Post Reports: What Trump’s Tariff Whiplash Unleashed

Published April 10, 2025

Hosts: Martine Powers and Elahe Izadi
Guests: Aaron Blake (Senior Politics Reporter), David Lynch (Global Economics Correspondent), Kat Zakreski (White House Reporter)

1. Introduction: Swift Moves in the Oval Office

The episode kicks off with a surprising scene from the Oval Office where Michigan Governor Gretchen Whitmer, a Democrat, appears unexpectedly alongside President Donald Trump. This unanticipated appearance, which took place on a Wednesday afternoon, did not favor Whitmer as Trump was simultaneously discussing allegations of rigged elections and signing executive orders targeting his political opponents.

Aaron Blake [00:03]:
"It was a surprise guest in the OFOL office on Wednesday. It turned out she was standing there as Trump was not only talking about rigged elections, but was also signing executive orders that were targeting his political opponents."

David Lynch [00:37]:
"It looks like she's regretting some life choices."

Kat Zakreski [00:43]:
"It kind of reminds me of that meme of Homer Simpson shrinking into the shrubs."

A spokesperson for Whitmer clarified that her presence did not endorse Trump’s actions or statements during the event.

2. Trump's Tariff Announcements and Partial Retraction

The core of the discussion revolves around President Trump's aggressive tariff strategies, initially announced on April 2, and their subsequent revision a week later.

David Lynch [02:25]:
"He announced a two-part plan: a 10% across-the-board tariff on imports totaling $3.3 trillion annually, and reciprocal tariffs on dozens of individual countries, some reaching up to 50%."

These tariffs represented a significant spike from the previous average of 2.5%, marking the most substantial increase since the Great Depression. Trump justified these measures as responses to unfair trade practices, including non-tariff barriers and subsidies that disadvantaged American industries.

However, the aggressive stance led to market turmoil, notably in the bond markets, prompting Trump to pause the reciprocal tariffs for 90 days while maintaining the 10% levy on all imports.

Aaron Blake [04:32]:
"It's a retreat to some extent from the tariffs that Trump initially announced, but the ones that remain are very significant."

3. Market Reactions and Economic Implications

The immediate aftermath of the tariff announcement saw significant market volatility, sparking fears of a looming recession.

Kat Zakreski [07:04]:
"Trump was responding to panic and concerns about a recession creeping in."

David Lynch [09:26]:
"The bond market started going haywire, leading to rising yields that could precipitate a financial crisis if the treasury market seizes up."

Aaron Blake highlights the potential long-term impacts, noting that high tariffs could ultimately burden American consumers with higher prices and disrupt the financial system's stability.

Aaron Blake [08:00]:
"Probably a likely outcome [is a recession]."

4. Political Repercussions and Republican Resistance

The tariff strategy has not gone unchallenged within the Republican Party. Influential figures voiced skepticism and concern over the economic fallout.

Kat Zakreski [19:09]:
"Conservative influencers like Ben Shapiro and Elon Musk criticized the tariffs, describing them as a 'nuclear option.'"

David Lynch [08:57]:
"Republican senators expressed worries about domestic companies being crushed by the tariffs, highlighting limited tolerance for economic pain among the Senate."

The internal party discord reflects a broader unease with Trump's methods, suggesting potential checks on his power as more members question the administration's approach.

5. Influence of Tech Billionaires and Conservative Voices

Elon Musk, a prominent White House advisor and influential tech billionaire, openly criticized Peter Navarro, Trump's trade advisor, over the tariff policies.

Kat Zakreski [20:54]:
"Elon Musk called Peter Navarro a 'moron,' reflecting significant dissent within Trump's circle."

This public backlash from key business leaders underscores the challenges Trump faces in rallying support for his aggressive trade measures, highlighting fractures within his advisory ranks.

Aaron Blake [21:45]:
"He wasn't like, couched as like, oh, I don't know about this idea. It was like, no, the guy behind this is a moron and dumber than a bag of bricks."

6. Supreme Court Ruling on the Alien Enemies Act

Another pivotal topic discussed is the Supreme Court's recent ruling on Trump's attempt to deport individuals under the Alien Enemies Act without due process.

Kat Zakreski [27:11]:
"The Supreme Court upheld the procedural aspects but emphasized the necessity of due process for those facing deportation."

While the administration celebrated the decision as a procedural victory, the court's insistence on due process presents a potential stumbling block for future aggressive immigration policies.

Aaron Blake [28:08]:
"The Supreme Court indicated that there needs to be some due process here, and the administration was using this law to avoid that."

Subsequent actions by federal judges, including a Trump-appointed judge in Texas pausing deportations pending further legal processes, suggest the ruling may impede the administration's immigration agenda.

7. Conclusion and Ongoing Developments

As the episode wraps up, the hosts emphasize that the saga of Trump's tariffs is far from over. The remaining tariffs are historically significant, and the administration is under pressure to negotiate beneficial deals within a tight 90-day window.

David Lynch [25:10]:
"Trying to negotiate bespoke trade deals with 50 or 60 countries over the next 90 days is going to be a heavy lift."

Additionally, the episode previews upcoming discussions, including an interview with Congressman Jeff Hurd from Colorado, who is at the forefront of efforts to reclaim tariff powers from the president.

Aaron Blake [30:06]:
"Stay tuned for tomorrow's episode where Congressman Jeff Hurd discusses efforts to take tariff powers away from the president."

Key Takeaways

• Aggressive Tariff Strategy: Trump's initial 10% across-the-board tariffs and high reciprocal tariffs have sparked significant economic and political backlash.

• Market Turmoil: The tariffs led to bond market instability, raising fears of a recession and impacting consumer loans and mortgages.

• Political Fractures: Even within his own party, Republicans are expressing concerns over the economic implications of the tariff policies.

• Business Leader Dissent: Influential figures like Elon Musk have openly criticized key administration advisors, indicating internal conflicts.

• Judicial Pushback: The Supreme Court's rulings emphasize the importance of due process, potentially hindering Trump's aggressive immigration policies.

• Ongoing Negotiations: The administration faces the daunting task of renegotiating trade deals within a constrained timeframe amid widespread uncertainty.

This episode of Post Reports provides an in-depth analysis of the multifaceted repercussions of Trump's tariff policies, blending economic insights with political dynamics and judicial developments. Listeners are left with a comprehensive understanding of the current trade climate and the challenges ahead for the Trump administration.

Produced by: Rennie Svirnofsky, Ted Muldoon, Laura Benjamin
Mixed by: Sean Carter
Edited by: Rena Flores, Lucy Perkins, Anna Ashbrenner
Host: Aaron Blake