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The 11th Hour with Stephanie Ruhle

President-Elect Trump vows sweeping tariffs on Day One

The 11th Hour with Stephanie Ruhle

MS NOW, Stephanie Ruhle

Ms Now, Congress, Politics, Washington, News, Government, Versant, Versant Media, President, Policy, Senate, Msnbc

4.43.6K Ratings

🗓️ 27 November 2024

⏱️ 42 minutes

🧾️ Download transcript

Summary

America's closest trading partners react to Trump's Day One promise to slap tariffs on Mexico, Canada and China. Plus, the Biden's administration proposes expanding coverage of the nation's most popular weightloss drugs for millions of Americans. And, a ceasefire agreement is reached between Israel and Hezbollah - what it could mean for the Middle East. Jon Allen, Molly Jong Fast, Jeff Stein, María Urbina, Dr. Kavita Patel, and Nayyera Haq join The 11th Hour this Tuesday.

Transcript

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0:00.0

Tonight, Trump makes good on his economic agenda, promising to hit America's closest trading partners with across-the-board tariffs on day one.

0:10.2

Plus, a game-changing proposal from the Biden White House, expanding coverage of weight loss drugs for millions of Americans.

0:17.5

And a ceasefire is reached between Israel and Hezbollah, a rare piece of good news in the

0:22.8

Middle East as the 11th hour gets underway on this Tuesday night.

0:30.3

Greetings, everyone. I'm Simone Sanders Townsend, in for Stephanie Rule. And it seems, folks,

0:35.5

we are headed back to the days of policy by tweet, or at least

0:38.7

truth social. Today, everyone from world leaders to small business owners reacted to Trump's

0:43.8

post late Monday about his first move in office, an executive order slapping tariffs on Mexico,

0:49.4

Canada, and China. And he's framing the proposal as a response to the ongoing fentanyl crisis. NBC's

0:55.6

Hallie Jackson has the details. President-elect Trump now announcing on his first day in office,

1:02.1

not just a 10% added tariff on China, but also 25% tariffs on anything imported from Mexico

1:09.5

and Canada, America's two biggest trading partners.

1:13.3

Online, Mr. Trump suggesting its retaliation for the fentanyl entering the U.S., those countries

1:19.2

deflecting blame, and the president-elect referencing migrants coming from Mexico and Canada.

1:24.8

I had a good call with Donald Trump last night again. We talked about some of the

1:28.5

challenges that we can work on together. Mr. Trump's proposal could blow up the trade agreement.

1:33.3

He himself helped to negotiate in his first term. We got it done. And could be challenged in court.

1:39.1

Remember, tariffs are a tax on things other countries send here. and those other countries don't pay the tax directly.

1:46.3

It gets passed down to companies instead, and often to you. The U.S. relies on both Canada and Mexico

1:52.8

for cars and car parts, from Chevy pickups to Chrysler minivans. So the auto industry, now bracing for a blow,

2:00.4

including in states like Michigan,

2:02.1

which Mr. Trump won. Mexico supplies more than half the fruits and veggies coming into the U.S.,

...

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