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Trump Continues to Defend Tariffs

2025/4/7
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中国政府官员
特朗普总统
领导成立政府效率部门(DOGE),旨在削减政府浪费和提高效率。
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特朗普总统:我当选的原因之一就是因为关税政策,虽然市场会如何变化我无法预测,但我们的国家已经变得更加强大。 我认为有时候你必须服用药物来治疗疾病。关税政策就是这种药物,虽然它导致全球市场动荡,但这最终是为了让我们的国家变得更好。 我坚信,通过关税政策,我们可以让美国经济变得更加强大,最终成为世界上独一无二的国家。 Jerusalem Dempses:特朗普的关税政策对普通民众的长期影响令人担忧,可能导致失业和投资减少。 目前人们对特朗普关税政策的长期影响抱有希望,但这似乎是不切实际的。 我们需要关注的是,关税政策是否会对人们的就业产生影响,企业是否会停止投资,以及这是否会影响我们建立特朗普所说的制造业基础的能力。 Stephen Collinson:政府官员声称关税政策旨在重塑全球经济和贸易体系,但这可能会导致严重的短期经济痛苦。 特朗普的关税政策虽然最终目标是利好美国经济,但短期内可能会造成巨大的经济痛苦,包括市场下跌和退休金缩水。 如果关税导致物价上涨并引发经济衰退,那么特朗普政府将面临更大的挑战,因为这与他竞选时承诺降低物价相悖。 关税政策的不确定性将导致未来一段时间内市场持续动荡。 Errol Lewis:特朗普的关税政策将导致企业寻求豁免,这将是一个漫长而复杂的博弈过程。 企业不会根据特朗普的反复无常的政策来调整投资和供应链,因为他们知道未来可能会换届。 律师有义务向法院陈述事实真相,即使这意味着要承认自己对案件缺乏了解。 Bob Kylan:农民需要政府援助来应对关税政策带来的负面影响,他们更希望拥有公平的市场环境。 之前的政府补贴并没有完全解决关税政策带来的问题。 在粮食生产中,农民获得的利润很少,大部分利润都被企业占据。 农民的利润微薄,勉强维持生计。 由于之前的关税政策的影响尚未完全恢复,新的关税政策可能会导致更多农场倒闭。 Robin Farzad:特朗普政府的经济政策试图同时实现股市上涨和就业增长,但这是一种理想化的设想。 特朗普政府的政策目标不明确,难以预测其对就业市场的影响。 特朗普政府的策略是通过谈判来解决关税问题,但其成功与否还有待观察。 CNN This Morning的主播:特朗普政府阻止了一项出售TikTok的交易,并声称这是因为关税。 关税政策对美国农民的影响是双刃剑:一方面可能提高国内牛肉价格,另一方面可能降低牛肉消费量。 美国麻疹疫情持续蔓延,导致第二名儿童死亡,大多数病例都发生在未接种疫苗的人群中。 特朗普政府删除了政府网站上关于废奴主义者哈丽特·塔布曼的信息。 中国政府官员:美国以互惠的名义行霸权主义之实,牺牲其他国家的利益以满足自身私利。 Sonny Perdue:之前的关税政策虽然造成了短期经济损失,但从长远来看是有效的,政府将提供资金来减轻此次关税政策对农民的影响。 Dr. Dhruv Kular:麻疹疫苗接种率下降导致疫情蔓延,需要至少95%的人口接种疫苗才能获得群体免疫力。 卫生部长罗伯特·肯尼迪三世承认疫苗是预防麻疹最有效的方法,但这为时已晚,麻疹疫情已经持续了四个月,并导致两名儿童死亡。 卫生与公众服务部裁员削弱了美国应对麻疹疫情的能力。 麻疹疫情并非小事,麻疹是一种高度传染性疾病,会导致严重的并发症甚至死亡,并且最近十年来美国首次出现麻疹死亡病例。

Deep Dive

Chapters
President Trump's tariffs are causing global market turmoil, with trillions of dollars wiped out in market value. The impact on average Americans is uncertain, with some fearing job losses and rising prices.
  • Trilions of dollars wiped out in market value due to tariffs.
  • Concerns about impact on jobs and ability to afford necessities.
  • Mixed reactions from business leaders and investors.
  • White House claims world leaders are eager to cut a deal.

Shownotes Transcript

Translations:
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It's Monday, April 7th. Here's what's happening right now on CNN This Morning. I don't want anything to go down. But sometimes you have to take medicine to fix something. And the result? Global markets in turmoil. President Trump defending it. How stock futures look ahead of the opening bell. Plus this. We have probably thousands of cases of measles in this country right now.

A second unvaccinated child dies from the measles. Will vaccine skeptic RFK Jr. push for people to get immunized? Also... You won't be able to get in or out without a boat or a helicopter. Communities cut off as relentless storms send rivers rising. The worst could be yet to come. And later... Our entire family is broken by what in nice words and error.

A Maryland father mistakenly deported to El Salvador today is the deadline for the Trump administration to bring him home. Why that won't be easy.

6 a.m. here on the East Coast, and here is a live look at New York. That's where I am this morning, so good morning, New York. I'm Adi Cornish. I want to thank you all for waking up with me. And let's start with the fear and loathing down the street on Wall Street. More than $5 trillion in market value wiped out by last week's tariff-induced sell-offs. And this morning, with just hours until that opening bell, U.S. futures are trending downward across the board.

I was elected on this. This was one of the biggest reasons I got elected. It was exactly because of this. Now, what's going to happen with the market? I can't tell you, but I can tell you our country has gotten a lot stronger. And eventually, it'll be a country like no other.

In a preview of just how rough the opening bell could be, markets across Europe and Asia struggled overnight. The White House claims the phones are ringing off the hook, with world leaders eager to cut a deal. The first to do so? Israeli Prime Minister Benjamin Netanyahu. He's scheduled to meet with President Trump in just hours. The two are expected to discuss not only tariffs, but also the ongoing war with Hamas.

and the potential for more conflict with Iran. Joining me now to discuss Errol Lewis, host of The Big Deal with Errol Lewis on Spectrum News, Jerusalem Dempses, staff writer for The Atlantic, and Stephen Collinson, CNN Politics senior reporter. So guys, first I just want to kick off this conversation talking about the impact

on all of us, people who have 401 s, people who do not. We reached out to the audience and asked people to tell us what they're going through. I want to show you some of the responses because the stock market is one thing, but when people start thinking about whether they can afford clothes or food, that is very different. So I want to start with the Trump administration's approach, which seems to be trust us. Dempsis?

Hi, Adi. Yeah, I mean, this is a situation where people right now, they're looking at numbers on a screen. They're either looking at stock markets crashing or they're looking at their own 401ks and investments. And then the really scary moment is going to be when and if does that actually impact people's jobs? Do businesses stop making investments? How does that impact our ability to actually build up the manufacturing base that Trump says he wants to build up?

So, we're really in this moment right now where there's a lot of hope that there maybe won't be long-term harm to regular people, but that seems really ill-placed.

In the meantime, you have someone like Bill Ackman, right, billionaire hedge fund investor. He, of course, endorsed Trump in the election. And then here he is tweeting that he supports the president's tariffs. But he's also asking him to somehow pause or rethink how he implements them. And Ackman went on to warn that Trump's current plan would result in, quote, "economic nuclear war that would scare businesses from investing in America." Stephen,

I don't know who is in more denial here, the business world, right, or people talking about the Trump administration. He has always been clear about how he feels about tariffs. So what do you hear in their scatter reaction?

Well, there is great contradiction in that reaction. Some officials were on TV yesterday saying that this is all part of an attempt to completely transform the global economy and trading system to bring back those manufacturing jobs to the United States. The problem with that is

And Trump said it in his comments on Air Force One there. That's all about eventually. In the short term, there could be great economic pain, not just from markets and depleted retirement funds. The tariffs, most of them, haven't yet come into force. That will take place later this week if the administration decides to carry on and go ahead.

That's when prices could start rising for Americans. This is a president that was elected a few months ago, partly on the basis of the fact that he promised to bring down grocery prices and prices for housing. And if prices start shooting up and that starts causing the recessionary factors that Jerusalem was talking about, then this gets a lot more serious.

Errol, I want to bring you in on this as well, because you are going to have countries calling to say, let's make a deal. You are going to have countries that feel like they don't have leverage. So is it working for Trump?

Well, you're going to have countries calling. You're also going to have industry leaders calling. You're going to have individual companies calling. We went through a version of this before, Audie. Let's remember, in the first Trump administration, he imposed tariffs. And there was a flocking of industries to lobbyists. And those lobbyists besieged the first Trump White House.

with requests for exemptions from these tariffs. That's what the whole game was always about, and Donald Trump never made any bones about it. In that case, there were something like 7,000 requests for exemptions, and about 10 or 14 percent of them got through. We're going to see world leaders asking for relief. We're going to see companies asking for relief. We're going to see Donald Trump enjoying all of it and in some perhaps random fashion granting favors here and there.

What that's going to do to the economy, I think it's pretty clear that business leaders are not going to start opening new factories or creating entirely new supply chains based on the whims of the current president. They know that 48 months from now, we're going to have a different president.

OK, group chat, stick around. We've got a lot more to talk about today, especially as markets will be opening soon. And also to you, our viewers, we want to hear from you here at CNN. So are you making changes to how you live or how you shop or preparing for your retirement? I want you to scan the QR code on the screen. It's going to take you online where you can fill out a little block and tell us what you're going to be

going through and we're going to be keeping an eye on that. You could end up seeing your responses here on CNN this morning.

Also coming up, don't try to stay. The federal government will find you. That's the email some migrants who live in the U.S. legally just received. And it was all a mistake. Plus, will President Trump seek a third term? His AG says it would be a heavy lift, but she's not ruling it out. And making hockey history, Alex Ovechkin, now the NFL's greatest goal scorer surpassing a legend.

Oh, it's amazing. I mean, I've been growing up watching Ovechkin from like right when he was drafted in 2004. It was amazing just to see everything going on. Now we're on 895. Here's the 995. Let's go! Woo!

I'm Dr. Sanjay Gupta, host of the Chasing Life podcast. What we see is that people who sit on the ground, their 5k times get faster. Their backs stop hurting. That's Dr. Kelly Starrett, co-author of a really good book called Built to Move, to give all of us busy people some of the simple tools to improve our range of motion, our posture, decrease our pain, and yes, become more mobile. Listen to Chasing Life, streaming now, wherever you get your podcasts.

If you're up and getting ready, it's almost 15 minutes past the hour. I want to give you your morning roundup, some of the stories you need to know to understand the rest of your day. 19 people confirmed dead after violent storms, tornadoes, and flooding hit the central and southeastern U.S. Ten of those fatalities reported in the state of Tennessee. The National Weather Service warns severe storms will continue throughout the region today.

And some Ukrainians who have been living in the U.S. here legally got an email this week telling them to leave. The claim from the Department of Homeland Security was that it was an error. They said in that erroneous email that those Ukrainians had just seven days to get out of the country and ended with, quote, "The federal government will find you if you try to stay." Overnight, President Trump confirmed that China put the kibosh on a deal to sell TikTok. China changed the deal because of tariffs.

If I gave a little cut in tariffs, it approved that deal in 15 minutes, which shows you the power of tariffs. White House is extending the deadline for TikTok to be sold or banned for another 75 days. Here is Ovechkin. Shoots! He scores! He scores! Number 895!

And Alex Ovechkin breaking Wayne Gretzky's all-time goal scoring record. 39-year-old Washington Capitals star notching the 895th goal of his NHL career last night in a 4-1 loss to the New York Islanders. And you gotta see this. Cows swept away in floodwaters in Brazil. This is video captured by residents who were forced to climb on their rooftops to escape the rising waters. Hundreds of people have been displaced because of those heavy rains.

Ahead on CNN this morning, the government faces a deadline tonight to return a man who had been deported to a prison in El Salvador. Why the Justice Department is now placing one of those lawyers on leave. Plus, every aspect of America's economy feels the impact of these tariffs. How some farmers are preparing for history to repeat itself from Trump's first term. And good morning, Cincinnati.

You're dealing with some major flooding right now and the National Weather Service expects the Ohio River to crest this morning. We're going to keep an eye on things there. With tariffs, we could see those prices go up, which could actually help the domestic grass-fed beef industry. It's good and bad, right? Because we get a higher price for the animals that we sell in that way. But it's also bad because how much more beef will people eat if it gets so expensive?

Farmers across the country are playing a game of wait and see to find out just how President Trump's new sweeping tariffs will impact them. Later this week, China's retaliatory tariffs on U.S. imports are set to go into effect, potentially harming one of the farmers' largest markets. Trump's Agriculture Secretary says the White House is considering aid to farmers who are impacted.

We will make sure that we have the funds in working with the senators and working with the appropriators that we can do what we did last time, which I think Secretary Perdue last time spent about $25 to $28 billion to mitigate some of the fallout from the last tariffs for the short term. The long term, the tariffs worked.

Joining me now, Bob Kylan. He's the vice president of the North Dakota Farmers Union. Bob, thanks for getting up early with us, though I suspect that's not such a big deal to you. Welcome to CNN This Morning. Thanks for having me. As the secretary just mentioned, the Trump administration did give out emergency funding to support farmers struggling due to tariffs the last time around. It was $23 billion. Is that something you're going to need again?

Most likely we will need to have some support. We would rather have it come from fair markets and just farm and sell our crops on a decent market, but those have gone away again.

Did it work last time? I mean, you at the time when CNN reached out to you, you talked about losing $400,000. Can you talk about whether those subsidies actually made a difference? And because they think that'll kind of quiet things down if they bring them up again. Well, we got 17 cents a bushel aid that time, and we lost about $5 a bushel off of our grain. So

It didn't solve a lot of the problems that led us skimp by. Sonny Perdue had soybeans, so soybeans got $1.28 a bushel. It just depends on who sets the program up. We spoke to one of our affiliates, actually spoke to a farmer who is a little more hopeful about what these tariffs will do for his business. I want to play that and get your reaction. For farmers themselves, it's a good thing.

Specialty crops are pretty much everything that you find in the produce aisle of your grocery store. All of those products are grown here in the States, but we're competing against foreign competition that just floods the market. Bob, can I get your understanding or response to that? Well, that might be true in some of the specialty markets where they sell in grocery stores, but

We're in production agriculture up here. We raise thousands and thousands of acres of corn and soybeans and wheat and other products. And we export just about half of what we raise in the United States. So that's not true in our situation because we lose these markets. We don't get them back. And when it comes to our grain, I don't know if

Many people know this, but on a $5.99 loaf of bread, the farmer's share that we get is 13 cents. So what happens in the grocery store and what we get in our markets is a totally different thing. Corporate America handles everything.

most of the profits in farming and everyone who's involved in agriculture is making record profits except for the farmers. We're kind of held down to almost surf levels.

just barely getting by. Held down to surf levels. You know, Bob, I just want to ask you one more question, which is the last time we talked, you talked about the concern of more farms going out of business. And what we've heard from the Trump administration is to wait, to be patient. Things will get better over time. Do you think a generation of farmers will survive this president's policies? Well, there's people in the position that if they

can't get an operating loan to put in their crop. They're not going to be able to put in a crop to pay off their debt. So I don't know what weighting is going to help them. And you've got farmers that are or have everything paid for and they don't know if they want to go into another crop and put all those input costs in and not get back any of the money or lose money on it. Why not just sell your equipment and get out of it? Are you doing OK, Bob? I mean, what has this been like?

We're hanging in there, you know, but we're not making any money. We're using up some of our assets and stuff, and it's not fun. We haven't recovered from the last tariffs that the president put on. We haven't gotten them markets back yet, and now he's picking on Canada and Mexico and China, which are by over 50% of the products that we raise.

Bob Kylan, Vice President of the North Dakota Farmers Union, thanks for being with us this morning. Thank you. Coming up on CNN this morning, RFK Jr. with some advice for parents as a second death from measles is reported in the state of Texas. Plus, Israel's Prime Minister meeting with President Trump today. One of the topics will be tariffs. HGTV's Toughest Renovation Competition is back.

Two teams of Rock the Block vets take on two teams of rookies outside Salt Lake City, Utah. Four identical houses. One epic showdown. All I know is we've got huge homes. And each week, their design skills will be pushed to the limit. But in the end, the team that adds the most value will win. Are you ready? Rock the Block season premiere April 14th at 9 on HGTV. Stream next day on Max.

It's simple economics, okay? If the stock market goes down and down and down and down and down, that means there's nowhere to go but up or perhaps further down. And global markets continue to plunge this morning following last week's wipeout on Wall Street. Good morning, everybody. I'm Adi Cornish. I want to thank you for joining me on CNN this morning. If you're getting ready, it is half past the hour here on the East Coast. And here's what's happening right now.

Stocks on pace for another tumble. U.S. futures remain in the red this morning following President Trump's aggressive tariffs last week. More tariffs are set to go into effect on Wednesday. And rising river levels forcing people to leave their homes in Kentucky. Some residents saw water up to their windows. In Frankfort, the mayor is warning the river there could crest at historic levels today.

President Trump and Israeli Prime Minister Benjamin Netanyahu meeting this afternoon at the White House. They're expected to talk about the new tariffs imposed by Trump on Israel, as well as the ongoing hostage negotiations with Hamas and joint efforts to counter Iran and its proxy network.

And a second child in Texas has died in the measles outbreak spreading across the U.S. More than 630 cases reported in 21 different states, with the majority of those in Texas where nearly all cases were of unvaccinated people.

Health Secretary and longtime vaccine skeptic Robert F. Kennedy Jr. traveled to Texas to attend the child's funeral. Faced with questions about his handling of the outbreak, he posted on social media, quote, the most effective way to prevent the spread of measles is the MMR vaccine. Joining us now, Dr. Dhruv Kular, professor of health policy at Weill Cornell Medical and contributing writer for The New Yorker. Welcome to Siena this morning. Thanks for being with us. Thanks for having me.

So there's some new analysis that finds declining rates for the first dose of the measles in children, meaning fewer people are getting their kids vaccinated. Can you talk about what's going on there?

Absolutely. So, you know, the most important thing that people should know about measles virus is that two doses of the vaccine are more than 97% effective in preventing infection. The first dose is usually given around 12 to 18 months on the second dose around five years. You need about 95% of a community to be vaccinated to get something called herd immunity when it makes it very difficult for the virus to spread even to unvaccinated people.

What we've seen over the past couple of years, however, is that vaccination rates have been falling. And so even three or four years ago, you had 95, 96% of most kindergartners in the United States being vaccinated. That number is now down to 92%. And that's when you can really see the virus spread, particularly in these pockets of the country that hit even lower rates of vaccination like West Texas.

The backlash to vaccination after the pandemic in a way kind of got us, RFK Jr., a longtime anti-vaccine skeptic. Can you talk about the changes that have been made under his tenure at HHS that are affecting this outbreak?

Well, Adi, as you know, Secretary Kennedy has finally acknowledged that the most effective way to prevent the spread of measles is through vaccination. But in most people's estimation, that is four months too late. We've had this virus spreading, particularly in West Texas, but not only in that state for the past four months. And as you note, this has been the second death that we've seen. An eight-year-old child died last week. A six-year-old child died earlier this year. Both of those children were not vaccinated. Every death

is really a tragedy, but not only a tragedy, it's a preventable tragedy. And so people should know that in the year 2000, measles had been effectively eliminated in the United States. And now we have this enormous outbreak where more than 500 people in Texas, 600 people at least across the country have been infected in disparate contexts.

Last year, all of last year, there were only 285 cases across the entire country over the entire year. In the first four months of this year, we have at least 600 cases in this country. And so this has really been a huge step backwards, and we need a really effective and coordinated public health response to address it. You know, a reporter asked President Trump about his concerns about the measles outbreak after that second fatality. Here's what he said.

It's so far a fairly small number of people relative to what we're talking about. Something that people have known about for many, many years. I mean, measles has been, you know, this is not something new. Dr. Kular, I hear this a lot, like, don't make such a big deal out of this. It's just one or two, which, of course, to those families out there that are suffering, that means a lot. But how do you respond to people who are minimizing what we're looking at?

Well, it's not a small number of people. As I mentioned, this is the first measles death that we've had in a decade in the United States. And for every death, we know that it is preventable.

This is one of the most infectious pathogens on the planet. So it's estimated that in an unvaccinated population, every person who has the virus will spread to at least 15 other people. So that's incredible levels of infectivity. And the virus can linger in the air for hours after a person has left the room. And so someone can be in a room, be breathing or sneezing, and then someone else can enter that room hours later and pick up the virus.

So the virus typically causes things like, you know, red rash, a high fever, watery eyes, cough. But about one in 10 children who get the virus will go on to develop an ear infection. About one in 20 will go on to develop pneumonia. And sadly, about one in a thousand will develop encephalitis, brain damage and even death. Will the cuts to these departments affect the monitoring of this outbreak, our ability to deal with it?

Absolutely. And so we've seen about 20,000 employees of the Department of Health and Human Services being fired or asked to resign or leave over the past few months. And that's a reduction force from 82,000 to 62,000. That includes thousands of jobs at the CDC, thousands of jobs at the FDA, the NIH, all

All these agencies come together to deliver our public health response in this country. And by doing this, we're really weakening our ability to respond to immediate-term threats, but also long-term threats as it relates to infectious and chronic disease. - Dr. Kuller, professor of health policy at Weill Cornell Medical College, thank you.

Today is the deadline for the Trump administration to return a Maryland father who had been sent to a prison in El Salvador. Kilmar Abrego Garcia was deported last month in what ICE calls an error. Now the Justice Department is placing one of its own lawyers on leave after he publicly expressed misgivings over the case. The DOJ attorney said he was frustrated by his inability to answer the judge's questions. And then here's what the attorney general said about that.

I firmly said on day one, I issued a memo that you are to vigorously advocate on behalf of the United States. Our client in this matter was Homeland Security, is Homeland Security. He did not argue. He shouldn't have taken the case. He shouldn't have argued it if that's what he was going to do. He's on administrative leave.

My group chat is back and Errol, I want to just take on what Pam Bondi said just then because we've seen a lot of lawyers representing the administration who sound baffled or uninformed and judges have pointed that out as much.

Yeah, look, you are required to be baffled. And if you are baffled and uninformed, you are required to tell the court that. The reality is you have an oath of office. You're an officer of the court. If you don't have the facts and the law on your side or if there's an important material point on which you are not clear, you are absolutely ethically and legally required to say so. And so Pam Bondi's memo doesn't change that. And

and she can fire all the lawyers she wants, but if they don't have a coherent policy or if there are facts that are just not known about how this mistake was made, she can't fire her way into generating those facts. And I think we're gonna find that out over time. - Steven, first you had the administration frankly joking about it, saying, "Oops." Now they're saying it's a clerical error. This person had legally protected status and now he's in a supermax prison and they're claiming they can't get him back.

uh... what like why not and frankly uh... can we trust this administration when they say that it's revealing that the attorney general is taking action against lawyer in the case that tried to square facts as error was saying that can be squared is not fulfilling the orders of the judge to bring mister garcia back to the united states uh...

Simply put, the administration doesn't want to bring him back to the United States. Its harsh form of immigration enforcement is at the key of its agenda. It's one of the few areas where the president has positive approval ratings on immigration more generally.

if they were to act on the judge's orders that would risk unravelling quite a lot of this policy. I think what they're trying to do is appeal this all the way through the courts. Eventually they want to get to the Supreme Court but the facts show that Mr Garcia, although he was accused of being a gang member only in a bail hearing

five or six years ago, there is very little evidence that he is. But the problem the administration has is that if it acts on this case, it opens the floodgates to many cases. And a lot of lawyers who are acting for people who are caught up in this enforcement are

a warning about the lack of due process in many of these cases jerusalem does this become a case to rally around you have garcia's wife speaking out you have more people in their community speaking out because fundamentally he is not a gang member he did not do anything wrong yes i mean we see in the past that cases like this can really galvanize action because

you know if you have someone who is sympathetic with us really not much evidence that they're a gang member criminal i mean the american people are pretty positive on deporting criminals but what we're seeing i mean there's a sixty minutes uh... report that show that seventy five percent of the venezuelan sent to the el salvadorian prison have no evidence of any criminal history and once that

becomes known, I think that it's going to take a lot of effort for the administration to keep Americans okay with this. This has happened in the past. There's a case of Mark Little several years ago where he was deported. He's an American citizen. He was born in North Carolina and was literally pushed over the US-Mexico border with $3 in his pocket and a prison jumpsuit because there was an administrative error that had marked him as someone else. He spent

over a hundred days wandering through Central America, was imprisoned in Honduras, eventually has to be returned, and a court case ends up awarding him over $100,000 after he sues. So this is something that's happened before. It spurred a lot of action. This was something the ACLU got involved in. So cases like this, there are many more instances of the Trump administration deporting someone who legally immigrated here.

I want you guys to stick around. We have more to discuss. Also coming up on CNN this morning, we're going to keep talking about the president's trade policy because it's shaking the world. Asian markets on a downward ride overnight. Will Wall Street see more of the same? Plus, she helped slaves escape during the Civil War. Now the Trump administration has scrubbed her face from a government website. And I don't think that

policy certainty is going to come for at least a little while. So I think we are in for an uncertain period.

Okay, so that tariff uncertainty, it's been rocking investors all around the world. So take for example in Taiwan and South Korea, trading had to be halted to prevent panic selling. In Japan and China, markets also trending down. Japan's prime minister told his country's parliament that he's actually going to reach out to the U.S. to cut tariffs, but he warns this won't be fixed overnight.

We must explain to them clearly that our country has done nothing unfair to the United States. Joining me now to discuss is CNN's Mark Stewart. He's in Beijing with the latest. Mark, we just heard the idea that people want to make some kind of change or deal. What are we actually going to see from the Chinese so far?

Well, right now, as far as a possible deal from the Chinese government, that just does not seem to be on the table. China has been very firm with its talking points. We just had a briefing, in fact, around three hours ago here in Beijing. Let's listen to what a Chinese government official had to say.

The United States, under the name of reciprocity, practices hegemony, sacrificing the legitimate interests of other countries to serve its own selfish interests, placing America first above international rules. There is a lot of anxiety and uncertainty, and the Chinese government, at least for its part, did not give any kind of roadmap for the future. And that's why when we look at these numbers, we are seeing very significant declines. Just to give you some context, normally,

If we see losses of 1% to 2% in Asia, that's seen as a big deal. The losses that we have seen today are much greater. So, for example, Hong Kong down by more than 13%. The Shanghai Composite here in China down more than 7%.

The Nikkei, which we heard from the Japanese prime minister not too long ago, as well as the Kospi and Seoul, also down. These are big centers of commerce here in Asia, very big in the auto industry. And whether you are on Main Street or Wall Street, people are craving some kind of certainty. In fact, if you go to CNN.com, we have what's known as the Fear and Greed Index.

It looks at a number of components to tell us exactly how people are feeling. Right now, as you see there, it's at extreme fear. One year ago, it was neutral. So, Adi, until we get perhaps some more guidance from government leaders here in Asia as to what will happen next, where things will go, it may be some very rough days of trading here in Asia, but also globally.

At CNN's Mark Stewart in Beijing. And I want to move here to the U.S. because markets are going to open in just a few hours. And after closing last week with two straight massive sell-offs, futures are still trending down. Some of the president's top trade advisors spent the weekend trying to reassure investors.

The market will find a bottom. It will be soon. And from there, we're going to have a bullish boom. And the Dow is going to hit 50,000 during Trump's term. The S&P 500 is going to have a very broad-based recovery. And wages are going to go up. Profits are going to go up. And life's going to be beautiful here in America. Trust in Trump.

Joining me now to discuss Robin Farzad, business journalist, host of Full Disclosure. Welcome back to the show. And let's start with those comments, right, about hitting the bottom and that going to spur some change in people's lives. What do you make of how they're trying to sell this?

It's a dream scenario for them because you can bridge this chasm between capital and labor, which has always been kind of anachronistic. Either you're having stock market gains or you're having job gains. In this world, almost Pollyannish world, you can have both as long as we adjust and we bring the jobs back and then the profits are made, quote unquote, more legitimately with American jobs and American domiciled profits.

It's interesting because the American Enterprise Institute was basically publishing an op-ed saying this fixation on trade deficits, that basically we should not wish for American workers to return to the days of sewing tennis shoes together in factories. Is that what we're talking about when we talk about what the administration is trying to do?

Yeah, I want them to conjure up this idea of an ideal US factory job for me. What is it? Where was it last? I mean, you could pick up a cover of Life magazine in the early 1970s with the bored factory worker. A lot of those jobs have left. A lot of Americans would not want to take those jobs at minimum wage or minimum wage plus a dollar or two levels. You're already having difficulty filling restaurant and hospitality jobs at $15 to $20 an hour. So

show me i mean more than notionally what would that look like and how quickly could you bring that back i mean these people talk about dao and s p 500 targets when we know it takes years to bring a factory online right and in the meantime we're hearing from our viewers here at cnn who have real mixed response to what we're dealing with um who are some of them finding it's going to cause them to struggle while others are saying look i voted for trump i'm not too concerned um and

then the flip side. If your washer goes out, you know, that's $300. That's a struggle. Robin Farsad, thank you so much. And tell us what you're going to be looking for in the next day. I'm looking for market reactions and what the cry uncle point is. Can he really, you know, he went golfing over the weekend. And that's a kind of a negotiating tactic. You guys want me, you know how to reach me. Come to Mar-a-Lago, let's make a deal. It's very much trying to, I don't think it's a gaslighting, but it's a tactic.

Whether it's successful, let's see if the market forces his hand. And if you're crying uncle, CNN wants to hear from you. Are you making changes to how you live or shop based on tariffs? I want you to take a minute, scan this QR code on the screen because it's going to take you to CNN online where you can actually tell us all about it. We're going to keep an eye on that inbox. Your response could end up on our site or, of course, here on CNN this morning.

It is 52 minutes past the hour. Here's a couple more headlines, things you need to know to get your day going in our morning roundup. Japan battling a rice crisis. The government now dipping into its strategic reserves to lower prices for the country's most important food. In recent years, bad weather, heat waves, supply chain issues have led to people panic buying rice. The average price a bag has gone up 55 percent in two years.

And a quote and a photo of abolitionist Harriet Tubman removed from a national parks web page about the Underground Railroad. It's one of several notable changes to government websites under the Trump administration. In fact, several references to enslaved people and the Fugitive Slave Act of 1850 were also scrubbed.

UConn on top of women's basketball once more. Huskies winning their 12th national championship by trouncing defending champion South Carolina 82-59 on Sunday. It's UConn's first national title in nine years. The men's title, well that could be decided tonight. It's Florida against Houston with the Cougars seeking their first national championship ever.

So one more thing, President Trump will quote, probably leave the White House after he completes his current term in office. That's what Attorney General Pam Bondi is saying after Trump has indicated he may try to hold on to power and serve a third term. He's a very smart man and I wish we could have him for 20 years as our president, but I think he's going to be finished probably after this term. Probably? Well, the Constitution, we'd have to look at the Constitution.

My panel is back to discuss the Constitution, states it pretty plainly that he cannot. I want to make it clear, I don't want to be talking about this. Like, it feels like at all, you know what I mean? Jerusalem, but here we are. And why do you think this is worth paying attention to our nation's chief law enforcement officer?

You know, I also don't want to be talking about this. And I think, honestly, giving it too much legitimacy is propagating fear, potentially, in the American public. I do not believe that we're going to allow anyone to so clearly violate the Constitution

you can see the Trump administration really trying to push their luck with the courts repeatedly, but there's a difference between what they're doing now and what it would mean for Trump to try to run again on a third term. And I do think there's a large swath of American people that would just say, "We are absolutely not going to vote for someone to completely destroy the foundations of, you know, our democratic legitimacy."

But just to jump in there, Jerusalem, you said we. Stephen, who's the we, right? I mean, this is part of the reason why people keep putting this question to administration officials. Yeah. One person that does want to be talking about this is Donald Trump, because it allows him to create an impression that he's all powerful, that he's exceedingly popular.

I would say, however, that we do seem to be talking about this issue in somewhat of political isolation. Political factors have changed just in the last few days. You have Republicans on Capitol Hill who are increasingly concerned about the president's impact and those of his policies on the midterm elections next year. So it does seem rather premature to be thinking about him running for a third term in an election in 2028.

Errol, do you hear that? Do you see some stirrings of opposition or even just eyebrow raising?

Well, yeah, there's eyebrow raising. Look, this is this is fun talk and a bit of a distraction on one hand. I would caution everyone, though, to take us back to January 6th of 2021. We never thought that we would see an attempt to ransack the Capitol and overturn the results of an election. So with that caveat in mind, you have to keep in mind that you have to take this seriously.

And then finally, I'd say, look, Donald Trump has a lot of political success. It's not clear whether or not he has a successor. It's not clear whether or not Republicans do well when he's not at the top of the ticket. And I think some of this talk is in part a recognition that they're going to have a real serious political problem when he finally does step off the stage.

So as Trump's policies reshape America, Democrats are searching for momentum and a path forward. We want to talk about what's next for the left. And Senator Bernie Sanders joins Anderson Cooper to take questions in a CNN town hall. That's Wednesday at 9 p.m. Eastern right here on CNN. So, you guys, that's one thing I'm going to be keeping an eye on. I want to know what you're going to be keeping an eye on this week, Jerusalem.

Yeah, so I mean we talked about an immigration case in Maryland, but I'm keeping my eye on Andre Hernandez, who is a 31-year-old gay man who was deported. He has no criminal record. He's currently in the El Salvador jail, and they're fighting to get him back, so I'm really keeping an eye on what's going on there. And Errol, for you, anything you're watching in the days ahead?

Absolutely. My son just went back to school, going back to college from his spring break. A lot of other students are doing the same. This is traditionally when protests start to heat up. Of course, universities are under a lot of pressure now to crack down on campus protests. I'm going to be keeping an eye on whether or not that actually happens. Yeah.

Yeah, truly different environment and also many more restrictions and rule changes, I think, at campuses across the country. Stephen Colton, last word to you. You're always keeping an eye out on things that you're writing about for your columns. What are you watching?

There's two bills on Capitol Hill that would take back trade authority from the president. One in the Senate, to which seven Republicans have already signed up, and one in the House. I don't expect these to gather veto-proof majorities. Indeed, the one in the House may not be brought up by Speaker Mike Johnson at all. But I do think it shows increasing disquiet among some Republicans, especially centrists, those who are at the top of the list to lose their seats in the midterms.

about the domestic impact of the president's tariff policies. One other thing, Stephen, do you think we're going to see more world leaders coming to Trump as he has claimed they would?

I think you're going to perhaps see world leaders testing the waters on whether there's a deal. The problem is it's contradictory with the president's underlying goal, which is to transform manufacturing if he does individual deals with companies, which will perhaps improve slightly U.S. trade conditions, but will basically preserve the trading status quo that he's trying to destroy.

Thank you. I needed some clarification because frankly, we've heard so many different reasons for these tariffs that that's going to come into play in figuring out just what is the solution, just what does the president want to accomplish here? I want to thank my group chat for being here today. I want to thank you for waking up with me. I'm Adi Cornish and CNN News Central starts right now.

This week on The Assignment with me, Adi Cornish. There are reports of at least a dozen students and faculty who have been detained by federal agents. How does this happen? How can the government detain legal immigrants without charges? How is this affecting students and faculty at campuses around the country? And who is challenging the government over potential First Amendment violations for punishing people who say things that the administration labels a threat?

Listen to The Assignment with me, Audie Cornish, streaming now on your favorite podcast app.