Cabot Phillips

Yeah, on Wednesday, a slew of new tariffs will go into effect on everything from auto imports to appliances, agricultural products. The list goes on. Trump is calling it, quote, Liberation Day. Writing on Truth Social, quote, For decades, we've been ripped off and abused by every nation in the world, both friend and foe.

Yeah, on Wednesday, a slew of new tariffs will go into effect on everything from auto imports to appliances, agricultural products. The list goes on. Trump is calling it, quote, Liberation Day. Writing on Truth Social, quote, For decades, we've been ripped off and abused by every nation in the world, both friend and foe.

Now, we are still waiting on the full list of products that'll be impacted, but we know Canada and Mexico will be among the hardest hit. They're facing 25% tariffs on all imports. From there will come those worldwide reciprocal tariffs. Those will match existing rates on countries we trade with. The White House says if a trading partner wants a lower tariff,

Now, we are still waiting on the full list of products that'll be impacted, but we know Canada and Mexico will be among the hardest hit. They're facing 25% tariffs on all imports. From there will come those worldwide reciprocal tariffs. Those will match existing rates on countries we trade with. The White House says if a trading partner wants a lower tariff,

All they have to do is reduce the rates imposed on our exports. The president will also slap an additional 25% rate on oil and gas from Venezuela in response to the, quote, criminals who he says they've sent here to the U.S. illegally. That tariff, it's worth noting, will apply as well to those countries who continue buying oil and gas from the Venezuelans.

All they have to do is reduce the rates imposed on our exports. The president will also slap an additional 25% rate on oil and gas from Venezuela in response to the, quote, criminals who he says they've sent here to the U.S. illegally. That tariff, it's worth noting, will apply as well to those countries who continue buying oil and gas from the Venezuelans.

Exactly. And the White House has been adamant from the start that they view tariffs not just as an economic tool, though they do say they're confident they'll help secure more favorable trade deals. They also view them as a means of combating illegal immigration, and they think they will incentivize military cooperation abroad and, importantly, spur domestic manufacturing at home.

Exactly. And the White House has been adamant from the start that they view tariffs not just as an economic tool, though they do say they're confident they'll help secure more favorable trade deals. They also view them as a means of combating illegal immigration, and they think they will incentivize military cooperation abroad and, importantly, spur domestic manufacturing at home.

Trump points to the trillions of dollars worth of investments foreign companies have made since he took office as proof the tariffs will push companies to onshore and bring their supply chains to America. And now he's going even further to encourage folks to buy American-made goods, specifically cars.

Trump points to the trillions of dollars worth of investments foreign companies have made since he took office as proof the tariffs will push companies to onshore and bring their supply chains to America. And now he's going even further to encourage folks to buy American-made goods, specifically cars.

On Friday, he proposed a revolutionary tax deduction that would allow Americans to write off interest payments on auto loans for cars made in America. Here he is detailing that plan from the White House.

On Friday, he proposed a revolutionary tax deduction that would allow Americans to write off interest payments on auto loans for cars made in America. Here he is detailing that plan from the White House.

And House Speaker Mike Johnson is reportedly drafting legislation that would codify that proposal. If passed, it could have a major impact on consumer habits in the auto industry. It could really impact the car buying landscape, for sure. Kevin, thanks so much for reporting. Anytime.

And House Speaker Mike Johnson is reportedly drafting legislation that would codify that proposal. If passed, it could have a major impact on consumer habits in the auto industry. It could really impact the car buying landscape, for sure. Kevin, thanks so much for reporting. Anytime.

Well, we just saw one of the largest cuts to the federal workforce since Donald Trump took office. This time it was the Department of Health and Human Services on the chopping block. Secretary Kennedy announced Thursday morning that they'd be cutting 10,000 jobs from across the department. When all is said and done, that'll be 20% of the entire HHS workforce.

Well, we just saw one of the largest cuts to the federal workforce since Donald Trump took office. This time it was the Department of Health and Human Services on the chopping block. Secretary Kennedy announced Thursday morning that they'd be cutting 10,000 jobs from across the department. When all is said and done, that'll be 20% of the entire HHS workforce.

Among others, the FDA will let go 3,500 employees, though Kennedy did stress that the cuts would not impact inspectors looking at drugs, medical devices, and food. The NIH will lose 1,200 workers, the CMS 300, and the CDC 2,400. The list goes on. The overhaul will also eliminate 13 of the department's 28 existing divisions and create a new administration for a healthy America.

Among others, the FDA will let go 3,500 employees, though Kennedy did stress that the cuts would not impact inspectors looking at drugs, medical devices, and food. The NIH will lose 1,200 workers, the CMS 300, and the CDC 2,400. The list goes on. The overhaul will also eliminate 13 of the department's 28 existing divisions and create a new administration for a healthy America.

According to Kennedy, the cuts will save taxpayer money and force health agencies to become more efficient.

According to Kennedy, the cuts will save taxpayer money and force health agencies to become more efficient.