Pence hits Trump with a tariff reality check as trade war escalates yet again

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

🗓️ 11 July 2025

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Trump threatens 35 percent tariff on Canada, as the administration fails to announce any new trade deals. Then, Trump approves the delivery of more weapons to Ukraine starting tomorrow, as Russia launches a new attack on Kyiv today. Plus, young Democratic officials launch an initiative to reshape the party’s image and recruit fresh faces. Peter Baker, Daniella Diaz, Nayyera Haq, John Harwood, Rohit Chopra, Mallory McMorrow, John Della Volpe, and Aaron Reichlin-Melnick join The 11th Hour this Thursday.

Transcript

Click on a timestamp to play from that location

0:00.0	Tonight, a return to chaos, no new trade deals, a brand new tariff threat against a major U.S. ally,
0:08.0	and why the president's ex-vice president warns his former boss's tariff agenda will harm Americans.
0:15.0	Then the president approves more weapons to Ukraine as Russia bombs Kiev.
0:19.0	Plus, the Democrats search for a fresh face, how one
0:22.7	group of elected officials is hoping to remake the party as the 11th hour gets underway on this
0:28.8	Thursday night.
0:33.3	Good evening once again. I am Stephanie Buhl, and it is day 172. Take a breath on that one of the second Trump administration. Donald Trump's new deadline for countries to make trade deals or face huge tariffs is now officially three weeks away from tomorrow. And tonight, he is threatening a new whopping 35% tariff on goods from Canada, one of
0:56.9	America's top three trading partners, Canada, the Great White North. And for those who are keeping
1:02.0	score at home, thus far, the administration has published just 23 letters and announced zero new
1:09.4	trade deals. Today, he told NBC's Kristen Welker that he plans to impose blanket tariffs of 15 or 20%
1:17.2	on all remaining countries.
1:19.5	And his former vice president, Mike Pence, yes, Mike Pence is back.
1:23.1	He is giving Trump's plans a major reality check.
1:27.3	And he is saying it on the record.
1:29.1	Watch this.
1:31.0	If we have a unilateral tariff of 10% on the American economy of all imported goods, that's
1:36.6	four times the average tariff today.
1:39.5	I saw Secretary Besson speaking very glowingly about the projection is $300 billion in tariff revenue this year.
1:50.3	Well, tariffs are a tax.
1:53.6	And American importers and businesses and ultimately consumers pay almost all of that.
2:00.7	And so literally a week after we managed to extend the Trump pencil. businesses and ultimately consumers pay almost all of that.
2:00.9	And so literally a week after we managed to extend the Trump Pence tax cuts and prevent
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from MS NOW, Stephanie Ruhle, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of MS NOW, Stephanie Ruhle and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.