Stephen Moore Discusses Trump’s Trade Deals and Tariff Concerns on CNBC Squawk Box

This analysis is based on a 2025-12-29 CNBC Squawk Box segment [1] featuring Stephen Moore, co-founder of Unleash Prosperity and former economic advisor to President Trump. The segment focused on the Trump administration’s role in shaping the 2026 economic outlook. A core comment from Moore was his dual stance: he praised the administration’s negotiated trade deals while expressing worries about ongoing tariff policies [1].

Contextually, 2025 marked a period of global tariff wars under Trump’s second term, with tariffs imposed on multiple countries including China, Canada, and India [0]. These tariffs disrupted global supply chains and contributed to higher consumer prices in the U.S., while the administration argued they would narrow the trade deficit and boost domestic manufacturing [0]. Moore’s mixed views reflect a nuanced take from a conservative economic voice with close ties to the administration, highlighting tensions between perceived trade deal improvements and tariff-related economic costs.

1. Internal Policy Nuance
   : Moore’s critique of tariffs—coming from a Trump ally—indicates potential internal debate within the administration about the economic tradeoffs of tariff policies. This could signal a reevaluation as the administration prepares for 2026.
2. Market Significance
   : As a former advisor, Moore’s comments may carry weight with market participants monitoring tariff policy adjustments, especially for sectors dependent on global trade (e.g., manufacturing, retail).
3. Economic Tension
   : The segment underscores the ongoing tension between trade deal improvements and tariff-related risks, a central theme in 2025’s economic landscape that could persist into 2026 [0].

• Risks
  : Continued tariff uncertainty could maintain volatility in global trade, pressuring supply chains and consumer prices. Market reactions may be heightened if the administration’s policy direction remains unclear, particularly for trade-sensitive industries [0].
• Opportunities
  : Moore’s feedback could prompt the administration to reevaluate tariff policies, potentially easing supply chain disruptions and inflationary pressures in 2026. This could benefit trade-dependent sectors and support consumer spending [0].

• Event
  : CNBC Squawk Box discussion on the 2026 economic outlook, featuring Stephen Moore.
• Date
  : 2025-12-29 (EST).
• Guest Background
  : Stephen Moore is co-founder of Unleash Prosperity and a former economic advisor to President Trump.
• Core Comment
  : Moore praised the Trump administration’s trade deals but expressed concerns about ongoing tariffs.
• Context
  : 2025 was marked by global tariff wars under the Trump administration, with economic impacts including supply chain disruptions and higher consumer prices [0].
• Information Gaps
  : Full segment transcript and details on specific trade deals Moore referenced are unavailable, limiting deeper analysis.