In an unpredictable era for both our country and the world, the Dow experienced a surprising upswing after days of historic market losses due to President Trump‘s tariffs. This news was shared on “The Late Show with Stephen Colbert,” where the host himself, Stephen Colbert, celebrated the unexpected increase in the Dow. With a measured tone and a touch of humor, Colbert addressed the market’s sudden shift and the implications it had on the nation’s economy.
Colbert informed his viewers that the mad emperor of global trade, President Trump, had authorized a 90-day pause and a substantially lowered reciprocal tariff of 10%, citing the fact that representatives from over 75 countries had called to negotiate a solution. This decision, made just in the nick of time, saved the nation from a previous decision by Trump himself. Colbert expressed his relief, humorously emphasizing that he has no idea what Trump is doing with these tariffs, a sentiment he apparently shares with the President.
The host humorously compared this economic situation to a nuclear winter being put on pause for 90 days, playfully suggesting that everyone stock up on canned goods and rice. Colbert then pointed to July 8th as the end date of this pause, teasingly referring to it as history’s bloodiest National Raspberry Day. He highlighted the abrupt change in Trump’s policies, noting that just days earlier, Trump had emphasized that his policies will never change, only to pivot and adjust shortly after.
Earlier in the day, Trump had posted a tweet saying “Be cool,” which raised eyebrows and didn’t inspire much assurance. When asked about the tweet during a press conference, Trump explained that he believed people were getting yippy and jumping out of line. Colbert playfully mocked Trump’s response, joking that Russia was watching and going “yippee yippee.”
The talk show host further discussed Trump’s effect on the market, acknowledging that the recent days had been glum, but that this sudden upswing wasn’t necessarily the best. Colbert likened it to giving a mug that says “world’s biggest mom” on Mother’s Day, pointing out that biggest doesn’t always mean best.
While Trump announced a pause on most of the tariffs, he raised the tariffs on China from 10% to 25%, leaving the country that manufactures most of our goods out of the pause. This move drew concerns from experts who warned that the trade war with China could have severe repercussions. Colbert humorously imagined a conversation between the US and China, likening it to divorced parents dividing responsibility, with China taking over manufacturing in the years to come.
Not one to back down, China retaliated with their own tariffs on US imports and even threatened to ban Hollywood film releases in the country. Colbert jokingly highlighted China’s influence on Hollywood, playfully remarking that it’s the only reason we keep allowing Michael Bay to make Transformers movies.
Colbert also mentioned that before the tariff pause, the European Union had implemented their own set of retaliatory tariffs on US imports, including soybeans, clothing, and dental floss. He cheekily speculated about how Europe would create men’s bathing suits without dental floss, and made a lighthearted jab about loopholes for the wealthy.
The host concluded by expressing his surprise at Trump’s sudden change of heart, especially since he had attended a Republican Congressional Committee fundraiser just the night before and boasted about his tariffs. Colbert humorously reflected on Trump’s remarks during the event, including a song performance, and emphasized the uncertainty surrounding the President’s decisions.
Overall, “The Late Show with Stephen Colbert” tackled the surprising turn of events in the ongoing trade war and provided an entertaining yet informative take on the economic world.
