This is an adapted excerpt from the April 3 episode of “Inside with Jen Psaki.”
Donald Trump’s tariffs appear to be going just about as well as nearly every economist expected they would. Markets hit an absolute free fall on Thursday. Here’s how The Wall Street Journal summed it up: “U.S. Stocks Are Headed for Biggest Wipeout in Market Value Since March 2020.” Yes, March 2020, the Covid crash.
Even Trump’s usually reliable buddies on Wall Street see these tariffs as an enormous disaster — and it is easy to see why. Trump is raising prices on nearly everything Americans buy: toys, cars, furniture — even beer. These tariffs will almost certainly cost the average American family thousands of dollars. And now, lots of serious and sober economists are talking about the possibility of a recession.
The entire fate of the global economy rests on the whims of one man who does not seem to have any idea what he’s actually doing.
To be clear, Trump told us he was going to do this. Kamala Harris tried to warn us all, too. In September, she told my colleague Stephanie Ruhle that Trump’s tariffs would amount to “a sales tax on the American people.”
During a rare public appearance on Thursday, Harris referenced those warnings she gave during the campaign. “There were many things that we knew would happen, many things,” Harris told the crowd at the Leading Women Defined Summit in Dana Point, California. “I’m not here to say, ‘I told you so,’” she added before the crowd burst into applause.








