Megan Cassella
@megancnbc.bsky.social
Washington correspondent for CNBC. megan.cassella@nbcuni.com. Instagram: @megancnbc. Signal: megan.27
Some new(ish) art on display in the West Wing of the White House
September 11, 2025 at 7:56 PM
Some new(ish) art on display in the West Wing of the White House
With his IEEPA tariff powers in jeopardy, President Trump is now threatening to use a different trade tool, known as Section 301, to push back on the EU over its fines on Google and other U.S. tech companies.
Would require an investigation, but could lead to steep new tariffs on the EU.
Would require an investigation, but could lead to steep new tariffs on the EU.
September 5, 2025 at 7:19 PM
With his IEEPA tariff powers in jeopardy, President Trump is now threatening to use a different trade tool, known as Section 301, to push back on the EU over its fines on Google and other U.S. tech companies.
Would require an investigation, but could lead to steep new tariffs on the EU.
Would require an investigation, but could lead to steep new tariffs on the EU.
Interesting color in the administration's motion to SCOTUS to expedite the tariffs case from Treasury Sec. Bessent, who says the appeals court ruling on Friday against Trump's tariffs is already impacting trade talks:
"World leaders are ... walking away from or delaying negotiations," he says.
"World leaders are ... walking away from or delaying negotiations," he says.
September 4, 2025 at 6:01 PM
Interesting color in the administration's motion to SCOTUS to expedite the tariffs case from Treasury Sec. Bessent, who says the appeals court ruling on Friday against Trump's tariffs is already impacting trade talks:
"World leaders are ... walking away from or delaying negotiations," he says.
"World leaders are ... walking away from or delaying negotiations," he says.
Pres. Trump this morning says “trillions” of dollars are being collected in tariff revenue. The Peterson Institute’s latest estimates show just $93.9 billion has been collected through the first six months of this year.
August 12, 2025 at 2:33 PM
Pres. Trump this morning says “trillions” of dollars are being collected in tariff revenue. The Peterson Institute’s latest estimates show just $93.9 billion has been collected through the first six months of this year.
Just spoke with an administration official about the President’s decision to fire the BLS commissioner. Some takeaways:
1. The firing was due to what the White House sees as a “pattern of incompetence.” The possibility of firing her had been on the President’s radar for months.
1. The firing was due to what the White House sees as a “pattern of incompetence.” The possibility of firing her had been on the President’s radar for months.
August 1, 2025 at 7:29 PM
Just spoke with an administration official about the President’s decision to fire the BLS commissioner. Some takeaways:
1. The firing was due to what the White House sees as a “pattern of incompetence.” The possibility of firing her had been on the President’s radar for months.
1. The firing was due to what the White House sees as a “pattern of incompetence.” The possibility of firing her had been on the President’s radar for months.
A White House official confirms to me this means all aspects of the status quo with Mexico hold, including exemptions for USMCA-compliant goods.
July 31, 2025 at 3:17 PM
A White House official confirms to me this means all aspects of the status quo with Mexico hold, including exemptions for USMCA-compliant goods.
More trade news tonight: Trump says he’ll raise tariffs on Canadian imports to 35%, effective Aug. 1.
Tariffs on Canada are currently set at 25% (over fentanyl), with exemptions for USMCA-compliant trade, and 10% (for energy). The letter suggests the 35% rate would supersede all of that.
Tariffs on Canada are currently set at 25% (over fentanyl), with exemptions for USMCA-compliant trade, and 10% (for energy). The letter suggests the 35% rate would supersede all of that.
July 11, 2025 at 12:32 AM
More trade news tonight: Trump says he’ll raise tariffs on Canadian imports to 35%, effective Aug. 1.
Tariffs on Canada are currently set at 25% (over fentanyl), with exemptions for USMCA-compliant trade, and 10% (for energy). The letter suggests the 35% rate would supersede all of that.
Tariffs on Canada are currently set at 25% (over fentanyl), with exemptions for USMCA-compliant trade, and 10% (for energy). The letter suggests the 35% rate would supersede all of that.
News here: Trump says he’s considering raising the blanket tariff on nearly all imports, currently set at 10%, another 5 or 10 percentage points, @NBCNews reports.
July 11, 2025 at 12:08 AM
News here: Trump says he’s considering raising the blanket tariff on nearly all imports, currently set at 10%, another 5 or 10 percentage points, @NBCNews reports.
We are in new territory with Trump’s latest trade letter, threatening a 50% tariff on imports from Brazil starting Aug. 1
—The US runs a rare trade surplus with Brazil, so there’s no deficit to fix
—Trump says these duties are explicitly over political concerns, not economic ones
—The US runs a rare trade surplus with Brazil, so there’s no deficit to fix
—Trump says these duties are explicitly over political concerns, not economic ones
July 9, 2025 at 9:26 PM
We are in new territory with Trump’s latest trade letter, threatening a 50% tariff on imports from Brazil starting Aug. 1
—The US runs a rare trade surplus with Brazil, so there’s no deficit to fix
—Trump says these duties are explicitly over political concerns, not economic ones
—The US runs a rare trade surplus with Brazil, so there’s no deficit to fix
—Trump says these duties are explicitly over political concerns, not economic ones
Trump yesterday on if his Aug. 1 tariff deadline was firm:
"No, I would say firm, but not 100% firm. If they call up and they say, we’d like to do something a different way, we're going to be open to that. But essentially, that's the way it is right now."
Trump today:
"No, I would say firm, but not 100% firm. If they call up and they say, we’d like to do something a different way, we're going to be open to that. But essentially, that's the way it is right now."
Trump today:
July 8, 2025 at 3:13 PM
Trump yesterday on if his Aug. 1 tariff deadline was firm:
"No, I would say firm, but not 100% firm. If they call up and they say, we’d like to do something a different way, we're going to be open to that. But essentially, that's the way it is right now."
Trump today:
"No, I would say firm, but not 100% firm. If they call up and they say, we’d like to do something a different way, we're going to be open to that. But essentially, that's the way it is right now."
Trump today:
New batch of letters out now, and the pattern holds:
July 7, 2025 at 8:46 PM
New batch of letters out now, and the pattern holds:
So far, the tariff rates the President is sending to countries today either closely match or are slightly lower than what he threatened on April 2.
So both in terms of tariff rates and deadlines, this is a slightly softer stance overall. Nothing takes effect until Aug. 1.
So both in terms of tariff rates and deadlines, this is a slightly softer stance overall. Nothing takes effect until Aug. 1.
July 7, 2025 at 6:53 PM
So far, the tariff rates the President is sending to countries today either closely match or are slightly lower than what he threatened on April 2.
So both in terms of tariff rates and deadlines, this is a slightly softer stance overall. Nothing takes effect until Aug. 1.
So both in terms of tariff rates and deadlines, this is a slightly softer stance overall. Nothing takes effect until Aug. 1.
Pres. Trump says he's reached a new trade framework with Vietnam, one that would lead to a 20% tariff on all Vietnamese exports to the U.S. and a 0% tariff on all U.S. exports to Vietnam.
Lots to unpack here! In the thread.
Lots to unpack here! In the thread.
July 2, 2025 at 3:54 PM
Pres. Trump says he's reached a new trade framework with Vietnam, one that would lead to a 20% tariff on all Vietnamese exports to the U.S. and a 0% tariff on all U.S. exports to Vietnam.
Lots to unpack here! In the thread.
Lots to unpack here! In the thread.
On tariffs, Trump says today he’ll be sending out a letter to countries “over the next week and a half or so, maybe before … to tell them what they have to pay to do business in the United States. And it’s going to go very quickly.”
If that timeline sounds familiar..👇🏼
If that timeline sounds familiar..👇🏼
June 27, 2025 at 5:26 PM
On tariffs, Trump says today he’ll be sending out a letter to countries “over the next week and a half or so, maybe before … to tell them what they have to pay to do business in the United States. And it’s going to go very quickly.”
If that timeline sounds familiar..👇🏼
If that timeline sounds familiar..👇🏼
As currently written in the executive orders, those higher, country-specific tariff rates will once again take effect July 9th — unless/until that gets overwritten or amended
June 26, 2025 at 5:56 PM
As currently written in the executive orders, those higher, country-specific tariff rates will once again take effect July 9th — unless/until that gets overwritten or amended
VANCE: "Our view has been very clear that we don't want a regime change."
HEGSETH: "This mission was not and has not been about regime change."
RUBIO: Regime change is "certainly not the goal of what we're working on here."
TRUMP:
HEGSETH: "This mission was not and has not been about regime change."
RUBIO: Regime change is "certainly not the goal of what we're working on here."
TRUMP:
June 22, 2025 at 9:22 PM
VANCE: "Our view has been very clear that we don't want a regime change."
HEGSETH: "This mission was not and has not been about regime change."
RUBIO: Regime change is "certainly not the goal of what we're working on here."
TRUMP:
HEGSETH: "This mission was not and has not been about regime change."
RUBIO: Regime change is "certainly not the goal of what we're working on here."
TRUMP:
A federal appeals court ruled overnight that Trump’s tariffs can stay in place while the court decides whether he has the power to impose them under IEEPA
Remember: Court of Intl Trade already found that he does not. But this ruling allows tariffs to stay in place while the WH appeals that decision
Remember: Court of Intl Trade already found that he does not. But this ruling allows tariffs to stay in place while the WH appeals that decision
June 11, 2025 at 1:23 PM
A federal appeals court ruled overnight that Trump’s tariffs can stay in place while the court decides whether he has the power to impose them under IEEPA
Remember: Court of Intl Trade already found that he does not. But this ruling allows tariffs to stay in place while the WH appeals that decision
Remember: Court of Intl Trade already found that he does not. But this ruling allows tariffs to stay in place while the WH appeals that decision
Trump says the total tariff rate vs China is 55% — but a White House official clarifies for me this is NOT a new escalation in tariffs
The additional tariff so far this term is still at 30%, as agreed after Geneva. That adds to the 25% tariff already in place before this term
The additional tariff so far this term is still at 30%, as agreed after Geneva. That adds to the 25% tariff already in place before this term
June 11, 2025 at 12:58 PM
Trump says the total tariff rate vs China is 55% — but a White House official clarifies for me this is NOT a new escalation in tariffs
The additional tariff so far this term is still at 30%, as agreed after Geneva. That adds to the 25% tariff already in place before this term
The additional tariff so far this term is still at 30%, as agreed after Geneva. That adds to the 25% tariff already in place before this term
Trump announces the next U.S.-China trade meeting will take place on Monday in London.
“The meeting should go very well,” he says.
“The meeting should go very well,” he says.
June 6, 2025 at 6:32 PM
Trump announces the next U.S.-China trade meeting will take place on Monday in London.
“The meeting should go very well,” he says.
“The meeting should go very well,” he says.
The Trump-Musk war of words appears to be escalating
June 5, 2025 at 4:59 PM
The Trump-Musk war of words appears to be escalating
A(nother) direct shot here at China, the primary buyer of Iranian oil
Two notes:
— One social media post does not = policy
— The similar “secondary sanctions” against buyers of Venezuelan oil were signed via EO but still have yet to be implemented
So: more to watch
Two notes:
— One social media post does not = policy
— The similar “secondary sanctions” against buyers of Venezuelan oil were signed via EO but still have yet to be implemented
So: more to watch
May 1, 2025 at 6:42 PM
A(nother) direct shot here at China, the primary buyer of Iranian oil
Two notes:
— One social media post does not = policy
— The similar “secondary sanctions” against buyers of Venezuelan oil were signed via EO but still have yet to be implemented
So: more to watch
Two notes:
— One social media post does not = policy
— The similar “secondary sanctions” against buyers of Venezuelan oil were signed via EO but still have yet to be implemented
So: more to watch
The irony in all of this of course is that a major reason why the Fed isn’t cutting rates is the uncertainty created by Trump’s own tariffs
April 21, 2025 at 1:57 PM
The irony in all of this of course is that a major reason why the Fed isn’t cutting rates is the uncertainty created by Trump’s own tariffs
A White House official tells me today this post should not be seen as a threat to fire Powell.
It’s more of an airing, or re-airing, of grievances and frustrations with the central bank chair. And the President is looking forward to the scheduled end of Powell’s term.
It’s more of an airing, or re-airing, of grievances and frustrations with the central bank chair. And the President is looking forward to the scheduled end of Powell’s term.
April 17, 2025 at 4:33 PM
A White House official tells me today this post should not be seen as a threat to fire Powell.
It’s more of an airing, or re-airing, of grievances and frustrations with the central bank chair. And the President is looking forward to the scheduled end of Powell’s term.
It’s more of an airing, or re-airing, of grievances and frustrations with the central bank chair. And the President is looking forward to the scheduled end of Powell’s term.
There may well be a point at which the White House changes its posturing and shows openness to negotiations. But for now, truly every signal so far suggests they are not worried about the markets plummeting, and they are in this for the long haul
April 7, 2025 at 1:50 PM
There may well be a point at which the White House changes its posturing and shows openness to negotiations. But for now, truly every signal so far suggests they are not worried about the markets plummeting, and they are in this for the long haul