From Washington: The White House Is Standing By Its Tariff Strategy

Stocks tumbled after President Donald Trump unveiled his plan to impose tariffs on nearly all of America’s trading partners. The White House says market losses were expected, but believes its strategy will pay off in the long term. However, some Republicans, like Texas Senator Ted Cruz, fear that the policy could be "terrible for Americans." White House Principal Deputy Press Secretary Harrison Fields explains why he thinks consumers should not be worried, and lays out how this week was just the first step to leveling the playing field and improving the country's trade relationships. The White House confirmed that President Trump's first foreign trip of his second term will be to Saudi Arabia next month. The visit comes shortly after Saudi Arabia's Crown Prince Mohammed bin Salman hosted U.S., Russian and Ukrainian delegations for ceasefire talks -- a move that signified Saudi Arabia's move toward becoming a more significant U.S. partner. Now, as President Trump claims the country is committed to investing a trillion dollars in America, former NSC Senior Director to President George W. Bush, Michael Allen, breaks down the bigger prize President Trump sees with Saudi Arabia. Learn more about your ad choices. Visit podcastchoices.com/adchoices