CNN’s regular broadcast was interrupted for breaking news about President Donald Trump’s tariffs.
The network’s News Central broadcast with John Berman, Kate Bolduan and Sara Sidner was airing on Thursday, August 7, when the breaking news alert came. CNN reporter Fredricka Whitfield delivered the news as she was filling in. She shared how Trump’s tariffs that have gone into effect today and how they are the highest since the Great Depression.
“President Trumps tariff threats are now an economic reality. Major American trading partners are now facing punishing taxes on goods they sell to the US and they are the highest in nearly 100 years now since the Great Depression,” Fredricka said. It comes after a Trump family member revealed the latest chilling symptom of his cognitive decline and revealed he is far gone.
“Today, the president is taking a victory lap saying, ‘Billions of dollars in tariffs are now flowing into the United States of America!’ But economists are warning that prices will now rise on popular products including alcohol, computers, Crocs, and toys. By one estimate, it could cost the average American family $2,400 a year,” she added.
Trump’s high tariffs on imports from various other countries kicked in on Thursday, August 7. The U.S. Customs and Border Protection agency began collecting the sweeping tariffs of 10% to 50% just right after midnight.
A broad assortment of items are going to be affected. The tariffs are being collected from European Union appliances to Chinese-made goods. More than 90 countries were hit with tariffs, with some countries being hit higher than most such as 50% from Brazil, 39% from Switzerland, 35% from Canada and 25% from India. Trump announced an additional 25% on Indian goods to be applied in 21 days because of the country’s purchase of Russian oil.
According to Yale Budget Lab, the average effective tariffs rates that consumers will face are the highest since the 1934 and after consumption shift, the average tariff rate will be the highest since 1935. That makes it the highest since Great Depression, which was between 1929 and 1941.
Trump had posted to his Truth Social account on Wednesday, August 6, before the tariffs went to effects and promising the good it’ll do on the economy.
“Reciprocal tariffs take effect at midnight tonight! Billions of dollars, largely from countries that have taken advantage of the United States for many years, laughing all the way, will start flowing into the USA,” he said in all caps.
When the tariffs kicked in, he wrote in all caps as well on his social media platform, saying, “Its midnight! Billions of dollars in tariffs are now flowing into the United States of America!”
It comes after a bizarre internet image exposed how Trump looks without his fake tan and iconic hairdo.
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