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The Situation Room with Wolf Blitzer

Recession Fears and a Surging Trade War

The Situation Room with Wolf Blitzer

CNN

News

3.6857 Ratings

🗓️ 10 March 2025

⏱️ 76 minutes

🧾️ Download transcript

Summary

President Trump issues new threats against America's top trading partners as those countries hit back. Plus, Secretary of State Marco Rubio is on his way to Saudi Arabia for talks to end Russia's war in Ukraine. What is President Trump now demanding Ukraine must do to restart US military aid?  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

I'm Pamela Brown happening now recession fears and a surging trade war.

0:07.0

New threats from President Trump against America's top trading partners as those countries hit back this morning.

0:14.0

And talks for peace right now. Secretary of State Marco Rubio on his way to Saudi Arabia for talks to end Russia's war in Ukraine.

0:22.1

But President Trump is now demanding Ukraine must do to restart U.S. military aid.

0:28.1

Welcome to our viewers here in the United States and around the world.

0:32.5

I'm Wolf Blitzer. You're in the Situation Room.

0:46.3

We begin this hour with a warning from the President on the U.S. economy. There are also new retaliatory tariffs in effect from China on U.S. farm goods.

0:52.3

They include a 15% tariff on chicken, wheat, corn, and cotton, and a 10%

0:58.4

tariff on produce, pork, beef, and dairy products. All this, as President Trump says,

1:04.2

U.S. tariffs on Canada and Mexico could go up while also refueling out the, refusing to rule out the possibility of a recession.

1:13.6

But are you expecting a recession this year?

1:17.6

I hate to predict things like that.

1:21.6

There is a period of transition because what we're doing is very big.

1:26.6

We're bringing wealth back to america that's a big

1:29.7

thing and there are always periods of it takes a little time it takes a little time all right

1:39.0

let's go live right now to our white house reporter elena trene elina what is the White House saying about all of this this morning?

1:46.0

Well, one thing I just want to point out right there off the top

1:49.0

is that we also heard the president doubled down on that later

1:52.0

when asked on Air Force One last night.

1:54.0

He repeated his claims really refusing to rule out that a recession could happen.

1:59.0

But look, we did hear from the director of the

2:02.1

Economic Council, Kevin Hassett, one of Donald Trump's top economic advisors, walking through

...

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