Trump Tariffs Countdown, Tesla's Delivery Miss, Triple Whammy for Musk 4/2/25

SPEAKER_1 (0:00)

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Carl Quintanilla (1:29)

Market Moving Insight and Analysis join Jim Cramer, David Faber and me, Carl Quintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. Futures are red as today's tariff announcement in the Rose Garden is on deck. Four p.m. Eastern Time. We'll see if some elements are floated in advance. The flight to bonds definitely continues. Ten year today, 412 Our roadmap begins with the president's tariff announcement coming down to the wire. What's at stake for the markets and businesses around the globe?

David Faber (2:02)

Also ahead, data shows that sales of Tesla's China-made EVs fell in March by double digits. That's from a year ago. Of course, we're also awaiting the release of the company's quarterly delivery numbers. Boeing CEO, Kelly Orkberg, is set to testify in Capitol Hill. This is about improving safety standards at that company. He's going to appear before the Senate or a Senate committee. That'll be in the next hour.

Carl Quintanilla (2:26)

Let's begin with the markets as investors look ahead to the tariff announcement this afternoon. Jim, we do have at least an official schedule.

Jim Cramer (2:32)

Right, we do.

Carl Quintanilla (2:32)

Where Caroline Levitt will preview, I guess, maybe something. There'll be some discussions with industry leaders after the Rose Garden.

Jim Cramer (2:40)

I mean, it looks like it's a many multiple-hour extravaganza. I look at this and I say it's still probably in progress. I don't think anything's really been decided yet because there is an element of surprise because it is the president. David, I hear people say that it's really morphed into we're going to raise a lot of money and you're going to get a tax cut. And that's the new dynamic because that's a much more pro-constructive dynamic.

David Faber (3:09)

Well, that would also lend itself, and again, we're all guessing at this point. It's really hard not to.

Jim Cramer (3:15)

Guessing's wrong.

David Faber (3:16)

But isn't that what we're doing?

Jim Cramer (3:18)

We're noodling. Well, guessing sounds like that we're like out there and say, listen, hey, chief, what are you thinking? We're not doing anything, chief.

David Faber (3:25)

Could be reciprocal. Could not be. Could be 15% across the board. Could not be. Could be 20%. Could be, I mean, I don't know. Isn't that guessing?

Jim Cramer (3:34)

Well, I just thought that that excellent piece from Washington Post yesterday, which said 20% or most, gave you a kind of a guardrail of how far we can go.

Carl Quintanilla (3:42)

Although today, Jeff Stein revised us to think maybe this 15 number is also going to come on the table, too.

Jim Cramer (3:48)

Well, I mean, he gave us the worst case yesterday. I wish he hadn't gone back.

David Faber (3:51)

Right. So, yeah, the market may like 15 if you're going and expecting 20 I mean, the one thing-

Jim Cramer (3:56)

Why don't you just say this? Why don't you say, look, no matter what, Jim, the video will be down. Why don't you just do that?

David Faber (4:00)

Okay.

Jim Cramer (4:01)

Why don't you give me something that's not guesswork?