O’Donnell pointed out that
even the conservative editorial board of The Wall Street Journal has challenged
Trump’s claim that these trade restrictions are popular, stating on Sunday that
“if tariffs are a free economic lunch, and their benefits abound, why
offer a rebate.”
“Sixty-five percent of
Americans oppose the Trump tariffs and Donald Trump’s response to that is to
call them ‘fools,’ with an exclamation point,”
said O’Donnell.
“Sixty-five
percent of the country knows that Donald Trump’s tariffs are causing
inflation.”
“Sixty-five percent know
that the Trump tariffs are economically hurting them,”
he added.
“And Donald
Trump calls them ‘fools’ and then says he wants to send them all a check for
$2,000 to compensate for the economic harm that his tariffs have caused those
people.”
O’Donnell cited a Washington Post/ABC
News/Ipsos survey from October 24–28 that revealed 65% of American people were
against Trump’s tariffs. This was significantly higher than the 61% of
respondents who disapproved in an August Pew Research Center survey.
“People that are against
Tariffs are FOOLS!”
Trump wrote Sunday on his Truth Social platform.
“We are now
the Richest, Most Respected Country In the World, With Almost No Inflation, and
A Record Stock Market Price. 401K’s are Highest Ever.”
In April, Trump declared a
broad 10% baseline tariff on all imports, with additional duties imposed on
some nations. Although the initial statement caused market turmoil and raised
concerns of a worldwide recession, the details have subsequently changed.
Last week, the justices of
the U.S. Supreme Court expressed doubts about Trump’s ability to apply those
duties without the consent of Congress, which he has done by citing the 1977
International Emergency Economic Powers Act.
Given that a decision in
the case is anticipated early next year, Trump seemed anxious about this on
social media on Tuesday. O’Donnell conducted a fact check after he warned that
losses from repealing the tariffs would “not be possible” and would
cost $3 trillion.
“Only $195 billion has been
collected in Trump tariffs and all of that could easily be refunded,”
O’Donnell said.
“The
IRS refunds that much every year in overpaid income taxes … and it’s just as
easy as the refund that the Treasury sends to millions and millions of
taxpayers every year.”
What specific tariffs did O’Donnell discuss in the segment?
A minimum tariff of 10% applicable to imports from nearly every
country in addition to other tariffs applicable to specific countries,
particularly Chinese, Canadian, and Mexican imports. A 25% tariff on Canadian
and Mexican imports, including automotive parts and aluminum imports, which
went into effect in March 2025.
A range of tariffs resulting from Section 232 investigations,
targeting products in other industries such as copper, lumber, timber,
semiconductors, and pharmaceuticals. Tariffs proposed or at some point enacted
by the former administration in retaliation against countries importing oil
from Venezuela.
O’Donnell criticized these tariffs as being impractical,
constitutionally doubtful, and damaging to American businesses and American
consumers, noting that many were either reversed or were blocked by the
courts.
