Tariff Fears, Trump Budget Plan Passes House, Deportation Ruling
Up First from NPR
NPR
4.5 • 52.8K Ratings
🗓️ 11 April 2025
⏱️ 14 minutes
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Transcript
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| 0:00.0 | Here are some vocabulary words to help describe this week. |
| 0:06.2 | The market is kind of like, ah! |
| 0:08.4 | And the consumer's like, ah! |
| 0:11.3 | Will the Fed step in to stabilize things with lower rates? |
| 0:14.5 | I'm Steve Inskeep with Michelle Martin, and this is up first from NPR News. |
| 0:21.0 | A budget plan extending President Trump's tax cuts narrowly gained approval in the House. |
| 0:26.6 | That will allow us now to move forward to have our committees actually drafting the one big, beautiful bill. |
| 0:32.9 | Even some Republicans worried that spending cuts targeting Medicaid could hurt working-class Trump voters. |
| 0:38.7 | So what is the Republican strategy? |
| 0:41.0 | And the Supreme Court says the Trump administration must return a Maryland man who was mistakenly deported to El Salvador. |
| 0:47.2 | Stay with us. We've got the news you need to start your day. |
| 1:03.2 | One of President Trump's many changes to the tariff rates on Chinese goods underlined the power held by a single person. |
| 1:07.3 | This week, the president made up a new tax rate that Americans pay for Chinese imports. |
| 1:11.6 | He made the announcement by composing a social media post with a couple of cabinet secretaries in the room. That was the process. One day later, the White House said the rate was |
| 1:16.4 | actually different than announced, marking the sixth time the president has changed the China |
| 1:21.4 | tariff in a matter of weeks. Last night, China struck back by raising their tariffs on U.S. imports |
| 1:27.3 | to 125%. |
| 1:29.6 | So what does all this mean for financial markets and the broader economy? |
| 1:33.2 | NPR, Scott Horsley, has been watching all these ups and downs, and he is with us now. |
| 1:37.5 | Good morning, Scott. |
| 1:38.6 | Good morning. More downs than ups lately. |
| 1:40.8 | Well, you sure got that right. |
... |
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