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NPR News Now

NPR News: 04-03-2025 5PM EDT

NPR News Now

NPR

News, Daily News

4.313.3K Ratings

🗓️ 3 April 2025

⏱️ 5 minutes

🧾️ Download transcript

Summary

NPR News: 04-03-2025 5PM EDT

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Transcript

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0:00.0

This message comes from MintMobile.

0:02.3

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0:05.3

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0:07.7

and all plans include high-speed data,

0:09.6

unlimited talk and text, and nationwide coverage.

0:12.2

See for yourself at mintmobile.com slash switch.

0:16.8

Live from NPR News in Washington, I'm Jack Spear.

0:23.0

One for the record books on Wall Street today.

0:26.2

It was the worst single day for the U.S. financial markets in five years.

0:31.5

All the major U.S. stock market indexes falling nearly 4% or more following yesterday's announcement by President Trump of steep tariffs on goods imported into the U.S.

0:41.6

Virtually no sector of the market was safe today.

0:43.6

Everything from tech shares to oil fueling the shock, Bitcoin, the U.S. dollar, and gold also fell lower today.

0:50.6

Even as markets are reeling, President Trump is defending his tariff announcement.

0:55.7

NPR's moralized from reports he's predicting his tariffs will cause trillions of dollars to flood into the U.S.

1:00.6

On his way from the White House to Florida for a charity golf event, Trump said he wasn't surprised by the market reaction to his tariffs.

1:07.6

The Wall Street Journal estimates that the market drop equal to loss of $2.7 trillion,

1:13.0

but President Trump insists that the markets ultimately are going to surge.

1:17.1

The thing that people have to talk about, we're up almost the $7 trillion of investment

1:22.7

coming into our country, and you'll see how it's going to turn out. Our country's going to boom.

1:28.5

U.S. trading partners are promising to retaliate with tariffs of their own, which are, in

1:33.3

effect, an import tax paid by American consumers, who economists say may pay as much as $2,100 a year

1:40.1

more per family. Mara Liason, NPR News.

...

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