Cabot Phillips

They accused the White House of economic, quote, blackmail, and Trump responded with a 50% tariff on top of those already in place. So starting at midnight last night, the Chinese began facing 104% tariffs on all goods coming to the U.S., It's not exactly breaking news that the U.S. imports a lot of stuff from China, and the expected price increases on those goods is clearly spooking investors.

They accused the White House of economic, quote, blackmail, and Trump responded with a 50% tariff on top of those already in place. So starting at midnight last night, the Chinese began facing 104% tariffs on all goods coming to the U.S., It's not exactly breaking news that the U.S. imports a lot of stuff from China, and the expected price increases on those goods is clearly spooking investors.

In the meantime, the president said he will cease all negotiations with the Chinese until they make an offer. According to Levitt, they can only hold out for so long.

In the meantime, the president said he will cease all negotiations with the Chinese until they make an offer. According to Levitt, they can only hold out for so long.

Right. So the Senate Finance Committee held a hearing yesterday where United States Trade Representative Jameson Greer appeared before lawmakers to defend the president's trade agenda. And it got heated. Here's Virginia Senator Mark Warner, for example, grilling Greer on tariffs against Australia.

Right. So the Senate Finance Committee held a hearing yesterday where United States Trade Representative Jameson Greer appeared before lawmakers to defend the president's trade agenda. And it got heated. Here's Virginia Senator Mark Warner, for example, grilling Greer on tariffs against Australia.

We heard similar combative rhetoric from Bernie Sanders and Elizabeth Warren, but Greer stood his ground, assuring lawmakers that the stock market was far less important than America's working class.

We heard similar combative rhetoric from Bernie Sanders and Elizabeth Warren, but Greer stood his ground, assuring lawmakers that the stock market was far less important than America's working class.

So Democrats pushing back on Trump's tariffs, but the White House making clear that they're standing firm.

So Democrats pushing back on Trump's tariffs, but the White House making clear that they're standing firm.

My pleasure.

My pleasure.

And female athletes across the country take a knee rather than face off against men allowed to play in women's sports.

And female athletes across the country take a knee rather than face off against men allowed to play in women's sports.

Daily Wire senior editor Cabot Phillips is here to break down what it means for the economy and the consumer at home. Hey, Cabot, so the market turmoil continuing to dominate the global conversation. We discussed this Monday, new developments since then.

Daily Wire senior editor Cabot Phillips is here to break down what it means for the economy and the consumer at home. Hey, Cabot, so the market turmoil continuing to dominate the global conversation. We discussed this Monday, new developments since then.

What's the latest? Yeah, the roller coaster continued Monday as uncertainty remained over how long those tariffs will stay in place and what they'll mean for the cost of goods. Stocks in Hong Kong saw their worst day in nearly 30 years, plunging more than 13%. It was a similar story for markets across Europe and the rest of Asia.

What's the latest? Yeah, the roller coaster continued Monday as uncertainty remained over how long those tariffs will stay in place and what they'll mean for the cost of goods. Stocks in Hong Kong saw their worst day in nearly 30 years, plunging more than 13%. It was a similar story for markets across Europe and the rest of Asia.

Here on Wall Street, we saw wild swings throughout the day, but ultimately the Dow, S&P and Nasdaq each ended up within 1% of where they began when markets opened. So a little less craziness. For his part, President Trump continued urging Americans to trust his plan. Here he is speaking at the White House Monday afternoon.

Here on Wall Street, we saw wild swings throughout the day, but ultimately the Dow, S&P and Nasdaq each ended up within 1% of where they began when markets opened. So a little less craziness. For his part, President Trump continued urging Americans to trust his plan. Here he is speaking at the White House Monday afternoon.