4 • 1K Ratings
🗓️ 4 April 2025
⏱️ 10 minutes
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0:00.0 | President Trump's sweeping new tariffs have shocked the stock market and drawn criticism from leaders on both sides of the aisle. |
0:08.0 | To discuss the political aftermath of the penalties, we turn now to the analysis of Brooks and Capehart. |
0:13.0 | That is New York Times columnist David Brooks and Jonathan K. Part, associate editor for The Washington Post. |
0:18.0 | Great to see you both. |
0:20.0 | So we've talked a lot about what the White |
0:21.7 | House has to say about these tariffs, the economic impact so far, how the markets are responding. |
0:26.3 | I did ask Wisconsin Republican Senator Ron Johnson about these tariffs. He has a heavy ag state, |
0:32.5 | of course, a big manufacturing state as well. After markets closed yesterday, here's what he had to say. |
0:38.5 | This was a bold but risky action the president has taken. I, for one, hope he is correct. |
0:44.9 | I wanted him to succeed. I wanted the American consumers to succeed. I want Wisconsin |
0:49.1 | manufacturers and farmers to succeed. David, bold but risky. Is it worth the risk? In current Republican talk, |
0:56.3 | that is full retreat. I hope he succeeds with this crazy idea of his. Yeah, I think this is going |
1:02.4 | to be, well, A, I think it's literally the dumbest domestic policy of my lifetime. I think the most, |
1:08.2 | of all the policies, they usually have some plausible argument. A group of experts |
1:12.0 | say, yeah, this could work. You really don't see that this time with the affection of few |
1:15.9 | Trumpy. I also think it's going to be a turning point for the Trump administration. You can |
1:20.3 | cut foreign aid and voters don't really notice. You can gut the Department of Education or |
1:25.6 | whatever and voters shrug. But if you mess with their prices, |
1:29.9 | add $4,000 to the price of a car. If you're an electrician and you've got all these contracts, |
1:37.8 | big contracts out, you've now got to go back to the people you signed the contract with |
1:41.8 | and try to renegotiate because all your supplies costs are going up. So it's the inflation rate. Some economists think it's three to five percent. |
1:49.4 | It'll add that would put us up to eight maybe. And then the disruption, the increased risk of a |
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