That was fast! Flailing Trump 'folds' immediately in failed tariff clash (Economist Krugman x MSNBC)

ENDURING ACCOMPLISHMENTS THAT WE ASSOCIATE WITH OTHER ASSOCIATE WITH OTHER PRESIDENTIAL ADMINISTRATIONS IN PRESIDENTIAL ADMINISTRATIONS IN THEIR GOALS AND WHAT THEY'RE THEIR GOALS AND WHAT THEY'RE DOING. BUT OUR TOP STORY RIGHT DOING. BUT OUR TOP STORY RIGHT NOW IS PRESIDENT TRUMP'S THREATS NOW IS PRESIDENT TRUMP'S THREATS OF THIS TRADE WAR, WHICH HE THEN OF THIS TRADE WAR, WHICH HE THEN QUICKLY BACKED OFF OF BECAUSE IT QUICKLY BACKED OFF OF BECAUSE IT HAS REAL WORLD CONSEQUENCES FOR HAS REAL WORLD CONSEQUENCES FOR YOU, FOR PEOPLE IN THIS.

YOU, FOR PEOPLE IN THIS. >> COUNTRY. >> COUNTRY.

>> FOR PEOPLE IN OTHER >> FOR PEOPLE IN OTHER COUNTRIES, EVEN THOUGH IT IS COUNTRIES, EVEN THOUGH IT IS ALSO, AS WE BEGIN THE WEEK, A ALSO, AS WE BEGIN THE WEEK, A KIND OF SPUTTERING, OPENING KIND OF SPUTTERING, OPENING FAILURE OF HIS EFFORTS, THE SAME FAILURE OF HIS EFFORTS, THE SAME AMERICANS WHO WERE VERY AMERICANS WHO WERE VERY CONCERNED ABOUT PRICES AND CONCERNED ABOUT PRICES AND INFLATION BACK IN NOVEMBER. THAT INFLATION BACK IN NOVEMBER. THAT WAS A KEY ISSUE, WE WERE TOLD BY WAS A KEY ISSUE, WE WERE TOLD BY VOTERS COULD BE IMPACTED BY WHAT VOTERS COULD BE IMPACTED BY WHAT WE CAN ONLY SEE SO FAR IS DONALD WE CAN ONLY SEE SO FAR IS DONALD TRUMP'S SORT OF SHAKY OR TRUMP'S SORT OF SHAKY OR INCONSISTENT TARIFF THREATS.

AND INCONSISTENT TARIFF THREATS. AND THIS IS THE VERY START OF HIS THIS IS THE VERY START OF HIS TENURE. THIS IS HIS JANUARY TENURE.

THIS IS HIS JANUARY FEBRUARY PRIORITY BASED ON A FEBRUARY PRIORITY BASED ON A NOVEMBER VICTORY. HE'S IN OFFICE NOVEMBER VICTORY. HE'S IN OFFICE LESS THAN A MONTH.

AND NOW WE LESS THAN A MONTH. AND NOW WE CAN REPORT, AS YOU MAY HAVE CAN REPORT, AS YOU MAY HAVE HEARD, BUT WE'RE GOING TO GET HEARD, BUT WE'RE GOING TO GET INTO THE DETAILS. TRUMP IS INTO THE DETAILS.

TRUMP IS BLINKING TODAY AFTER THREATENING BLINKING TODAY AFTER THREATENING WHAT COULD HAVE BEEN THIS TRADE WHAT COULD HAVE BEEN THIS TRADE WAR OVER THE WEEKEND. NOW, THERE WAR OVER THE WEEKEND. NOW, THERE ARE MANY COUNTRIES THAT HAVE ARE MANY COUNTRIES THAT HAVE TRIED VARIOUS TARIFF EFFORTS FOR TRIED VARIOUS TARIFF EFFORTS FOR MANY DECADES, SO WE ACTUALLY MANY DECADES, SO WE ACTUALLY KNOW A BIT ABOUT WHAT YOU SEE ON KNOW A BIT ABOUT WHAT YOU SEE ON YOUR SCREEN, HOW.

SUPPLY CHAINS YOUR SCREEN, HOW. SUPPLY CHAINS AND PRODUCTS AND GROCERY PRICES AND PRODUCTS AND GROCERY PRICES AND SHIPPING, HOW ALL OF THIS IS AND SHIPPING, HOW ALL OF THIS IS AFFECTED. MANY COUNTRIES HAVE AFFECTED.

MANY COUNTRIES HAVE FOUND THAT, AGAIN, I'M GOING TO FOUND THAT, AGAIN, I'M GOING TO GENERALIZE, BUT A SUDDEN SORT OF GENERALIZE, BUT A SUDDEN SORT OF ONE WAY EFFORT TO ENGINEER ONE WAY EFFORT TO ENGINEER TARIFFS DON'T TEND TO BENEFIT TARIFFS DON'T TEND TO BENEFIT THE COUNTRY STARTING THAT TRADE THE COUNTRY STARTING THAT TRADE WAR. AND AS FOR THE INFLATION WAR. AND AS FOR THE INFLATION THAT I MENTIONED, ECONOMISTS AND THAT I MENTIONED, ECONOMISTS AND MANY IMPACTED BUSINESSES MANY IMPACTED BUSINESSES ESTIMATE THAT INEFFECTIVE ESTIMATE THAT INEFFECTIVE TARIFFS, SORT OF JUST THROWING TARIFFS, SORT OF JUST THROWING THEM OUT THERE WILL INCREASE THEM OUT THERE WILL INCREASE INFLATION AND THEY BECOME INFLATION AND THEY BECOME ESSENTIALLY A NEW TAX.

SO TODAY ESSENTIALLY A NEW TAX. SO TODAY THAT'S THE CONTEXT FOR DONALD THAT'S THE CONTEXT FOR DONALD TRUMP NOW BACKING OFF WHAT WAS TRUMP NOW BACKING OFF WHAT WAS THREATENED AS 25% TARIFFS, WHICH THREATENED AS 25% TARIFFS, WHICH IS A BIG STEEP HIKE ON THE IS A BIG STEEP HIKE ON THE NEIGHBORING COUNTRIES OF CANADA NEIGHBORING COUNTRIES OF CANADA AND MEXICO. HE IS BASICALLY AND MEXICO.

HE IS BASICALLY BLINKING. THIS STORY MATTERS. BLINKING.

THIS STORY MATTERS. EVEN IF HE BACKS DOWN. HE'S ALSO EVEN IF HE BACKS DOWN.

HE'S ALSO CLAIMING THAT HE GOT SOME MINOR CLAIMING THAT HE GOT SOME MINOR ADJUSTMENTS, BUT NOT REALLY AT ADJUSTMENTS, BUT NOT REALLY AT THE ECONOMIC TARIFF LEVEL. THE ECONOMIC TARIFF LEVEL. THAT'S WHAT HE SAYS HE'S GETTING THAT'S WHAT HE SAYS HE'S GETTING IN RETURN FOR DELAYING THE THING IN RETURN FOR DELAYING THE THING HE THREATENED THAT HE'S NOT HE THREATENED THAT HE'S NOT DOING.

DONALD TRUMP. HAS PULLED DOING. DONALD TRUMP.

HAS PULLED HIS OWN TARIFFS AND HIS OWN HIS OWN TARIFFS AND HIS OWN TARIFF SCHEDULE. HE HAD VOWED TARIFF SCHEDULE. HE HAD VOWED THESE TO BEGIN AS SOON AS THESE TO BEGIN AS SOON AS MIDNIGHT.

NOW HE'S DELAYING A PROPOSAL SEEM TO HAVE RUN INTO A LOT OF HEADWINDS. WAS THAT A LOT OF HEADWINDS. WAS THAT OBVIOUS?

WAS THAT GOING TO BE OBVIOUS? WAS THAT GOING TO BE UNDERSTANDABLE? AND WHERE DO WE UNDERSTANDABLE?

AND WHERE DO WE GO FROM HERE? GO FROM HERE? >> WELL, IT WAS.

>> WELL, IT WAS. >> OBVIOUSLY GOING. >> OBVIOUSLY GOING.

>> TO. GO RUN INTO A LOT. >> TO.

GO RUN INTO A LOT. >> OF PROBLEMS. I MEAN, FIRST >> OF PROBLEMS.

I MEAN, FIRST THING TO SAY. THING TO SAY. >> IS, I MEAN, I'M NOT A LAWYER.

>> IS, I MEAN, I'M NOT A LAWYER. BUT THE TARIFFS LOOK. BUT THE TARIFFS LOOK.

>> ILLEGAL TO ME. >> ILLEGAL TO ME. >> I MEAN, THEY.

THEY TRUMP. >> I MEAN, THEY. THEY TRUMP.

>> INVOKED A EMERGENCY ECONOMIC >> INVOKED A EMERGENCY ECONOMIC POWERS. AND YOU KNOW, WE DON'T POWERS. AND YOU KNOW, WE DON'T HAVE AN ECONOMIC EMERGENCY.

WE HAVE AN ECONOMIC EMERGENCY. WE HAVE LOW. UNEMPLOYMENT AND LOW HAVE LOW.

UNEMPLOYMENT AND LOW INFLATION. INFLATION. >> WHAT WHAT'S.

>> WHAT WHAT'S. >> WHAT'S THIS ABOUT. AND IT'S.

>> WHAT'S THIS ABOUT. AND IT'S. >> ALSO SUPPOSED.

>> ALSO SUPPOSED. >> TO BE USED FOR ECONOMIC ENDS. >> TO BE USED FOR ECONOMIC ENDS.

>> AND THEY SORT OF SETTLED ON >> AND THEY SORT OF SETTLED ON DRUGS AS. DRUGS AS. >> THE JUSTIFICATION.

>> THE JUSTIFICATION. >> WHICH CLEARLY WAS WAS BOGUS. >> WHICH CLEARLY WAS WAS BOGUS.

>> RIGHT. AND THE DRUGS FENTANYL >> RIGHT. AND THE DRUGS FENTANYL HERE IS THE WEAPONS OF MASS HERE IS THE WEAPONS OF MASS DESTRUCTION.

DESTRUCTION. >> OF THE TRADE WAR. AND IT'S A >> OF THE TRADE WAR.

AND IT'S A IT'S A FAKE ARGUMENT. IT'S A FAKE ARGUMENT. >> AND THEN.

>> AND THEN. >> WHY WHY. >> WHY WHY.

>> DO IT? >> DO IT? >> TRUMP HAS.

ALWAYS THIS IS A >> TRUMP HAS. ALWAYS THIS IS A PERSONAL TRUMP FIXATION. THIS IS PERSONAL TRUMP FIXATION.

THIS IS THIS. THIS. >> IS ONE OF THESE.

>> IS ONE OF THESE. >> THINGS. >> THINGS.

>> WHERE THERE ISN'T. >> WHERE THERE ISN'T. >> REALLY A STRONG INTEREST >> REALLY A STRONG INTEREST GROUP.

THERE ISN'T REALLY. A GROUP. THERE ISN'T REALLY.

A MEANINGFUL ECONOMIC ARGUMENT MEANINGFUL ECONOMIC ARGUMENT THAT THE ARGUMENTS ARE CRAZY. THAT THE ARGUMENTS ARE CRAZY. THIS IS JUST SOMETHING THAT.

THIS IS JUST SOMETHING THAT. >> TRUMP. >> TRUMP.

>> YOU KNOW, YOU CAN FIND TAPES. >> YOU KNOW, YOU CAN FIND TAPES. >> OF TRUMP.

>> OF TRUMP. >> GOING BACK TO 1988 SAYING WE >> GOING BACK TO 1988 SAYING WE SHOULD HAVE 25% TARIFFS. SOMEHOW SHOULD HAVE 25% TARIFFS.

SOMEHOW OR OTHER, HE MADE UP HIS MIND OR OTHER, HE MADE UP HIS MIND THAT HE WAS SMARTER THAN ANYBODY THAT HE WAS SMARTER THAN ANYBODY ELSE ON INTERNATIONAL. ELSE ON INTERNATIONAL. >> TRADE POLICY.

>> TRADE POLICY. >> AND THIS WAS HIS MOMENT TO DO >> AND THIS WAS HIS MOMENT TO DO IT. AND HE FOLDED ALMOST IT.

AND HE FOLDED ALMOST INSTANTLY WHEN, WHEN CANADA AND INSTANTLY WHEN, WHEN CANADA AND MEXICO REVEALED THAT THEY ARE MEXICO REVEALED THAT THEY ARE ACTUALLY INDEPENDENT COUNTRIES ACTUALLY INDEPENDENT COUNTRIES WITH WITH THE WILL OF THEIR OWN. WITH WITH THE WILL OF THEIR OWN. >> YEAH.

>> YEAH. >> YOU SAY HE FOLDED INSTANTLY >> YOU SAY HE FOLDED INSTANTLY BECAUSE OF THE REACTION TO THE BECAUSE OF THE REACTION TO THE TARIFFS. WHAT IS THAT REACTION?

TARIFFS. WHAT IS THAT REACTION? WHY WERE THEY SO CONFIDENT, YOU WHY WERE THEY SO CONFIDENT, YOU KNOW, IN A DIFFERENT WORLD IN KNOW, IN A DIFFERENT WORLD IN THE TRUMP COSPLAY FANTASY LAND THE TRUMP COSPLAY FANTASY LAND HE WOULD ANNOUNCE THESE THINGS.

HE WOULD ANNOUNCE THESE THINGS. YOU MAKE A VERY FAIR POINT THAT YOU MAKE A VERY FAIR POINT THAT THERE'S A LOT OF QUESTIONS ABOUT THERE'S A LOT OF QUESTIONS ABOUT THE UNDERLYING AUTHORITY. BUT HE THE UNDERLYING AUTHORITY.

BUT HE WOULD ANNOUNCE SOMETHING AND WOULD ANNOUNCE SOMETHING AND THEN FOLKS WOULD RUN AWAY AND THEN FOLKS WOULD RUN AWAY AND COWER. THAT'S THE STORY HE SOLD COWER. THAT'S THE STORY HE SOLD TO HIS VOTERS FOR SURE.

EXPLAIN TO HIS VOTERS FOR SURE. EXPLAIN TO US HOW THE ACTUAL MECHANISM TO US HOW THE ACTUAL MECHANISM OF THE THREATENED TARIFF, AND OF THE THREATENED TARIFF, AND WHAT THEY COULD DO IN RETURN, WHAT THEY COULD DO IN RETURN, LEFT THEM IN SUCH A STRONG LEFT THEM IN SUCH A STRONG POSITION AGAINST PRESIDENT POSITION AGAINST PRESIDENT TRUMP. TRUMP.

>> WELL. >> WELL. >> THE MAIN THING.

>> THE MAIN THING. >> TO UNDERSTAND IS THAT, YOU >> TO UNDERSTAND IS THAT, YOU KNOW, THERE IS NO SUCH THING AS KNOW, THERE IS NO SUCH THING AS A US MANUFACTURING SECTOR. WE'VE A US MANUFACTURING SECTOR.

WE'VE HAD NAFTA, WE'VE HAD A FREE HAD NAFTA, WE'VE HAD A FREE TRADE AREA FOR ALMOST 30 YEARS TRADE AREA FOR ALMOST 30 YEARS NOW, AND. NOW, AND. >> WE HAVE.

>> WE HAVE. >> DEEPLY INTEGRATED >> DEEPLY INTEGRATED MANUFACTURING. IF YOU ASK, YOU MANUFACTURING.

IF YOU ASK, YOU KNOW, WHERE WAS A CAR IF YOU BUY KNOW, WHERE WAS A CAR IF YOU BUY AN AMERICAN CAR, WHERE WAS THAT AN AMERICAN CAR, WHERE WAS THAT CAR ACTUALLY MADE? AND THE CAR ACTUALLY MADE? AND THE ANSWER.

ANSWER. >> IS, WELL, THAT'S COMPLICATED. >> IS, WELL, THAT'S COMPLICATED.

>> PIECES OF IT WERE MADE IN ALL >> PIECES OF IT WERE MADE IN ALL THREE COUNTRIES. COMPONENTS MAY THREE COUNTRIES. COMPONENTS MAY HAVE CROSSED THE BORDER 7 OR 8 HAVE CROSSED THE BORDER 7 OR 8 TIMES, WHICH MEANS THAT EVEN TIMES, WHICH MEANS THAT EVEN JUST THE US IMPOSING TARIFFS IS JUST THE US IMPOSING TARIFFS IS IMPOSING A LOT OF COSTS ON OUR IMPOSING A LOT OF COSTS ON OUR OWN INDUSTRY.

AND IF CANADA AND OWN INDUSTRY. AND IF CANADA AND MEXICO RESPOND IN KIND, THEN MEXICO RESPOND IN KIND, THEN THEY'RE FURTHER RAISING THE THEY'RE FURTHER RAISING THE COSTS. IT HURTS THEM.

COSTS. IT HURTS THEM. >> BUT IT ALSO HURTS US.

>> BUT IT ALSO HURTS US. >> WE'RE KIND OF IN A SITUATION >> WE'RE KIND OF IN A SITUATION WHERE WE'RE ALL IN A POSITION TO WHERE WE'RE ALL IN A POSITION TO INFLICT A LOT OF DAMAGE BECAUSE INFLICT A LOT OF DAMAGE BECAUSE THIS IS, YOU KNOW, NOT OUR THAT THIS IS, YOU KNOW, NOT OUR THAT WE'VE BECOME MUTUALLY DEPENDENT WE'VE BECOME MUTUALLY DEPENDENT AND. AND.

>> UNLIKE. >> UNLIKE. >> YOU KNOW, US POLITICIANS WHO >> YOU KNOW, US POLITICIANS WHO ARE RUN AND HIDE UNDER THE TABLE ARE RUN AND HIDE UNDER THE TABLE WHEN TRUMP SAYS A NASTY WORD, WHEN TRUMP SAYS A NASTY WORD, MEXICANS AND MEXICAN AND MEXICANS AND MEXICAN AND CANADIAN POLITICIANS HAVE TO CANADIAN POLITICIANS HAVE TO ANSWER TO THEIR VOTERS.

AND, YOU ANSWER TO THEIR VOTERS. AND, YOU KNOW, THEY'RE THEY'RE THEY'RE KNOW, THEY'RE THEY'RE THEY'RE REAL COUNTRIES WITH REAL PRIDE REAL COUNTRIES WITH REAL PRIDE AND REAL, REAL WANT TO STAND UP. AND REAL, REAL WANT TO STAND UP.

YOU KNOW, THEY SO. AND WHAT WAS YOU KNOW, THEY SO. AND WHAT WAS INTERESTING.

INTERESTING. >> WAS THIS. >> WAS THIS.

>> WAS THE CLASSIC A. BULLY RUNS >> WAS THE CLASSIC A. BULLY RUNS AWAY AT THE FIRST SIGN OF A OF A AWAY AT THE FIRST SIGN OF A OF A REAL CONFRONTATION.

REAL CONFRONTATION. >> ALL ALL REALLY FAIR. YOU LOOK >> ALL ALL REALLY FAIR.

YOU LOOK AT THE ELECTION THAT I AT THE ELECTION THAT I MENTIONED, AND I THINK YOU AND I MENTIONED, AND I THINK YOU AND I AND OTHERS COULD WE COULD DEBATE AND OTHERS COULD WE COULD DEBATE FOR HOURS WHICH THING REALLY FOR HOURS WHICH THING REALLY DROVE WHAT IN THE ELECTION. AND DROVE WHAT IN THE ELECTION. AND I THINK THERE'S A TENDENCY I I THINK THERE'S A TENDENCY I WON'T SPEAK FOR YOU.

YOU'RE A WON'T SPEAK FOR YOU. YOU'RE A NOBEL WINNING ECONOMIST, SO YOU NOBEL WINNING ECONOMIST, SO YOU OBVIOUSLY USE REAL METRICS, OBVIOUSLY USE REAL METRICS, PROFESSOR. BUT OVER HERE IN PROFESSOR.

BUT OVER HERE IN POLITICS IN NEW ZEALAND, YOU POLITICS IN NEW ZEALAND, YOU KNOW, PEOPLE SEIZE ON ONE THING. KNOW, PEOPLE SEIZE ON ONE THING. THEY TEND TO BE OVER EXPLAINING THEY TEND TO BE OVER EXPLAINING OR OVER DETERMINING.

SO WITH ALL OR OVER DETERMINING. SO WITH ALL THAT CAVEAT, SAID DONALD TRUMP THAT CAVEAT, SAID DONALD TRUMP AND PEOPLE AROUND HIM CLAIM THAT AND PEOPLE AROUND HIM CLAIM THAT BIDEN DIDN'T HANDLE THE ECONOMY BIDEN DIDN'T HANDLE THE ECONOMY WELL ENOUGH AND THAT THEY WELL ENOUGH AND THAT THEY BENEFITED FROM CONCERN ABOUT BENEFITED FROM CONCERN ABOUT PRICES AND INFLATION. I WANT TO PRICES AND INFLATION.

I WANT TO PLAY A LITTLE BIT OF THAT PLAY A LITTLE BIT OF THAT BECAUSE, AGAIN, FROM WHAT YOU'RE BECAUSE, AGAIN, FROM WHAT YOU'RE TEACHING US TONIGHT, IT SOUNDS TEACHING US TONIGHT, IT SOUNDS LIKE THE EXACT OPPOSITE THING LIKE THE EXACT OPPOSITE THING YOU WOULD DO IF YOU WANTED TO YOU WOULD DO IF YOU WANTED TO HELP PEOPLE WITH GROCERY PRICES. HELP PEOPLE WITH GROCERY PRICES. TAKE A LOOK AT DONALD TRUMP.

TAKE A LOOK AT DONALD TRUMP. >> AND I WENT ON GROCERIES. IT'S >> AND I WENT ON GROCERIES.

IT'S A VERY SIMPLE WORD. GROCERIES. A VERY SIMPLE WORD.

GROCERIES. LIKE ALMOST. YOU KNOW WHO USES LIKE ALMOST.

YOU KNOW WHO USES THE WORD? I STARTED USING THE THE WORD? I STARTED USING THE WORD, THE GROCERIES.

A VOTE FOR WORD, THE GROCERIES. A VOTE FOR TRUMP MEANS YOUR GROCERIES WILL TRUMP MEANS YOUR GROCERIES WILL BE CHEAPER. IT'LL ALSO BRING BE CHEAPER.

IT'LL ALSO BRING YOUR GROCERY BILL WAY DOWN. I YOUR GROCERY BILL WAY DOWN. I HAVE MORE COMPLAINTS ON HAVE MORE COMPLAINTS ON GROCERIES.

GROCERIES. >> GROCERIES, THAT WORD >> GROCERIES, THAT WORD GROCERIES. PROFESSOR.

WHAT DOES GROCERIES. PROFESSOR. WHAT DOES HIS PLAN, WHICH HE CLAIMS WOULD HIS PLAN, WHICH HE CLAIMS WOULD STILL KICK IN IN A MONTH, STILL KICK IN IN A MONTH, POTENTIALLY.

WOULD IT RAISE POTENTIALLY. WOULD IT RAISE LEAVE THE SAME OR LOWER GROCERY LEAVE THE SAME OR LOWER GROCERY PRICES HERE IN AMERICA? PRICES HERE IN AMERICA?

>> YOU KNOW, IF YOU TAKE A LOOK >> YOU KNOW, IF YOU TAKE A LOOK AT THE LABELS. AT THE LABELS. >> ON THE FRUIT AND VEGETABLES >> ON THE FRUIT AND VEGETABLES IN YOUR SUPERMARKET, AN.

IN YOUR SUPERMARKET, AN. >> AWFUL LOT. >> AWFUL LOT.

>> OF THEM ARE COMING FROM FROM >> OF THEM ARE COMING FROM FROM MEXICO, SOME ARE COMING FROM MEXICO, SOME ARE COMING FROM CANADA. YOU PUT A TAX ON WHAT IS CANADA. YOU PUT A TAX ON WHAT IS BASICALLY A SALES TAX ON ON.

BASICALLY A SALES TAX ON ON. GROCERIES FROM OUR NEIGHBORING GROCERIES FROM OUR NEIGHBORING COUNTRIES. YOU THINK YOU'RE COUNTRIES.

YOU THINK YOU'RE GOING TO GET CHEAPER? I MEAN, GOING TO GET CHEAPER? I MEAN, THAT'S CRAZY.

AND THERE WAS THAT'S CRAZY. AND THERE WAS NEVER IT NEVER MADE ANY SENSE AT NEVER IT NEVER MADE ANY SENSE AT ALL. AND HE'S NEVER HAD ANY HINT ALL.

AND HE'S NEVER HAD ANY HINT OF A PLAN TO BRING GROCERY OF A PLAN TO BRING GROCERY PRICES DOWN. BASICALLY, HE SORT PRICES DOWN. BASICALLY, HE SORT OF ADMITTED THAT YOU CAN'T, THAT OF ADMITTED THAT YOU CAN'T, THAT THERE'S REALLY NO WAY TO DO THERE'S REALLY NO WAY TO DO THAT.

THAT. >> AND YEAH. >> AND YEAH.

>> I MEAN, WHY. >> I MEAN, WHY. >> WOULD.

>> WOULD. >> YOU, YOU. >> YOU, YOU.

>> KNOW. SO TO THE EXTENT THAT >> KNOW. SO TO THE EXTENT THAT AT.

AT. >> LEAST VOTERS. >> LEAST VOTERS.

>> WERE UNHAPPY ABOUT GROCERY >> WERE UNHAPPY ABOUT GROCERY PRICES AND WE CAN GO ON AND ON PRICES AND WE CAN GO ON AND ON ABOUT, YOU. ABOUT, YOU. >> KNOW.

>> KNOW. >> DIDN'T WAGE GROWTH AT LEAST >> DIDN'T WAGE GROWTH AT LEAST MATCH THAT? BUT NEVER MIND.

THE MATCH THAT? BUT NEVER MIND. THE POINT IS THAT THIS IS A PLAN TO POINT IS THAT THIS IS A PLAN TO DEFINITELY WORSEN THE ONE THING DEFINITELY WORSEN THE ONE THING THAT VOTERS MOST CONSISTENTLY THAT VOTERS MOST CONSISTENTLY COMPLAINED ABOUT.

COMPLAINED ABOUT. >> SO DO YOU EXPECT ANY ACTUAL >> SO DO YOU EXPECT ANY ACTUAL BINDING, SHORT, MEDIUM OR LONG BINDING, SHORT, MEDIUM OR LONG TERM TARIFFS TO BE INSTITUTED BY TERM TARIFFS TO BE INSTITUTED BY BY PRESIDENT TRUMP OR WHAT WE BY PRESIDENT TRUMP OR WHAT WE WITNESSING TODAY, THIS THIS WITNESSING TODAY, THIS THIS BLINKING IS SORT OF GOING TO BLINKING IS SORT OF GOING TO BECOME THE NORM FOR HIM. BECOME THE NORM FOR HIM.

>> I HAVE NO IDEA. >> I HAVE NO IDEA. >> I MEAN.

>> I MEAN. >> WE'RE NOW WE'RE TRYING TO >> WE'RE NOW WE'RE TRYING TO UNDERSTAND A, A PARTICULAR MAN'S UNDERSTAND A, A PARTICULAR MAN'S MIND AND NOT ONE OF THE MINDS. I MIND AND NOT ONE OF THE MINDS.

I PARTICULARLY WANT TO UNDERSTAND PARTICULARLY WANT TO UNDERSTAND THAT. WELL, BUT HE'S. ON THE ONE THAT.

WELL, BUT HE'S. ON THE ONE HAND, HE MAY HE'S GOING TO. HAND, HE MAY HE'S GOING TO.

>> BE GETTING A LOT. >> BE GETTING A LOT. >> OF TAUNTS.

>> OF TAUNTS. >> ABOUT HOW. >> ABOUT HOW.

>> YOU BACK DOWN. >> YOU BACK DOWN. >> AND THAT.

>> AND THAT. >> MIGHT MAKE HIM DECIDE TO GO >> MIGHT MAKE HIM DECIDE TO GO FOR IT A MONTH FROM NOW. OR HE FOR IT A MONTH FROM NOW.

OR HE MAY HAVE LEARNED HIS LESSON THAT MAY HAVE LEARNED HIS LESSON THAT HE CAN'T ACTUALLY BULLY OTHER HE CAN'T ACTUALLY BULLY OTHER COUNTRIES. COUNTRIES. >> THAT EASILY.

>> THAT EASILY. >> COULD GO EITHER WAY. >> COULD GO EITHER WAY.

>> WHAT'S I THINK. >> WHAT'S I THINK. >> IS IMPORTANT TO UNDERSTAND IS >> IS IMPORTANT TO UNDERSTAND IS THAT THIS.

THAT THIS. >> IS NOT A. >> IS NOT A.

>> CASE OF NO HARM, NO FOUL. THE >> CASE OF NO HARM, NO FOUL. THE MERE.

MERE. >> FACT THAT. >> FACT THAT.

>> WE CAME WITHIN AN INCH OF. >> WE CAME WITHIN AN INCH OF. >> HAVING A MASSIVE TRADE WAR, >> HAVING A MASSIVE TRADE WAR, WHICH WAS DEFINITELY ILLEGAL, WHICH WAS DEFINITELY ILLEGAL, YOU KNOW, WE HAVE A BINDING YOU KNOW, WE HAVE A BINDING AGREEMENT ON TRADE WITH CANADA AGREEMENT ON TRADE WITH CANADA AND MEXICO.

AND MEXICO. >> IT'S NOT SOMETHING. >> IT'S NOT SOMETHING.

>> WHERE THE PRESIDENT OF THE >> WHERE THE PRESIDENT OF THE UNITED STATES CAN. UNITED STATES CAN. >> SAY, WELL, I DON'T FEEL LIKE >> SAY, WELL, I DON'T FEEL LIKE HONORING.

HONORING. >> THAT AGREEMENT. OR IF HE >> THAT AGREEMENT.

OR IF HE DOES, HE'S BASICALLY SAYING THAT DOES, HE'S BASICALLY SAYING THAT THE UNITED STATES IS NOT. THE UNITED STATES IS NOT. >> A TRUSTWORTHY PARTNER.

>> A TRUSTWORTHY PARTNER. >> AN AGREEMENT WITH THE UNITED >> AN AGREEMENT WITH THE UNITED STATES IS NOT WORTH THE PAPER STATES IS NOT WORTH THE PAPER IT'S PRINTED ON. IT'S PRINTED ON.

>> SO AND THIS IS. >> SO AND THIS IS. >> GOING TO HAVE A LONG TERM >> GOING TO HAVE A LONG TERM EFFECT ON OUR CREDIBILITY.

EFFECT ON OUR CREDIBILITY. BUSINESSES ARE GOING TO PLAN FOR BUSINESSES ARE GOING TO PLAN FOR THE POSSIBILITY OF FUTURE THE POSSIBILITY OF FUTURE TARIFFS EVEN IF THEY DIDN'T TARIFFS EVEN IF THEY DIDN'T HAPPEN THIS MONTH. SO THAT'S HAPPEN THIS MONTH.

SO THAT'S GOING TO RAISE COSTS. THIS IS GOING TO RAISE COSTS. THIS IS ALL.

AND THEN, YOU KNOW, I HAVE ALL. AND THEN, YOU KNOW, I HAVE TO SAY. ALTHOUGH I'M REALLY GLAD TO SAY.

ALTHOUGH I'M REALLY GLAD THAT HE BACKED DOWN, THAT ITSELF THAT HE BACKED DOWN, THAT ITSELF DOESN'T HELP. DOESN'T HELP. >> OUR CREDIBILITY EITHER.

>> OUR CREDIBILITY EITHER. >> I MEAN, THE UNITED STATES IS >> I MEAN, THE UNITED STATES IS AN. IMMEASURABLY WEAKER POSITION AN.

IMMEASURABLY WEAKER POSITION ON THE. ON THE. >> WORLD, ON.

>> WORLD, ON. >> THE WORLD STAGE THAN IT WAS A >> THE WORLD STAGE THAN IT WAS A WEEK AGO. WEEK AGO.

>> YEAH. WELL, AND YOU PUT IT >> YEAH. WELL, AND YOU PUT IT STARKLY, WHICH IS WHY WE WANTED STARKLY, WHICH IS WHY WE WANTED TO IT'S A BIG STORY.

WE WANTED TO IT'S A BIG STORY. WE WANTED TO GET SOME UNDERSTANDING OF IT. TO GET SOME UNDERSTANDING OF IT.

AND YOUR ECONOMIC EXPERT, BEFORE AND YOUR ECONOMIC EXPERT, BEFORE I LET YOU GO, YOU LEFT AFTER A I LET YOU GO, YOU LEFT AFTER A LONG TIME WITH THE NEW YORK LONG TIME WITH THE NEW YORK TIMES. WE NOTED THAT ON AIR. YOU TIMES.

WE NOTED THAT ON AIR. YOU WRITE YOUR NEWSLETTER NOW AND WRITE YOUR NEWSLETTER NOW AND YOU'VE SORT OF WRITTEN IN THERE YOU'VE SORT OF WRITTEN IN THERE FOR THOSE WHO ARE INTERESTED IN FOR THOSE WHO ARE INTERESTED IN THE CIRCUMSTANCES OF YOUR THE CIRCUMSTANCES OF YOUR DEPARTURE, DO YOU FEEL THAT THE DEPARTURE, DO YOU FEEL THAT THE NEW YORK TIMES AND OTHER MEDIA, NEW YORK TIMES AND OTHER MEDIA, QUITE FRANKLY, ARE TAKING UP THE QUITE FRANKLY, ARE TAKING UP THE RIGHT APPROACH AND BEING SORT OF RIGHT APPROACH AND BEING SORT OF WITHOUT FEAR OR FAVOR ABLE TO WITHOUT FEAR OR FAVOR ABLE TO COVER THIS ADMINISTRATION, WHICH COVER THIS ADMINISTRATION, WHICH HAS THREATENED JOURNALISTS, HAS THREATENED JOURNALISTS, WHICH IS, AS WE'VE COVERED, WHICH IS, AS WE'VE COVERED, GOING AFTER THE RULE OF LAW IN GOING AFTER THE RULE OF LAW IN VARIOUS WAYS. IS THERE ANY VARIOUS WAYS.

IS THERE ANY THOUGHTS YOU WANT TO SHARE ABOUT THOUGHTS YOU WANT TO SHARE ABOUT THAT AT YOUR FORMER EMPLOYER AT THAT AT YOUR FORMER EMPLOYER AT THE TIMES, OR HOW THE THE TIMES, OR HOW THE JOURNALISTIC COMMUNITY SHOULD JOURNALISTIC COMMUNITY SHOULD APPROACH THIS RIGHT NOW? APPROACH THIS RIGHT NOW? >> I MEAN.

>> I MEAN. >> YOU KNOW, THE CONVENTIONAL >> YOU KNOW, THE CONVENTIONAL NEWS MEDIA ARE INVALUABLE. NEWS MEDIA ARE INVALUABLE.

>> SO I. >> SO I. >> YOU KNOW, I.

DEPEND UPON THE >> YOU KNOW, I. DEPEND UPON THE REPORTING. REPORTING.

>> FROM MY OLD EMPLOYER. >> FROM MY OLD EMPLOYER. >> I DEPEND UPON THE REPORTING >> I DEPEND UPON THE REPORTING FROM OTHER NEWS ORGANIZATIONS, FROM OTHER NEWS ORGANIZATIONS, BUT THERE'S DEFINITELY SCENE BUT THERE'S DEFINITELY SCENE WASHING.

WASHING. >> THAT GOES ON. >> THAT GOES ON.

>> DEFINITELY AN UNWILLINGNESS >> DEFINITELY AN UNWILLINGNESS TO. JUST FLATLY REPORT THE TO. JUST FLATLY REPORT THE ANNUAL.

WE HAVE. ANNUAL. WE HAVE.

>> A CRAZY. >> A CRAZY. >> STUFF THAT.

>> STUFF THAT. >> WAS TRUE. >> WAS TRUE.

>> DURING THE CAMPAIGNS, EVEN >> DURING THE CAMPAIGNS, EVEN MORE. MORE. >> SO NOW.

AND IT REALLY, IF ALL >> SO NOW. AND IT REALLY, IF ALL YOU DO IS. YOU DO IS.

>> READ THE PAPERS THAT YOU >> READ THE PAPERS THAT YOU DON'T, YOU. DON'T, YOU. >> DON'T GET ALL OF THAT.

SO >> DON'T GET ALL OF THAT. SO THIS IS. THIS IS.

>> WHY, YOU KNOW, I'M HAPPY TO >> WHY, YOU KNOW, I'M HAPPY TO BE NOW FREE TO, YOU KNOW, HAVE A BE NOW FREE TO, YOU KNOW, HAVE A FAIRLY. SUBSTANTIAL SUBSCRIPTION FAIRLY. SUBSTANTIAL SUBSCRIPTION BASE ALREADY AND BE.

ABLE TO BASE ALREADY AND BE. ABLE TO TALK ABOUT THIS STUFF WITHOUT. TALK ABOUT THIS STUFF WITHOUT.

WITHOUT TRYING TO SOUND WITHOUT TRYING TO SOUND MODERATE. MODERATE. >> AND SENSIBLE BECAUSE.

>> AND SENSIBLE BECAUSE. >> THESE ARE NOT. >> THESE ARE NOT.

>> MODERATE AND SENSIBLE TIMES. >> MODERATE AND SENSIBLE TIMES. >> AND TO BE CLEAR, I DON'T WANT >> AND TO BE CLEAR, I DON'T WANT TO PUT ANY WORDS IN YOUR MOUTH.

TO PUT ANY WORDS IN YOUR MOUTH. AS A JOURNALIST, YOU MENTIONED AS A JOURNALIST, YOU MENTIONED SANE WASHING OR THE SORT OF SANE WASHING OR THE SORT OF APPROACH OF GIVING, EXCESSIVE OR APPROACH OF GIVING, EXCESSIVE OR NOT ENTIRELY FACTUAL CREDENCE TO NOT ENTIRELY FACTUAL CREDENCE TO SOMETHING FOR EMPIRICAL OR SOMETHING FOR EMPIRICAL OR RHETORICAL REASONS. ARE YOU RHETORICAL REASONS.

ARE YOU CONCERNED THAT THAT'S HAPPENING CONCERNED THAT THAT'S HAPPENING IN PRINT OUTLETS? ARE YOU IN PRINT OUTLETS? ARE YOU CONCERNED THAT'S HAPPENING AT CONCERNED THAT'S HAPPENING AT THE NEW YORK TIMES?

THE NEW YORK TIMES? >> OH. >> OH.

>> I THINK YES. >> I THINK YES. >> I MEAN.

>> I MEAN. >> I'M SORRY, I DON'T WANT. >> I'M SORRY, I DON'T WANT.

>> TO TRASH MY EMPLOYER. >> TO TRASH MY EMPLOYER. >> YOU KNOW, DO.

>> YOU KNOW, DO. >> NOT DROP YOUR SUBSCRIPTION TO >> NOT DROP YOUR SUBSCRIPTION TO THE NEW YORK TIMES AS AN THE NEW YORK TIMES AS AN ESSENTIAL NEWS SOURCE. ESSENTIAL NEWS SOURCE.

>> BUT YOU DEFINITELY MOSTLY IT. >> BUT YOU DEFINITELY MOSTLY IT. >> TAKES THE FORM.

>> TAKES THE FORM. >> OF A. >> OF A.

>> SORT OF FLATTENING. >> SORT OF FLATTENING. >> THAT EVERYTHING BECOMES YOU >> THAT EVERYTHING BECOMES YOU DON'T GET THE FULL SENSE.

YOU DON'T GET THE FULL SENSE. YOU DON'T. DON'T.

>> YOU JUST DON'T. >> YOU JUST DON'T. >> I MEAN, DID YOU IF YOU READ >> I MEAN, DID YOU IF YOU READ ABOUT ELON.

ABOUT ELON. >> MUSK'S ATTACK ON USAID. >> MUSK'S ATTACK ON USAID.

>> THE CRITICAL AGENCY, DID YOU >> THE CRITICAL AGENCY, DID YOU READ THAT HE CALLED IT EVIL, READ THAT HE CALLED IT EVIL, THAT HE SAID ALL OF THE STAFF. THAT HE SAID ALL OF THE STAFF. ARE LEFT.

ARE LEFT. >> WING MARXISTS WHO HATE >> WING MARXISTS WHO HATE AMERICA? I THINK.

AMERICA? I THINK. >> YOU PROBABLY.

>> YOU PROBABLY. >> MAY NOT HAVE. >> MAY NOT HAVE.

>> SEEN THAT. OR IF. >> SEEN THAT.

OR IF. >> IT WAS DOWNPLAYED. >> IT WAS DOWNPLAYED.

>> IT WAS IN PARAGRAPH 19. AND >> IT WAS IN PARAGRAPH 19. AND THAT'S WHAT I.