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The Lead with Jake Tapper

Trump Aims For Massive Reciprocal Tariffs Despite Inflation Concerns

The Lead with Jake Tapper

CNN

News

41.6K Ratings

🗓️ 14 February 2025

⏱️ 79 minutes

🧾️ Download transcript

Summary

President Trump announced his plan today for even more tariffs saying it will benefit the United States in the long run even if it hurts your wallet in the short term. We examine when you could see those spikes and those savings. European officials are warning about what a United States deal with Russia to end the war in Ukraine might entail.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

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0:17.5

President Trump admits his tariffs could in the short term cost you more money. The lead starts right now. President Trump admits his tariffs could in the short term cost you more money.

0:22.5

The lead starts right now.

0:24.5

President Trump in the Oval Office this afternoon announcing his plan for even more tariffs.

0:28.3

The president says it will all benefit the United States in the long run, even if it hurts your wallet in the short term.

0:33.6

But when could you see those spikes and then those savings? I'll ask a top White House

0:38.8

Trade official. Another major headline from the Oval, President Trump, says he trusts Russian

0:43.6

President Vladimir Putin when Putin claims he wants to end the war in Ukraine. But European

0:48.2

officials are warning this could lead to a, quote, dirty deal. And a top U.S. prosecutor just quit her job after she was ordered to

0:56.2

drop the corruption case against New York City Mayor Eric Adams. And then moments later, two more

1:01.1

Justice Department officials walked out the door are even more resignations on the way.

1:14.9

Welcome to the lead. I'm Jake Tapper. At any moment, we are expecting to see President Trump for the third time today, this time in a bilateral meeting with Indian Prime Minister Narendra Modi.

1:20.7

But Trump has already made multiple headlines today. Let's start with tariffs. In his first

1:25.4

appearance earlier today, the president kicked off the process to introduce sweeping reciprocal tariffs matching higher rates

1:32.0

that other nations currently charged to import American goods. This could potentially boost

1:36.9

America's revenue. It could also potentially ignite a global trade war and theoretically add to

1:42.2

inflation. When pressed by CNN's Caitlin Collins, Trump himself acknowledged a possibility that in the short-term prices could go up.

1:49.0

Mr. President, because of these tariffs, who do you think voters should hold responsible?

1:57.0

Oh, I think what's going to go up is jobs are going to go up, and prices could go up somewhat short term, but prices will also go down.

2:05.0

The second time this afternoon, we saw Mr. Trump moments ago.

2:08.6

He was swearing in the ever-controversial Robert F. Kennedy Jr., who is the new secretary of the Department of Health and Human Services, despite decades of anti-science,

2:21.1

anti-medicine activism. All of this comes as Trump's long-promised firings of federal government

...

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