Another rotten day in the markets, and we're still talking tariffs.

From American Public Media, this is Marketplace.

In Washington, D.C., I'm Kimberly Adams in for Kai Rizdahl. It's Friday, April 4th. Thank you for joining us.

Well, that was a week. And while the headline econ number of the day is the 228,000 jobs added to the economy in March,

that monthly jobs report comes with quite the shadow cast over it because of the sheer wave

of tariff news we got this week. So much to discuss, so little time. We have Catherine

Rampel at the Washington Post and Sedeep Reddy at Politico. Hey, you two. How's your week been?

Hi, Kimberly. I survived it.

So I'd love to hear from the both of you because with the disclaimer that the stock market is not the economy and all, you cannot ignore the market reaction to these tariffs. We're seeing drops like we haven't seen since the start of the pandemic.

So what does that say to you, Catherine?

It says that markets did not adequately

prepare for the fact that Trump is the tariff man. He told us he was going to do something

along these lines. And for whatever reason, those, I don't know, red flags were ignored. And now we're dealing with the consequences.

Although, to be fair, I think the tariffs were even worse than even he had televised on the campaign trail.

He said 10% tariffs globally.

Now he's saying 10% minimum tariffs globally with them being a lot higher on some of our biggest trading partners.

So, yeah, markets are digesting the news and getting very ill.

But I mean, Sadipe, you're on the same White House press distribution list than I am.

And they're saying nothing but that it's been wins.

Yeah, that does not really work.

There's obviously a messaging game here to try to have everybody avert their eyes.

We are living through a truly historic moment.

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