Trump tariffs a hot topic among CEOs in Davos

The Street

TheStreet’s Conway Mittens brings you the biggest news of the day, including what investors are watching and what Europe’s CEOs have to say about potential Trump-imposed tariffs.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:03Here's what we're watching on the street today.

00:05The S&P 500 rose to a record-closing high above 6,100 on Thursday.

00:10Netflix also hit a lifetime high.

00:13The streaming media giant continues to have a very good week.

00:18Just days after announcing its biggest single quarterly subscriber gain ever,

00:23Netflix received 18 Oscar nominations,

00:2613 of those were for its flick Emilio Perez,

00:29which now holds the record for the most Oscar-nominated foreign language film in history.

00:36Looking ahead to Friday, investors will get key quarterly results from American Express and Verizon.

00:42In other business headlines,

00:44President Trump's tariff plans are front and center at this year's World Economic Forum.

00:49Trump addressed the annual gathering of executives, politicians and thought leaders,

00:54telling them they will face higher tariffs if they don't make products inside the United States.

01:00Quote,

01:01One thing we're going to be demanding is we're going to be demanding respect from other nations.

01:06Trump took direct aim at Canada, one of America's closest trading partners.

01:11Quote,

01:12We have a tremendous deficit with Canada.

01:14We're not going to have that anywhere.

01:17Trump is pushing through with a threat to slap 25% tariffs on Canada and Mexico as soon as February 1st.

01:25He's also threatening an additional 10% tariff on Chinese goods.

01:30The European Union did not come out unscathed.

01:33Trump told global leaders EU tariffs make it hard for American companies to sell within the Eurozone.

01:39Some company executives within the EU hope cooler heads can prevail and a trade war can be avoided,

01:45while others are bracing themselves for a tit-for-tat trade war.

01:49EU leaders are gearing up for the latter, saying publicly that if Trump wants a trade war, he's going to get one.

01:57That'll do it for your daily briefing from the New York Stock Exchange.

02:00I'm Conway Gittins with The Street.

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