodhounds out looking for huddleston to get him back to work. and it electrified the campaign, got people interested, and it got people talking about it. and then there was a sequel later in which