Lemon LIVE at 5 | Donald Trump's Liberation Day Might Liberate You From Your $$$ - April 2nd, 2025
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What immediate market reaction followed Trump’s 'Liberation Day' tariff announcement?
Okay, everybody. Welcome to Lemon Live at 5. I'm so glad that you're here. There's no other way to put it. Look, I'm going to be very transparent with you guys. We are flying by the seat of our pants because we're screwed. We are screwed. We are screwed. Donald Trump just imposed tariffs. And... The Dow futures are going off a cliff. We thought it was like the end of the chart. Can we just put it up? Let's see if you want to look at the futures. And so let's put up the futures here, the full screen. Okay, so do you see that at the, this is a NASDAQ 100 futures down 2.3%. Okay, so you see the blue thing and then it goes down. We thought, okay, that is the end of the chart. So we thought it was that high point, but no, no.
That is where we are right now. Look at the gap between the end of the chart and that drop-off. That's where we are, y'all. And it looks like we're kind of underwater, under the line. I don't know. Yeah, holy crap is right. So we've been here trying to figure it out. I called Anthony Scaramucci. Let's see. So y'all, I'm just telling you, We are screwed. And I want someone to be able to explain this to us. But it's a little bit tough, as Donald Trump would say, because they just started doing this at the end of the day. And we thought he was going to. Here's what he did, though. Let me tell you what he did. He waited till the end of the day to do this because he didn't want you to see the market tanking. He's hoping overnight.
that the market will recover overnight. The business bros, the business channels are freaking out. You said the NASDAQ futures is down what, Peter, as we were checking it? 3.8%? I believe so. 3.8%. So Donald Trump announced, this was just moments ago, that he's going to impose 10% tariffs on imports from all countries around the world and will slap an additional individual tariff on approximately 60 countries his administration believes have most unfair trade relationships with the United States. With the United States. And so... What he's going to do for cars, he had a bunch of guys from the auto industry there, again, once again, using people as props, throwing hats at them. Someone said MSNBC is not covering it or whatever.
We're screwed. Did you guys see that? Did you guys see what happened? I just want to put up the charts so you guys can see. That includes 34% tariff on China and a 20% tariff on the European Union. So let's put up that first chart. So this is what he says. Now, again, there are people who are saying that these numbers, some of them are fake. They don't believe that they're real. OK. So he says, well, you know, China gives a 67 percent tariff on their goods. We're just going to do half of that and we're going to do 34 percent. Yeah, I can't believe whoever in the chat said I can't believe the auto industry showed up. They did. The European Union, 39% according to him, so about half of that is 20%. That's what we're going to do.
America. 90% for Vietnam, 64% for China. Like, this is crazy stuff. It's called Liberation Day. Someone in the chat said I call it Recession Day. Look, I am holding out hope that maybe they know something that we don't know. He knows something. Maybe he's right, but I... Again, let's put that Dow futures number back up, please, so that people can see where we are. Because this is where the market is. He didn't want you to see that because, you know, when everybody's working and the market is open, then everybody's covering it. And so now this is futures until the markets open back up tomorrow and the European markets and the Asian markets start opening again. But this is what futures. So tomorrow when the market opens, he's going to hope it's recovered a little bit.
But this is fucked up scary. I really don't know what to tell you guys at this point. So unsurprisingly, Wall Street did not respond well. Markets plunged in after-hours trading, as Trump held a poster up listing various tariff levels for U.S. trading partners. The ETF, the Exchange Trade Fund, that tracks the broad-based S&P 500, dropped more than 2.3%.
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Chapters
4 chapters
1
What immediate market reaction followed Trump’s 'Liberation Day' tariff announcement?
0:14–9:34
2
Which specific tariffs and country rates did Trump announce and where did those numbers come from?
9:34–17:38
3
How did the host and team interpret the timing and optics of the after-hours announcement?
17:38–44:41
4
What are the economic risks of broad reciprocal tariffs according to Anthony Scaramucci?
44:41–1:01:59
Speakers
5 identifiedMore from The Don Lemon Show
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