CNBC Daily Open: Tariffs in spotlight — and Trump has a new name for a lake
President Donald Trump's administration is reportedly mulling over new tariffs on chips, while Nvidia increases support for Chinese AI models.
US Commerce Secretary Howard Lutnick told reporters outside a federal court on Thursday that the demolition of the Kennedy Center will be an "eventuality" if President Donald Trump fails to add his name to the building. However, Lutnick dismissed the possibility of such a decision happening soon, stating that "Bad things happen, but they’re not going to happen on Thursday."
Lutnick supported the board's decision to add Trump's name, saying it is a matter between the board and the President. The hearing came as federal Judge Christopher Cooper questioned the cultural center's plans to add Trump's name, expressing concern that it could occur before he decides on its legality. Cooper described the timeline as arbitrary and warned that he may issue a temporary order to stop the center from adding Trump's name if it doesn't change its plans.
The DOJ attorney argued that without Trump's name, the center could become unsafe and decrepit, leading to its demolition and the loss of donors and funding for renovations.
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