What’s Behind President Trump’s Trade Agenda

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 2 May 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for May 2. President Trump wants to establish near absolute American power over global trade rules, with Trump personally at the center of it all. WSJ reporter Gavin Bade discusses the administration’s strategy—and the risks that come with it. And Harvard's president fights back against Trump’s threat to revoke its tax-exempt status, saying any such move would be "highly illegal." Plus, the U.S. added 177,000 jobs in April despite tariff uncertainty. Chief economics commentator Greg Ip discusses whether such gains can last. Pierre Bienaimé hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Americans love using their credit cards, the most secure and hassle-free way to pay.
0:04.0	But DC politicians want to change that with the Durban Marshall Credit Card Bill.
0:08.0	This bill lets corporate megastores pick how your credit card is processed,
0:13.0	allowing them to use untested payment networks that jeopardize your data security and rewards.
0:18.0	Corporate megastores will make more money and you pay the price.
0:22.1	Tell Congress to guard your card because Americans lose when politicians choose. Learn more at
0:28.1	guardyercard.com.
0:33.0	The U.S. economy keeps adding jobs despite tariff uncertainty, but can it last?
0:39.4	Plus, what's driving President Trump's trade agenda?
0:42.4	It's all about maximizing Trump's political power over not just people in the United States,
0:49.4	not just U.S. politicians, but the global economy as well.
0:53.6	And President Trump says Harvard's tax exemption will be revoked.
0:57.7	Harvard President Alan Garber says such a move would be highly illegal and destructive.
1:03.2	It's Friday, May 2nd.
1:04.8	I'm Kirgyname for the Wall Street Journal, filling in for Alex Osce.
1:08.2	This is the PM edition of What's News, the top headlines, and business
1:12.0	stories that moved the world today. Despite tariff uncertainty, employers in the U.S. added
1:20.2	177,000 jobs in April, beating the expectations of economists pulled by the Wall Street Journal.
1:26.4	But hiring slowed slightly compared to
1:28.3	March's pace in a period that saw changing tariff announcements and market turmoil. The unemployment
1:33.7	rate, based on a separate survey, held steady at 4.2%. So what do these numbers tell us about the
1:40.1	effects of Trump's trade policy? For that, I'm joined by our chief economics commentator, Greg,
	...

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