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PBS News Hour - Segments

Businesses brace for Trump’s new tariffs while Senate Democrats try to push back

PBS News Hour - Segments

PBS NewsHour

News, Daily News

4.11K Ratings

🗓️ 1 April 2025

⏱️ 3 minutes

🧾️ Download transcript

Summary

The American public and U.S. trading partners are waiting for President Trump’s new set of tariffs, a plan he says is finalized and will be revealed on Wednesday. Trump's first two months back in office have seen him implement tariffs on countries like Canada and Mexico, only to reverse course days later. It’s not yet clear which countries will be taxed hardest. Geoff Bennett reports. PBS News is supported by - https://www.pbs.org/newshour/about/funders

Transcript

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0:00.0

In the meantime, President Trump is set to reveal a new set of tariffs tomorrow, which has the American public and U.S. trading partners anxiously waiting to see which countries and which industries will be taxed the hardest.

0:13.5

President Trump is set to begin the biggest gamble of his second term so far, a sweeping round of reciprocal tariffs on imports, a move he's branding

0:22.3

as Liberation Day.

0:23.6

I always say tariffs is the most beautiful word to me in the dictionary.

0:28.5

Tariffs have long been central to the President's economic vision.

0:32.0

Now by taxing imports from some of the country's biggest trading partners, he's hoping

0:36.4

Americans will favor American-made goods

0:38.9

to revitalize U.S. manufacturing.

0:41.6

The automakers are going to make a lot of money, the American automakers.

0:46.2

Despite economists' warnings about the president's tariff plan

0:49.7

triggering higher prices, a possible recession,

0:52.5

and a global trade war, the White House

0:55.0

Press Secretary today reiterated Mr. Trump's confidence.

0:58.0

They're not going to be wrong. It is going to work. And the President has a brilliant

1:02.5

team of advisors who have been studying these issues for decades. And we are focused on restoring

1:08.8

the golden age of America.

1:10.6

A similar message from House Republicans.

1:12.6

You have to trust the President's instincts on the economy.

1:15.6

It may be rocky in the beginning, but I think that this will make sense for Americans and it will help all Americans.

1:20.6

But across the aisle, Democrats in both chambers are unconvinced,

1:24.6

accusing the Trump administration of playing fast and loose with Americans' finances.

1:28.3

Hardworking Americans just want a little breathing room and some stability in their busy lives.

...

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