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Squawk Box anchors discuss Fiat Chrysler upending its $33 bn mega-merger for French carmaker Renault, blaming political resistance for stalling the deal talks. Stateside, major indices rally on rising hopes of a Fed rate cut, but gains are capped in Asia after U.S. and Mexican trade negotiators fail to make progress in tariff talks. President Trump heads to Ireland, meeting with Irish Taoiseach Leo Varadkar to talk Brexit and Huawei's proposed 5G rollout. We follow him to Normandy for the 75th D-Day anniversary commemorations. And, we are live in St Petersburg where Chinese President Xi Jinping hails his relationship with ‘best and bosom friend’ President Putin while striking a Russian 5G deal between Huawei and MTS.