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NBC Meet the Press
Meet the Press NOW — April 3
Apr 3, 2025
Rep. Steven Horsford, a Democratic Congressman from Nevada, discusses the economic fallout from Trump's tariffs, emphasizing the need for a Democratic strategy to counter these policies. Meanwhile, Rep. Mike Lawler, a Republican from New York, defends the tariffs as necessary negotiating tools. CNBC's Steve Leisman offers insight into market reactions and warns of a potential recession. The conversation explores bipartisan concerns over tariffs, their implications for American families, and the complexities of congressional powers in these turbulent economic times.
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Quick takeaways
- The recent tariff announcement by President Trump has triggered a drastic 1,600-point drop in the Dow, heightening recession fears among investors.
- While administration officials tout long-term economic benefits from tariffs, immediate negative market reactions suggest significant investor distress and uncertainty.
Deep dives
Impact of Tariffs on the Stock Market
The recent announcement of significant tariff increases by the President has led to a severe downturn in the stock market, with the Dow dropping over 1,600 points. The S&P and Nasdaq experienced even steeper losses, prompting warnings from economic forecasters about an impending recession. This marks the worst performance for these indices since the initial market collapse due to the pandemic in March 2020. The heightened uncertainty about the economic implications of these tariffs is causing distress among investors and everyday consumers alike.
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