WEBVTT 00:00:00.009 --> 00:00:02.609 line:85% position:50% size:80% LET'S BRING IN NBC'S SENIOR BUSINESS CORRESPONDENT CHRISTINE ROMANS, 00:00:02.640 --> 00:00:05.110 line:85% position:50% size:80% WHO'S BEEN WATCHING THE MARKETS ALONG WITH SO MANY PEOPLE. 00:00:05.238 --> 00:00:06.030 line:85% position:50% size:80% IT'S NOT JUST MARKETS. 00:00:06.078 --> 00:00:07.000 line:85% position:50% size:80% I MEAN THE MARKETS ARE TANKING. 00:00:07.400 --> 00:00:08.038 line:85% position:50% size:80% THEY DON'T LIKE THIS, 00:00:08.079 --> 00:00:08.880 line:85% position:50% size:80% THE UNCERTAINTY, 00:00:09.000 --> 00:00:12.359 line:85% position:50% size:80% THE SPECTER OF PRICES GOING WAY UP AND RECESSION. 00:00:12.398 --> 00:00:12.788 line:85% position:50% size:80% I MEAN, 00:00:13.560 --> 00:00:14.439 line:85% position:50% size:80% IS THAT THE BOTTOM LINE HERE? 00:00:14.560 --> 00:00:15.000 line:85% position:50% size:80% THE BOTTOM LINE. 00:00:15.079 --> 00:00:16.870 line:85% position:50% size:80% MARKETS THINK THIS IS A HUGE SHOCK, 00:00:17.000 --> 00:00:19.359 line:85% position:50% size:80% MAYBE A STAGFLATION SHOCK WHERE YOU HAVE 00:00:19.359 --> 00:00:21.609 line:85% position:50% size:80% INFLATION TOO HIGH AND GROWTH REALLY SLOWS, 00:00:21.620 --> 00:00:23.839 line:85% position:50% size:80% AND THAT'S A DANGEROUS COMBINATION. 00:00:24.079 --> 00:00:26.478 line:85% position:50% size:80% AND WHEN YOU LOOK AT SOME OF THE STOCKS THAT ARE REALLY MOVING. 00:00:26.561 --> 00:00:29.100 line:85% position:50% size:80% AGGRESSIVELY RIGHT NOW FALLING AGGRESSIVELY. 00:00:29.269 --> 00:00:31.019 line:85% position:50% size:80% THERE ARE STOCKS LIKE NIKE, 00:00:31.269 --> 00:00:32.090 line:85% position:50% size:80% BEST BUY, 00:00:32.390 --> 00:00:33.100 line:85% position:50% size:80% WALMART. 00:00:33.270 --> 00:00:35.820 line:85% position:50% size:80% THESE ARE COMPANIES WITH BIG WITH A BIG, 00:00:35.951 --> 00:00:36.659 line:85% position:50% size:80% THEIR EMPLOYERS, 00:00:36.990 --> 00:00:37.701 line:85% position:50% size:80% BIG EMPLOYERS, 00:00:37.831 --> 00:00:41.390 line:85% position:50% size:80% AND THEY ALSO HAVE A VERY INTERNATIONAL GLOBAL SUPPLY CHAIN, 00:00:41.590 --> 00:00:42.979 line:85% position:50% size:80% SO THEIR COSTS ARE GOING TO GO UP. 00:00:43.191 --> 00:00:45.110 line:85% position:50% size:80% WILL THEY EAT ALL THOSE COSTS? 00:00:45.360 --> 00:00:45.761 line:85% position:50% size:80% MAYBE. 00:00:45.920 --> 00:00:47.191 line:85% position:50% size:80% WILL THEY PASS THEM ON TO CONSUMERS? 00:00:47.310 --> 00:00:47.640 line:85% position:50% size:80% PROBABLY. 00:00:47.750 --> 00:00:49.350 line:85% position:50% size:80% LET'S TALK ABOUT THAT BECAUSE WE'RE TALKING ABOUT 00:00:49.350 --> 00:00:50.511 line:85% position:50% size:80% SOME OF THE COMPANIES HERE THAT ARE AFFECTED. 00:00:50.549 --> 00:00:51.710 line:85% position:50% size:80% WE'RE TALKING ABOUT THE STOCK MARKET. 00:00:51.831 --> 00:00:52.990 line:85% position:50% size:80% LET'S TALK ABOUT. 00:00:53.110 --> 00:00:55.212 line:85% position:50% size:80% AVERAGE AMERICANS WHO ARE WATCHING AND LISTENING RIGHT NOW, 00:00:55.341 --> 00:00:56.731 line:85% position:50% size:80% IT SOUNDS LIKE 00:00:57.222 --> 00:01:01.051 line:85% position:50% size:80% JUST ABOUT THE COST OF EVERYTHING IN THIS COUNTRY IS ABOUT TO GO UP. 00:01:01.341 --> 00:01:03.930 line:85% position:50% size:80% GLOBALIZATION MADE THE MIDDLE CLASS 00:01:04.740 --> 00:01:06.412 line:85% position:50% size:80% HAVE A MUCH HIGHER STANDARD OF LIVING, 00:01:06.662 --> 00:01:08.662 line:85% position:50% size:80% AND NOW THE PRESIDENT IS SAYING HIS PLAN 00:01:08.662 --> 00:01:11.501 line:85% position:50% size:80% IS TO REINDUSTRIALIZE THE UNITED STATES OF AMERICA, 00:01:11.662 --> 00:01:12.710 line:85% position:50% size:80% BUILD THINGS HERE. 00:01:12.941 --> 00:01:14.941 line:85% position:50% size:80% IT WILL BE MORE EXPENSIVE TO BUILD THOSE THINGS HERE. 00:01:15.022 --> 00:01:16.691 line:85% position:50% size:80% THOSE THINGS WILL LIKELY COST MORE, 00:01:16.861 --> 00:01:19.091 line:85% position:50% size:80% AND YOU WILL NOT HAVE ACCESS TO THAT REALLY, 00:01:19.141 --> 00:01:19.581 line:85% position:50% size:80% REALLY CHEAP. 00:01:19.662 --> 00:01:21.093 line:85% position:50% size:80% FOREIGN PRODUCTS IN SOME CASES, 00:01:21.212 --> 00:01:23.692 line:85% position:50% size:80% SO CONSUMERS WILL PAY MORE FOR A LOT OF THINGS RIGHT AWAY. 00:01:23.813 --> 00:01:25.102 line:85% position:50% size:80% I THINK YOU'LL SEE SHOES, 00:01:25.373 --> 00:01:25.861 line:85% position:50% size:80% CLOTHING, 00:01:26.052 --> 00:01:27.123 line:85% position:50% size:80% ELECTRONICS, 00:01:27.373 --> 00:01:27.692 line:85% position:50% size:80% CARS. 00:01:27.733 --> 00:01:30.932 line:85% position:50% size:80% WE HEARD FORD OVERNIGHT SAYING THAT THIS MORNING ACTUALLY ANNOUNCING 00:01:30.932 --> 00:01:33.772 line:85% position:50% size:80% IT WAS GOING TO EXTEND EMPLOYEE PRICING UNTIL JUNE 2ND BECAUSE 00:01:33.772 --> 00:01:37.611 line:85% position:50% size:80% IT UNDERSTANDS THAT CONSUMERS ALREADY WERE BATTLING WITH AFFORDABILITY PROBLEMS 00:01:37.611 --> 00:01:40.412 line:85% position:50% size:80% FOR EXPENSIVE CARS AND NOW THEY COULD BE MORE EXPENSIVE. 00:01:40.492 --> 00:01:42.242 line:85% position:50% size:80% SO THEY'RE TRYING TO HOLD THE LINE ON THEIR PRICES. 00:01:42.332 --> 00:01:44.652 line:85% position:50% size:80% SO I MEAN IF THIS PROJECT IS TO, 00:01:44.733 --> 00:01:45.132 line:85% position:50% size:80% AS YOU SAY, 00:01:45.141 --> 00:01:46.132 line:85% position:50% size:80% REORIENT THE. 00:01:46.212 --> 00:01:49.962 line:85% position:50% size:80% GLOBAL ECONOMY SO MORE THINGS ARE MADE IN AMERICA THAT DOES NOT HAPPEN OVERNIGHT. 00:01:50.043 --> 00:01:50.444 line:85% position:50% size:80% IT DOESN'T. 00:01:50.563 --> 00:01:52.483 line:85% position:50% size:80% SO THAT'S SOMETHING WHERE YOU'VE GOT TO START HAVING 00:01:52.483 --> 00:01:54.524 line:85% position:50% size:80% COMPANIES SAY ALL RIGHT WELL WE'LL BUILD FACTORIES HERE. 00:01:54.602 --> 00:01:56.903 line:85% position:50% size:80% THAT'S YEARS AND YEARS AND YEARS AND IN THE MEANTIME 00:01:57.203 --> 00:02:00.554 line:85% position:50% size:80% PEOPLE ARE DEALING WITH THE HIGHER PRICES AND THE LOSS OF JOBS AND SO FORTH. 00:02:00.563 --> 00:02:03.003 line:85% position:50% size:80% AND THEN THERE'S THIS ALSO THIS FROZEN ASPECT FOR 00:02:03.003 --> 00:02:04.804 line:85% position:50% size:80% SO MANY BUSINESSES I'VE TALKED TO WHERE THEY, 00:02:04.953 --> 00:02:07.843 line:85% position:50% size:80% THEY'RE NOT SURE IN 2 YEARS IF ALL THESE TARIFFS ARE STILL GOING TO BE ON. 00:02:07.962 --> 00:02:10.354 line:85% position:50% size:80% THERE WILL BE A NEW ADMINISTRATION IN 3 YEARS. 00:02:10.443 --> 00:02:12.032 line:85% position:50% size:80% NOW THAT SEEMS LIKE A LONG TIME AWAY, 00:02:12.324 --> 00:02:12.643 line:85% position:50% size:80% BUT THEY ALSO. 00:02:12.764 --> 00:02:13.264 line:85% position:50% size:80% HAVE SEEN, 00:02:13.433 --> 00:02:14.413 line:85% position:50% size:80% ESPECIALLY IN THE AUTO INDUSTRY, 00:02:14.514 --> 00:02:16.633 line:85% position:50% size:80% THEY ALREADY DID A BIG NEGOTIATION FOR A TRADE DEAL 00:02:16.633 --> 00:02:18.944 line:85% position:50% size:80% WITH JARED KUSHNER AND DONALD TRUMP SEVERAL YEARS AGO, 00:02:18.974 --> 00:02:21.554 line:85% position:50% size:80% AND NOW THAT DEAL LOOKS LIKE IT'S GOING TO BE RIPPED UP. 00:02:22.243 --> 00:02:23.004 line:85% position:50% size:80% SO WHAT IS, 00:02:23.115 --> 00:02:24.804 line:85% position:50% size:80% WHAT IS THE CERTAINTY AND THE PLANNING? 00:02:24.903 --> 00:02:25.425 line:85% position:50% size:80% SO YOU HAVE 00:02:25.633 --> 00:02:28.034 line:85% position:50% size:80% THIS FROZEN ASPECT FOR SOME BUSINESS LEADERS, 00:02:28.115 --> 00:02:29.784 line:85% position:50% size:80% WHICH OF COURSE IS NOT GOOD FOR THE ECONOMY. 00:02:29.835 --> 00:02:31.663 line:85% position:50% size:80% THE UNITED STATES GROWS AND MOVES FORWARD, 00:02:31.835 --> 00:02:33.115 line:85% position:50% size:80% AND RIGHT NOW A LOT OF PEOPLE ARE JUST STUCK 00:02:33.115 --> 00:02:34.594 line:85% position:50% size:80% IN PLACE WONDERING HOW THIS IS GOING TO PLAY OUT. 00:02:34.683 --> 00:02:37.425 line:85% position:50% size:80% SO MUCH UNCERTAINTY GOING TO BE A BUSY DAY FOR YOU, 00:02:37.474 --> 00:02:37.944 line:85% position:50% size:80% SURE WILL. 00:02:38.153 --> 00:02:38.433 line:85% position:50% size:80% THANK YOU, 00:02:38.514 --> 00:02:39.054 line:85% position:50% size:80% CHRISTINE.