USTR Jamieson Greer & a GPU Lifecycle 8/24/26

**SPEAKER_1** (0:00)
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**SPEAKER_2** (0:27)
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**Joe Kernen** (0:56)
Bring in show music, please.

**Cameron Costa** (1:00)
This is Squawk Pod and I'm CNBC producer, Cameron Costa. On today's episode, trade talks between the US and Canada collapsing. US trade representative, Jamieson Greer, on the developments and on the friction.

**Jamieson Greer** (1:15)
We set about to finalize it, and then in the last hours, I think there were things that the Canadians just, you know, they wanted more.

**Cameron Costa** (1:22)
Plus the impact for American consumers.

**Jamieson Greer** (1:26)
This is 5% of imports from Canada. It's 0.06% of our overall consumption in this economy. So there's no possible way it can really affect US well-being.

**Cameron Costa** (1:38)
Then where do all the GPUs go when a chip maker rolls out a new model? Sprout is recycling and refurbishing chips, and CEO Shelly Li is seeing a server life cycle much longer than we originally expected.

**Shelly Li** (1:52)
One of the things that these big chip makers didn't intend for is making a chip that lasts six, seven, eight, nine years. And so what we're seeing now is, you know, these GPUs are made really, really well, but they're sitting in data centers that just absolutely run them to the ground.

**Cameron Costa** (2:08)
But first, the other big stories of the day, including Nvidia's interest in Perplexity, an economic D-Day for Iran, and bonds, bonds, bonds. After Treasury yields surged to levels not seen in nearly 20 years, Treasury Secretary Scott Bessent said last week that the department would double its government debt repurchases. Today, Treasury officials told our own Steve Liesman how they plan to fund the buybacks.

**Steve Liesman** (2:36)
Using the Treasury general account, essentially, its rainy day fund would provide the Treasury with considerable firepower to influence long-term bond yields.

**Cameron Costa** (2:45)
It is Monday, August 24th, and Squawk Pod begins right now.

**SPEAKER_8** (2:50)
Stand Becky by in 3, 2, 1, cue please.

**Becky Quick** (2:56)
Good morning, everybody. Welcome to Squawk Box right here on CNBC. We are live from the NASDAQ market site in Times Square. I'm Becky Quick, along with Joe Kernen and Andrew Ross Sorkin. Gangs all back together here. Let's take a look at what's been happening.
Yeah, that's us. Yeah. Three years company.

**Joe Kernen** (3:13)
Trump administration is getting ready to lay out new economic penalties against Iran and in Financial Times, op-ed Treasury Secretary Bessent called today's Economic D-Day. That's what he's calling it for Iran, echoing language used by President Trump last week. Bessent says after decimating Iran's military capabilities, the US is in his words, entering the endgame. He writes that those who fear that the danger of defying Tehran ought not to discount the cost of testing Washington. The president has created the conditions to leverage every agency, every authority and action that many assumed we would never summon any remaining tie to Tehran will hasten the economic ostracism of countries and entities, whether that tie be purposefully constructed or just willfully ignored.
Yesterday, Iran's foreign minister dismissed the new threat of new US sanctions as a sign of desperation. Iran's Persian Gulf Strait Authority also warned that vessels violating its transit rules in the Strait of Hormuz could face penalties, including future ship seizures. Now.

**Becky Quick** (4:24)
This is targeted.

**Joe Kernen** (4:25)
Right.

**Becky Quick** (4:26)
Basically.

**Andrew Ross Sorkin** (4:26)
Well, that's going to be the very, I mean, I'm fascinated like everybody else to see what he's going to say at two o'clock, because the idea that he's selling China and that so much time is going to listen. I don't know. Maybe they will listen. I hope they listen. I mean, I don't know what I hope for, but I just it seems very hard to believe that China is going to turn around on this issue.