New wave of Trump’s tariffs set to go into effect at midnight

The 11th Hour with Stephanie Ruhle

MS NOW, Stephanie Ruhle

Politics, Versant, Ms Now, Versant Media, Washington, News, President, Policy, Government, Senate, Congress, Msnbc

4.5 • 3.6K Ratings

🗓️ 7 August 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dozens of new tariffs are set to take effect at midnight as Trump threatens a 100 percent tariff on chips and semiconductors. Then, three more victims of Epstein speak out against the Feds for their handling of the case. Plus, RFK Jr. announces that the Dept. of Health & Human Services will cut nearly $500 million in mRNA vaccine research. Sam Stein, Dan Nathan, Basil Smikle, and Dr. Vin Gupta join The 11th Hour this Wednesday.

Transcript

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0:00.0	Tonight, a new wave of tariffs goes into effect at midnight, with Trump doubling down the rate
0:06.5	on a crucial trading partner and threatening a 100% tariff for computer chips coming into the
0:12.8	U.S. Then the White House struggles to tamp down the Epstein controversy as more of his victims
0:19.2	blast the feds for their handling of the case.
0:22.2	Plus, why funds to develop vaccines that fight COVID and the flu are being cut as the 11th hour
0:28.8	gets underway on this Wednesday night.
0:34.5	Good evening once again.
0:36.1	I am Stephanie Ruhl and welcome to the midweek nightcap. It is day
0:39.4	199 of the second Trump administration, if you are keeping track. And in just under one hour,
0:46.5	President Trump's reciprocal tariffs on imports from nearly 70 different countries will take
0:51.5	effect. It is all part of his effort to reorder global trade.
0:55.5	So we're going to start tonight with money power politics. This week, some countries like
0:59.5	Switzerland made a last ditch effort to negotiate a trade deal. But this afternoon, the Swiss president
1:05.1	left D.C. empty-handed. The country is now facing a 39% tariff. Also today, Trump decided to double
1:13.1	tariffs on India as punishment for buying Russian oil. Back on August 27th, or excuse me, on August 27th,
1:20.8	the rate will then spike from 25% to 50%. And earlier today, at an event unveiling Apple's new U.S. investment, the president
1:30.0	said he is planning to put a 100% tariff on a key tech component.
1:37.3	We'll be putting a tariff on of approximately 100% on chips and semiconductors. The good news for companies like Apple is if you're building in the United States or have
1:49.6	committed to build, without question, committed to build in the United States, there will
1:54.0	be no charge.
1:55.9	In other words, we're not going to be charging.
1:58.1	So a lot of countries, a lot of companies are leaving various
	...

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