Name: Trump's Trade War: China Enters the Chat | The Daily Show
Uploaded: 2025-07-07T00:46:02.000Z
Duration: 23 min 19 s
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It's been one week since Donald Trump announced his bold vision for destroying the economy and guess what?

After another chaotic day on Wall Street, America's CEOs are sounding the alarm.

Most CEOs I talk to would say we are probably in a recession right now.

A new CNBC survey showing those concerns are widespread.

With 69% of CEOs expecting a recession and 82% expecting resurgent inflation.

This is a snapshot of the Dow since President Trump's inauguration.

After dropping more than 15% since its record high, putting it into correction territory.

I'm not an economist, but it's probably a bad sign when the chart itself looks like it jumped off the roof.

Six Flags is going to make a roller coaster of that.

So the economy is incredibly unstable right now.

The only upside is that this crash is much easier to understand than the 2008 one.

Remember the big short where they had to have Margot Robbie explain it in a bathtub?

So the president may have single-handedly tipped us into a global recession.

And with so much uncertainty, the world is glued to the financial news networks who are surely focusing on this story 24-7, right, Fox Business?

The president welcomes the World Series champions, the Los Angeles Dodgers, to the White House.

So yes, economists are afraid that we're headed into a recession.

Things could still improve quickly as long as Trump de-escalates soon.

President Trump escalates his trade war with more threats against China.

President Trump is now promising a new 50% tariff on China, on top of the other new tariffs, which are on top of existing tariffs.

Combined, this would make U.S. tariffs on imports from China a whopping 104%.

We'll know exactly how serious once we ask China to do the math for us, but…

Point is, Trump is out of control right now.

I'd say he's like a bull in a China shop, but at 104%, I can't afford to say that.

It's really starting to feel like the entire world is teetering on the brink of chaos.

It's honestly impossible to report on literally anything else right now, right, Fox News?

A women's pool championship in the U.K. with no women in the final round, after two transgender players defeated their female opponents to face off for the title.

But the tariffs aren't just tearing apart our economy and tearing apart America's trade with China, they're also tearing apart Donald Trump's friends.

An internal battle over Trump's tariffs between top advisor Peter Navarro and Elon Musk.

This is a behind-the-scenes rivalry that's now exploding into public view between Elon

Musk and Peter Navarro, two very different wings of the Trump administration.

Ooh, I have to pick between Elon Musk and Peter Navarro?

This is like the trolley problem, if the problem was that you only have one trolley.

But you know what, this is actually a substantive debate.

Elon likes free trade, Peter Navarro likes the tariffs.

Elon's a car manufacturer, but he's not a car manufacturer, he's a car assembler.

If you go to his Texas plant, a good part of the engines that he gets, which in the

EV case, is the batteries come from Japan and come from China.

And he wants the cheap foreign parts, and we understand that.

Peter Navarro thinks Musk is taking advantage of unfair trade policies at the risk of American prosperity.

And there's the latest, calling him Peter Ritardo.

God, I hope Elon Musk never has to defend himself in court.

Ladies and gentlemen of the jury, gaaaaayyy!

Getting this glimpse into Trump's team of dumb-dumb rivals is even more disturbing.

The president is sending the economy off a cliff, business leaders are furious with him, his team is tearing each other apart, and the two biggest economies on the planet are entering a trade war.

It might be time for the news organizations that supported him to come to terms with why they supported him in the first place.

This is a remarkable moment that has come to light all over again.

Back in 1992, Donald Trump threw a football, threw a hole designed for one football.

Paris Day wasn't just celebrated here in America.

Both China and the European Union are responding to President Trump's tariffs.

China has announced its own retaliatory tariffs, 84% on all U.S. goods it imports.

According to the European Union, almonds, orange juice, poultry, soybeans, steel and aluminum products, tobacco and yachts imported from the United States now will have a 25% levy on them.

Why do these trade wars always have to screw over the little guy?

I'll be honest, I didn't even know America made yachts.

I thought the only thing we made here was Nepo babies.

But this really feels like it's spiraling out of control.

It seems like the smart move is to back off this whole thing.

But Trump's team has been adamant that they will stay the course.

It's not the kind of thing you can negotiate away.

I don't think there's any chance they're gonna...

that President Trump's gonna back off his tariffs.

The president made it clear yesterday this is not a negotiation.

Trump posted this morning, my policies will never change.

Well, that's it then. They're in it to win it.

Full speed ahead from the window to the walls.

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Trump's Trade War: China Enters the Chat | The Daily Show

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