Well, baby, we were about to have a night.

Good evening.

Once again, I am Stephanie Rule.

Welcome to the nightcap.

And if you are not aware, but I think you are, it is day 75 of the second Trump administration.

And in less than one hour, Donald Trump's 10% tariffs on imports from all countries will go into

effect. In response to this latest round, we saw another complete meltdown on Wall Street today.

The Dow, S&P, and NASDAQ, another day of losses that we have not seen since the global pandemic hit.

Meanwhile, other companies are retaliating.

China is now putting a 34% tariff on all American products starting next week. That's why they call it a trade war. So what was the man responsible for all of this doing today, the leader of

our country? He went golfing down in Florida. And tonight, he is attending a candlelit

dinner for his MAGA Inc. Superpack at Mar-a-Lago. It's a million bucks ahead. He did post on social

media today. This is a great time to get rich, richer than ever before. But if you ask J.P. Morgan,

things are not so sunny. The bank's analysts say

there is now a 60% chance of a global recession. But let's go beyond markets for a second

to business and consumers. Tomorrow, when you walk into your favorite shopping mall or store,

I want you to look around because the clothes, the shoes, the phones, you know where they're

produced overseas.

Do you know why? That is where manufacturing exists. Because we don't have mass production of

many of those products here. And there's no plans to produce them here. So when Howard Ludnik

says robots, robots are going to make everything, my question is, who, what, where? Nobody's planning

this. That will take years. And for those who say, leave it to Trump, he is the master of the

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