Treasury Secretary Scott Bessent on the 90 Day Pause 5/12/25

After a weekend of negotiations in Switzerland, the U.S. and China have agreed to a 90-day pause on most of their tariffs. Treasury Secretary Scott Bessent was in the negotiating room, and in his first interview since the meeting, he suggests more meetings between the countries are still to come. CNBC’s Julianna Tatelbaum reports on the news from Geneva, and stateside, the markets recovered most of their losses since March 2nd in early trading immediately following the truce. CNBC’s Phil LeBeau reports on the ground delay currently in effect at Newark Liberty International, the latest issue for the beleaguered airport. Plus, according to sources, President Trump is poised to accept a luxury jet from the Qatari royal family, which he would then use as Air Force One.

Julianna Tatelbaum - 04:41

Scott Bessent - 17:43

Phil LeBeau - 32:26

In this episode:

Scott Bessent, @SecScottBessent

Phil LeBeau, @Lebeaucarnews

Julianna Tatelbaum, @CNBCJulianna

Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie