NBC Meet the Press Meet the Press NOW – August 7
Aug 7, 2025
Kelly O'Donnell, NBC News Chief Justice and National Affairs Correspondent, and Steve Liesman, CNBC senior economics reporter, dive into the latest political and economic controversies. They discuss President Trump's recent move to present unverified economic data following a weak jobs report. The conversation also covers Texas political tensions with Democrats resisting redistricting efforts amid a backdrop of economic challenges. Finally, they address geopolitical dynamics, including the anticipated meeting between Trump and Putin regarding the ongoing Ukraine conflict.
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Tariffs as Trade Rebalancing Tool
- President Trump's tariffs aim to rebalance trade to favor the U.S. and revive manufacturing jobs.
- The administration views tariffs as a tool to assert economic security over partner countries.
Early Tariff Impact and Risks
- Tariffs have begun to raise prices, but companies often absorb costs to avoid losing customers.
- Inflation and a weakening labor market risk stagflation, complicating Fed actions.
Tariffs Slowing Economic Growth
- Tariffs have slowed GDP growth and job creation compared to last year.
- Consumer spending has stalled, indicating economic strain despite no immediate recession.