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Deadline: White House

“A crisis of Trump’s own making”

Deadline: White House

Nicolle Wallace, MS NOW

Politics, News, Ms Now, Msnbc, Daily News, The White House, Nicolle Wallace, Versant, Washington Dc, Government

4.56.4K Ratings

🗓️ 13 August 2025

⏱️ 42 minutes

🧾️ Download transcript

Summary

Nicolle Wallace on how Trump has failed to meet his campaign promises for the economy – and created a new disaster for American pocketbooks with his extreme tariffs.

Transcript

Click on a timestamp to play from that location

0:00.0

A vote for Trump means your groceries will be cheaper.

0:06.8

I will fix it. It'll be fixed very far.

0:11.2

And America will be bigger, better, bolder, richer, safer and stronger than ever before.

0:17.4

And we will make America very importantly affordable again because people cannot afford the

0:22.0

prices. And prices are too high. My plan will rapidly defeat inflation, quickly bring down

0:29.1

prices, and reignite explosive economic growth. We're going to bring prices way down and we'll get it

0:35.6

done fast.

0:45.4

Oops, never mind. Hi again, everybody. It's now five o'clock in New York. Donald Trump made a litany of promises like those to the American people, to his own supporters, to swing boaters,

0:52.1

frankly to all of us, that he would be the one who would

0:55.7

make things cheaper and make all of our lives easier. He would lower prices. He would drive down

1:00.4

inflation. He would drive down the national debt. He would make things more affordable.

1:05.2

But the reality is that prices are high and people are struggling more than ever to get by. A lot of that having to do with

1:12.9

the crisis he created tariffs. They're creating major chaos and confusion and adding to higher

1:19.6

costs and economic anxiety. Those costs are now expected to go even higher. Take the latest

1:25.6

inflation report and analysis from financial experts that came

1:29.0

out yesterday. The Consumer Price Index rose 2.7% on an annual basis in July, which was actually

1:36.2

unchanged from the month before, and less than expected, that's the good news. But about the report,

1:41.8

CNBC finds this, quote, there were worrying signs under the surface,

1:45.7

including evidence that Trump administration policies are stoking inflation for certain goods

1:51.1

and services, economists said. Those effects will likely become more pronounced later this year,

1:57.1

they said. Mark Zandi, chief economist of Moody's, says this, quote, the tariff and

2:02.7

immigration effects aren't screaming at us, but they're certainly speaking very loudly, and

...

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