Trump Caves to Tariff Uproar, But Doubles Down on China | Olivia Munn
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You're listening to Comedy Central. Yeah!

From the most trusted journalists at Comedy Central, it's America's only source for news. This is The Daily Show with your host, Desi Lydon. Welcome to The Daily Show. We've got so much to talk about tonight. Trump's tariffs are on.

but they're also off, so who f***ing cares? Let's get into it with another installment of Trade Wars. My favorite word. My favorite word. Tariff! Tariff!

Last Wednesday, Donald Trump announced that in one week he was going to impose the biggest increase in tariffs in 100 years. And after a week of panic buying, a year's supply of toilet paper and air fryers, the day has finally arrived. It is 11:59 and 48 seconds, which means we are just moments away from the president's new tariffs. It's President Trump's long-awaited tariff day. It's reciprocal tariff day. Well, the tariffs are here. All right, it is tariff day.

It's what Trump is replacing Juneteenth with. Now, Trump is celebrated by putting tariffs on every country in the world, including 104% on products made in China, which is probably fine. I mean, how many products are made in China?

But Tariff Day wasn't just celebrated here in America. Other countries got in on the fun, too. -Swift retaliation. Both China and the European Union are responding to President Trump's tariffs. China has announced its own retaliatory tariffs, 84% on all tariffs.

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. - 25% on yachts? 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. This is not a negotiation. It's not the kind of thing you can negotiate away. I don't think there's any chance that President Trump's going to 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. Skate, skate, skate, mother******. Trump's policy will never, ever change. This is CNN Breaking News. The president announced just minutes ago that he's now, quote, authorized a 90-day pause on some of his new tariffs. The trade war's over? Day. I shaved my legs for this. Laughter

But hey, at least we can buy things from China again, right? Amazon Prime here. Notably, though, the president is raising the tariff applied to China from the United States to 125 percent effective immediately. So this pause applies to other countries, not China. Hey, Siri, cancel 1000 air fryers.

Trump, I don't understand what happened here. You tanked global stock markets. You put us on the verge of a recession. You told everyone to build factories in America because the tariffs wouldn't go away. And then you took them away. What happened? Did you just get spooked by the markets? The 90-day pause when there was a...

uh no this was his strategy all along absolutely brilliant move brilliant not only economically politically it was good for the american worker he's negotiator in chief he's landing the plane it's the master of the deal i mean you're watching the art of the deal in real time here many of you in the media clearly missed the art of the deal

Ah yes, the art of the deal. Create a global crisis and then dig yourself halfway out. It's truly masterful, Donald. I'm sorry art of the deal is art in the way that Jackson Pollock is art. Like, it looks like someone just threw a bunch of shit at the wall but now I have to pretend like it's genius and it's gonna cost millions of dollars? Come at me, abstract expressionism hive. You know I'm right.

Come on, Trump. Just admit that you started a game of chicken and you got too scared to finish it. Well, I thought that people were jumping a little bit out of line. They were getting yippy, you know? They were getting a little bit yippy, a little bit afraid. Oh. Hey, it's our fault. We got too scared. Sorry. I tend to get a little yippy when my retirement plan starts to look like the elevator from The Shining. I'm sorry.

Straight down and heavy flow. I'm sorry, I don't mean to be dramatic, but this is the worst tariff day ever. This whole trade war was launched on incoherent arguments. You stuck to your guns for incoherent reasons, and now you're pulling back for incoherent reasons. Is there anything you can say that actually makes sense? No other president would have done what I did. No other president. You got me there. I do agree with that.

Still though, I just wish that someone could explain what the strategy is going forward with these tariffs. I mean, is there anyone who can tell me? Desi, Desi, hi, I can tell you. Hey. Oh, hi. Oh my God, Olivia Munn. I'm a correspondent on The Daily Show. I thought you left in 2011. Oh, oh, no. You know how John comes in one day a week? Yeah, I have the same deal. It's just I come in once every 14 years. My dad's a cicada.

Oh, okay. I see. Well, I'd ask what you've been up to, but I have the internet. That's fair.

So break it down for us. What is Trump's strategy here with these tariffs? Everyone's scared. There's so much uncertainty and there's no this is no way that you can actually run an economy. Desi, be cool. OK, Trump knows exactly what he's doing. He put tariffs that destroyed the global economy. So then he took them off and now it's only mostly destroyed. Now, to avoid tariffs coming back, other countries will cut deals with us for better trade terms and our deficit drops to zero. Problem solved.

Okay, I see. And that's when we drop all the tariffs. No, bitch. Then we hit them even harder. 400% tariffs. We bomb their factories. We catch those penguins on that island and we eat them. Then the other countries will really come begging. We can get whatever we want, baby.

IKEA furniture comes assembled. Honda Accords, trunks full of Nike sneakers. We'll get to pee on their currency while they watch. Then we've won.

Gross, but fine. Then the trade war ends. Yes, then it makes sense for the trade war to end. But psych, bitch, 4 billion percent tariffs. You're in our house now. The new iPhone, $3. Nike sneakers, comes with a Honda Accord. Then we pee on their currency again. They're not even watching. It's just the only way we can pee anymore.

Olivia, why? How does any of this make up the trade deficit? Desi, baby girl, it's not the trade deficit. This is all to make up for Donald Trump's enormous deficit of attention and love. He said as much last night. I'm telling you, these countries are calling us up, kissing my ass. They are dying to make a deal. Please, please start making a deal. See? He's just a boy.

standing in front of the world asking to have his ass kissed. And once the world fills the aching hole in his heart, the tariffs will end. But that will never happen. There's not enough attention in the world to make him feel like a human again. Exactly, bitch. Oh, now I get it. Wow, that was really enlightening. Thanks, bitch.

Who are you calling bitch? Oh, I'm sorry. I'm sorry. I thought we were... Having a thing? Yeah. Yeah, we're not. Oh, okay. Well, thank you for your analysis. No problem. I'll see you in 2039. Olivia. Good morning, everyone. You'll find out which...

And the content they can see.

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Last week, scientists announced that they had produced three cubs with the DNA of the prehistoric dire wolf. Then two days later, a white woman tried to bring one on an airplane as her emotional support animal. But the question is, what animal is next in line for de-extinction? Troy Iwata found out. Climate change. It could kill us any day now, if we're lucky. But one scientist has a solution.

Meet Dr. George Church. He knows exactly how to curb climate change, and the answer is so simple. We're engineering cold-tolerant elephants using DNA from ancient, extinct woolly mammoths to help us with climate change. You're going to bring back the woolly mammoth. Something like that. From the Ice Age.

Around that era, yeah. Voiced by Ray Romano? Yeah, that's the theme. Oh yeah, that's good. So while some think they're doing their part with their electric cars, George and his company were making Jurassic Park a reality. Colossus Biosciences is a genetic engineering firm working to resurrect the woolly mammoth. This process will save animals on the brink of extinction and even improve the environment.

You know, I never thought about the woolly mammoth angle. I almost feel stupid for not

Thinking about it because it was right there in front of me. I just have one silly question How exactly is a woolly mammoth gonna combat climate change? Are we going to provide them with the canvas tote and metal straws? There aren't that many solutions that address the gigantic amount of carbon that could be released in the form of methane from the Arctic we're concerned about both

keeping that carbon in the ground frozen, which means it would be nice to have cold resistant elephants stomp down the snow and allow the minus 40 winter wind to come in and cool down the permafrost.

Knock down the trees. And elephants are one of the few animals in the world that will knock down trees. Got it. They love knocking down trees. So a big part of this is about knocking down trees? And restoring the grasslands and the vibrant ecosystem that came along with it. Right, right.

Have you considered monster trucks? I feel like with the right combination of monster trucks, monster truck drivers, and meth, you could really knock down a lot of trees. We haven't discussed that yet. That's out of the box. Well, I am on board. Not because I'm pretending to understand everything that you're saying or comprehend the science behind it, but I would love a pet woolly mammoth.

I think that would be fun. I, okay. Just me and my pet, Willie Nelson. This is the best idea ever. I think it's a bad idea. Extinct species are extinct. Bringing them back to influence climate change, it's a non-starter. There's always a buzzkill. Meet Dr. Ross McPhee from the American Museum of Natural History.

I've spent most of my career on Ice Age paleontology, on mammoths, on saber-toothed cats, you name it, I've been there. Wait, so you're a paleontologist who works at the American Museum of Natural History and your name is Dr. Ross? I know, I know where you're going with this. I didn't think today could get any better, but oh my god. Okay, Troy, here it is. This is the mammoth.

This is what they want to bring back? They want to bring this back in all of its glory. Wow. Well, it seems easy enough. The bones are all there. Right, but it's a little matter of the soft tissues that we need as well. Oh, right. Kleenex. Yeah. So how would they even resurrect an extinct species? The woolly mammoth and the Asian elephant are very closely related. We can engineer them to be compatible with genetic engineering tools. Okay.

So in a way, you're making sort of an Asian hybrid? Correct. Okay, well now I know why they asked me to do this interview. But here's the problem. Money that's going to be spent would be much better spent

on endangered species that are still with us. But can you imagine a beautiful world where humans and woolly mammoths play together on Earth? We're talking about an animal that is eating 300 pounds of food a day. 300 pounds? Someone call TLC. Yeah, I know. Nobody wants something that's 5,000 to 6,000 pounds marching around in their yard. Oh, my God. Have you been reading my journal? In my childhood dream journal, I wrote, "I want something that's 5,000 to 6,000 pounds marching around my yard."

It's a big mistake. Well, I was a kid. Both of these geniuses made good points, but only one of them had a secret lab full of prehistoric creatures. And I couldn't believe I was finally going to meet one of these majestic mammoths. Wow. This is amazing. So where are the mammoths? Are they in the back? Even a simple engineered elephant's a little short of a mammoth, probably 2028 at the earliest.

2028. Are you f***ing kidding me? We can show you some elephant cells. All right, let's see some elephant cells. Fun. These are very precious cells that took us years to develop. Oh, interesting. It's very sterile, very rich growth media. So you're going to turn this water into a woolly mammoth.

Well, the cells could conceivably contribute to changing the genome of an elephant. Okay, bringing back a woolly mammoth to curb climate change might seem bonkers, but it's either that or carpooling with co-workers we hate. At least this guy will be here when we're all gone. Olivia Munn will be joining me on this show soon.

And the content they can see.

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Hello, welcome home. Thank you. It is so nice to be here. I love it here. Do you like that we invite you to come on as a guest and then we immediately put you to work? I love it. This was when I got the call to be on The Daily Show. It was...

Like, I mean, at that time, it was like Jon Stewart. Yeah. Is, was, will always be the king of comedy. But to get that call to come on. Oh, yeah. It was, I mean, I remember I was standing right over there. It was my first time. I was in the dark and I just was like,

Gosh, oh my gosh, oh my gosh. And just remember, I couldn't breathe. I was like, oh my God, I'm forgetting to breathe. So I was so nervous. Yes. It was just the best time of my life. And it was probably a whirlwind, right? Did you get hired and then immediately put on the show? I got hired and then we knew that they're like, we're going to have you on in two weeks. So there was like a two week of writing process behind the scenes. Oh my God. And this was 2011 when you were on? 2010. 2010? 2011, like 2010 to 2012.

Okay, I was meaning to ask you, do you mind if I finish that Go-Gurt that you left in the fridge? I did already. Do you think that's... I'll hope for the best. You know what, they do have a lot of great snacks here. They do. Although, I don't, you guys wouldn't know because you're not inside the building like that, but you guys, Trevor did something to the inside of your offices and it's not good.

You guys, it used to be like all open and everybody could like look over their desks and talk to each other. Now it's like you're inside of a train car, right? It's like all compartmentalized. Well, they tried to give everyone their individual space, but we're in really tight little spaces now. So it does feel like you're working inside of a shoebox. Yeah, yeah, yeah. And it was already like, my office back then was already really shitty. Yeah. Now they made them shittier. They're even shittier. Yeah. They really are. You know, Paramount cuts. What do you do? I'm sorry. We don't have abs.

Apple TV money. Is it during crazy political times like this, are you just like, oh, thank God I don't have to cover news anymore? Yeah. I don't think I could keep up with it. And honestly, I just, I hear things, you know. I hear it's

hear some things. Like today I heard something about the tariffs and I was like, oh yeah, there's tariffs. And I knew I was coming on. So I learned more because I was coming on here. Yeah. But I, I kind of go, uh, through life kind of like, uh, like I have two babies. We've got a lot of other stuff happening. So it's really hard to, uh, to think about digesting all of the news that you have. God, that sounds so nice. I just, just a day of that.

Although you have been tapped in because you've been hosting, co-hosting the Today Show with Jenna in the last week. You've been fantastic. Has it been so much fun? It's so much fun. It is. Thank you. She's great on there. She's great on there.

It's a very fun show to be on. They're really, it's just very easy. Do they still give you copious amounts of Chardonnay? No, they didn't this time. They've let up. Yeah, I think that was, yeah. Maybe that's a Kathie Lee thing. But anyways, no, it's just very nice and pleasant. You weighed in on the all-female space mission.

Yes. Blue Origin. Blue Origin. Were you surprised by the response that you got from that? You know, I was actually very happy to hear so many people feel the same way. They think it's ridiculous. Yeah. We'll tell them what you said. Yeah. Yeah. Well, do you guys know what we're talking about?

Good thing you don't. But they are going on this press. It's like, I can't, who all's in it? There's a group of women, Jeff Bezos' wife, Lauren Sanchez, Katy Perry, Gayle King. They're going to space. They're calling it this whole female exploration. I don't know. They were on the cover of Elle magazine as if they were making history. Yeah. And...

My gosh the thing the things that that threw me was that they said they're gonna put the ass in astronaut I think Katy Perry said that and they all talked about going in full glam And I think is Gayle King talking about my eyelash glue. I couldn't take it. I just was so annoyed by that Here's the here's my biggest issue with that like

This big press push feels like they think they are shattering some outer space glass ceiling. But I think it's just a girl's trip. Like, I'm pretty sure that's all it is. Women will stop at nothing for just a good old-fashioned girl's trip. I will say, though, as a woman on this planet in this moment in time, I do love the idea of launching myself into outer space. Well, can I just tell you this?

If this was all about feminism for them, they wouldn't be putting themselves on that rocket. There are so many female astronauts who have been training their whole lives to go into space and haven't gotten that call.

These are the least qualified people to be in space and by the way, it's not even space we could see them right now like it's that easy like they're not going up very far. Mission right 11 you're calling it a mission. What's the mission was there. I can't hate to put the ass and astronaut I get.

I guess. Well, now they're done training, I heard. Well, there's so much. Now you've got me invested in this story. Well, I only had to get invested because they forced it onto us by telling us in the press all about it. And we were such a big press push. Oh, my God. I have more to say. I want to do an hour podcast.

All right, well, we'll put out an extended cut. Oh my gosh, you should. Congratulations on marrying your love, the brilliant John Mulaney. Thank you very much. Last year. Thank you. You have two beautiful babies, Malcolm and May. I follow you on Instagram, and your baby content is very impressive. That makes me so happy, because that's pretty much all the content I have.

That's all I have. What has it been like being at home? Who's the fun parent of the two of you? You know, funny you ask, because people would think John, because, like, you know, of his history. But he is the strict parent. Really? Yeah, yeah, yeah. And it does become, like, a little bit of an issue. John will say, like, the other day, he was like, Malcolm, no throwing balls in the house.

And then he leaves and I said, Malcolm, do you want to throw the ball in the house? You are bad. Well, you know, I grew up in a family of five. John grew up in a family of four. So similar, but the difference is like we were like in martial arts as kids. We were like really physical. We fought. I do not think there was like, you know, hand-to-hand combat in John's family growing up. It's a very different Irish Catholic kind of upbringing. So I like things to be a little bit more rowdy and...

The other day, Malcolm said, Mama, can we throw the beach ball up to the fan in the ceiling? And I said, yeah, should we turn it on first? And then we do that. The ball goes flying. It breaks a glass, obviously. And then John comes in. He's like, Olivia, what are you thinking? It's what he says to me a lot. And it's true. And then he said, you know what I realized?

The kind of parent that you are, he told me that I'm like Drop Dead Fred as a parent. Do you guys know Drop Dead? Oh, what a great movie. You guys too young? Some people are nodding. Some people are old enough like that. Yes, thank you. Look up Drop Dead Fred. I mean, I was like, oh, yeah, that's.

That's, yeah, I am drop-dead Fred as a parent. You're the imaginary best friend. I'm the imaginary best friend that's like, do whatever. Let's, like, make mud pies in the living room. Who cares? I think you're flipping gender stereotypes. I fully support this because you know all about the fun dads and then moms have to come in. No, you're a fun mom. I think you own that. Yeah, I am. Thank you.

Are you having fun doing this? Are you kidding me? No. I'm just waiting for them to pull the rug out from under me. You guys are doing so great. It's so fun to watch you guys. I remember when I came out, I see you guys on the banners outside. When I was here for two years, I never got a banner. You never got a banner? I never got one. I asked John a few times ago, can I get the banner? We've got to get you a banner. Oh, my gosh. Give me a banner now. Just an honorary.

That would be nice. And maybe next time I come, you can put one up for the day. We will absolutely present you. Yeah, and then you can take it back down. Yeah, and then we'll take it back down. It'll be an 11-minute mission. It'll be fine. You actually took quite a bit of time away from acting to spend the time with your family. You had Malcolm, and you were very open about experiencing postpartum depression. Yeah, postpartum anxiety. Anxiety. Yeah, so I had...

I've been prepared for postpartum depression because we hear so much about it. But postpartum anxiety came on and it was, I don't know if anyone here has gone through that or their partners have, but it is one of the worst experiences of my life. It came on like a month or two after I had Malcolm and I woke up at 4 a.m. My eyes just pop open and I start going, and I

keep reading like that all day long and I keep waking up like that every day at 4:00AM for a year. Oh my God for a full year. I just couldn't breathe. I just had so much anxiety and it wasn't there was no actual thoughts and thank God I didn't have any thoughts of self harm or harming others. I have so much compassion and sympathy for mothers who are going through that and I think that people don't understand it enough. I'm not compassionate enough about what it's like to be a mother into

birth a baby and everything that happens to your body and the hormones, but it was incredibly difficult, but I did make it through to the other side.

The fact that you're so openly discussing it is so helpful to so many other women who have experienced it. You've also been incredibly open about your breast cancer diagnosis, which is not just courageous, but an incredibly generous thing to do. I can't even imagine deciding that in that moment in time, everything you were going through. What made you want to share your story? Well, there was a few reasons, but the biggest is that I was looking back

on photos with myself and my son. And I, I, there was this one video I had of me and him and I was laughing and we're playing and I had had a clear mammogram like just around that same time, but I had cancer and I didn't know it.

And the way that my cancer was found was because my doctor did the lifetime risk assessment test. It's this free online test. It takes a few minutes to take. And I link it in my Instagram bio just because there's a very specific one that does the best calculation. It's the Tyra Cusick test. And she took it and she said, your score is 37.3%. Anything above 20% is considered high risk. She sent me to get an MRI.

And after that, I was diagnosed with multifocal, multi-quadrant bilateral breast cancer, stage one. Yeah. With a clear mammogram. Clear mammogram, clear ultrasound, clear genetic testing for any genetic cancer. So no BRCA or anything like that. I was doing everything I thought I had to do to take care of myself.

This test has been around for a very long time. It's just not something people have heard about a lot. So that's why I wanted to talk about it. I said, if I could, I told John, if every woman just knew that they could have their own score right there and take it to their doctor, it could just change their life and save their life. And that's why I made the decision to talk about it.

Such a generous thing for you to do. And you've had women come up to you and say, thank you so much for sharing that. You've impacted other women's lives by sharing that. That's the thing that I was not expecting. Because when I was diagnosed, the first thing I said to John was like, don't tell anybody. We're not telling anybody. And it wasn't that I was embarrassed or ashamed. I...

I couldn't deal with other people's worry. You know, I didn't want to tell my mom. I didn't want to hear my sister worry and panic. I didn't want my mom to cry. And then I realized very soon that he needs support as well. So I said, you know, let's just tell whoever we need to tell. But...

The sisterhood of women who have gone through this, it's so beautiful and so amazing. And every time someone comes up and says something to me or wants to stop and talk to me about their own journey or their mother or sister or their wives, it's just, it sounds a little cheesy, but I do get healed a little bit more every single time. And...

And it's a strange thing to say it, but, and I can only say it because I've made it through to this side, but I would happily go through cancer all over again if it meant that I could reach out to this many people and save this many people's lives. A million percent, I would do it all over again.

I'm so grateful that you're on the other side of it now and you're healthy. And now you have this, you're back to work. You have this incredible new show. Yeah, thanks. And you took some time off, but tell us what was so enticing about this project. Was it Jon Hamm's penis? It doesn't just star Jon Hamm's penis. Olivia's also in it. And Amanda P. Amanda P, yes. Great cast. I...

Well, it was Apple TV, which I think that they do the coolest content, and then Jon Hamm, Jonathan Tropper. And it was... I love that we're meeting these people, Jon Hamm and myself, specifically at this time in their life where their lives are crumbling. It's about the one percenters in the country and these people who are...

born into wealth and have everything that you think that you could ever want or need. And Jon Hamm's character loses everything and starts to steal from his rich friends and neighbors to keep up his facade. And my character is the only one in the world that wasn't born into wealth. She has a blue-collar upbringing and she married into this.

So we meet my character in the middle of a divorce on the precipice of losing everything. And I really-- I find it fascinating to watch

and people who have so much lose it all. - It's a great premise. I mean, there's a ton of conflict. You're phenomenal in it. The two of you have such great chemistry. There's like a fun banter. There's like a fun rhythm to the show. - Yeah, that's Jonathan Chopper's dialogue. He's a fantastic novelist and writer. And Jon Hamm is an executive producer on this, so he had his hand in everything as well.

It's great. And your scenes with Amanda Peete are phenomenal. I mean, so far that's my favorite episode. She's so good in it. The two of you together are very, very good. Yeah, I love her so much. And it just got picked up for a second season. So congratulations. Thank you. Thank you. I adore you. Thank you so much. Congratulations on everything. Thank you for having so much fun with us. We miss you dearly, but we're so happy for all of your success. Thank you so much. I appreciate that. Your friend, Livia Munn. Thank you so much.

Please consider donating to Susan G. Komen, an organization dedicated to saving lives by meeting the needs in our communities and investing in breakthrough research to prevent and cure breast cancer. If you can, please donate at the link below. Now here it is, your moment of zen.

If this was the strategy all along to bring them to the table, why did you instruct or advise or maybe they did it on their own some of your top aides to say this is not a negotiation, to hold the line, that they were going to hold the line, that you were not going to change the line? Well, a lot of times it's not a negotiation until it is.

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