In remarks in the Rose Garden on April 2, <a href="https://www.cnbc.com/2025/04/02/trump-tariffs-live-updates.html">President Trump announced steep tariff rates</a> 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 <a href="https://www.cnbc.com/2025/04/03/how-did-the-us-arrive-at-its-tariff-figures-.html">administration’s calculus in arriving at these numbers</a>. 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, <a href="https://x.com/steveliesman">@steveliesman</a>Phil LeBeau, <a href="https://twitter.com/Lebeaucarnews?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">@Lebeaucarnews</a>Courtney Reagan, <a href="https://twitter.com/CourtReagan?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">@courtreagan</a>Howard Lutnick, <a href="https://x.com/howardlutnick?lang=en">@howardlutnick</a>Becky Quick,<a href="https://twitter.com/beckyquick?lang=en"> @BeckyQuick</a>Joe Kernen, <a href="https://twitter.com/joesquawk?lang=en">@JoeSquawk</a>Andrew Ross Sorkin, <a href="https://x.com/andrewrsorkin">@andrewrsorkin</a>Katie Kramer,<a href="https://twitter.com/Kramer_Katie"> @Kramer_Katie</a>

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

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