Have the ‘Liberation Day’ Tariffs Ended Globalism?
Crossroads with Joshua Philipp
The Epoch Times
4.9 • 594 Ratings
🗓️ 8 April 2025
⏱️ 66 minutes
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Summary
Conflicting events are sweeping the United States over the “Liberation Day” tariffs. On one side, large-scale protests against President Donald Trump’s policies were organized across the country. On the other side, Trump’s approval ratings in some polls have gone up, and analysts are raising questions on whether the impact to the stock market may not reflect on the wealth of average Americans.
Transcript
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| 0:00.0 | President Donald Trump's tariffs and other policies are causing quite the stir, and we're seeing |
| 0:05.2 | conflicting views on what he's calling Liberation Day tariffs. Large-scale protests against Trump's |
| 0:11.0 | policies were organized across the United States this weekend, all 50 states. But at the same |
| 0:16.9 | time, according to polls, Trump's approval ratings are actually up. And meanwhile, Trump's |
| 0:22.9 | tariffs are being framed as the final nail in the coffin for globalism. But is that really the case? |
| 0:29.0 | I'm the Epic Times senior investigative reporter Joshua Phillip, and you're listening to Crossroads. |
| 0:40.3 | Conflicting events are sweeping over the United States over Liberation Day and the whole |
| 0:44.2 | tariffs with that. On one side, you can look maybe on the streets where you live. Large-scale |
| 0:50.2 | protests against President Donald Trump's policies, They were organized in all 50 states. |
| 0:55.9 | On the other side, Trump's approval rating actually went up. And analysts are raising questions on, |
| 1:01.3 | well, is the impact on the stock market really reflective of the wealth of the average American? |
| 1:07.5 | Do these things actually correlate or not, right? Now look, some update in what's happening, |
| 1:12.8 | Kevin Hassett, director of the U.S. Economic Council, he told ABC News's This Week program that already |
| 1:19.5 | 50 countries have reached out to the Trump administration to work out deals, to reduce, or maybe |
| 1:25.7 | even get rid of the tariffs. And he added that he did not expect a big hit on consumers |
| 1:30.8 | because exporters are likely to lower their prices. |
| 1:35.3 | I got a report from the USTR last night that more than 50 countries have reached out to the |
| 1:39.6 | president to begin a negotiation. |
| 1:41.5 | But they're doing that because they understand that they bear a lot of the |
| 1:44.8 | tariff. And so I don't think that you're going to see a big effect on the consumer in the U.S. |
| 1:49.7 | because I do think that the reason why we have a persistent long-run trade deficit is these people |
| 1:54.8 | have very inelastic supply. They've been dumping goods into the country in order to create jobs, |
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