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Trump’s Biggest Bet Yet
Apr 3, 2025
Karen Travers, ABC's White House correspondent, and Jay O'Brien, ABC Capitol Hill correspondent, delve into President Trump's sweeping tariff plan that threatens to raise costs on a majority of foreign goods. They discuss the surprising bipartisan opposition from four Senate Republicans against the tariffs on Canada, showcasing the growing tension in Congress. Additionally, the conversation touches on a groundbreaking Supreme Court ruling on flavored vaping regulations, highlighting the intersection of trade policies and public health.
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Quick takeaways
- Trump's new tariff plan, seen as a national emergency response, could raise consumer prices and impact the U.S. economy significantly.
- The Supreme Court's ruling empowering the FDA to restrict flavored vaping products reflects ongoing public health concerns despite potential market challenges for vape companies.
Deep dives
President Trump's Tariff Announcement
President Trump has announced a new series of tariffs on foreign imports, which could significantly impact the U.S. economy. The tariffs include a 10% baseline tax on all foreign goods that will take effect shortly, as well as reciprocal tariffs aimed at countries with the worst trade imbalances. This plan is characterized as a response to what Trump labels a national emergency regarding chronic trade deficits, with the president claiming that it represents a much-needed shift in American trade policy. Critics argue that these tariffs could lead to increased costs for consumers and potentially harm economic stability.
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