The Tonight Show Starring Jimmy Fallon: Trump Tariffs Wreak Havoc on Prices and Trigger Trade Wars with Canada, Mexico, and China

Episode Release Date: March 5, 2025
Guests: Amanda Seyfried, Joshua Jackson
Host: Jimmy Fallon
Produced by: NBC Universal

1. Opening Monologue: Trump's Presidential Address and Tariffs

Timestamp: [00:05] – [03:56]

The episode kicks off with Jimmy Fallon addressing the aftermath of former President Donald Trump's first presidential address to Congress. Fallon humorously recounts Trump's unusual performance alongside J.D. Vance, where they "held hands and sang a medley from Wicked," describing the event as a "welcome back party for Trump, Republicans, and measles."

Fallon transitions into the main topic: Trump's recent implementation of tariffs on Canada, Mexico, and China. He explains, “Trump’s tariffs are expected to raise car prices by as much as $12,000 a vehicle” ([02:30]). This move is part of Trump's strategy to make imported goods more expensive, thereby making domestically produced items seem cheaper. Fallon sarcastically notes, “Even Netflix plans to raise their subscription price, but that has nothing to do with the tariffs” ([02:45]).

The host highlights the broader economic implications, mentioning that imported fruits, vegetables, scrap metal, batteries, and components used in Elon Musk’s ventures will also see price hikes. He quotes Canadian Prime Minister Justin Trudeau, who called Trump's tariffs “very dumb,” leading Canada to impose retaliatory tariffs against the U.S. ([03:15]).

2. Consumer Impact: Vehicle Recalls and Retail Responses

Timestamp: [03:56] – [07:58]

Fallon shifts focus to the automotive sector, discussing a significant Kia recall affecting over 130,000 vehicles due to an engine issue that could cause loss of motive power or even fires. Reacting to this, Fallon quips, “Oh, man. I drive a Kia. I'm sorry about that, Tree. It's okay” ([04:03]).

Further complicating the automotive landscape, Volkswagen announces a recall of more than 60,000 vehicles. Amanda Seyfried adds humor to the situation, lamenting the inconvenience with, “What are the chances, man? How am I supposed to get around?” ([04:16]).

Tesla is not spared either, with a recall of 376,000 electric vehicles. Fallon humorously resigns, “You gotta be kidding me. I'm sorry, Tariq. It's okay. I know what I'll do. I'll borrow my cousin's car” ([04:35]).

Major retailers like Target and Best Buy respond to the tariffs by planning to increase their prices. Fallon mocks Best Buy’s reaction, saying, “Did you just call us a major retailer?” ([04:45]).

3. Comedy Segment: Do Not Read List

Timestamp: [07:58] – [12:49]

In a lighthearted interlude, Fallon presents his “Do Not Read List,” featuring a collection of questionable books. Each selection is met with comedic critique:

• "The Complete Idiot's Guide to Improving Your IQ": Fallon jokes, “Step one, stop calling yourself an idiot” ([07:58]).

• "RVer's Guide to Dump Stations": He sarcastically remarks, “It stinks” when revealing its bestseller rank of number 47 ([08:13]).

• "Gatsby" by Ernest Vincent Wright: Fallon pokes fun at the attempt to write a novel without the letter 'E', noting its flaws and humorous execution ([08:26]).

• "Gabe's Cookbook": He quips about the lack of actual recipes, saying, “There's no photos. There's no list of ingredients, no instructions or even real recipes” ([08:55]).

• "Horrible Jobs in Colonial Times": Fallon humorously reacts to the bizarre job title, “Filthy knothole” ([09:30]).

• "Orchid Growing for Wimps": He jokes about the book’s co-author, suggesting one of them didn’t put himself in the title ([09:45]).

• "Memorable Balls": The segment concludes with a laugh about the misleading title, which is actually a filthy history book ([11:00]).

4. Interview with Amanda Seyfried

Timestamp: [12:49] – [25:54]

Amanda Seyfried joins Fallon to discuss her Emmy and Golden Globe-winning performance in the new limited series Long Bright River. They delve into various aspects of her personal and professional life:

• Career Highlights: Seyfried shares excitement about her upcoming musical projects, including a new musical set to release by the end of the year ([13:14]). Fallon encourages her to elaborate, leading to playful banter about potential roles in Mamma Mia 3 ([14:02]).

• Musical Talents: They discuss her experience with musical instruments. Seyfried reveals her background in piano and clarinet, humorously acknowledging the challenges Fallon faced with the clarinet as well ([14:16]).

• Personal Life and Challenges: Seyfried opens up about losing her childhood home to a wildfire, expressing both devastation and optimism for rebuilding a new home for her and her daughter ([20:19] – [22:09]). She reflects poignantly, “Every floorboard is a piece of my story” ([21:00]).

• Parenting and Interests: Seyfried talks about her daughter's obsession with the musical Wicked, sharing a sweet anecdote about her daughter’s favorite character, Elphaba ([22:12]).

• New Show Insights: Discussing Long Bright River, Seyfried describes it as a grounded crime show addressing the opioid epidemic and marginalized communities, highlighting the authenticity and importance of the narrative ([17:33] – [19:04]).

• Interactions with Co-Stars: She shares a humorous interaction with Cynthia Erivo, who once whistled on the show, making Fallon laugh about the challenge of following such talent ([23:16] – [23:36]).

• Professional Relationships: Seyfried mentions her long-standing relationship with Ryan Murphy, praising his imaginative writing style and expressing excitement about working together on Dr. Odyssey ([23:53] – [24:35]).

5. Interview with Joshua Jackson

Timestamp: [17:25] – [26:33]

Joshua Jackson joins Fallon to discuss his role in Ryan Murphy’s new series Dr. Odyssey and shares personal anecdotes:

• Role in Dr. Odyssey: Jackson elaborates on his character, a doctor navigating complex medical scenarios aboard a cruise ship. He humorously describes interactions with his on-set brother character, a duck, highlighting the show's quirky elements ([25:00] – [25:54]).

• Show’s Plot and Production: He explains that Dr. Odyssey features action-packed storylines, including a two-part adventure involving sharks. Jackson emphasizes the intensity and realism of filming, adding, “There’s a lot of blood, a lot of guts” ([26:01] – [26:33]).

• Personal Challenges: Jackson opens up about a tough year, including losing his childhood home in a wildfire, and reflects on the emotional impact of rebuilding ([20:16] – [21:17]).

• Character Relationships: He discusses his relationship with his character’s daughter and the dynamics of portraying a father figure amidst personal loss ([21:02] – [21:15]).

6. Closing Remarks and Final Thoughts

Timestamp: [26:33] – End

Fallon wraps up the episode by applauding Amanda Seyfried and Joshua Jackson for their compelling interviews and performances. He reiterates the premiere dates for their respective shows: Long Bright River on Peacock and Dr. Odyssey on ABC and Hulu. The episode concludes with Fallon thanking the guests and encouraging listeners to subscribe for the latest episodes.

Notable Quotes

• Jimmy Fallon on Tariffs:
  “Trump’s tariffs are expected to raise car prices by as much as $12,000 a vehicle” ([02:30]).

• Amanda Seyfried on Losing Her Home:
  “Every floorboard is a piece of my story” ([21:00]).

• Joshua Jackson on Dr. Odyssey:
  “There’s a lot of blood, a lot of guts” ([26:33]).

• Jimmy Fallon on Book Critique:
  “It stinks” referring to "RVer's Guide to Dump Stations" ([08:13]).

• Amanda Seyfried on Her Daughter’s Passion:
  “My four and a half year old is absolutely obsessed with you” ([22:20]).

Conclusion

This episode of The Tonight Show Starring Jimmy Fallon offers a blend of political commentary, consumer news, comedy, and in-depth interviews with Amanda Seyfried and Joshua Jackson. Fallon skillfully navigates through serious topics like Trump’s tariffs and their economic impact, while also providing levity with segments like the “Do Not Read List.” The guests share personal stories and insights into their latest projects, making the episode both informative and entertaining for listeners.