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

The Jimmy Dore Show

Jimmy Dore

Humor, Sketches, Performing Arts, Dore, Arts, Politics, Jimmy, Debate, Comedy

4.6 • 3.8K Ratings

🗓️ 7 April 2025

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

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!

Transcript

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0:00.0	Come see us on tour in Los Angeles, Bakersfield, San Jose, Buffalo, Toledo, Montreal and Toronto.
0:09.1	Go to Jimmy Door.com for the cheapest tickets.
0:11.5	Hey, this is the Jimmy Door Show.
0:13.1	Aaron Mate speaking.
0:14.1	Who's calling, please?
0:16.3	Hey, what's up, man?
0:17.3	This is J.D. Vance.
0:19.2	Oh, hello, Mr. Vice President. How are you doing?
0:23.3	I'm doing pretty good, I guess.
0:25.3	Hey, happy liberation day.
0:27.8	What now?
0:29.7	That's what Mr. Trump is calling today when he's announcing his newest slate of big-ass tariffs on other countries that are dumb,
0:40.0	so that they'll stop taking advantage of America and we get down to the business of fixing this economy.
0:44.4	Well, so far as tariffs have served only to tank the stock market and raise prices on consumer
0:49.4	goods, the economy that inherited wasn't exactly in shambles, especially for the wealthy
0:54.0	interests that he serves wasn't exactly in shambles, especially for the wealthy interests that he serves.
0:57.2	Oh, really?
0:58.9	The economy was good, huh?
1:00.8	Well, tell that to the auto worker who got laid off in 1994.
1:05.5	He doesn't think the economy's so great now, does he?
1:09.0	For real, does he?
1:10.0	I don't know this guy what does that have to do
	...

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