During a White House press briefing on Monday, White House Press Secretary Karoline Leavitt was asked about Trump's planned reciprocal tariffs that will take effect on April 2nd.
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NewsTranscript
00:00Sure.
00:01Edward.
00:02Yeah, thanks.
00:03Caroline, on the economy.
00:04So after mostly a down week last week in the economy, you know, you've been very vocal
00:09as well as other Cabinet members about how we're in a transition and about how, you know,
00:14this economic transition is a plan, a long-term plan for tariffs on this.
00:18How concerned is the President that the markets and Americans, for lack of a better term,
00:21will freak out over these tariffs and be concerned about a long-term plan?
00:25Sure.
00:26I've been asked this question and answered this question respectfully, Edward.
00:30We are in a period of transition.
00:32The President has made that clear.
00:34He also has made his belief in tariffs and what they will do for our great country clear,
00:39restoring wealth back to our country.
00:40And if you look at the President's first-term economic formula, massive deregulation, tax
00:45cuts, lowering the cost of living with an energy boom, which the American people can
00:49expect soon.
00:51Wall Street and Main Street should both be assured by what President Trump did in his
00:55first term.
00:56It's the exact same formula.
00:57In fact, I would argue it's even better this time around.
01:00And if you look at some of the economic indicators in the last week, the latest CPI report last
01:05week beat expectations.
01:07Inflation is cooling.
01:08Core inflation dropped for the first time in four months.
01:11The national average of the price of gas is down $0.42 from one year ago.
01:15And there was also a new report out this morning about wholesale egg prices.
01:19They continue to fall.
01:21A dozen eggs are now $3.10 cheaper since January 24th.
01:26First, that's a 47 percent decrease overall.
01:29So I think the American people do have great reason to be optimistic about this economy.
01:33And as I've said repeatedly, it continues to be true.
01:36The administration has a whole-of-government effort to fix the economic mess created by
01:41Biden.
01:42So the President has pointed to that April 2nd tariff deadline, so to speak.
01:46Is the tariff back-and-forth sort of done now?
01:49Or are we just all looking towards April 2nd?
01:51Well, I think the President would tell you that all options are always on the table,
01:56and he's always ready to respond if he feels the United States is being unfairly treated
02:01by our allies and also our competitors around the world.
02:04But yes, the April 2nd day is a big day for the country, as the President has said.
02:10Reciprocal tariffs will go into effect.
02:11We'll have more details on that as the date nears.
02:14But our entire trade team – Secretary Lutnick, Secretary Besant, the Vice President – has
02:19been quite involved in these talks and discussions as well about what that will look like.
02:24And the President, as you always do, you will hear from him directly on it.