Global economies hang in the balance with Trump’s tariffs set to officially go into effect
PBS News Hour - Segments
PBS NewsHour
4.1 • 1K Ratings
🗓️ 8 April 2025
⏱️ 4 minutes
🧾️ Download transcript
Summary
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the NewsHour. Just hours before major new tariffs are set to kick in, President Trump and his team said he remains open to deals but generally would not back down from levies on goods for more than 80 countries. |
| 0:14.1 | That includes 104 percent tariff on China set to take effect at midnight. |
| 0:18.8 | That message helped kill an early rally in the markets, |
| 0:22.5 | and the Dow swung by nearly 1,800 points. The Dow closed at its lowest point in about a year, |
| 0:28.1 | finishing down about eight-tenths of a point. The NASDAQ was down more than 2 percent, |
| 0:32.7 | and the S&P 500 dropped more than one and a half percent. Stephanie Syne begins with this report. |
| 0:39.4 | On Wall Street this morning, stocks around the world began the day with a bounce after days |
| 0:45.9 | of losses set off by tariff turmoil. Everything's on the table. Before the opening bell, |
| 0:51.7 | Treasury Secretary Scott Besant had told CNBC that U.S. trading partners are eager to negotiate and strike new deals. |
| 0:59.0 | I think there's going to be a lot of back and forth. President Trump is going to be personally involved in the negotiations. |
| 1:08.5 | And we will see what our trading partners offer. |
| 1:14.8 | The market optimism had faded by the time the president spoke this afternoon, saying the |
| 1:20.4 | U.S. is now taking in $2 billion a day on tariffs and claiming 70 countries are ready to strike a deal. Right now, Japan is flying here |
| 1:29.6 | to make a deal. South Korea is flying here to make a deal and others are flying here. |
| 1:35.6 | Our problem is can't see that many that fast, but we don't have to because, as you know, the tariffs |
| 1:41.6 | are on. But while negotiations play out on Capitol Hill, the committee will come to order. |
| 1:47.7 | Trump's new trade ambassador, Jameson Greer, confirmed there will be no immediate |
| 1:52.3 | tariff exemptions for individual products or companies. |
| 1:55.5 | The president has been clear with me and with others that he does not intend to have |
| 2:00.1 | exclusions and exemptions, |
| 2:02.5 | especially given the nature of the action. If you have Swiss cheese in the action, |
| 2:07.2 | it can undermine the overall point, which is to give rid of the deficit, achieve reciprocity. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from PBS NewsHour, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of PBS NewsHour and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.