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The 11th Hour with Stephanie Ruhle

Markets on edge hours before Trump’s newest tariffs go into effect

The 11th Hour with Stephanie Ruhle

NBC News

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

4.53.6K Ratings

🗓️ 9 April 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Wall Street is on edge hours before Trump's newest round of tariffs is set to go in effect. And, a look at the strategy behind Trump’s economic policy and the White House's plans to pass tax cuts by the summer. Plus, a conversation with author Michael Lewis on the importance of federal workers who are now being targeted by DOGE. Jeff Mason, Gillian Tett, David Gura, and Michael Lewis join the 11th Hour this Tuesday.

Transcript

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0:00.0

Tonight, global markets on edge just hours before the administration's new round of tariffs take effect.

0:07.0

We'll get into it. Then the White House zeroes in on passing tax cuts by summer.

0:12.0

But are all Republicans on board right now? Plus, who is government?

0:17.0

Michael Lewis joins me to talk about the critical public servants. Doge is now trying to

0:22.3

destroy as the 11th hour gets underway on this Tuesday night.

0:32.0

Good evening. Once again, I am Stephanie Rule. We're going to start tonight with a deep

0:36.7

deep breath because it is

0:39.8

day 79 of the second Trump administration, and tonight is all about money power politics. In less than

0:45.8

one hour, Trump's new additional tariffs on goods from dozens of countries will go into effect.

0:51.5

That will bring the total tariffs on Chinese goods to 104%. Right now,

0:57.6

Chinese leaders are showing no signs of giving in to Trump's threats. And Canada, one of America's

1:03.0

closest allies is putting their own tariffs into effect at midnight, a 25% tariff on American car parts

1:09.6

and some finished cars. However, it sounds like there could be,

1:14.8

could be growing Republican opposition to Donald Trump's tariffs on the Hill.

1:19.6

Axios now reporting that at least a dozen House Republicans are considering signing on to

1:24.6

Nebraska Congressman Don Bacon's bill to limit the president's power to impose unilateral tariffs.

1:30.7

But Congressman Bacon says he is not likely going to try to bring it up for at least a month or two.

1:35.6

And you know what could happen between now and then a lot of bad stuff?

1:38.7

Meanwhile, senators from both sides of the aisle were pushing hard today for the president's chief trade officer,

1:45.7

trying to get some answers of the administration's actual strategy. And here's the problem.

1:50.5

They couldn't get many. Watch this.

1:53.7

The U.S. economy has gone from the envy of the world to a laughing stock in less time than it took to finish March madness. What is the plan?

...

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