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Amanpour

Will Trump's Tariffs Trash the Economy?

Amanpour

CNN

News

4.2929 Ratings

🗓️ 11 March 2025

⏱️ 57 minutes

🧾️ Download transcript

Summary

As fears of an economic downturn grow in the US, President Trump today posted that he will raise tariffs on all Canadian steel and aluminum from 25% to 50% and threatened to shut down the Canadian automobile industry. This comes as the Dow and S&P 500 each posted their worst day of the year. Former Vice Chair of the Fed Richard Clarida joins the show to discuss this all.  Also on today's show: Alina Polyakova, CEO & President, Centre for European Policy Analysis; Winnie Byanyima, UNAIDS Executive Director; Dr Ashish Jha, Dean, Brown University School of Public Health/ Fmr. COVID 19 Response Coordinator Under Pres. Biden  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Hello everyone and welcome to Ammanpur. Here's what's coming up.

0:08.4

My government will keep our tariffs on until the Americans show us respect.

0:14.9

U.S. markets sink as Trump's trade war escalates. Could a full-blown recession be in the cards? I asked Richard

0:22.8

Claretta, former vice chair of the Federal Reserve. Then, Ukraine launches a huge drone attack

0:30.7

against Moscow as talks begin between Kiev and Washington. We get the latest. Plus, the Trump administration says it's completed its gutting of USAID.

0:42.3

So what will the impact be on the ground?

0:45.3

I discuss with top UN official Winnie Binyamina.

0:49.3

And over time, my hope is we will settle to understanding just how devastating COVID was.

0:54.2

On the fifth anniversary of the COVID pandemic, former White House COVID coordinator, Dr. Ashish Jha,

1:00.8

tells Hari Srinivasan what we must learn from the outbreak and how people are still suffering from it. Welcome to the program, everyone.

1:23.6

I'm Biongolidriga, New York, sitting in for Christian Amunpur.

1:35.9

Well, as fears of an economic downturn grow in the U.S., President Trump is literally doubling down on his trade war with America's neighbor to the north,

1:45.0

posting today that he will raise tariffs on all Canadian steel and aluminum from 25% to 50% and threatening to shut down the Canadian automobile industry. Now, this comes as U.S. markets continue to plunge.

1:48.0

Just this week, the Dow and S&P 500 each posted their worst day of the year.

1:53.0

Republicans and the President were elected partly on promises of lowering prices,

1:59.0

but are consumers now going to see the opposite.

2:02.0

Join me now on this is Richard Claretta, former vice chair at the Fed.

2:06.0

Richard, thanks so much for taking the time to join us.

2:08.2

You know, the Wall Street Journal had a headline just a few hours ago that reads,

2:12.0

Wall Street fears Trump will wreck the soft landing.

2:15.4

Is that a fear that you share now with his policies?

2:19.9

Well, it's certainly a risk.

...

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