Crisis of confidence: what will it take for the U.S. economy to regain the world's trust?

The 11th Hour with Stephanie Ruhle

NBC News

Politics, Washington, News, President, Policy, Government, Senate, Congress, Msnbc

4.5 • 3.6K Ratings

🗓️ 11 April 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The White House confirmed even higher tariffs on all Chinese imports. Plus, what the escalating conflict between two of the largest economies in the world means for Americans. And, the Supreme Court orders the Trump administration to "facilitate" the return of the Maryland father wrongly deported to EL Salvador. Peter Baker, Leigh Ann Caldwell, Sam Stein, Bill Cohan, Barry Ritholtz, Dan Osborn, and Ryan Holiday join The 11th Hour this Thursday.

Transcript

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0:00.0	Tonight, market chaos after the White House confirms even higher tariffs on all Chinese imports,
0:08.0	then the high-stakes split between two of the largest economies in the world, what the
0:13.0	escalating conflict with China means for Americans.
0:16.0	Plus, the Supreme Court orders the administration to facilitate the return of the Maryland father mistakenly deported to El Salvador as the 11th hour gets underway on this Thursday night.
0:32.3	Good evening once again. I am Stephanie Rule, and I don't care if you need one, but I am definitely taking a deep breath right now.
0:43.0	I suspect you need one, too. It is day 81 of the second Trump administration, and we have got a lot of money, power politics to talk about.
0:51.2	After a one-day rally on Trump's tariff pause, today the markets tanked once again.
0:56.6	The Dow lost more than a thousand points, while the S&P almost three and a half percent,
1:01.1	and the NASDAQ lost more than four percent. And the bond market. I'm talking U.S.
1:05.4	Treasuries dropped as well. That does not usually happen when stocks are falling. So those two things happening together,
1:12.7	a very bad sign. Meanwhile, the standoff with China is only deepening. The White House clarified
1:18.3	that Trump's current tariff level, which is our third largest trading partner, China, is now
1:24.1	up to 145%. Trump also met with his cabinet today. And here's what he said when he was asked
1:30.1	about the markets. Well, I haven't seen it because I've been here for two and a half hours.
1:36.3	We had a big day yesterday. There'll always be transition difficulty. But we had a, in history,
1:44.0	it was the biggest day in history, the markets.
1:47.0	Everybody wants to come and make a deal, and we're working with a lot of different countries,
1:52.0	and it's all going to work out very well.
1:54.0	So how close are you to the first country coming to actually make a deal with the United States over tariffs?
2:00.0	Is it days, months?
2:01.3	Well, I think it's very close, but, you know, we have to have a deal that we like.
2:04.2	We don't want a deal that's going to be a bad deal or I could make every deal in one day
	...

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