In an extended interview, U.S. Treasury Secretary Scott Bessent addresses the administration’s approach to tariffs, negotiations with Iran, and his own view on America’s AI dominance and regulation, and the future of the Federal Reserve. The morning after the NYC primary elections, Sec. Bessent also weighs in on the future of the Democratic Party. Plus, Google parent Alphabet has replaced Verizon in the Dow Jones Industrial Average. Sec. Scott Bessent - 16:24 In this episode: Scott Bessent, @SecScottBessent Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Treasury Sec. Scott Bessent: Mayor Mamdani is Leading Democrats 6/24/26

Squawk Pod

# Full Transcript

**Podcast:** Squawk Pod

## Participants

- **Katie Kramer** (CNBC)
- **Joe Kernan** (CNBC)
- **Becky Quick** (CNBC)
- **Scott Bessent** (United States Treasury (Secretary))

## Transcript

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[SPEAKER_08] Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, Treasury Secretary Scott Bessent, a robust conversation that starts with tariffs.

[SPEAKER_03] We have rebooted the tariff program right now. We have something called Section 122 tariff, which is a 10 percent global tariff.

[SPEAKER_08] And covers the New York City political primaries.

[SPEAKER_03] Last night we saw the Mayor Mamdani is the leader of the Democratic Party and the establishment Democrats. Finally, we are seeing where the Democrats are going in this election.

[SPEAKER_08] Plus, America's role in writing the rules of the road for AI.

[SPEAKER_03] I think we have the obligation to do it because we're the leader. We are the AI superpower. China's next. And, you know, France is a distant third.

[SPEAKER_08] Plus, the rest of today's news that got us squawking. Oil prices, the newest Dow component, and...

[SPEAKER_06] Remember the sheriff on the rifleman?

[SPEAKER_08] No. I don't even remember the rifleman. It is Wednesday, June 24th. Squawk Pod begins right now.

[SPEAKER_06] Stand Becky by in 3, 2, 1, cue it please.

[SPEAKER_09] Good morning, everyone. 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 Kernan. Andrew is out today.

[SPEAKER_06] Take a look at crude prices, which we... It's one of the first things we look at in the morning. And we're 72 now. Almost 71. President Trump putting energy companies on notice earlier this morning in a post on True Social. The president wrote that the big oil companies aren't dropping their price at the pump commensurate with the s...

Treasury Sec. Scott Bessent: Mayor Mamdani is Leading Democrats 6/24/26

Transcript

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Every day you wait, your competitors are finding
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Treasury Sec. Scott Bessent: Mayor Mamdani is Leading Democrats 6/24/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.