Return to Transcripts main page

CNN News Central

South Korean President Declares Martial Law; Tim Boyle is Interviewed about Trump's Tariff Plan; Jon M. Chu is Interviewed about "Wicked." Aired 9:30-10a ET

Aired December 03, 2024 - 09:30   ET

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

(COMMERCIAL BREAK)

[09:32:11]

JOHN BERMAN, CNN ANCHOR: All right, we do have breaking news from South Korea. The president there just declared martial law to protect the country from what he's called communist forces.

Let's get right to CNN's Mike Valerio in Seoul for the latest on this.

Mike, what's going on?

MIKE VALERIO, CNN INTERNATIONAL CORRESPONDENT: John, it's a stunning move. And that is what we are all trying to figure out right now.

I'll tell you, John, I live about two minutes away from the bureau here, in the heart of Seoul, South Korea. John, there are police officers on the phone who are calling their captains and are asking, what do we do? What - what is this now that martial law is declared in this bastion of stability and democracy in South Korea? This bastion of stability and democracy in east Asia.

So, what has happened over the past hour? We have the president of South Korea, Yoon Suk Yeol, going on television and addressing to the nation that he's instituting martial law, but he doesn't go into what measures specifically he wants to put forward, saying, John, that martial law is needed in South Korea, from his point of view, to rid his government of forces that are sympathetic - or rid the government of forces that are sympathetic to North Korean forces and communist forces.

So, we are - you should know, if you don't live here in Asia, this is a government that has been under fire. Yoon Suk Yeol, the president of South Korea, is very unpopular. His popularity approval rating hovering around 20, the low 20 percent. So, we're trying to figure out what exact kind of power move this is. The leader of the opposition says, hey, this is illegal. This cannot happen.

But, John, we're going to be watching protesters who are heading to parliament right now who may be clashing with police. Buckle up. We will be waiting to see how this unfolds in the next few hours, John.

BERMAN: Yes, this sounds like there are a lot of unknowns. Like the president has announced martial law, but it isn't exactly clear how it is being imposed yet. And it seems like a lot is in store over the next minutes and hours.

All right, Mike Valerio, keep us posted from there. We will come back to you as this story develops.

Kate.

KATE BOLDUAN, CNN ANCHOR: Yes, we've got to - we've got to keep a close eye on that one, John, for sure.

Coming up for us, President-elect Donald Trump is threatening massive new tariffs on goods coming from, well, all over the place, especially Mexico, Canada and China, really putting CEOs of many American companies on edge. CEOs sounding the alarm on the impact of these tariffs. The CEO of Columbia Sportswear joins us next.

(COMMERCIAL BREAK)

[09:39:19]

BOLDUAN: It is just past 9:30 here on the East Coast. The stock market is officially open for the day. And you can see - take a look at the initial numbers right there.

A new survey out this week shows that investors are preparing - investors preparing for the new Trump presidency. They may be taking some of his major economic proposals with a grain of salt. According to the report put together by Goldman Sachs, there is little belief on Wall Street that Donald Trump is going to implement his mass deportation plan. A plan that had worried some business owners who said deportation - the deportation plans could starve them of workers and then increase prices for consumers.

But then there are the tariffs. The survey also found that a majority of investors say their number one fear is the impact of Trump's threatened and sweeping tariffs.

[09:40:06]

CEOs are bracing and sounding the alarm.

Joining us right now is Tim Boyle. He's the CEO of Columbia Sportswear, one of the largest outdoor apparel and footwear companies in the world.

Tim, thank you for being here.

I mean your company includes brands like Columbia, SOREL, Mountain Hardwear, prAna. A 25 percent across the board tariff on imports from Mexico and Canada, 10 percent or more on goods coming from China. What would that mean for your company?

TIM BOYLE, CEO, COLUMBIA SPORTSWEAR COMPANY: Well, we are already have one of the largest duty payers and tariff payers in the United States. You know, so, consumers that are buying our products today are paying fairly significant tariffs right now. We - we don't import much from Mexico, nor from Canada. But, you know, the products that we sell globally are made in Asia in many countries. Not much from China, frankly.

But, no, we - we're used to dealing with significant tariffs. They have not driven production into the U.S. even though some of the tariffs are as high as nearly 40 percent. So, we don't think there's going to be any movement to - to be building products that we sell in the U.S. They'll just be higher prices for consumers.

BOLDUAN: Because that - you're getting at one of the things that Donald Trump has said is the reason for the tariffs is trying to move production back to the United States. Why won't - why doesn't this incentivize Columbia to do that? I mean, you're all over the globe.

BOYLE: Right. So, over the last 50 years, the production of apparel and footwear has gradually moved so that it's nearly 100 percent in Asia. Many countries in Asia. Not only for the - the fact that the labor charges are less there, but also all the technology about building textile fabrics, that all exists in Asia now. The sort of black art of tailoring exists in great quantities in Asia, almost not at all here. And so to be moving products and production back here in the U.S. is - is not going to happen.

BOLDUAN: And the quality of your product is one of the reasons why consumers come to you and to your brand. I mean that's just, you know, that's the reality of it.

I've seen you, like I've spoken to other CEOs, including a footwear company, saying that any - the additional tariffs are going to - the cost is going to be passed on to consumers.

BOYLE: Yes, as I said -

BOLDUAN: Talk to the consumer, Tim. Why is the - why - why can't a company eat that cost?

BOYLE: Well, today, consumers are paying the tariffs. When they buy products that are made offshore, they're paying significant tariffs, which are included in the products. And, you know, the - the margins that the companies like ourselves work on just don't allow us - for us to eat the cost. And the factories that make this merchandise are not willing to eat the costs either. They're going to - the costs are going to be passed on to the consumer, just the way they are today.

BOLDUAN: What would you hope that the incoming administration would take into consideration with the reality that - that your company faces, and so many other companies are facing, and why there is such concern about additional tariffs being slapped on imports coming in. What - what would your message be to them?

BOYLE: Well if - if folks that were elected here recently are concerned about inflation, raising prices for consumers is not going to lower inflation. It's going to raise inflation. That's what I would point out to anybody that's talking about this topic right now. It's going to raise inflation. BOLDUAN: I've heard from some investors that they're - taking it all

with a little bit of a grain of salt. Maybe they're hopefully - maybe they're a little bit hoping that they think that Donald Trump is bluffing in terms of this threat, to put him in a better negotiating - stronger negotiating position when he actually gets into office when it comes to these tariffs.

BOYLE: Well, you know -

BOLDUAN: Do you think he's bluffing? Can you - can you - can you take that risk?

BOYLE: Well, you know, businesses require predictability so they can plan, sourcing products can be planned. And, you know, so we would expect that we would - that we would have some sort of convincing argument that we should go forward with a - with a particular product line or a particular set of pricing so we know what consumers are going to be paying.

The other issue, and we're in a state, frankly, in Oregon here, that exports a tremendous amount of product, not only computer chips, but lots of agricultural products.

[09:45:00]

All of those will be slapped with tariffs in retribution of a higher tariff level on imports.

So, you know, there's - there's lots of issues that are going to be raised by anybody that's involved in trade, whether it's an export or an import if there's threatened or even applied additional tariffs.

BOLDUAN: Yes. I think everyone can agree there, there - nobody wins in a trade war. That seems to be always the end result.

BOYLE: True.

BOLDUAN: Tim Boyle of Columbia, thank you so much. It's really great to meet you. Thank you.

John.

BERMAN: All right, a full-on blockbuster smash. We're talking about "Wicked." The director is here to talk about what makes the film so magical.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: I want them to feel what I felt going into that theater for the first time. I want to make them laugh, to make them sing, to make them feel that after they've watched it, they've been changed for good.

(END VIDEO CLIP)

(COMMERCIAL BREAK) [09:50:26]

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: Ah! You're green.

UNIDENTIFIED FEMALE: I am.

Something is not the same.

Something just takes over me. And when it does, bad things happen.

UNIDENTIFIED FEMALE: Once you learn to harness your emotions, the sky's the limit.

(END VIDEO CLIP)

JOHN BERMAN, CNN ANCHOR: So that, of course, the blockbuster hit "Wicked," starring Cynthia Erivo and Ariana Grande. It is now the highest grossing Broadway adaptation in U.S. box office history. It is also the inspiration for this soon to be viral TikTok video.

(BEGIN VIDEO CLIP)

ANNA GLICKMAN, CNN ANCHOR PRODUCER: Did they have brains or knowledge? Don't make me laugh. They were -

BERMAN: Popular.

GLICKMAN: Right.

(END VIDEO CLIP)

BERMAN: That was my producer, Anna Glickman, and me.

And here with us now is the director of "Wicked," Jon M. Chu, and the author of "Viewfinder: A Memoir of Seeing and Being Seen."

I know it must be intimidating to see filmmaking like that, like that TikTok video.

JON M. CHU, FILM DIRECTOR, PRODUCER AND SCREENWRITER: That's incredible. You guys are both hired. In "Wicked" two, you're in. So -

BERMAN: I know, we're setting the bar very, very high there. Thank you for being so generous.

All right, so, "Wicked," the show, has been around for a while.

CHU: Yes.

BERMAN: And I know there have been attempts to get it on the big screen before. So, how did it finally happen and why now?

CHU: You know, I think there has to be a reason why a movie's made. The urgency. And I think the time was right. You have to find the right Elphaba and Galinda. And it just so happens that Cynthia Erivo and Ariana Grande were coming into this moment of their careers where they get to show off another side to them that maybe people haven't seen.

And, of course, I had to - I had to go through a bunch of movies and learn my lessons before being here to do it. So, I don't know all the things, but I think it's the right moment.

BERMAN: Do you think you did it differently now than you would have ten years ago?

CHU: Oh, for sure. For sure.

BERMAN: How so?

CHU: I think the moments have changed. I think, even after Covid, those words, something has changed within me, something's not the same and defying gravity meant something different. It - to me there's this whole feeling of uncertainty of what the future holds. And "Wicked" plays right into that, about what it is to step up, to tell the story, once you - when you reveal the truth and you find out all these things, what do you become and who are you - who are you going to - what kind of story are you going to tell? So, yes.

BERMAN: I think people who have been paying attention know this is not some like side gig or incidental story for you.

CHU: Yes.

BERMAN: This is like deeply a part of your life.

CHU: Absolutely.

BERMAN: "The Wizard of Oz" - your book, which I'm holding here, "Viewfinder," -

CHU: Yes.

BERMAN: Like the opening epigraph is a quote from "The Wizard of Oz."

CHU: Yes. Yes.

BERMAN: Why is it so important to you?

CHU: Well, you know, my parents came from China into - into the states before I was born and "Wizard of Oz" was - was the American dream, was the American fairy tale. This yellow brick road. This wizard's going to give you your heart's desire if you work hard and prove yourself. And I loved growing up in that.

But as you get older, as we know, fairy tales sort of fall apart and you have to figure out who your heroes are. And maybe the yellow brick road wasn't made for you at all. And maybe there's no wizard who's going to save you, and you have to save yourself.

So, there's a lot of me and Cynthia and Ari and all of us, all the crew members, all have a special place of "Wizard of Oz" in our place, and "Wicked." So, we kind of sort of infused that in - in this movie.

BERMAN: You're saying "The Wizard of Oz" was crucial when you were here as a kid? Was the wicked witch scary to you?

CHU: Yes.

BERMAN: Terrifying - I mean it's terrifying.

CHU: Oh, yes. The flying monkeys. The wicked witch. All of that. But I love that you get to see her in a new way. You get to see her side of the story. And - and then - and maybe it makes you pause the next time you make a judgment on - on who's deciding that that's beautiful or that's a hero or that's what a villain looks like.

BERMAN: No, I couldn't agree more. I think that's always been the most magical thing through the adaptation of "Wicked."

CHU: Yes.

BERMAN: You know, Stephen Schwartz, great musical there.

CHU: Of course.

BERMAN: So, I want to play a clip of dancing through life and just some of the choreography so everyone can see this. Watch.

CHU: Yes.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE (singing): Life is fraughtless when you're thoughtless. Those who don't try never look foolish. Dancing through life, mindless and careless. Make sure don't wear less. Trouble is right.

(END VIDEO CLIP)

BERMAN: So, I just wanted to play it, because it's just so amazing and so visual.

CHU: Yes.

BERMAN: I mean, how did you and choreographer Christopher Scott achieve this?

CHU: Well, it's a whole team of people. Christopher Scott is the choreographer, but also Alice Brooks, our DP, who I've worked with since college at USC, we had to figure out how the camera goes there. Our production designer, Nathan Crowley, had to design this giant tornado wheel is what we called it. And Johnny Bailey, of course, has to get in there and - and - and do his thing without getting his head chopped off from all the ladders that are turning.

So, there's - this is - this movie was made with hundreds and hundreds maybe thousands of hands to build Munchkinland, to have the Emerald City train, to plant 9 million tulips. We wanted to make a movie of gigantic scale that only cinema can deliver.

[09:55:01]

BERMAN: Yes, I think it's worked OK based on the box office so far. I think that so far, you know, people are digging it.

CHU: Yes.

BERMAN: All right, I'm sure you've been asked this a million times, but "Wicked" two. I mean, you cut the show in half and made two films out of it.

CHU: Yes.

BERMAN: Any surprises in the sequel?

CHU: We may have a few new songs in there. It's - you know, if movie one is about choices, movie two is about consequences. And why - why do you defend a home that maybe not - doesn't want you? And what is the meaning of home, actually? I think those things are really interesting questions. And now that people have fallen in love with this - with Elphaba and Galinda, to see how they stay to their course, is interesting.

BERMAN: Congratulations on all this.

CHU: Thank you very much.

BERMAN: It's got to be so cool to be living through this moment when people are appreciating all the work that you put in, because it's been a long time coming.

CHU: It's so fun to see. Absolutely. And making viral videos, of course.

BERMAN: And - yes, yes. Someday you too will achieve that level of filmmaking.

Jon M. Chu, thank you very much.

Kate.

BOLDUAN: Creepy fangirl over your shoulder. Hi!

CHU: Hi.

BOLDUAN: The restraining order won't let me get any closer because I'm such a fan of "Wicked."

CHU: Oh, you do (ph).

BOLDUAN: I took - I took my daughters to it this weekend, ten and six. They immediately were like, mom, stop singing, one.

CHU: Oh.

BOLDUAN: And, two, they're like, when's the next? I was like, we'll ask him.

CHU: One year. One year.

BOLDUAN: Congrats.

CHU: Thank you.

BOLDUAN: Huge congrats.

Thank you all so much for joining us. This has been a fun couple days how we ended the show, John.

Thank you so much. This is CNN NEWS CENTRAL. "CNN NEWSROOM," up next.

(COMMERCIAL BREAK)