Banks Warn of Risk to U.S. Economy Because of Tariffs

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 11 April 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for April 11. In earnings calls today, executives warned that President Trump’s tariffs were sending the U.S. economy into the unknown, hurting consumers and businesses. WSJ Heard on the Street columnist Jonathan Weil joins to discuss how banks are gauging what’s ahead. Plus, results of the latest consumer sentiment survey show that Americans have a pessimistic view of the economy, with the highest expectations for unemployment and inflation in years. And small U.S. businesses are looking to be the biggest losers in Trump’s trade war. We hear from WSJ senior special writer Ruth Simon about how they are weathering higher costs from tariffs. Alex Ossola hosts. See How Government Spending Is Up Even as Musk Touts Savings 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	guard your card.com.
0:33.4	U.S. consumer sentiment tanks and inflation expectations rise to their highest in more than 40 years.
0:40.5	Plus, Wall Street sounds the alarm for economic volatility ahead because of President Trump's tariff policy.
0:47.4	And small businesses might end up as the biggest losers of Trump's trade war.
0:52.0	It's like every day they wake up and it's a new reality that they're trying to adjust to.
0:56.8	It's Friday, April 11th.
0:58.6	I'm Alex Oslo for the Wall Street Journal.
1:00.7	This is the PM edition of What's News, the top headlines and business stories that move
1:05.2	the world today.
1:09.9	The U.S. economy showed fresh signs of strain today.
1:13.7	Consumer sentiment plunged further this month as recession fears built.
1:17.8	The University of Michigan survey, a closely watched index of consumer sentiment,
1:22.0	nosedived to 50.8 in April from 57 last month.
1:26.5	That was much lower than economists expected and is one of the
1:29.3	weakest readings in the past decade. The share of Americans expecting unemployment to rise in the
1:34.4	year ahead increased to the highest since 2009, and inflation expectations in the year ahead
	...

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