Morning Joe Morning Joe 4/3/25
9 snips
Apr 3, 2025 
Steve Ratner, a former Treasury official and economic analyst, dives into the controversial new tariffs announced by Trump, discussing potential impacts on consumer prices and political reactions. Legal correspondent Lisa Rubin sheds light on the ongoing legal battles related to the Trump administration, including issues surrounding deportation strategies. The conversation highlights the complexities of economic policy and its broader implications on voter sentiment and American families, intersecting with urgent matters like inflation and military operations.
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Trump's "Liberation Day"
- Trump announced sweeping tariffs, some as high as 54%, on major trade partners.
- He called April 2nd, 2025, "Liberation Day", claiming this would revitalize American industry.
Economic Consequences of Tariffs
- Steve Ratner believes these tariffs will significantly increase prices for American consumers.
- He anticipates severe economic consequences, including recession and inflation.
Who Pays Tariffs?
- Willie Geist points out Trump's misunderstanding of tariffs, as importers, not foreign nations, pay them.
- The cost is then passed onto consumers through wholesalers and distributors.