Podcast Summary: The Jim Acosta Show Episode Title: MSNBC'S Ali Velshi on Trump's Tariff Cave and Steve Schmidt Slams Fox Response to Market Turmoil. Plus Grass Roots Organizer Kristen Crowell
Release Date: April 9, 2025
Host: Jim Acosta
Guests: Ali Velshi, Steve Schmidt, Kristen Kral

1. Introduction and Market Overview

The episode kicks off with Jim Acosta highlighting President Trump's reversal on tariffs, which led to a significant market rebound. Acosta notes, "I'm looking at the Dow right now. It's up about 2,900 points" (00:00).

2. Trump’s Tariff Policy and Immediate Market Reactions

Ali Velshi delves into the unprecedented nature of Trump's tariff imposition, emphasizing its immediate impact on global markets. He states, "This is not the long game. This is the short game. And it's a stupid game" (03:12).

3. Analysis by Ali Velshi: Short-term Chaos vs. Long-term Strategy

Velshi critiques the administration's approach, arguing that unilateral tariff decisions are reckless and not part of any strategic economic plan. He warns, "You risk getting yourself into an unrecoverable spin for the entire world" (03:12).

4. The Role of Peter Navarro and Trade Policy Failures

Jim Acosta brings up Peter Navarro's influence on the tariff policies, highlighting Navarro's questionable credibility. Acosta remarks, "But he was... making these grand claims despite his questionable background" (07:31). Velshi adds, "China requires a hell of a signal. And by the way, China requires a hell of a signal" (03:12).

5. Market Implications and Economic Consequences

Velshi discusses the broader economic ramifications, including potential stagflation and the risks of either wrecking the U.S. or China's economy. He explains, "This is not stuff you're supposed to play with randomly" (04:13).

6. Media’s Response to Tariff Changes and Market Turmoil

The conversation shifts to the media's role, with Steve Schmidt critically addressing networks like Fox News for their handling of the situation. Schmidt asserts, "They have destabilized American democracy in a way that Soviet Russia could not" (34:02).

7. Steve Schmidt’s Critique of Media and Political Landscape

Steve Schmidt joins the discussion, delivering a scathing critique of both the Trump administration and the media. He states, "His theories are madness. And this will continue to get worse" (30:04). Schmidt emphasizes the media's failure to hold the administration accountable, labeling it as "unspeakable damage" (34:02).

8. Grassroots Movements and Fair Share America

Kristen Kral from Fair Share America is introduced, highlighting grassroots efforts to oppose tax breaks for billionaires and corporations. Kral shares poignant stories of individuals who would be adversely affected by the administration's policies, saying, "People are terrified and they're outraged" (52:35).

9. Upcoming Town Halls and Organizing Efforts

Kral details the organization's plans for a major rally at the Capitol, aiming to rally support against the GOP’s budget proposals that threaten essential services like Medicaid and SNAP. She states, "We are drawing a line in the sand" (50:45).

10. Closing Remarks and Future Plans

Acosta concludes by acknowledging the passion of his guests and emphasizing the importance of grassroots activism. He announces an upcoming town hall in Midtown Manhattan, aiming to foster community engagement and resilience against current political turmoil. Acosta reflects, "We have to have a little bit of faith... We don't make your bullshit our bullshit. That's the American way" (58:30).

Notable Quotes with Timestamps

• Ali Velshi (03:12): "When you play this type of game, you risk getting yourself into an unrecoverable spin for the entire world."

• Jim Acosta (07:31): "This was reported a few years ago that Navarro had this bizarre nickname, Ron Vera... he made this guy up."

• Steve Schmidt (34:02): "They have destabilized American democracy in a way that Soviet Russia could not... They are a societal cancer."

• Kristen Kral (52:35): "People are terrified and they're outraged because what this administration has done... They are morally outraged."

• Jim Acosta (58:30): "We don't make your bullshit our bullshit. That's the American way."

Key Discussions and Insights

• Unilateral Tariff Decisions: The administration's quick imposition and subsequent reversal of tariffs caused significant market volatility, reflecting poor strategic planning.

• Media Accountability: Criticism of major media outlets, especially Fox News, for failing to provide balanced coverage and inadvertently supporting the administration's agenda.

• Economic Impacts on the Public: Real-life stories underscore the human cost of policy decisions, particularly concerning healthcare and food assistance programs.

• Grassroots Mobilization: Fair Share America's efforts exemplify the growing public demand for economic fairness and accountability from political leaders.

• Future Political Landscape: Discussions hint at shifting political dynamics, with grassroots movements potentially reshaping party strategies and electoral outcomes.

Conclusions

The episode underscores the fragility of current economic policies under the Trump administration, highlighting the detrimental effects of abrupt tariff changes and the media's role in shaping public perception. Guests advocate for sustained grassroots activism to hold leaders accountable and ensure policies reflect the needs of ordinary Americans. The conversation calls for strategic, long-term economic planning and a more responsible media presence to navigate the nation's challenges effectively.

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