Paul Krugman on tariffs, Jessica Yellin promotes her new Substack, plus Amie Parnes and Jonathan Allen discuss their great new book on the 2024 campaign.
The Jim Acosta Show
Jim Acosta
4.9 • 634 Ratings
🗓️ 10 April 2025
⏱️ 55 minutes
🧾️ Download transcript
Summary
Thank you Paul Krugman, emily nunn, Kartik Krishnaiyer, Rebecca Gummere, Different Lens, and many others for tuning into my live video with Jon Allen, Jessica Yellin, Paul Krugman, and Amie Parnes! Join me for my next live video in the app.
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Transcript
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| 0:00.0 | Welcome to the Jim Acosta show. It is Thursday, Friday Eve, as I like to call it. |
| 0:05.5 | And today we're talking about the art of the retreat. Stocks fell hard as the markets tensed up |
| 0:11.2 | yet again today, despite the big gains on Wall Street yesterday when Trump caved and reversed course |
| 0:16.4 | on tariffs. The White House sounding less confident today. The thrill is obviously gone. It was just 24 |
| 0:22.7 | hours ago when we were told that Trump's very stable genius superpowers were working their magic. |
| 0:29.0 | As it turns out, that's not the case. The Dow down about a thousand points, closing the day about |
| 0:34.2 | a thousand points down. That was after that wild swing upward in the market |
| 0:40.0 | yesterday. As you can see with me today, Paul Krugman, noted economist, former New York Times, |
| 0:45.4 | columnist. Paul, great to see you. Thanks for doing this. Good to be on. Not so good to be in the market. |
| 0:51.5 | They're good to be on. Not too good a day on Wall Street. |
| 0:55.7 | And what's your son? |
| 0:56.5 | Did it surprise you too much that it dropped back down today? |
| 0:58.9 | I mean, obviously, I mean, you know, what he did yesterday was comical if it wasn't so terrifying. |
| 1:05.7 | But your thoughts? |
| 1:07.5 | Well, I'm actually, I think the market, it really should have dropped. It should have given up all of the gains from yesterday because now that we've had a chance to look at this thing, the latest plan from Trump, it's actually no better than what we have for. If you actually work out, you know, how high is the overall average tariff rate? |
| 1:28.3 | It's about the same. And if you add in the other stuff, this is, I mean, if you, you would be hard put |
| 1:35.3 | to devise a set of moves on tariffs that would be as destructive as what we've just seen. |
| 1:41.0 | So it's kind of maximal uncertainty, maximum destruction of confidence combined with minimal. |
| 1:49.2 | I don't know if there's any upside. |
| 1:50.6 | But anyway, this is really amazing. |
| 1:52.5 | And we don't know where the markets are going to go next because yesterday they recovered, |
| 1:56.7 | because he caved on these tariffs. |
... |
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