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Quest Means Business

U.S. and E.U. Spell Out Highly Anticipated Terms of Deal; US to Apply 15 Percent Tariff to Most E.U. Good Under Deal; Walmart Warns that Tariffs are Pushing Costs Up; Trump Says He'll Join Law Enforcement on D.C. Streets Tonight; Pharmaceuticals Avoid Sky-High Tariffs in U.S.-E.U. Deal; Video of TikTok Employees Confirms Goals to Make People Addicted to the Platform. Aired 4-5p ET

Aired August 21, 2025 - 16:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[16:00:07]

RICHARD QUEST, CNN INTERNATIONAL HOST, "QUEST MEANS BUSINESS": Closing bell ringing on Wall Street. It is Cummins ringing the closing bell today. The

Dow has been down throughout the whole session. Not hugely, bit of a rally back. It is just unease, and I don't know, a general worry about gains and

giving back gains and a strong one -- oh, well, there we go.

Trading is over. Those are the markets and these are the main events of the day: The devil is in the detail. The E.U. and the U.S. are laying out the

terms of their new trade deal.

Walmart's earnings show consumers are now paying a price for Donald Trump's tariffs, and it is the threat of a U.S. pharma tariffs that's caused its

fair share of worry in one Irish town. We will visit the county responsible for the entire world's supply of Botox. Not a bit of it.

Live from New York, Thursday, August the 21st. I am Richard Quest and I mean business.

Good evening.

The United States and the European Union, the world's two largest trading blocs, have spelt out their details of the new trade relationship between

them. The framework agreement puts into place and formalizes the deal that you saw struck last month in Scotland between Donald Trump and Ursula von

der Leyen. And at its very core, the 15 percent U.S. tariff on most European goods.

The bloc's trade commissioner says the deal spares a trade war and also strengthens transatlantic bonds.

(BEGIN VIDEO CLIP)

MAROS SEFCOVIC, E.U. TRADE COMMISSIONER: This is the most favorable trade deal the. U.S. has extended to any partner. A wide range of sectors

including strategic industries such as cars, pharmaceuticals, semiconductors and lumber will benefit from this cap.

(END VIDEO CLIP)

QUEST: The devil is in the detail because as the framework was presented as a first step. So this is where we stand: The U.S. is going to put a 15

percent tariff on most E.U. goods. The E.U. will now work to remove all its tariffs on all U.S. goods. The words that they use is basically the United

States -- the European Union intends to eliminate tariffs on all U.S. industrial goods and provide preferential market access. Only then will the

U.S. lower its tariff on European cars from a whopping 27.5 to 15 percent.

Anna Cooban is in London.

The critics said that the original deal was if you were like, all talk and no trousers. Well, we've now got the trousers in a sense. But, the E.U. has

had to -- it doesn't get the better deal on cars, just yet.

ANNA COOBAN, CNN BUSINESS AND ECONOMICS REPORTER: No. And what the U.S. has essentially done, Richard is really laid down the gantlet to the E.U. You

need to open your market to our products in a pretty profound way, pretty significant difference to what has been before. And if not, then I am

sorry. You're not going to have your 15 percent tariff on your car exports, which are a really important part of the European economy.

Now, when I say open up the market quite profoundly, what they want to do is raise tariffs down to zero on industrial goods, and they want to make it

easier for U.S. products to penetrate the European market and they are pretty detailed about this.

They've got tree nuts. They've got seafood. They've got a whole variety of imports there, and I don't know if you've ever tried to get agreement

between 27 different people, but that is essentially what the E.U. now needs to do. It now needs to go to its 27 member states and get them to

agree to this pretty steep demand from the U.S. and whenever you've tried to get agreement from people, anything to do with money exchanging hands,

it is probably going to be quite controversial.

Will the E.U. be able to do this? I don't know.

QUEST: Right. So the whole deal on autos rests on this ability to get the deal done within the European Union.

COOBAN: Yes. So what the E.U. needs to do in order to get this 15 percent tariff on its cars, down from the current 27.5 percent is institute a

formal legal process which can take quite a long time with E.U. mechanisms, and then only after that has been put in place, an agreement has been had

between the nation states to launch this process can the E.U. carmakers get their 15 percent.

QUEST: Right. Now, we are going to talk about this in just a moment with our next guest, because the text sheds light on the agreement and if we

look at this text where there is much more work to be done, the joint statement itself is only four pages.

But, Anna, it crucially includes phrases like the European Union intends to procure U.S. energy products and that it intends to purchase $40 billion

worth of U.S. A.I. chips, and that its going to do this and expects to do that, but there is no specificity.

COOBAN: Exactly, and I think if you read that again, you can see there is a $600 billion sort of intention to invest -- for E.U. companies to invest in

U.S. companies. Now, the E.U. as legislative body, as a political body, can encourage its companies to invest in the U.S., but it can't ultimately

force them to do so.

So as you've mentioned, it is a lot -- you know, a lot remains to be seen. It is going to be difficult to really enforce this agreement.

QUEST: Thank you. Anna is in London.

Brando Benifei is a European lawmaker and the Chair of the European Parliament Delegation for Relations with the United States. He joins me

now.

Good evening, sir.

So there are two distinct sides to this. Let's just first of all, focus on what Anna was talking about on the first bit. You don't get the cheaper

tariff on cars unless you eliminate tariffs on all U.S. industrial goods and provide preferential market access for seafood, agriculture, nuts,

trees, dairy, fresh, et cetera, et cetera. You've read it.

How easy will it be to get the union members to agree to that bit?

BRANDO BENIFEI, MEMBER OF EUROPEAN PARLIAMENT: Well, it will not take a long time, to be honest, because the Commission can initiate a legislative

procedure on this quite soon. In fact, we expect this to start before the end of August.

Then the member states and the European Parliament, so like -- it is like the United States' states and the Congress of the U.S. For the E.U., we

will have to agree. To be honest, I think it will be easier to make it quicker to be concluded if we actually continue negotiating on the

agricultural goods and industrial goods that are exported from E.U. to U.S. to obtain some exemptions.

In fact, if you read further --

QUEST: But, sir! But, sir --

BENIFEI: -- in the text this is also the possibility that there is further negotiation to find some exemptions for certain goods. And if I may add

also on steel and aluminum, that still stays at 50 percent tariffs.

So yes, we will need to go quick to get the 15 percent on cars, but I see space for -- and the need to be frank -- for further negotiation on

agricultural and industrial goods.

QUEST: Well, you're going to end up with a battle within E.U. members because you're going to have the automobile exporting countries,

particularly Germany, wanting that, but you're going to have the agricultural countries, say, or a lot of the Southern European countries

like your own saying, oh, we do not want this vast amount of U.S. agricultural imports coming in.

BENIFEI: Well, I think we can find a balance, but we need probably some further steps from the U.S. side on exemptions on certain agricultural and

industrial products.

If you heard the press conference of Trade Commissioner Sefcovic, he mentioned explicitly that we were disappointed that we didn't manage to get

indications on this, that we would get some exemptions and also steel and aluminum stays at 50 percent, and this is in the long term not acceptable.

So these are the sticking points that if we get a bit more from the U.S. side, and I am optimistic that we can get some openings on that, I am

convinced we can get what the U.S. is demanding today.

But presently, without this further steps, this deal seems a bit unbalanced and I think it will be difficult to pass through without some further work

that I think will happen in the next weeks.

QUEST: Now why now -- but why should we have any confidence that you will get greater concessions? I will tell you why. Firstly, because back in

Scotland, the deal was regarded as very one sided. The deal was regarded as being a great win for the United States. Now we see the framework and

again, the U.S. gets far more out of it. The U.S. has got its own way.

So why are you so confident that there will be a rebalancing in the next stage of negotiations, when the union has failed twice so far?

BENIFEI: I am confident because the European public and the European businesses are saying clearly that they want stability and clarity, but

this cannot be for any -- at any cost.

[16:10:12]

So we need to clarify some aspects to make the deal balanced, and I think this work will continue. Otherwise, we can still use counterbalancing

measures. It is true that the E.U. and the E.U. Commission spearheading the negotiation, has chosen to work for a deal, and we all want a deal, but it

cannot be at any cost, and still some work needs to be done.

QUEST: And then we come to this very vague bit about the investments and the energy. Your smile tells me all I need to know.

The union intends to procure gas, intends to purchase, will endeavor or expected. Nobody for a second believes that half of this is going to

happen.

BENIFEI: Well, I think that is a bit exaggerated. I was smiling because the numbers, the billions and billions that you read in the text are a little

too much in the sense that this needs to be done with proper procedures. And as it was said earlier, it is also in the hands of the private sector.

But I have to say, I see the space for that. Think of the increase also of the defense work at European level, but also investment on having more high

quality A.I. chips. And so there can be space for that, but probably precise numbers are a bit premature.

QUEST: Sir, I am grateful to you for joining us tonight. Thank you.

BENIFEI: Thank you very much.

QUEST: We will talk more. Thank you.

BENIFEI: Thank you.

QUEST: Now, yesterday we discussed Target's slowing sales and the departure of the chief exec. Walmart's quarterly earnings were much different. Sales

were up nearly five percent in the U.S. stores, open for at least a year, same day-same store sales as it is known.

Walmart says it is increasing its market share across income groups. The retailer also raised its sales outlook, and it did miss on profits, so

shares were down a bit, but the company says tariffs are pushing its costs higher each week.

Vanessa is with me.

All right, so the core point is I think on tariffs at this moment. How much is Walmart or Walmart suppliers eating of the cost of the tariffs, and how

much are they going to be able to or are they passing on or do they expect to pass on?

VANESSA YURKEVICH, CNN BUSINESS AND POLITICS CORRESPONDENT: Yes, and I listened to that one hour earnings call from Walmart earlier this morning,

and they said that their merchants, their suppliers were doing a good job mitigating a lot of the cost increase. So that shows that their suppliers

have been able to take some of that burden.

But Walmart also says that they simply have had to pass some prices -- some price hikes down to consumers. And really, though, consumers have not

reacted to those price hikes yet according to Walmart, they've actually been spending quite a lot boosting their grocery store category. E-commerce

is up.

At the end of the day, Walmart is probably, Richard, the best positioned retailer to absorb the cost of tariffs, particularly because of their

scope, their size, and obviously their balance sheet.

But they did say that they have to raise prices because they simply can't absorb it all. But really, the retailer probably in the best position right

now of all of them out there to take a hit like this.

QUEST: And if we look at the performance overall, whilst Target has been up -- has been losing its footing, the sheer size and scale of Walmart, even

with the littles and the oldies coming in and all the other lower cost, high value retailers, Walmart is still a behemoth.

It hasn't fully cracked the online, it hasn't fully cracked the Amazon only a bit yet, but it is very powerful.

YURKEVICH: Yes, and it is everywhere, especially here in the United States. I mean, there are thousands of stores, and really, when people go to

Walmart, they go for a particular reason, right? They're going grocery store shopping, or they're buying back-to-school items, and they know that

they are going to get a good price.

And as you mentioned in your intro, really Walmart has seen growth across all income. So you're talking about lower income individuals, all the way

up to high earners. They did say though in this earnings call that they did see their lower income families start to pull back in discretionary

spending. That's a little bit of a concerning sign just because discretionary obviously spending is where people start to pull back first

when they start to get nervous about the economy.

But really, overall, Walmart shares, yes, we are down at the end of the day, down nearly 4.5 percent because they missed sort of profit what

Walmart was expecting on profits, but really has posted strong sales amid so much tariff pressure and so much uncertainty.

[16:15:08]

And they did say that they are expecting price hikes week after week, but they are still going to try to absorb as much as possible because they know

that consumers are still coming to Walmart and still spending, despite really the uncertainty in the economy right now -- Richard.

QUEST: It is almost a perfect storm, isn't it?

YURKEVICH: Yes.

QUEST: Thank you, Vanessa. Glad you were on the call. Thank you very much.

YURKEVICH: Thanks.

QUEST: QUEST MEANS BUSINESS this evening, as we continue, you and I, Israel's Prime Minister is indicating he will approve a plan to take

control of Gaza City, while also ordering the immediate start of negotiations to end the war, but of course, on Israel's terms.

QUEST MEANS BUSINESS. Good evening to you.

(COMMERCIAL BREAK)

QUEST: Israel's Prime Minister Benjamin Netanyahu is indicating he will approve plans to launch a full scale assault on Gaza City. He also says he

has ordered the start of negotiations to end the war on Israel's terms.

(BEGIN VIDEO CLIP)

BENJAMIN NETANYAHU, ISRAELI PRIME MINISTER (through translator): I came to approve the IDF's plans for taking control of Gaza City and defeating

Hamas.

At the same time, I instructed to begin immediate negotiations for the release of all our hostages and the end of the war under conditions

acceptable to Israel.

(END VIDEO CLIP)

QUEST: The Israeli military is also warning medics and international aid organizations to prepare for the mass evacuation and displacement of Gaza

City's one million residents.

Palestinian officials have reported heavy bombardments a day after Israel said it had taken hold of the outskirts of the city.

Nic Robertson is in Jerusalem.

Reading that, Nic, sort of chills of what this is going to be like as Israel does prosecute the evacuation of the city.

NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: Yes, what is interesting there, the language the Prime Minister is using is not

addressing specifically and directly the offer that Hamas, through the mediators made earlier in the week, which forced for a partial release of

hostages, something Israel wanted, the Prime Minister wanted several weeks ago. He now wants the comprehensive release of all the hostages. So he is

not directly engaging in that conversation with Hamas, but by signaling that this military operation is going to go ahead by warning the aid

organizations, the hospitals to move patients to south, to safe areas, warning the residents.

[16:20:20]

And last night, by saying that he wants this military operation run fast, he is indicating very clearly to Hamas that he will go into Gaza, their

last major holdout, not just go after them, irrespective of the hostages who may be in the tunnels. He has said releasing the hostages is important,

but is signaling to Hamas, in essence, he is willing to sacrifice the hostages, but not only that, if you look at every other city in Gaza and

town and village that Israel has had a major attack in over the past almost two years, they control 75 percent, they've been largely destroyed.

And the IDF hasn't gone into Gaza City yet, so the implication is very clear, if they do, like every other military operation, there would be

large scale destruction of property there. That is a very strong message to Hamas. How could they possibly have support anywhere to hide, but support

from the public if they bring about the destruction of the last standing city in Gaza.

This is what appears to be the pressure, if you will, on Hamas to change and offer more.

QUEST: But what is the time scale, do you believe, for Israel actually going -- I mean, they've started, in the outskirts, they have started, but

ramping it up to the point of the pressure point. How long before that happens? And the reason I ask that is because, that will then become the

point of no return in a sense. And when we are going to find out just what Israel's end game is.

ROBERTSON: You know, I think what the Prime Minister is doing is delaying making a decision, keeping all options on the table. The timelines are not

being made clear publicly. We've seen the IDF go in, in operations that the Prime Minister has said would last a few weeks and actually take months,

talking about Rafah here and other areas, have a major operation and then reverse course within a couple of days without completing it.

There are troops in the western side of Gaza City, in Zaytoun, but on the outskirts and on the edge, towards the sea. What we are told is that there

will be several more steps before the IDF is ready to go into Gaza Proper, but the real timeline, we don't know.

We know that these 60,000 reservists that the IDF has called up, will take a little bit of time to get ready and to get in place and be positioned.

They may not be necessary for the first push of the operation, but what is being teed up is something large and big scale, and it doesn't appear as

yet. It could be a couple of weeks away yet before they are actually ready for it, but frankly, we do not know the timeline.

QUEST: Nic Robertson, I beg your pardon. Forgive me, sir. Good to see you in Jerusalem. The hours ahead will be long. Thank you.

Now, Russia has launched its biggest drone and missile attack on Ukraine in more than a month.

President Zelenskyy says Moscow fired nearly 600 drones and 40 missiles overnight, hitting targets as far away as Lviv. Officials say nine

civilians were killed.

Missiles also struck an American manufacturing plant in Western Ukraine, not far from the E.U.'s borders. Mr. Zelenskyy said the plant was

deliberately targeted and has called for strong sanctions in return.

(BEGIN VIDEO CLIP)

VOLODYMYR ZELENSKYY, UKRAINIAN PRESIDENT (through translator): Right now, the signals from Russia are frankly obscene. They're trying to wriggle out

of the need to hold a meeting. They do not want to end this war. They're continuing their massive attacks against Ukraine in very fierce assaults on

the front lines, and they are also firing missiles at an American company, as they have done at many other completely civilian targets.

(END VIDEO CLIP)

QUEST: There are now growing fears that Moscow is planning a renewed push in the East.

CNN's Ben Wedeman reports on how Ukraine's military is preparing for such a surge.

(BEGIN VIDEOTAPE)

BEN WEDEMAN, CNN SENIOR INTERNATIONAL CORRESPONDENT: This complex of bunkers and trenches is not the front line, it is well back in the rear,

but the purpose of this is that it is a position that is ready in the event the Russians push forward. And in fact, what we are hearing from senior

officials in the Ukrainian military is that indeed they are seeing that the Russians are moving more men and equipment to this part of Eastern Ukraine

in preparation for some sort of attack.

And certainly what we've seen in recent days is an intensification of Russian drone strikes and missile strikes on a variety of parts of Ukraine,

and this is of course, is one of them.

[16:25:17]

This, despite the fact that it was not just a -- it was just a few days ago that President Trump met with President Putin in Alaska, and certainly one

would have thought that this would lead to a lessening of the fighting. But in fact, what we are seeing is that in the days following that Alaska

Summit, if anything, the Russians are intensifying their fire and as many here fear, preparing for yet another push on the eastern front.

(END VIDEOTAPE)

QUEST: Ben Wedeman reporting.

In a moment, I will be talking to the Irish lawmaker who represents the town that supplies the world with Botox.

(COMMERCIAL BREAK)

QUEST: Hello, I am Richard Quest. A lot more QUEST MEANS BUSINESS when we are going to talk to the Irish lawmaker who represents the global center of

Botox production.

An unsealed video shows TikTok employees telling their company they're concerned about the platform's effect on kids.

We will get to all of that only after the headlines, because you know the rest. This is CNN, and here are the headlines come first.

Ukrainian officials say massive Russian air attacks killed at least nine civilians overnight. Ukraine's President Volodymyr Zelenskyy says Russia

launched nearly 600 drones and 40 missiles. It is the largest assault in more than a month. Negotiations over peace talks between the leaders of

Russia and Ukraine have stalled.

Hurricane Erin is creating dangerous conditions along the U.S. East Coast as it turns away from the shore. Right now, its impact is being felt in

coastal communities along the Southeastern U.S. Beachgoers are being cautioned against strong rip currents and large waves. The Governor of New

Jersey has declared a State of Emergency in the case of coastal flooding.

The Chinese leader, Xi Jinping, has made a rare trip to Tibet, where he is showcasing his government's control. Chinese state media says he has touted

the regional government and its struggle against separatism. Xi has also called for advancing infrastructure projects, and that includes plans for

the world's largest hydropower facility.

[16:30:32]

President Trump has secured a legal victory today when a New York appeals court overturned the roughly half billion dollar penalty in his civil fraud

case. Mr. Trump is still liable for the fraud. The judge has ruled, however, that the fine was excessive and violated the Eighth Amendment of

the U.S. Constitution. New York Attorney General Letitia James says she'll appeal against that ruling.

The president, meanwhile, declared total victory in the case. Mr. Trump says he's going to join law enforcement tonight on the streets of

Washington, D.C. The president told a radio host he plans to go out with the police and military personnel he sent to the capital. A senior White

House official says the details are still being sorted out.

President Trump ordered the federal government to take control of the city's police department earlier this month.

Alayna Treene is at the White House.

Interesting, do we know much more about this?

ALAYNA TREENE, CNN CORRESPONDENT: No, the White House, Richard, is keeping a lot of these details, you know, close to the vest. But what we do know is

that in a couple of hours, he is expected to leave the White House to go meet up with some of the federal law enforcement that is in Washington,

D.C. He said it earlier himself on a radio show saying, I'm actually, you know, divulging a secret here.

But when we talk to White House officials about this, they essentially said details are still being worked out. They are trying to keep a lot of this

under wraps, but we should see the president, you know, with different federal law enforcement this evening. But I do think the big picture, of

course, is we are seeing this kind of a show of what the president has been trying to do. It comes just a day after we saw another kind of staged event

around this when you saw the vice president, JD Vance, as well as the Defense Secretary Pete Hegseth, go to Union Station, the train station here

in the center of D.C., to greet some of the law enforcement officials, buy them lunch.

We did see some heckling of JD Vance in particular during that event. But a lot of this is really trying to just draw attention to what the president

is trying to do. I'd remind you that he's really painted himself as this law and order president.

QUEST: Right.

TREENE: He's trying to paint himself that way, and that's exactly what he's going to do with kind of this staged event this evening.

QUEST: OK. We're also getting, of course, the other side of that, aren't we? Lots of politicians and Democrats are pointing out, you know, military

on the street, this and that, and the other. We're getting very, very politically divided view as this goes into operation between those -- the

president saying four days on and look, pieces of our time. Crime is solved. And Democrats saying it's turned into a war zone and it's turned

into military Armageddon.

I guess you're there. The truth is somewhere in the middle.

TREENE: I think that's right. I mean, look, there's no question that there is, of course, crime in Washington, D.C. There always has been. Yes, it's a

little bit lower now than it had been in recent years. But I think that the core of what Democrats are arguing is that they believe this is an

overexaggeration and an overplayed hand to try and deal with it. And there's concerns as well, of course, of whether this is actually pushing

the bounds of the president's executive authority, particularly when he talks about what he's doing in Washington as being a test case for other

cities.

D.C., of course is very different. It is not a state that doesn't have a governor who can control the National Guard. So there's more of a gray area

here that the president is able to work with. But when he talks about potentially wanting to do something similar with cities like Los Angeles or

Chicago or New York, that's what I think really concerns a lot of people on the left. And again, this idea of having, you know, military tanks in the

city, when really it's just to address something like crime and not a specific incident is what they are criticizing.

But then there's, of course, people who argue that, you know, if you -- if you are going to send out federal law enforcement to try and bring down

crime, they welcome that. And so there is definitely a mixed bag of reaction. I think a lot of people here in D.C. recognize there is crime.

But also kind of agree with, you know, it's a very liberal city, agree with a lot of the Democrats who argue that perhaps what they're doing is a bit

of an exaggeration of what is needed, and kind of, you know, making this about politics more than anything.

QUEST: And I'm grateful for you. Thank you very much indeed.

[16:35:00]

Returning to our top story, and it is the trade deal between the United States and the E.U., which is good news for the Irish town that produces

most of the world's Botox. And it earned its manufacturer, AbbVie, more than $3 billion in sales during the first six months of the year.

Now, Botox is your -- you don't need me to tell you medical and cosmetic purposes, and it's been referenced on everything from "Sex and the City" to

"The Simpsons Movie."

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: The dome has put an end to life as we know it. The town is running low on supplies of everything from gasoline to Botox.

(END VIDEO CLIP)

QUEST: The most Botox comes from a factory in County Mayo in Ireland, in the town of Westport.

Keira Keogh is the TD member of National Parliament for County Mayo. She joins me now.

Good to see you, ma'am. Thank you for joining us. I didn't know it all came from this place in the west. Who knew? So much Botox. But, anyway, we'll

get on to that in a second. Look, you must be relieved. The pharmaceutical deal hasn't been fully done, but it does look as if E.U. pharmaceutical

exports to the United States won't be as bad -- well, they're not going to be in the same regime as all other countries.

KEIRA KEOGH, IRISH LAWMAKER FOR MAYO COUNTY: Well, yes, Richard, thanks for having me on. And we were relieved when I suppose the agreement was

initially announced. And I know we're waiting for the end of the 232 investigations, but we are hopeful that the deal that was reached, you

know, with that 15 percent ceiling will stay intact for pharmaceuticals. As you mentioned, you know, most of the worlds Botox is produced in Westport.

And, you know, as a young child growing up in Westport, I was very familiar with AbbVie, Allergan, as it was called then, and we didn't know what Botox

was, but we knew that this factory was really important for our beautiful town of Westport, employing, you know, 1300 local people and about 500

contractors. So we didn't really know as children what Botox were. But we knew that this factory was really important for our survival as a town.

QUEST: Pharmaceuticals in Ireland, I mean, it is one of the -- one of the exports to the United States. It's an important -- I remember that, you

know, chips and pharmaceuticals and all those sort of things. So how worried were you and other members of the Dala that the trade war with the

U.S. was going to greatly and more adversely affect Ireland as a trading nation?

KEOGH: Yes, I think we were exceptionally worried. We've always been of the opinion that tariffs are not -- are not good and I guess the consumers are

the ones that pay the heftiest price. Ireland does export quite a bit to the U.S. in relation to our agri food. You know, our Irish whiskey is very

popular and the cure is like Baileys and Cool Swan. But again the pharmaceuticals is huge for Ireland and especially in the west of Ireland.

You know we have Johnson and Johnson, we have Baxter, we have AbbVie. And so, you know, if we had seen the likes of 30 percent and figures like that,

it could have had a devastating impact. If you look at my hometown, we're a small town of 7,000 people. So if you take out, you know, 1300 employees,

that would just wipe out the town economically.

QUEST: I understand that. But the other side of this deal that we're talking about today, that you will have seen talks about preferential

market access for a wide range of U.S. seafood, agricultural products, trees, nuts, dairy products, fresh and processed foods, vegetables, et

cetera, et cetera, soybeans, pork and bison.

Now, Ireland takes its fair share. But you're not really -- let's be honest, the Irish farmers don't -- do not want wholesale importing of vast

amounts of meat products from the United States.

KEOGH: Look, I think the trade with the U.S. is mutually beneficial. We have companies in America like 770, at least, Irish companies employing,

you know, 200,000 Americans. So I think it is a mutually beneficial trade relationship that we have. And obviously the farmers would prefer not to

see U.S. beef coming in, but we have to keep working together on trying to get the best possible outcome for the businesses, for the consumers, and as

we have always said, we would love to see zero for zero, but if, you know, if we have to accept 15 percent, I think, I think that's something that we

can live with.

And I think at this point, this has been going on a long time and talking to farmers, talking to businesses, talking to employees of companies, the

real thing that people want at this point is certainty. And I think if we can get to the end of these 232 investigations and have certainty and move

forward, that's really what we -- what we need at this point.

[16:40:02]

QUEST: Now, final question. In the town where the Botox factory is, elsewhere in the world, you would never dream of asking somebody, have you

done Botox? Have you? But I'm guessing if it's manufactured up the road, you know, people sort of say, oh, yes, I got my dose of Botox. You know, I

went and got a bit there. I had a bit done last week. Do people talk about having it done quite casually?

KEOGH: You know, it's funny, Richard, Botox wasn't actually available to get in Westport until very recently.

QUEST: Really?

KEOGH: And now there's a couple of candidates that are doing it. We don't have big aesthetic companies just yet in Westport. We're more -- like

people will be familiar with Westport, maybe with they might have seen Lindsay Lohan's movie "Irish Wish." We have the Greenway, the Wild Atlantic

Way. It's a real rural part of the country, real picturesque. And yes, Botox is becoming maybe more commonplace. But up until a few years ago, no,

it we might have manufactured Botox, but we didn't sell it in Westport. So it was -- it was very unique story really.

QUEST: Now, I promise you, next time we talk to each other, let's do it in your wonderful part of Ireland, which just, I mean, it's -- it is beautiful

beyond belief. I'm grateful for your time tonight. Thank you.

KEOGH: Richard, you'll be very welcome. Thank you so much.

QUEST: Thank you.

Now, as we continue, several U.S. states have sued TikTok. The platform is under fire for allegedly harming children. We'll discuss all of that in

just a moment.

(COMMERCIAL BREAK)

QUEST: The everglades are just simply phenomenal. We did a recent "World of Wonder" down in the everglades, and it's one of the largest wetlands in the

world. 1.5 million acres. It was once nearly twice that size. And that was before the canals and the dams that were built by the Army Corps of

Engineers altered its landscape.

So today, on "Call to Earth," we're going to witness the monumental task of bringing back the everglades' natural flow.

[16:45:16]

(BEGIN VIDEOTAPE)

NATALIE AGUIRRE, SCIENTIST, EVERGLADES FOUNDATION: Right now, we're standing in the everglades. It's the largest tropical wetland in the United

States. And it's an incredible, diverse habitat. This ecosystem is home to more than 2,000 species of plants and animals.

ZAIN ASHER, CNN CORRESPONDENT (voice-over): Known as the river of grass, the everglades begin at Lake Okeechobee and flows south through cypress

swamps, sawgrass marshes, and mangrove forests before spilling out into Florida Bay.

AGUIRRE: This is peat soil unique to the everglades, and it functions to capture carbon from the atmosphere and store it. It's one of the most

important features of the everglades and something that we work hard to protect.

ASHER: Natalie Aguirre is a scientist with the Everglades Foundation. One of many groups working to restore and protect this iconic wetland.

BEGONE CAZALIS, DIRECTOR OF COMMUNICATIONS, EVERGLADES FOUNDATION: At the end of the 19th Century, as people started moving to south Florida, they

started agriculture, building roads, cities, and all of that diverted the natural flow of the everglades.

ASHER: Decades of human development drained the everglades, polluted its waters, and threw its delicate ecosystem off balance, impacting many plant

and animal species along the way.

CAZALIS: That's when we started realizing that all of this water is connected, and that something needed to be done to restore this ecosystem.

ASHER: In 2000, the U.S. government established the Comprehensive Everglades Restoration Plan to remove barriers and bring back its natural

flow.

CAZALIS: The Comprehensive Everglades Restoration Plan involves 68 different projects across South Florida. It's a very complex project, but

the benefits are worth it because we need enough fresh water coming south to maintain the biodiversity and the other functions that the everglades

provide us. It protects us from hurricanes and storms. It helps us with flooding, and it provides drinking water for nine million South Floridians.

ASHER: Just south of Lake Okeechobee, the crown jewel of the restoration plan is taking shape in the everglades agricultural area, or EAA, led by

the U.S. Army Corps of Engineers.

EVA VALEZ, DIRECTOR, EVERGLADES RESTORATION PROGRAM, U.S. ARMY CORPS OF ENGINEERS: The EAA reservoir is a mega civil works project. It reconnects

the freshwater from Lake Okeechobee to the heart of the central everglades. It holds water so that it can be redelivered back to the everglades in the

right distribution, with good quality.

JUAN SANCHEZ, AREA ENGINEER, EVERGLADES AGRICULTURAL AREA: Basically all this area where we're standing right now will be full of water. What you

see around us is limestone that is natural from this location. We're repurposing it and making it an engineered material for the construction of

the reservoir.

ASHER: Expected to be completed by 2034, this reservoir will work in conjunction with stormwater treatment areas, STAs, that filter out excess

agricultural runoff like phosphorus, which can lead to harmful algae blooms and negatively impact wildlife.

While restoration is in various stages and there may be decades to go before total completion, Natalie says they're already seeing the positive

effects of their work.

AGUIRRE: There's ongoing scientific investigation to understand truly the impacts that more freshwater has on the system. So scientists are already

reporting countless more birds and other organisms compared to years past.

VALEZ: The lesson we've learned over time is that for all of us to live here, we have to be in balance with nature, because nature is our path to

our sustainability and our future for all of our communities.

(END VIDEOTAPE)

QUEST: Fascinating. If you haven't been to the everglades, you really do need to go and have a look. And now tell us what you're doing to answer the

call. The hashtag is, of course, "Call to Earth."

(COMMERCIAL BREAK)

[16:51:49]

QUEST: Newly unsealed video of internal TikTok meetings shows employees raising concerns about the app's impact on teenagers. Now, the video is

being used as evidence in the North Carolina lawsuit against TikTok. One clip shows an employee saying that the design of TikTok encouraged

unhealthy content. Another shows an employee discussing the platform's goal of making people never want to leave.

Clare Duffy is with me.

I suppose, why am I shocked? That's the whole point. We know the algorithm is set up not just with TikTok, with any of them. The algorithm is set up

to keep them there.

CLARE DUFFY, CNN TECH CORRESPONDENT: Yes. Well, Richard, I think what is striking about these comments is they align in many cases with the

allegations that are made in this North Carolina lawsuit, which accuses TikTok of intentionally developing the app to be, quote, "highly addictive"

to young people and also of deceiving parents and children about the safety of the platform.

The judge in this case ruled that this video should be unsealed because he said the public has a right to see it. And I think it is really striking

just to hear from some of these current and former employees themselves. I want to play for you a clip of this video. Take a listen.

No, it sounds like we actually don't have that clip after all. But, Richard, we do hear from these employees, as you said, that they are

worried that the algorithm keeps people there too long, that it could promote harmful content. Now, it's not clear when exactly these

conversations took place. And it's also not totally unusual for internal teams at tech companies to talk about how the platform can be improved.

But I will say North Carolina Attorney General Jeff Jackson told me he thinks this video proves the allegations that they're making in this

lawsuit and this idea that the company knows more about these, you know, alleged safety risks than it lets on to the public.

QUEST: And what does TikTok say?

DUFFY: So TikTok has disputed the claims in this lawsuit and is also disputing the way that the attorney general is characterizing this video. A

spokesperson told me, "The AG's sizzle reel is a shameful attempt to distort an open conversation about making the platform safer when TikTok

was just beginning five years ago. This manipulation relies on conversations taken out of context with the sole purpose of misleading the

public and grandstanding."

The spokesperson also pointed out some of the youth safety features that TikTok has rolled out. Things like parental oversight tools and a

meditation feature that aims to get kids scrolling less on the platform. But I do think that this video could add fuel to the fire for critics who

say that TikTok still hasn't done enough to keep kids safe on the platform, Richard.

QUEST: I'm told that we have the clip. Let's play it anyway so that you can just -- so that our dear viewer can make up their own mind.

(BEGIN VIDEO CLIP)

BRETT PETERS, TIKTOK GLOBAL HEAD OF CREATOR ADVOCACY AND REPUTATION: We all have these really lofty goals of getting people to be on the app longer,

like literally, like that's like why we're all here is to help continue to diversify the content ecosystem, to make TikTok a place where you can get

so much different types of content that you never want to leave.

NICHOLAS CHING, FORMER TIKTOK ISSUES PROGRAM MANAGER: Unfortunately, some of the stuff that people find interesting are not always the most healthy.

So I think we do have -- we do in a way encourage some of this content being put up.

[16:55:13]

ALLY MANN, TIKTOK MARKETING PROFESSIONAL: We obviously wanted people to spend as much time as possible on TikTok which is -- can be in contrast to

what is best for your mental health.

(END VIDEO CLIP)

QUEST: I don't know, Claire. I don't know. I mean, that's their job. I mean, that is their job.

DUFFY: Yes, it does really get at sort of the fundamental tension or challenge with the business model of these platforms because in order to

make ad money, they want you scrolling as long as possible, looking at as many ads as possible.

QUEST: Sure.

DUFFY: But I will say a lot of the tech companies, TikTok included, have also said that if we start harming our users, it's not going to be good for

our business. They say that they have an incentive still to roll out some of these youth safety features. But there really is this tension. It's

going to be interesting to see how the court rules, you know, how much responsibility the court says TikTok should have for the safety and well-

being of its youngest users.

QUEST: Glad you're with us, as always. Thank you, Clare Duffy.

I will have a "Profitable Moment" after the break.

(COMMERCIAL BREAK)

QUEST: Tonight's "Profitable Moment." I've been giving such a lot of thought to this E.U., U.S. deal. Where is it? I've got it, I've got it.

It's four pages long and there's no question, there's definitely flesh on the bones, but the E.U. once again does come off on the backfoot

particularly, of course, there's even an admission here. "This new deal reflects acknowledgment by the E.U. of the concerns of the United States

and the joint determination to resolve the trade imbalances."

So now the E.U. has to basically, if it wants to gain the full benefits, it has to do the hard work of actually introducing legislation and passing it.

And the U.S. once again does seem to have the upper hand. Well, so far so good. From the downside, from the U.S. point of view, there's still a load

of old nonsense about all this buying of energy and investment in the United States. All these multi-billions.

Yes, some of it will arrive, but there's no enforcement mechanism. There's no monitoring of it. It's all just hot air and words basically. Now, what's

really interesting about the whole thing is that the U.S., Donald Trump, decided he's going to rewrite the rules of global trade. And now this is

well and truly underway. There's no going back. I just wonder what Ngozi at the WTO now thinks her role is in the future. We need to ask her on QUEST

MEANS BUSINESS.

But that is QUEST MEANS BUSINESS for tonight. I'm Richard Quest in New York. Whatever you're up to in the hours ahead, I hope it is profitable.

There's the Dow.

END