Gary Cohn, IBM vice chairman and former National Economic Council Director under President Trump, joins 'Squawk Box' to discuss the state of the economy, June's CPI data, President Trump's tariff agenda,

Some top executives at Wall Street banks have been showing concern about higher inflation and potential deterioration of the U.S. economy as tariffs take effect, noting there has been more cautious behavior from corporate clients.

The consumer price index for June show that Trump tariffs began to nudge inflation only modestly higher last month.

Walmart, Mitsubishi, and Nike are raising prices, citing Trump’s tariffs as inflation climbs—highlighting the trade war’s growing impact on U.S. consumers.

June’s inflation report will be looked at not so much for what the headline numbers show than what’s in the underlying data.

But while the underlying narrative remains that there will be a negative impact on the economy going forward, there is some hope that it will not be quite as bad as feared, according to a new survey of economists.

President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

Plus, the Justice Department has subpoenaed 20 doctors and clinics involved in “performing transgender medical procedures on children.”