meta_pixel
Tapesearch Logo
Log in
The Situation Room with Wolf Blitzer

China Retaliates, Stocks Tumble

The Situation Room with Wolf Blitzer

CNN

News

3.6857 Ratings

🗓️ 4 April 2025

⏱️ 77 minutes

🧾️ Download transcript

Summary

Following President Trump's "Liberation Day" tariffs, China responds by slapping a huge tariff on the US, and stocks are tumbling yet again. In contrast, the latest jobs report was stronger than expected. We break down all the latest economic indicators that are coming in.  Plus: Both the director and the deputy director from the highly sensitive National Security Agency are now gone after far-right activist Laura Loomer met with president Trump and advocated for their firings.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Happening now, breaking news.

0:04.0

Stocks tumble.

0:05.0

China retaliates, but a stronger than expected jobs report.

0:09.0

We'll break down all the latest economic indicators that are coming in.

0:12.0

Plus, firings at the NSA, both the director and the deputy director from the highly sensitive national security agency are now gone after far-right activist

0:22.4

Laura Luber met with President Trump and advocated for their firings.

0:27.3

Welcome to our viewers here in the United States and around the world.

0:30.9

I'm Wolf Blitzer. You're in the Situation Room. This is CNN breaking news.

0:44.0

And we begin with the breaking news.

0:45.8

U.S. stocks are tumbling for the second day.

0:48.5

The Dow is already down 1,000 points after dropping almost 1,700 points yesterday.

0:54.7

This comes amid President Trump's escalating trade war, and despite a stronger than expected

1:00.4

new jobs report just out this morning.

1:03.1

Also affecting the markets this morning, retaliation from China.

1:07.5

Beijing announced its responding to the White House's sweeping tariffs with 34% new tariffs of its own against the United States.

1:16.1

Let's go live right now to New York and CNN Business and Politics correspondent. Vanessa,

1:20.4

Vierkevich, who's standing by Vanessa, you're watching all of this. Break it down for us. First of all, start with the jobs report that came out this morning.

1:28.3

Yeah, well this jobs report, better than expected jobs report, may have softened the opening on Wall Street just a little bit.

1:34.3

But look at stocks right now, look at where markets are, really tumbling this morning as investors are pricing in really the worst-case scenario, a trade war escalation.

1:43.3

They are looking for some sense

1:45.6

that the administration is willing to negotiate with countries that does not seem to be the case.

1:51.1

Investors telling me that their trust has been just completely eroded as this trade war escalates.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CNN, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNN and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.