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CNN 5 Things

Trump’s tariff promise, Biden’s actions revoked, LA arson attacks & more

CNN 5 Things

CNN

News, Daily News

3.71.3K Ratings

🗓️ 21 January 2025

⏱️ 6 minutes

🧾️ Download transcript

Summary

President Donald Trump is promising to introduce tariffs as early as next week. Meanwhile, Trump is also rushing to undo much of former President Joe Biden’s legacy. China isn’t happy about Trump offering TikTok a lifeline. LA is now grappling with arsonists as it fights the wildfires. Plus, we’ll tell you how a lonely fish has been saved by cardboard cut-outs. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

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0:31.2

From CNN, I'm Charlie Drever with the five things you need to know for Tuesday, January 21st.

0:45.3

President Donald Trump is promising to put a 25% tariff on Mexico and Canada from as early as next weekend. Trump has also said on the campaign trail he would also introduce across-the-board tariffs of up to 20% on imports from all countries, and a 60% levy on goods from China.

0:57.0

Although administration officials continue to debate how to make good on his pledges,

1:02.0

Trump made clear in his inaugural speech their promises he intends to keep.

1:07.0

Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens.

1:16.6

If Trump's plans do go ahead, economists predict that this will cost the typical U.S. household

1:22.6

about $2,000 extra a year.

1:25.6

And as political commentator David Frum explains, the tariffs will hit Americans' back pockets

1:31.6

in several ways.

1:33.0

Remember, a tariff is not just a tax on the finished good, the tomato or the avocado

1:37.2

that you get from Mexico.

1:38.5

A tariff applies to every product that has any foreign component in it.

1:43.0

Your tariff Mexican glass, American office buildings become more expensive.

1:48.0

And of course, you tariff Mexican beer and they buy less American barley.

1:52.0

Donald Trump began ripping up Joe Biden's legacy on Monday,

1:57.0

rescinding 78 of the executive actions made during the former president's term.

2:01.6

Among the revoked policies was an order allowing transgender people to serve in the US military,

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