logo
Jon Stewart Slams the Right for Downplaying Donald Trump's Widespread Tariffs: ‘We Are Not the World's Victims'

Jon Stewart Slams the Right for Downplaying Donald Trump's Widespread Tariffs: ‘We Are Not the World's Victims'

Yahoo08-04-2025

On this week's episode of 'The Daily Show,' Jon Stewart went after President Donald Trump for downplaying the consequences of his widespread tariffs, which has sent the global economy into a tail spin.
In a segment labeled 'Trade Wars,' in reference to the sci-fi classic 'Star Wars,' Stewart opened with a series of news clips outlining the effects of Trump's global tariffs, which officially go into effect Wednesday. They reported that the stock market has lost 'more than $6.5 trillion dollars in value' in response to the tariffs. One economist called the drop an 'economic armageddon.'
More from Variety
Jon Stewart Slams Trump for 'Considering the Option' of a Third Term in Office: 'Trying to Order Off-Menu From the Constitution'
Jon Stewart Jokes Trump's Defense Secretary Was 'Distracted by 'White Lotus'' When Accidentally Leaking War Plans to The Atlantic: 'Oopsie Poopsie'
Jon Stewart Slams Democratic Minority Leader Chuck Schumer for Voting to Pass Republican-Backed Spending Bill: 'What the F-- Happened'
'This turmoil could have lasting effects on the global economy, on everyday Americans, and most worryingly, the stock portfolios of members of Congress,' Stewart said. 'Mr. President, now is the time to soothe a worried nation!'
Stewart then played another news clip that detailed a social media post from Trump. The post read, 'Don't be Weak! Don't be Stupid. Don't be a PANICAN (A new party based on Weak and Stupid people!).'
''Panican?' The genius who gave us classics like 'Sleepy Joe' and 'Crooked Hillary' just shit out, 'You're just a panican?'' Stewart joked. 'How about 'hystericrats?' 'Repussicans?' How about 'cryin-tologists?' Did the overseas factory you had been sourcing your nicknames from get shut down during the tariff war?'
The late-night pundit then went after several of Trump's supporters in the media, who seemed unbothered by the stock market crash. Stewart played clips from Fox News in which the network reporters said things like, 'I would not worry at all,' and, 'You know what, I don't really care about my 401(k).'
'When did the right become so chill?' Stewart asked. 'Aren't you the 'Bud Light is turning my kids trans' folks? But economic meltdown and you're getting all philosophical?'
Stewart ended the segment on a more serious note, digging into Trump for blaming the rest of the world for the global economy that the U.S. essentially created.
'We continue to blame everybody else in the world that we designed and policed after World War II,' Stewart said. 'We're the richest country in the world, ever! We're not the world's victims. If we have inequalities in this country, that's on us. It's not a supply problem, it's not on fair trade for the most part. It's an investment and distribution problem. It's our fucking fault. And it's not saying we can't make adjustments and renegotiate things, but it didn't have to be this reckless. You killed the hostage and then went, 'Oh, ransom?''
Watch the entire segment below.
Best of Variety
New Movies Out Now in Theaters: What to See This Week
What's Coming to Disney+ in April 2025
The Best Celebrity Memoirs to Read This Year: From Chelsea Handler to Anthony Hopkins

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nikkei Down 1.3%, Dragged by Electronics, Auto Stocks
Nikkei Down 1.3%, Dragged by Electronics, Auto Stocks

Wall Street Journal

time24 minutes ago

  • Wall Street Journal

Nikkei Down 1.3%, Dragged by Electronics, Auto Stocks

0030 GMT — Japanese stocks are lower as geopolitical tensions escalate in the Middle East and uncertainty persists over U.S. tariffs. Electronics and auto stocks are leading the declines. Tokyo Electron is down 4.3% and Sony Group is 2.6% lower. Toyota Motor is down 2.5% and Subaru is 4.1% lower after President Trump said he might raise tariffs on imported automobiles. USD/JPY is at 142.90, down from 143.73 as of Thursday's Tokyo stock market close. Investors are closely watching any developments related to Iran nuclear talks and U.S. tariffs. The Nikkei Stock Average is down 1.3% at 37681.03. ( @kosakunarioka)

Live updates: Israel attacks Iran's capital with explosions booming across Tehran
Live updates: Israel attacks Iran's capital with explosions booming across Tehran

Associated Press

time26 minutes ago

  • Associated Press

Live updates: Israel attacks Iran's capital with explosions booming across Tehran

Israel attacked Iran's capital early Friday, with explosions booming across Tehran. The attack comes as tensions have reached new heights over Tehran's rapidly advancing nuclear program. Update: Date: 2025-06-13 00:54:47 Title: The Israeli official said Iran is posing three threats to the state of Israel Content: First, he alleged that the Iranian government is advancing a 'secret program' to develop nuclear weapons. The U.S. intelligence community assesses that Iran is not actively pursuing a nuclear weapon. Secondly, the Israeli official said, Iran has thousands of ballistic missiles. Finally, he said Iran has been distributing weapons and arms to proxy groups across the region, like Hezbollah and Hamas. Update: Date: 2025-06-13 00:52:03 Title: Iran halted flights at Imam Khomeini International Airport outside of Tehran, state TV says Content: Iran has closed its airspace in the past when launching previous attacks against Israel during the Israel-Hamas war. Update: Date: 2025-06-13 00:44:50 Title: Trump on White House lawn as explosions begin Content: As the explosions in Tehran started, President Donald Trump was on the lawn of the White House mingling with members of Congress. It was unclear if he had been informed but the president continued shaking hands and posing for pictures for several minutes. Earlier in the day, Trump said an Israeli attack over Iran's nuclear program was not imminent 'but it looks like it's something that could very well happen.' The U.S. has been preparing for something to happen, pulling some diplomats from Iraq's capital and offering voluntary evacuations for the families of U.S. troops in the wider Middle East. The White House did not have an immediate comment Thursday night.

How Home Depot got caught in the immigration raid crossfire
How Home Depot got caught in the immigration raid crossfire

Yahoo

time29 minutes ago

  • Yahoo

How Home Depot got caught in the immigration raid crossfire

Protests against immigration raids have been occurring nationwide this week, most notably in Los Angeles. Yahoo Finance Senior Columnist Rick Newman joins Market Domination Overtime with Josh Lipton and Julie Hyman to explain how the Trump administration's immigration policy is affecting the labor force and economy, and how companies like Home Depot (HD) have gotten caught in the crossfire. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Well, intensifying immigration raids this week have triggered protests across the country, particularly in cities like Los Angeles. That's where the National Guard was called in. And some companies like Home Depot are being caught in the crosshairs of President Trump's deportation efforts. For more, we want to bring in Yahoo Finance's Rick Newman, our political commentator, um, or, I should say crossroad, crossroads of politics and economy commentator. Sure. Call me anything, Julie. Okay. Um, I'll call you Rick. Um, so Rick, you know, we have seen, um, sort of a change in tack from the administration. Sort of the first wave, focusing on immigrants who were in the US illegally who had also committed other crimes, Right. to now doing more of a broad sweep of folks. They're going to Home Depot parking lots, right? Um, and they're, you know, this affects, as we've talked about with the economists before, certain workforces in particular. So what should we be watching? Yeah. I mean, that's the thing I'm thinking about is the parts of the labor force. Uh, migrant workers are a very important source, source of labor in construction. That's why this is happening at Home Depot, also in agriculture, retail, hospitality. Um, so what's happening now is Trump's immigration policy is now starting to touch the, uh, informal workforce and the informal economy, if you will. And I mean, there, there's a lot of reason to pay close attention to this because if you could just all at once take all the migrant workers out of the US economy, you would have a massive problem. I mean, this is a big source of workers. I mean, food would not get picked, um, projects would not get completed, homes would not get built. So it's starting. Um, I don't know what's going to happen, but if you look at why they're focusing on Home Depot, and of course, Home Depot, like almost any company, they want nothing to do with the controversy. They try hard, every company tries to stay as far away from this as they can, but um, a lot of contractors use Home Depot. Some of those contract workers shop at Home Depot for the stuff they need for projects. So, so the immigration authorities got the idea, let's go looking around at some Home Depots. And apparently, they are actually going into, um, some Home Depot outlets and places where they think they can, they can find some of these people. Um, there is actually a Reddit thread on, uh, you know, people who work at Home Depot saying, what do you do if you think ICE is coming into your location? This is not going to happen at every Home Depot across the country. And I think if the Trump administration were smart, maybe they would stop going into like retail establishments and find some other way to, you know, hit their numbers, but um, it's a problem. Yeah, and it's a problem, I think, like we can think about this from a business and economic perspective on, on a number of different fronts. I mean, the Wall Street Journal had a story looking at retailers, not just like a Home Depot, but food establishments that maybe are seeing a drop in traffic because people are afraid to shop in them because they're afraid a raid is going to come in. So you have that kind of effect on publicly traded companies potentially. You have the effect on unemployment numbers, which may not be the same. You, then maybe you have an effect on wages as well as we're seeing this situation play out. So there are a lot of potential repercussions. Right. Right. So, if I, I would guess that the strategy of the Trump administration, I mean, it has been reported that they want higher numbers. Um, so if you just went to farms and fields, um, where a lot of crops are picked, you would probably find tons of undocumented migrants. Do you want to do that? Um, do you want to, do you want to take everybody out of a, a field, I mean, it would be easy pickings, pardon the pun. Do you want to do that, though? But do remember, just aren't there some actual programs where people do come in seasonally legally, right? Yes, that's a, that's a different, yeah, that's a different thing. But we, we know that all of these things are happening. Right. Um, you could go to big construction sites and probably take half the workers off the job. Then what happens to the construction project? I mean, do you really want to do that? So I, what I detect is the Trump administration is dabbling with this idea of let's, let's interfere with business a little bit and see what happens. So if you're picking up five workers, you know, five-day laborers from a Home Depot parking lot, is that going to, um, show up in, you know, the GDP of Los Angeles? Probably not, um, but I'm trying to find contractors and I'm just starting to do a lot of this reporting, talk to them and see, is this affecting your business yet? Do you have a backup plan? Can you get workers from someplace else? This is not to defend, um, illegal immigration, but the fact is that these migrants are an important part of the labor force and you can't just take them all out of the labor force without any problems. All right, we'll keep watching. Thank you, Rick. Yeah. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store