Trump caves on tariffs: One economic indicator made even Trump realize he'd gone too far
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What were the nationwide protests against Trump's policies about?
Following this weekend's big protests, more than 1,400 protests in all 50 states, some of them in big cities like Chicago and New York and Washington, D.C., each of those topping 100,000 people. at simultaneous protests. It was crazy. After that big, big show of resistance to Donald Trump's presidency and what he's doing to the country, tonight, interesting news out of Washington, interesting news out of Congress. Tonight, Republicans in the House had expected to pass their budget blueprint for the whole government, for all the spending in the government. Republicans, of course, control the House. They only need a majority to pass it, so they can pass it just on their own party's say-so. But just within the last hour or so, they have had to pull that tonight because Republicans in the House apparently don't have support to get it done. So they have canceled their budget vote tonight, expecting that it would have failed had they put it up.
And again, they can pass it only with their own members because they have a majority in the House. They've canceled that vote tonight. They may try again in the morning. We shall see. Meanwhile, in the wake of those demonstrations this weekend, we've also got some new polling in from Quinnipiac University, which essentially validates the criticism of Trump that we saw on display in such large numbers this weekend. The big protests this weekend were on Saturday. This latest Quinnipiac poll was in the field on Thursday, Friday, Saturday and Sunday. Actually, Thursday, Friday, Saturday, Sunday, Monday. So it overlapped in time with these demonstrations. But this poll is a nationwide poll of how the American public is feeling about Trump and how he's doing as president. From the results of this poll, you'd almost think that they just polled the demonstrators, because what people were saying in the streets and at state capitals and on the
is pretty much in keeping with what the public at large was telling pollsters who were in the field at the same time. here's what i mean quote do you approve or disapprove of the way donald trump is handling his job as president disapprove by a margin of twelve points do you approve or disapprove of the way donald trump is handling the federal workforce disapprove by a margin of thirteen points do you approve or disapprove of the way donald trump is handling foreign policy disapprove by a margin of fourteen points do you approve or disapprove of the way donald trump is handling the economy disapprove by a margin of 15 points. Do you approve or disapprove of the way Trump is handling trade? Disapprove by a margin of 16 points. All right, well, you know, how about this one?
How about his signature issue, a thing that he actually did run on when he campaigned for president, a thing he really most wants to be associated with, the policy that he most wants you to identify with him and his name. Do you think, American public, do you think it is a good thing his signature issue. Here's the way the question was phrased.
22%. The proportion of Americans who say Trump's tariffs will hurt us is 72%. So by a 50-point margin, Americans believe that Donald Trump is deliberately hurting us. with his big signature policy idea of these genius tariffs. By a 50-point margin, Americans say what he's doing is hurtful to us deliberately. Which brings us to what I mentioned at the top, our spelunking expedition together this evening, our exploration of caves. The incident of Donald Trump caving today that's getting the most attention, understandably so, is his panicked cave, his panicked U-turn on tariffs. For all his famed and supposed attention to the stock market— I got to tell you, Donald Trump has been very happy to preside over huge off-the-cliff plunges in the stock market repeatedly. In fact, in history, if you look at the Dow Jones, if you look at the 10 largest single-day point drops in the Dow in history, of the 10 worst point drops ever on the Dow, Donald Trump was the president for nine of those 10 days.
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Chapters
8 chapters
1
What were the nationwide protests against Trump's policies about?
0:17–8:13
2
How did Trump's tariff policy impact the stock and bond markets?
8:13–15:35
3
Why did Trump cave on tariffs and what role did the bond market play?
15:35–20:34
4
What mistakes did the Trump administration make regarding UN food program funding?
20:34–22:54
5
How is Trump's administration impacting Social Security services?
22:54–29:42
6
What was the public and political response to the Social Security cuts?
29:42–38:09
7
What ongoing protests are happening across universities against federal cuts?
38:09–41:16
8
Why are educators and researchers concerned about federal funding cuts?
41:16–42:48
Speakers
8 identifiedMore from The Rachel Maddow Show
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