Welcome to the beat. I'm Ari Melbert. We are tracking the continued Trump-induced economic

problems in the country. There are some signs of relief, but also a ton of problems. And as we've

been doing, since this story hit Main Street and Wall Street and affected so many people,

we're going to walk through it on the evidence. We have the Trump economic agenda,

which is not working. We have markets plummeting again after the

easing that we saw yesterday. We warned you last night in our reporting that the tariff problems

that arrived initially at 10% were where we landed. So we were telling you then what the markets

then started a price in today, that these are big problems and that there is uncertainty because of who leads the United States right now. Continuing on that point,

we have new tariffs to report today, which rolls back some of the gains yesterday, and also

shows that there was no grand strategy as some MAGA allies were trying to claim, or as I told

you, some people

concerned about the markets were hoping that just praising Trump for being a master tactician might

help him further retreat from what he had blown up. Tonight we have a very special guest on this who says

that Trump is erratic and that his policies are stupid and that we could all have to pay for them.

The Nobel Prize winning economist Paul Krugman. So that is a special guest, one of the best you

could ask for. The big news is Trump dialing up more tariffs to China up to 145 percent.

The 10 percent tariffs I mentioned, which are still in place, has begun to fuel even more of the fear and uncertainty that led to the market crashes, which had Trump backing off and retreating yesterday.

If he were to retreat entirely, you wouldn't get back to zero, but you would get away from some of the worst problems.

But he's only retreated partially, and the uncertainty is

feeding this. Stocks are selling off sharply again today as a new reality sinks in. And let's start

with some numbers. 1500 is about the amount of points the Dow is down right now. And of course,

the biggie, 145%. That's the total tariff rate on China now.

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