meta_pixel
Tapesearch Logo
Log in
The 11th Hour with Stephanie Ruhle

The Nightcap: 'Incompetence': Trump threatens American economy with tariff letters

The 11th Hour with Stephanie Ruhle

NBC News

Politics, Washington, News, President, Policy, Government, Senate, Congress, Msnbc

4.53.6K Ratings

🗓️ 12 July 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

This Nightcap roundtable discusses Trump’s chaotic trade policy as he posts letters with new tariff rates on social media. Then, Deputy FBI Director Dan Bongino considers resigning after a confrontation over the 'Epstein files'. Ali Vitali, Fmr. Senator Doug Jones, and Mike Murphy join The 11th Hour this Friday.

Transcript

Click on a timestamp to play from that location

0:00.0

Good evening. Once again, I am Stephanie Rule. Welcome to the nightcap. It is day 173.

0:12.6

It's been a lot of days of the second Trump administration. And this week, tariffs are back in focus on Sunday, just days before a 90-day deadline. Treasury Secretary Scott Bessent

0:24.6

teased that the administration was close to several deals. But by the end of the week, that's today,

0:30.1

no deals, not even frameworks of deals. In fact, the one President Trump announced last week

0:36.2

of Vietnam came as a surprise to the negotiators in

0:39.4

Vietnam because the numbers in the deal reportedly were not the ones that they agreed to.

0:44.8

What we did get was the president releasing two dozen letters to trading partners declaring new

0:50.5

tariff rates now that are going to start on August 1st, including a 35% tariff on

0:57.1

our closest neighbor and ally, Canada. So now, no 90 deals in 90 days as promised, and just the

1:05.0

president telling the rest of the world, here's your tariff rate, take it or leave it. And it's not

1:10.1

just the chaos within the administration's

1:12.0

economic policy we're seeing. The president's deputy FBI director, Dan Bongino, you know him from

1:17.8

Fox News. He might actually be leaving his post after a heated confrontation with Attorney General

1:23.3

Pam Bondi over the DOJ's handling of the Jeffrey Epstein files. That is according to two sources familiar with the situation.

1:31.2

That confrontation happened on Wednesday, and Bongino did not report to work today.

1:37.1

We got a lot to get to, so let's bring in our nightcap.

1:39.5

My dear, dear friend and colleague, Ali Vitale, has stayed up extra long today to join us.

1:45.5

She is NBC's Capitol Hill correspondent and host of way too early right here on MSNBC.

1:51.6

Former Democratic Senator Doug Jones of Alabama and Mike Murphy.

1:55.3

Former Republican strategist and advisor to George Bush, Mitt Romney, and John McCain.

2:00.6

Now he is the co-director of the Center for the Political Future at University of Southern California.

2:06.4

All right, gang, I am thrilled you're here, so let's start with tariffs.

...

Transcript will be available on the free plan in 27 days. Upgrade to see the full transcript now.

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

Generated transcripts are the property of NBC News and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.