Apple CEO estimates tariffs could cost $900 million this quarter
CNN
[{'start': '0.033', 'end': '1.735', 'text': 'Apple CEO Tim Cook'}, {'start': '1.735', 'end': '3.436', 'text': 'is now saying just now'}, {'start': '3.436', 'end': '3.903', 'text': "that Trump's"}, {'start': '3.903', 'end': '6.373', 'text': 'tariffs will add nearly $1 billi'}, {'start': '6.373', 'end': '9.376', 'text': "to Apple's costs for the current"}, {'start': '9.542', 'end': '10.610', 'text': "So that's nearly $1"}, {'start': '10.610', 'end': '12.779', 'text': 'billion in three months.'}, {'start': '12.779', 'end': '13.046', 'text': 'Okay.'}, {'start': '13.046', 'end': '14.180', 'text': "That's then continue"}, {'start': '14.180', 'end': '14.981', 'text': 'with the rest of the year.'}, {'start': '14.981', 'end': '17.450', 'text': 'If tariffs continue as they are,'}, {'start': '17.450', 'end': '19.552', 'text': 'things could even get worse as U'}, {'start': '19.552', 'end': '21.388', 'text': 'manufacturing today'}, {'start': '21.388', 'end': '22.722', 'text': 'posted the biggest contraction'}, {'start': '22.722', 'end': '23.990', 'text': 'that we have seen in nearly five'}, {'start': '23.990', 'end': '24.290', 'text': 'That puts'}, {'start': '24.290', 'end': '25.825', 'text': 'you right back to exactly'}, {'start': '25.825', 'end': '26.893', 'text': "what we've been talking about, r"}, {'start': '26.893', 'end': '29.095', 'text': 'Those worst early days of Covid.'}, {'start': '29.095', 'end': '30.030', 'text': 'But vice President'}, {'start': '30.030', 'end': '33.033', 'text': 'JD Vance stood up today and said'}, {'start': '34.434', 'end': '36.636', 'text': 'I believe that a golden age'}, {'start': '36.636', 'end': '38.204', 'text': 'of American manufacturing'}, {'start': '38.204', 'end': '40.340', 'text': 'started 100 days ago.'}, {'start': '40.340', 'end': '40.907', 'text': 'I think that'}, {'start': '40.907', 'end': '42.475', 'text': 'the great American'}, {'start': '42.475', 'end': '44.844', 'text': 'manufacturing comeback has begun'}, {'start': '44.844', 'end': '47.180', 'text': 'and the world has started to tak'}, {'start': '49.015', 'end': '50.083', 'text': 'Meantime, manufacturing'}, {'start': '50.083', 'end': '51.084', 'text': 'giant General Motors'}, {'start': '51.084', 'end': '51.618', 'text': 'today said'}, {'start': '51.618', 'end': '53.520', 'text': 'that the tariffs will cost them'}, {'start': '53.520', 'end': '55.922', 'text': '4 to $5 billion'}, {'start': '55.922', 'end': '57.357', 'text': 'over the rest of the year.'}, {'start': '57.357', 'end': '58.825', 'text': 'And I spoke earlier today'}, {'start': '58.825', 'end': '60.660', 'text': 'with GM CEO Mary Barra'}, {'start': '60.660', 'end': '63.663', 'text': 'about the impact of the tariffs'}, {'start': '65.732', 'end': '67.534', 'text': "I know you've spoken to Presiden"}, {'start': '67.534', 'end': '68.568', 'text': 'directly about the tariffs.'}, {'start': '68.568', 'end': '70.103', 'text': 'When is the last time you spoke'}, {'start': '70.103', 'end': '71.071', 'text': 'and it was it this week'}, {'start': '71.071', 'end': '72.372', 'text': 'post his most recent shift.'}, {'start': '72.372', 'end': '74.340', 'text': 'And has he given you the confide'}, {'start': '74.340', 'end': '75.341', 'text': 'that this is it,'}, {'start': '75.341', 'end': '76.476', 'text': 'that you actually know'}, {'start': '76.476', 'end': '77.177', 'text': 'the rules of the game'}, {'start': '77.177', 'end': '80.180', 'text': "and they're not going to change"}, {'start': '80.947', 'end': '82.348', 'text': "Well, I've had"}, {'start': '82.348', 'end': '83.650', 'text': 'I spoke to the president'}, {'start': '83.650', 'end': '85.285', 'text': 'when I last visited the white Ho'}, {'start': '85.285', 'end': '86.019', 'text': "but I've been speaking"}, {'start': '86.019', 'end': '89.022', 'text': 'to many members of his administr'}, {'start': '90.056', 'end': '91.091', 'text': 'multiple times a day'}, {'start': '91.091', 'end': '92.225', 'text': 'over the last several weeks.'}, {'start': '92.225', 'end': '95.495', 'text': "So, I've had regular communicati"}, {'start': '95.762', 'end': '97.564', 'text': 'really feel that the, the white'}, {'start': '97.564', 'end': '98.965', 'text': 'and the administration are liste'}, {'start': '98.965', 'end': '100.567', 'text': 'to understand the situation.'}, {'start': '102.869', 'end': '104.304', 'text': "Well, if they're listening and u"}, {'start': '104.304', 'end': '105.572', 'text': 'the situation,'}, {'start': '105.572', 'end': '108.208', 'text': 'it might be possible for Vance t'}, {'start': '108.208', 'end': '108.808', 'text': 'not use the words'}, {'start': '108.808', 'end': '109.309', 'text': 'Golden age'}, {'start': '109.309', 'end': '110.510', 'text': 'of American manufacturing'}, {'start': '110.510', 'end': '112.579', 'text': 'over the past 100 days, on a day'}, {'start': '112.579', 'end': '113.213', 'text': 'that they came out'}, {'start': '113.213', 'end': '113.880', 'text': 'and announced the biggest'}, {'start': '113.880', 'end': '114.514', 'text': 'contraction U.S.'}, {'start': '114.514', 'end': '116.516', 'text': 'manufacturing in five years, aga'}, {'start': '116.516', 'end': '117.650', 'text': 'since those early days of Covid.'}, {'start': '117.650', 'end': '119.252', 'text': 'Dan Ives, Peter Tuchman, Jen'}, {'start': '119.252', 'end': '121.454', 'text': 'Psaki and Philip Bump are all he'}, {'start': '121.454', 'end': '124.457', 'text': "So dark Apple, that's your purvi"}, {'start': '125.225', 'end': '126.092', 'text': '$1 billion.'}, {'start': '126.092', 'end': '126.860', 'text': "They say it's going to cost"}, {'start': '126.860', 'end': '127.927', 'text': 'for just the first three months'}, {'start': '127.927', 'end': '129.062', 'text': 'of the tariffs.'}, {'start': '129.062', 'end': '131.164', 'text': "McDonald's just had its worst qu"}, {'start': '131.164', 'end': '133.433', 'text': 'since Covid manufacturing.'}, {'start': '133.433', 'end': '136.402', 'text': 'worst number in five years.'}, {'start': '136.402', 'end': '137.103', 'text': 'Kevin Hassett,'}, {'start': '137.103', 'end': '138.204', 'text': 'head of the National Economic Co'}, {'start': '138.204', 'end': '139.339', 'text': 'did say there would be.'}, {'start': '139.339', 'end': '140.974', 'text': "He said they I'd be sure"}, {'start': '140.974', 'end': '142.809', 'text': "they'll be news by the end of th"}, {'start': '142.809', 'end': '143.643', 'text': 'regarding a trade deal.'}, {'start': '143.643', 'end': '145.712', 'text': "I don't I haven't seen it."}, {'start': '145.712', 'end': '146.513', 'text': 'you know, like Nick said'}, {'start': '146.513', 'end': '147.147', 'text': 'several days ago,'}, {'start': '147.147', 'end': '147.780', 'text': 'there was one that was'}, {'start': '147.780', 'end': '148.781', 'text': 'dun dun dun dun dun.'}, {'start': '149.816', 'end': '151.718', 'text': "we don't know what it is yet."}, {'start': '151.718', 'end': '152.552', 'text': 'but when you put'}, {'start': '152.552', 'end': '154.020', 'text': 'all these things together in con'}, {'start': '154.020', 'end': '155.688', 'text': "and Apple's not putting a number"}, {'start': '155.688', 'end': '157.891', 'text': 'Look, I think the GM to me'}, {'start': '157.891', 'end': '159.392', 'text': 'is the most striking of all,'}, {'start': '159.392', 'end': '161.828', 'text': 'because when they gave those num'}, {'start': '161.828', 'end': '163.730', 'text': "it's a 20% cut."}, {'start': '163.730', 'end': '164.364', 'text': "They're essentially"}, {'start': '164.364', 'end': '166.166', 'text': "they're given in 2025."}, {'start': '166.166', 'end': '166.499', 'text': 'Yeah.'}, {'start': '166.499', 'end': '167.400', 'text': "And that's"}, {'start': '167.400', 'end': '167.934', 'text': 'you know,'}, {'start': '167.934', 'end': '168.501', 'text': 'show me that'}, {'start': '168.501', 'end': '169.669', 'text': 'from the white board to everythi'}, {'start': '169.669', 'end': '171.171', 'text': "we've talked about for the last"}, {'start': '171.171', 'end': '172.505', 'text': "We're trying to explain, like,"}, {'start': '172.505', 'end': '173.973', 'text': 'what the actual demand'}, {'start': '173.973', 'end': '175.642', 'text': 'destruction is going to do.'}, {'start': '175.642', 'end': '177.343', 'text': 'Barra is just dialed in'}, {'start': '177.343', 'end': '179.145', 'text': 'as anyone in terms of understand'}, {'start': '179.145', 'end': '180.480', 'text': 'what this is going to do.'}, {'start': '180.480', 'end': '184.284', 'text': '20% cut demand destruction that'}, {'start': '184.317', 'end': '185.985', 'text': 'we could be 15, 20%.'}, {'start': '185.985', 'end': '187.420', 'text': 'And it goes back to a year where'}, {'start': '187.420', 'end': '188.454', 'text': 'by the way, already fully'}, {'start': '188.454', 'end': '190.290', 'text': 'forecast numbers of how they tho'}, {'start': '190.290', 'end': '192.425', 'text': 'how things were going to be righ'}, {'start': '192.425', 'end': '193.993', 'text': "We don't know what to say. We go"}, {'start': '193.993', 'end': '194.527', 'text': 'And then they go back'}, {'start': '194.527', 'end': '194.994', 'text': 'to the drawing board'}, {'start': '194.994', 'end': '196.162', 'text': "and say we're going to cut by 20"}, {'start': '196.162', 'end': '197.330', 'text': '4 to 5 years'}, {'start': '197.330', 'end': '199.332', 'text': 'is meantime about to build a fac'}, {'start': '199.332', 'end': '200.300', 'text': 'I mean, the reality is'}, {'start': '200.300', 'end': '201.935', 'text': 'you can talk about golden age.'}, {'start': '201.935', 'end': '204.003', 'text': 'Tuchman I are going to build a f'}, {'start': '204.003', 'end': '206.639', 'text': 'in new Jersey for a t shirt fact'}, {'start': '206.639', 'end': '208.875', 'text': 'I mean, the point is, is that th'}, {'start': '208.875', 'end': '212.445', 'text': "let's talk reality versus fictio"}, {'start': '212.812', 'end': '215.582', 'text': "You look at GM, that's the math"}, {'start': '215.582', 'end': '217.684', 'text': 'and GM math. Apple math.'}, {'start': '217.684', 'end': '219.452', 'text': 'Amazon shares down a little bit'}, {'start': '219.452', 'end': '220.587', 'text': "because they're also pulling"}, {'start': '220.587', 'end': '221.688', 'text': 'back on their forecasts.'}, {'start': '221.688', 'end': '221.888', 'text': 'Yeah.'}, {'start': '221.888', 'end': '222.622', 'text': "But let's look at"}, {'start': '222.622', 'end': '223.356', 'text': "what's so curious"}, {'start': '223.356', 'end': '224.724', 'text': 'is that, you know, we talked abo'}, {'start': '224.724', 'end': '225.525', 'text': 'you can bully.'}, {'start': '225.525', 'end': '226.893', 'text': "You can't you can believe the ma"}, {'start': '226.893', 'end': '228.528', 'text': "but you can't believe the bond m"}, {'start': '228.528', 'end': '230.063', 'text': 'Look at the market.'}, {'start': '230.063', 'end': '230.763', 'text': 'Eight days'}, {'start': '230.763', 'end': '233.032', 'text': 'of significant rallies in the ma'}, {'start': '233.032', 'end': '234.801', 'text': "We've got nothing back for stock"}, {'start': '234.801', 'end': '235.969', 'text': 'Right. Which is kind of baffling'}, {'start': '235.969', 'end': '236.402', 'text': 'Like where?'}, {'start': '236.402', 'end': '237.270', 'text': 'Where is that coming from?'}, {'start': '237.270', 'end': '239.005', 'text': 'Ever since the day that Jim Cram'}, {'start': '239.005', 'end': '240.506', 'text': 'actually said people we need to'}, {'start': '240.506', 'end': '241.341', 'text': 'people need a reason'}, {'start': '241.341', 'end': '242.809', 'text': 'to buy the market again.'}, {'start': '242.809', 'end': '243.910', 'text': 'And that was the day that Trump'}, {'start': '243.910', 'end': '245.678', 'text': 'did the 90 day pause.'}, {'start': '245.678', 'end': '246.246', 'text': 'I mean,'}, {'start': '246.246', 'end': '247.347', 'text': 'that is a large'}, {'start': '247.347', 'end': '247.981', 'text': 'what I saw'}, {'start': '247.981', 'end': '248.581', 'text': 'headline today'}, {'start': '248.581', 'end': '249.882', 'text': 'that said it was the longest'}, {'start': '249.882', 'end': '251.484', 'text': 'sustained rally on Wall Street'}, {'start': '251.484', 'end': '253.019', 'text': 'since 2022.'}, {'start': '253.019', 'end': '254.587', 'text': 'And I know the media tends to be'}, {'start': '254.587', 'end': '255.355', 'text': 'and they love to be.'}, {'start': '255.355', 'end': '256.189', 'text': "It's the worst day ever."}, {'start': '256.189', 'end': '256.990', 'text': "It's the greatest week"}, {'start': '256.990', 'end': '258.291', 'text': 'and all that kind of stuff.'}, {'start': '258.291', 'end': '260.693', 'text': "But that's the guilty as charged"}, {'start': '260.693', 'end': '262.128', 'text': "Oh, I didn't mean, you know,"}, {'start': '262.128', 'end': '263.930', 'text': 'but but you know, the bottom lin'}, {'start': '263.930', 'end': '264.797', 'text': "that's significant."}, {'start': '264.797', 'end': '266.633', 'text': 'So why are they buying the marke'}, {'start': '266.633', 'end': '267.900', 'text': 'Right. Is it that they want to.'}, {'start': '267.900', 'end': '270.703', 'text': 'We were down almost 20% earlier'}, {'start': '270.703', 'end': '272.839', 'text': "Right now we're down maybe 11%."}, {'start': '272.839', 'end': '273.106', 'text': "They don't"}, {'start': '273.106', 'end': '274.974', 'text': 'want to be under-invested'}, {'start': '274.974', 'end': '276.976', 'text': 'in in in this month.'}, {'start': '276.976', 'end': '278.411', 'text': "I mean there's got to be a reaso"}, {'start': '278.411', 'end': '279.078', 'text': 'Today we had'}, {'start': '280.146', 'end': '281.147', 'text': 'oh well'}, {'start': '281.147', 'end': '281.981', 'text': 'what we talked about'}, {'start': '281.981', 'end': '283.983', 'text': 'was that the bottom line'}, {'start': '283.983', 'end': '284.450', 'text': 'is if'}, {'start': '284.450', 'end': '286.052', 'text': "if we don't have a deal,"}, {'start': '286.052', 'end': '287.654', 'text': 'then that the potential of that'}, {'start': '287.654', 'end': '288.321', 'text': 'is so dark.'}, {'start': '288.321', 'end': '289.522', 'text': 'And what you have to have,'}, {'start': '289.522', 'end': '290.923', 'text': 'like when they have him.'}, {'start': '290.923', 'end': '293.092', 'text': 'But again boy that cried wolf'}, {'start': '293.092', 'end': '294.193', 'text': 'keep talking about deals.'}, {'start': '294.193', 'end': '295.094', 'text': "You know what I'm saying?"}, {'start': '295.094', 'end': '296.296', 'text': 'When the deal is coming.'}, {'start': '296.296', 'end': '296.863', 'text': 'You know what, though?'}, {'start': '296.863', 'end': '297.797', 'text': "Sorry, I'm getting one thing."}, {'start': '297.797', 'end': '298.698', 'text': 'I spoke to my'}, {'start': '298.698', 'end': '300.333', 'text': 'my my jumper on the floor'}, {'start': '300.333', 'end': '301.167', 'text': 'of the exchange today'}, {'start': '301.167', 'end': '302.368', 'text': 'and tried to explain how'}, {'start': '302.368', 'end': '303.903', 'text': 'how does he see this going on'}, {'start': '303.903', 'end': '304.804', 'text': 'when we talk about'}, {'start': '304.804', 'end': '306.039', 'text': 'that is 3 or 4 years out'}, {'start': '306.039', 'end': '307.974', 'text': 'or more for the factories?'}, {'start': '307.974', 'end': '308.875', 'text': 'And he said, yes,'}, {'start': '308.875', 'end': '310.410', 'text': "but who's going to be building"}, {'start': '310.410', 'end': '311.311', 'text': 'these factories?'}, {'start': '311.311', 'end': '312.111', 'text': 'People are going to be'}, {'start': '312.111', 'end': '313.613', 'text': 'put to work right away'}, {'start': '313.613', 'end': '314.714', 'text': 'to build the factories.'}, {'start': '314.714', 'end': '316.316', 'text': "And that's the positive."}, {'start': '316.316', 'end': '317.350', 'text': "That's that's the view"}, {'start': '317.350', 'end': '319.419', 'text': 'that is so positive to them. All'}, {'start': '319.419', 'end': '320.887', 'text': 'So he is fulfilling his promise.'}, {'start': '320.887', 'end': '321.120', 'text': 'All right.'}, {'start': '321.120', 'end': '322.322', 'text': "So and that's important people"}, {'start': '322.322', 'end': '323.089', 'text': 'and some of the supporters,'}, {'start': '323.089', 'end': '324.223', 'text': "they do see that he's fulfilling"}, {'start': '324.223', 'end': '325.525', 'text': "That's how they see it. Yes."}, {'start': '325.525', 'end': '326.693', 'text': 'Mary Barra today though Gina.'}, {'start': '326.693', 'end': '328.127', 'text': 'And she said that 4 to $5 billio'}, {'start': '328.127', 'end': '329.062', 'text': 'we were sort of drilling down'}, {'start': '329.062', 'end': '330.463', 'text': 'to put a price on a car.'}, {'start': '330.463', 'end': '331.964', 'text': 'And, you know, we could quibble.'}, {'start': '331.964', 'end': '332.999', 'text': 'She could quibble with the analy'}, {'start': '332.999', 'end': '334.200', 'text': 'Patrick Anderson,'}, {'start': '334.200', 'end': '335.101', 'text': "who's been tracking this for eve"}, {'start': '335.101', 'end': '336.202', 'text': 'So you could take an Escalade.'}, {'start': '336.202', 'end': '338.237', 'text': "It's about $8,000 for the tariff"}, {'start': '338.237', 'end': '340.139', 'text': 'Now, maybe GM eats some of that.'}, {'start': '340.139', 'end': '341.774', 'text': "They can't eat all of that. Righ"}, {'start': '341.774', 'end': '342.408', 'text': 'And on the other end of'}, {'start': '342.408', 'end': '343.976', 'text': 'that is someone buying a car.'}, {'start': '343.976', 'end': '345.378', 'text': 'That is a hell of a lot of money'}, {'start': '345.378', 'end': '347.714', 'text': 'This is why over the past'}, {'start': '347.714', 'end': '349.015', 'text': 'few weeks, months,'}, {'start': '349.015', 'end': '350.483', 'text': 'you saw so many people'}, {'start': '350.483', 'end': '351.884', 'text': 'going into the market'}, {'start': '351.884', 'end': '353.319', 'text': "and saying, I'm going to do this"}, {'start': '353.319', 'end': '354.454', 'text': "I'm going to buy my car."}, {'start': '354.454', 'end': '356.289', 'text': "Now, I'm going to buy my washer."}, {'start': '356.289', 'end': '360.727', 'text': 'Now there is so much fear of the'}, {'start': '360.727', 'end': '362.195', 'text': 'that this is going to inflict'}, {'start': '362.195', 'end': '364.230', 'text': 'on the average American househol'}, {'start': '364.230', 'end': '365.565', 'text': 'and their numbers'}, {'start': '365.565', 'end': '367.200', 'text': "that we're looking at averages"}, {'start': '367.200', 'end': '368.668', 'text': 'that this is going to cost'}, {'start': '368.668', 'end': '372.839', 'text': 'the average household $3,800 thi'}, {'start': '372.939', 'end': '374.741', 'text': 'You just put that in perspective'}, {'start': '374.741', 'end': '377.210', 'text': "We're talking about a country"}, {'start': '377.210', 'end': '380.113', 'text': 'where 40 to 50% of people'}, {'start': '380.113', 'end': '384.751', 'text': 'still could not cover a $1,000 e'}, {'start': '385.451', 'end': '386.552', 'text': 'A third of people have'}, {'start': '386.552', 'end': '388.321', 'text': 'no emergency savings.'}, {'start': '388.321', 'end': '390.490', 'text': 'I mean, this is paycheck to payc'}, {'start': '390.490', 'end': '394.227', 'text': "and they're feeling this clothin"}, {'start': '394.360', 'end': '395.795', 'text': 'You go to the grocery store,'}, {'start': '395.795', 'end': '396.929', 'text': "it's all the good stuff."}, {'start': '396.929', 'end': '399.999', 'text': "It's cheese, it's coffee, it's c"}, {'start': '400.266', 'end': '401.467', 'text': 'And and people.'}, {'start': '401.467', 'end': '403.102', 'text': 'And just wait till the inventory'}, {'start': '403.102', 'end': '404.704', 'text': 'and the prices start to run down'}, {'start': '404.704', 'end': '405.405', 'text': 'But Filipino.'}, {'start': '405.405', 'end': '406.606', 'text': 'But we hear from,'}, {'start': '406.606', 'end': '407.707', 'text': 'you know, we hear from Scott Bas'}, {'start': '407.707', 'end': '409.842', 'text': 'you know, sort of when he famous'}, {'start': '409.842', 'end': '411.878', 'text': 'cheap goods is not the American'}, {'start': '411.878', 'end': '413.179', 'text': 'And Trump saying, well,'}, {'start': '413.179', 'end': '413.679', 'text': 'you can just'}, {'start': '413.679', 'end': '415.081', 'text': 'you can have a couple dollars'}, {'start': '415.081', 'end': '416.048', 'text': "and they'll cost more,"}, {'start': '416.048', 'end': '418.184', 'text': 'but you know who needs $30?'}, {'start': '418.184', 'end': '420.119', 'text': "That's that's the political tone"}, {'start': '420.119', 'end': '420.853', 'text': "that we're hearing."}, {'start': '420.853', 'end': '421.053', 'text': 'Yeah.'}, {'start': '421.053', 'end': '422.155', 'text': "And I think it's certainly refle"}, {'start': '422.155', 'end': '423.256', 'text': 'the fact that Donald Trump'}, {'start': '423.256', 'end': '425.224', 'text': 'is is largely isolated'}, {'start': '425.224', 'end': '425.858', 'text': 'and insulated'}, {'start': '425.858', 'end': '427.527', 'text': 'from these negative effects, you'}, {'start': '427.527', 'end': '429.095', 'text': "which we haven't had hit yet. Ri"}, {'start': '429.095', 'end': '430.096', 'text': "I mean, we're just talking about"}, {'start': '430.096', 'end': '430.830', 'text': 'the invoice'}, {'start': '430.830', 'end': '432.932', 'text': "shortages haven't actually hit y"}, {'start': '432.932', 'end': '435.268', 'text': 'and he is existing in this bubbl'}, {'start': '435.268', 'end': '435.768', 'text': 'and that,'}, {'start': '435.768', 'end': '436.102', 'text': 'you know, I,'}, {'start': '436.102', 'end': '437.203', 'text': 'I wrote about this this week.'}, {'start': '437.203', 'end': '437.570', 'text': 'It is'}, {'start': '437.570', 'end': '439.338', 'text': 'it is unique for a president'}, {'start': '439.338', 'end': '440.773', 'text': 'and it is different for Trump'}, {'start': '440.773', 'end': '442.742', 'text': 'now how insulated he is'}, {'start': '442.742', 'end': '444.177', 'text': 'and that even Republicans'}, {'start': '444.177', 'end': '445.511', 'text': 'who already say,'}, {'start': '445.511', 'end': '447.013', 'text': "okay, this is Trump's economy,"}, {'start': '447.013', 'end': '448.681', 'text': 'but Republicans'}, {'start': '448.681', 'end': '449.382', 'text': 'have been'}, {'start': '449.382', 'end': '451.050', 'text': 'trained very effectively'}, {'start': '451.050', 'end': '453.119', 'text': 'by the conservative media'}, {'start': '453.119', 'end': '454.787', 'text': 'to give him a pass on this stuff'}, {'start': '454.787', 'end': '456.122', 'text': 'And so when he says these things'}, {'start': '456.122', 'end': '456.856', 'text': 'these remarkable things,'}, {'start': '456.856', 'end': '457.557', 'text': 'if you imagine'}, {'start': '457.557', 'end': '458.090', 'text': 'Joe Biden'}, {'start': '458.090', 'end': '459.592', 'text': 'saying that line about the dolls'}, {'start': '459.592', 'end': '460.460', 'text': 'like people would mean'}, {'start': '460.460', 'end': '461.494', 'text': 'tearing their hair.'}, {'start': '461.494', 'end': '462.628', 'text': 'Yeah, right. Yeah.'}, {'start': '462.628', 'end': '465.264', 'text': 'But he gets a pass on it in the'}, {'start': '465.264', 'end': '465.865', 'text': 'Negative of'}, {'start': '465.865', 'end': '466.632', 'text': 'that is that'}, {'start': '466.632', 'end': '468.434', 'text': 'it means that everyone else has'}, {'start': '468.434', 'end': '470.102', 'text': "because he isn't changing things"}, {'start': '470.102', 'end': '471.437', 'text': "And I do think it's worth pointi"}, {'start': '471.437', 'end': '472.805', 'text': "We still don't have a consistenc"}, {'start': '472.805', 'end': '473.439', 'text': 'from the white House.'}, {'start': '473.439', 'end': '474.574', 'text': 'Is this manufacturing'}, {'start': '474.574', 'end': '475.842', 'text': "where they're sticking with the"}, {'start': '475.842', 'end': '476.409', 'text': "And so you're supposed"}, {'start': '476.409', 'end': '477.210', 'text': 'to build a factory here'}, {'start': '477.210', 'end': '478.110', 'text': "and they're going to last foreve"}, {'start': '478.110', 'end': '478.611', 'text': 'Or is it.'}, {'start': '478.611', 'end': '479.345', 'text': "We're making deals"}, {'start': '479.345', 'end': '479.812', 'text': "and we're going to go"}, {'start': '479.812', 'end': '481.314', 'text': 'back to these imports.'}, {'start': '481.314', 'end': '483.249', 'text': "They're not even clear on that."}, {'start': '483.249', 'end': '485.551', 'text': 'And so when you talk about uncer'}, {'start': '485.551', 'end': '485.985', 'text': 'to your'}, {'start': '485.985', 'end': '487.119', 'text': 'to your great point,'}, {'start': '487.119', 'end': '489.489', 'text': "what's the rules of the game"}, {'start': '489.489', 'end': '491.390', 'text': 'and the reality in terms'}, {'start': '491.390', 'end': '492.725', 'text': 'of like these companies,'}, {'start': '492.725', 'end': '494.827', 'text': 'if they actually have to build f'}, {'start': '494.827', 'end': '496.963', 'text': '4 to 5, what happens in the near'}, {'start': '496.963', 'end': '499.065', 'text': "That's where they cut costs."}, {'start': '499.065', 'end': '501.067', 'text': "People get laid off. That's the"}, {'start': '501.067', 'end': '501.767', 'text': "And I do think it's worth"}, {'start': '501.767', 'end': '503.302', 'text': 'noting to your point,'}, {'start': '503.302', 'end': '505.204', 'text': 'manufacturing for construction'}, {'start': '505.204', 'end': '506.272', 'text': 'was already surging'}, {'start': '506.272', 'end': '507.607', 'text': 'because of the infrastructure bi'}, {'start': '507.607', 'end': '508.708', 'text': 'If you look at the numbers,'}, {'start': '508.708', 'end': '510.543', 'text': 'it was already spiking.'}, {'start': '510.543', 'end': '511.611', 'text': 'And yet here we are'}, {'start': '511.611', 'end': '512.311', 'text': 'now all of a sudden'}, {'start': '512.311', 'end': '513.079', 'text': 'this is a big priority.'}, {'start': '513.079', 'end': '514.280', 'text': 'And it only changed what they th'}, {'start': '514.280', 'end': '515.448', 'text': 'about going back to liberation.'}, {'start': '515.448', 'end': '516.582', 'text': 'And sorry for one second'}, {'start': '516.582', 'end': '517.483', 'text': "that we don't"}, {'start': '517.483', 'end': '518.684', 'text': "we still don't know anything"}, {'start': '518.684', 'end': '519.752', 'text': 'more than we did that day'}, {'start': '519.752', 'end': '520.353', 'text': 'that he came out'}, {'start': '520.353', 'end': '521.087', 'text': 'with the long list'}, {'start': '521.087', 'end': '522.622', 'text': 'of, of the, of the countries'}, {'start': '522.622', 'end': '523.723', 'text': 'in those numbers. Right.'}, {'start': '523.723', 'end': '525.224', 'text': 'That was supposed to be etched i'}, {'start': '525.224', 'end': '526.425', 'text': 'That was supposed to be the big'}, {'start': '526.425', 'end': '527.393', 'text': 'the big reveal.'}, {'start': '527.393', 'end': '529.228', 'text': "Now he's pushed that back."}, {'start': '529.228', 'end': '530.596', 'text': "We've moved the goalposts."}, {'start': '530.596', 'end': '531.497', 'text': "We've done everything"}, {'start': '531.497', 'end': '532.665', 'text': 'except that that was give us'}, {'start': '532.665', 'end': '534.634', 'text': 'anything in reality that we know'}, {'start': '534.634', 'end': '535.535', 'text': "who's going to benefit,"}, {'start': '535.535', 'end': '536.335', 'text': "who's going to suffer,"}, {'start': '536.335', 'end': '537.670', 'text': 'what country and how much.'}, {'start': '537.670', 'end': '539.872', 'text': 'Nobody knows that somebody no.'}, {'start': '539.872', 'end': '541.140', 'text': '185 countries,'}, {'start': '541.140', 'end': '542.308', 'text': 'I think, in Trump said'}, {'start': '542.308', 'end': '544.010', 'text': "he's done a deal with 200. Right"}, {'start': '544.010', 'end': '544.877', 'text': "And I'm not I'm"}, {'start': '544.877', 'end': '546.078', 'text': 'not really even saying that to m'}, {'start': '546.078', 'end': '546.512', 'text': "I'm just saying"}, {'start': '546.512', 'end': '547.647', 'text': 'that is the point of like,'}, {'start': '547.647', 'end': '548.281', 'text': "it's clear that"}, {'start': '548.281', 'end': '549.148', 'text': "that there's"}, {'start': '549.148', 'end': '549.849', 'text': 'not taking'}, {'start': '549.849', 'end': '550.216', 'text': 'this all'}, {'start': '550.216', 'end': '551.918', 'text': 'with the level of seriousness th'}, {'start': '551.918', 'end': '553.519', 'text': 'that which is disrespect to'}, {'start': '553.519', 'end': '554.320', 'text': 'American people. And.'}]