Politics'Tariffs Are Taxes': CNN Anchor Kaitlan Collins Challenges Donald Trump's Economic Plan as Stock Market Continues to Crash and Burn
Kaitlan Collins called out Donald Trump for his economic plan.
Kaitlan Collins called out Donald Trump for claiming the tariffs on Canada and China are going to make small business owners "much richer."
The CNN anchor pointed out how "tariffs are taxes" and will ultimately make products skyrocket in price once they go into effect.
Kaitlan Collins said 'tariffs are taxes.'
On the Thursday, March 13, edition of The Source with Kaitlan Collins, the White House correspondent opened her show by saying the Trump administration is in denial about the warning signs that many see in the economy.
The CNN host told her viewers, "Inside the White House tonight, President Trump is shrugging off the growing pessimism over his expanding trade war, only digging in and becoming more defiant, as he’s now threatening some of his biggest tariffs yet."
She then played a clip of J.D. Vance telling Fox News host Laura Ingraham how the "fundamentals" of the economy are "actually quite strong right now."
Kaitlan Collins is the host of CNN's 'The Source.'
Collins pointed out how "that confidence, coming from the White House, is not really doing much, if anything, to calm the anxiety, as we see markets plunging again today, as the S&P is now in correction territory, meaning it’s down 10 percent from its recent high, less than a month ago."
"From my view at the White House today, up close and personal, the president and his aides aren’t sounding worried," she told her audience. "In fact, they sound just the opposite."
The anchor played another clip, this time of President Trump repeating how he's "not going to bend" and how small business owners are going to be "so much richer than they are right now."
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Donald Trump has threatened Canada and China with tariffs.
Collins ended the segment by reiterating to her viewers how "tariffs are taxes" and how "more often than not, we see a lot of businesses pass those on to consumers."
"So, it’s unclear how small businesses are going to get so much richer, as the president says," she continued. "That remains to be seen, as that plays out."
The stock market has continued to crash 50 days into Donald Trump's presidency.
The Dow Jones Industrial Average dropped over a thousand points on Monday, March 10, and it continued to slide all week as Trump’s trade policies and repeated refusal to rule out the possibility of an impending recession contribute to market unease.
As the Dow was plunging another 521 points on Thursday, Trump continued to preach about tariffs, speaking to reporters in the Oval Office and meeting with NATO Secretary General Mark Rutte.
Earlier this week, CNBC host Jim Cramer accused the president of "playing with fire" and potentially "manufacturing" a recession.
"Right now, the market is trying to tell President Trump that he shouldn’t be so rancorous and angry," Cramer argued. "And if he keeps ignoring that message, we could end up a helluva lot lower than where we are with stocks and with the economy."
