Stocks PLUMMET After Trump’s Tariffs Announced! w/ James K. Galbraith

2025-04-07

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Stocks plunged on Thursday and then again on Friday as U.S. trading reacted to President Trump’s announcement of heavy tariffs on nearly every nation exporting products to the United States. Trump announced Wednesday he would impose a 10 percent tariff on all imports, with higher rates for key trading partners in response to what the White House considers unfair trade practices. Tariff rates ranged from 20 percent for European Union products to a total tariff of 54 percent on Chinese goods.

Stocks plunged on Thursday and then again on Friday as U.S. trading reacted to President Trump’s announcement of heavy tariffs on nearly every nation exporting products to the United States.

Trump announced Wednesday he would impose a 10 percent tariff on all imports, with higher rates for key trading partners in response to what the White House considers unfair trade practices. Tariff rates ranged from 20 percent for European Union products to a total tariff of 54 percent on Chinese goods.

Guest host Aaron Maté and economist James K. Galbraith discuss what Trump hopes to accomplish with the tariffs and whether he’s likely to succeed.

Plus segments on Trump’s bizarre method for calculating each nation’s tariff, auto workers cheering Trump’s tariff announcement, Senator Tom Cotton mocking anyone who DOESN’T want to bomb Iran and former Congressman Dennis Kucinich on Democrats’ plunging approval ratings.

Also featuring Mike MacRae. Plus a phone call from JD Vance!

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