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1:02

From CBS News Headquarters in

1:04

New York. This is

1:06

the CBS Evening News.

1:10

Good evening. I'm John Dickerson. I'm

1:13

Maurice Dubois. It was a day

1:15

of tariff turmoil on Wall Street.

1:17

The new Trump taxes on imports

1:19

from the rest of the world

1:21

and fears about what might happen

1:23

next at investors pulling out of

1:25

the stock market. That sent prices

1:28

plunging. The Dow was down nearly

1:30

4%. The S&P 500, nearly 5%.

1:32

And the chalkful of tech stocks,

1:34

NASDAQ, lost nearly 6%. It was

1:36

the worst day for the financial

1:38

markets in five years since the

1:41

COVID meltdown. But the president

1:43

is not worried. He said

1:45

it was to be expected.

1:48

Margaret Brennan begins our coverage

1:50

from Washington. Well John more

1:52

than two trillion dollars in value

1:54

was wiped off the broad market

1:57

S&P 500 index today the worst

1:59

trading day the depths of the

2:01

pandemic. The business community continues to

2:03

be stunned by how broad the

2:06

tariffs are and unclear how long

2:08

they'll last. The market's steep decline

2:10

defied President Trump's prognosis. I think

2:13

it's going very well. It was

2:15

an operation like when a patient

2:17

gets operated on. And it's a

2:20

big thing. JP Morgan estimates the

2:22

wide-ranging tariffs represent the largest tax

2:25

increase in nearly 60 years and

2:27

bring the economy perilously close to

2:29

slipping into recession. Overnight the 25%

2:32

tariff on foreign-made autos took effect.

2:34

Canada's Prime Minister hit back. The

2:36

government of Canada will be responding

2:39

by matching the U.S. approach, with

2:41

25% tariffs on all vehicles imported.

2:43

from the United States. American automaker

2:46

GM said it's now hiring at

2:48

one plant, while Jeepmaker Stelantis plans

2:50

a short-term layoff of 900 employees

2:53

due to production halt in Mexico

2:55

and Canada. And at least two

2:58

more rounds of tariffs are planned

3:00

for most of the world, including

3:02

manufacturing hubs like China and Cambodia.

3:05

as well as tiny countries like

3:07

Africa's Lesotho and even a remote

3:09

uninhabited island near Australia. It will

3:12

take several weeks before shoppers see

3:14

price increases for imported products. President

3:16

Trump says companies will now move

3:19

manufacturing jobs back to America. There

3:21

was an expectation. Michael Strain, a

3:24

conservative economist, predicts that could take

3:26

years. So this isn't a switch

3:28

that you flip and suddenly manufacturing

3:31

is back in the United States

3:33

of America. It's also not a

3:35

switch that you should wish to

3:38

wish to flip. In the United

3:40

States, service sector wages are higher

3:42

than manufacturing wages. We should not

3:45

wish to move Americans from higher

3:47

paying jobs into lower paying jobs.

3:50

Why aren't more conservative saying what

3:52

you just said that the president

3:54

is wrong? The president's trade policy

3:57

is going to do a lot

3:59

of economic damage. It's going to...

4:01

the income of households, it's going

4:04

to reduce the purchasing power of

4:06

wages, it's going to increase unemployment.

4:08

The administration says the opposite of

4:11

everything you just said there. The

4:13

Commerce Secretary says jobs are going

4:15

to explode. Yeah, they're wrong and

4:18

they will be proven wrong if

4:20

they stick with this policy. Margaret,

4:23

I know you've been on the

4:25

phones calling other people around, what

4:27

else are you hearing? John, I

4:30

continue to hear surprise that the

4:32

president's vow here really seems to

4:34

be remaking the global economy, not

4:37

just competing with China, not just

4:39

bringing back factory jobs to America.

4:41

Not everyone in the investment community

4:44

is against terrorists, but they're surprised

4:46

at the seemingly arbitrary nature of

4:49

how the calculations were made, that

4:51

allies, even Israel, were being punished

4:53

here, and also surprised to hear

4:56

President Trump. rally against the very

4:58

same free trade deal that he

5:00

negotiated during his No, he's not.

5:03

Now the Treasury Secretary did say

5:05

that if other countries do not

5:07

retaliate, if they just lay down,

5:10

if they take this, this could

5:12

be the worst. It could be

5:14

the ceiling for them. But President

5:17

Trump said this afternoon that he's

5:19

looking at more tariffs, possibly on

5:22

pharmaceuticals and potentially on computer chips.

5:24

There have been multiple messages. Margaret

5:26

Brennan in Washington. Thanks so much,

5:29

Margaret. Moneywash correspondent Kelly O'Grady joins

5:31

us now to walk through some of

5:33

the scenarios as to how this might

5:35

actually play out So Kelly, let's start

5:38

with a best case scenario Yeah, so

5:40

when it comes to tariffs I want

5:42

to show you a couple of things

5:44

These are some of the positives. It's

5:46

not exhaustive, but it could mean more

5:49

products made in America because companies would

5:51

move manufacturing here to avoid those steep

5:53

tariffs that could also create more American

5:55

jobs and put that all together a

5:57

more self-reliant economy now this might take

6:00

Yeah and hundreds of billions, maybe trillions

6:02

of dollars, but it certainly would have

6:04

been good during COVID to have a

6:06

domestic supply chain. And the other thing

6:09

though is also revenue from these tariffs

6:11

that could offset government debt. The White

6:13

House says $700 billion this year. Do

6:15

people have the patience? That's the question.

6:17

What about a worst case scenario? What's

6:20

that look like? So this happens a

6:22

little bit more immediate kind of the

6:24

next few months, maybe a year. You

6:26

saw the stock market today. Investors really

6:28

didn't like this because of how it

6:31

could impact profits at companies as well

6:33

as the consumer. And that gets us

6:35

to spending if inflation goes up because

6:37

of tariffs, which JP Morgan is projecting

6:39

one to one and a half percent

6:42

this year based on yesterday's announcement. Consumers

6:44

might spend less, which means a slower

6:46

economy. And then finally a trade war

6:48

where you have retaliatory tariffs and countries.

6:50

don't come to the table and negotiate

6:53

but it's all back and forth. A

6:55

lot of this is based on emotion.

6:57

What about a middle ground? Is there

6:59

one? Will we see one? That's a

7:02

more likely scenario. I mean, nothing in

7:04

the economy happens in a vacuum. Yes,

7:06

this is the impact of terrorists, but

7:08

there will be other things. Likely higher

7:10

prices. Companies will absorb some of that,

7:13

but definitely some short-term pain. Again, patience.

7:15

Will people have it? We'll see. Kelly,

7:17

thank you so much. Well, Europe is

7:19

threatening to retaliate for the tariffs. At

7:21

Luxrow Distillers in the heart of Kentucky's

7:24

bluegrass country. They'll produce

7:26

more than 100,000 barrels of bourbon

7:28

this year about 5 million gallons.

7:30

How many barrels in here? Rick

7:32

House like this can hold upwards

7:35

of 25,000 barrels. What President Brandengal

7:37

is less certain of, how souring

7:39

trade relations will bruise the state's

7:41

whiskey industry. What is your level

7:43

of concern right now about tariffs?

7:46

It's something that we are monitoring

7:48

very closely. As an industry and

7:50

as a business, we are concerned.

7:52

As the bourbon ferments, the industry

7:54

stews. American-made spirits were already targeted

7:56

by Canada and the EU during...

7:59

President Trump's first term. This time,

8:01

they're also being pulled from store

8:03

shelves. Retaliation with a twist. Our

8:05

witch as an industry is just

8:07

disentangle us from the debate. We

8:10

met Kentucky Governor Andy Bashir at

8:12

the state Capitol to talk about

8:14

the impact. The instability is hurting

8:16

all of our industry and all

8:18

of our economy. The amber liquor

8:21

is his state's liquid gold. generating

8:23

$9 billion a year and responsible

8:25

for more than 23,000 jobs. That's

8:27

the farmer who grows the corn.

8:29

Those are the drivers that deliver

8:32

it all over the country. A

8:34

ton of hardworking Kentuckians are impacted

8:36

by these tariffs. This is largely

8:38

red state. You're a Democrat. Maybe

8:40

a lot of people in your

8:42

state are for this. They were

8:45

for the president, many if not

8:47

most of them, and they were

8:49

for a number of his policies,

8:51

but what they heard was he

8:53

was going to help them have

8:56

a better life, that he was

8:58

going to improve the economy, that

9:00

he was going to make it

9:02

easier to pay bills at the

9:04

end of the month, and that

9:07

he was going to bring down

9:09

prices. That's not what's happening. Most

9:11

bourbon is aged in oak barrels

9:13

at least four years. something distillers

9:15

say has never been needed more.

9:18

In an industry where you're not

9:20

planning for tomorrow or a month

9:22

from now, but three, four, five,

9:24

six years in advance, it creates

9:26

a lot of question marks. The

9:28

concern now, their hopes, may be

9:31

running dry. Janet's Emily and CBS

9:33

News, Bardstown, Kentucky. CBS News is

9:35

following the rising cost of products

9:37

affected by American tariffs. You can

9:39

check out our price tracker at

9:42

cbsnews.com/tariffs. Now more of the top

9:44

stories from around the world in

9:46

tonight's evening news roundup beginning at

9:48

the White House where at least

9:50

six staffers at the National Security

9:53

Council have been fired. Sources tell

9:55

CBS News the firings came after

9:57

the right-wing personality Laura Loomer met

9:59

with a president and cast doubt.

10:01

out on the staffer's loyalty to

10:04

him. The Pentagon's acting Inspector General

10:06

says he will investigate Defense Secretary

10:08

Pete Heggsath's disclosure of plans to

10:10

attack Hootie Rebels in Yemen on

10:12

the text messaging app. signal. A

10:14

journalist was accidentally invited to the

10:17

chat. The app is not part

10:19

of the Defense Department's secure communications

10:21

network. Nearly three months after those

10:23

devastating wildfires in Los Angeles County,

10:25

the remains of another victim of

10:28

the eaten fire have been found.

10:30

That brings the number of people

10:32

killed in the fires to 30.

10:34

Forecasters at Colorado State University predict

10:36

another busy hurricane season in the

10:39

Atlantic this year with at least

10:41

17 named storms including nine hurricanes.

10:43

And the Chinese parent company of

10:45

TikTok has until Saturday to sell

10:47

the app or it'll be banned

10:50

in the U.S. over national security

10:52

concerns. Senior business and tech correspondent

10:54

Jolin Kent has the latest on

10:56

the TikTok countdown. President Trump has

10:58

said today he is quote very

11:00

close to a deal on TikTok.

11:03

Multiple American companies such as Amazon

11:05

have put in a bid to

11:07

buy the social media company. Now

11:09

a source close to the deal

11:11

tells CBS News that one plan

11:14

under consideration by the White House

11:16

is for a new American entity

11:18

to lease the algorithm from TikTok's

11:20

Chinese owner bite dance. But that

11:22

could mean the Chinese government would

11:25

still have access to the app

11:27

and its user data. That of

11:29

course is raising a lot of

11:31

questions. about whether this type of

11:33

deal would actually satisfy the national

11:36

security requirements set forth by the

11:38

law that originally set up this

11:40

ban in the first place. Now

11:42

lawmakers have long alleged that Tiktok

11:44

could be used to collect information

11:46

or spy on Americans. The companies

11:49

have not yet responded to our

11:51

latest request for comment. And remember,

11:53

Tiktok and its Chinese parent company,

11:55

Bike Dance, have yet to agree

11:57

to a sale. Jillingen, in our

12:00

Washington Bureau, thank you. this evening

12:02

news. Rob. on what could be

12:04

another night of tornadoes. And we'll

12:06

have these stories. I'm James Brown

12:08

in Louisville, where a person living

12:11

in the traditionally underserved West End

12:13

has a life expectancy 15 years

12:15

shorter than their neighbors. A new

12:17

hospital is changing that. That's tonight

12:19

on Ion America. I'm Omar Viafronca

12:22

in northeast Arkansas, where storms tore

12:24

through the Midwest and south overnight.

12:26

We'll tell you what one former

12:28

storm chaser did to save his

12:30

family before a tornado tore his

12:32

house up. That story coming up

12:35

on the CBS evening news. There

12:45

is a risk of more tornadoes in

12:47

the middle of the country for the

12:49

rest of the week. Heavy rain and

12:51

flooding to Rob Marciano tracking it all

12:53

for us. Rob? Good evening guys. We

12:55

had 36... reported tornadoes yesterday and just

12:57

catastrophic damage in some spots. This is

12:59

just outside of Louisville. Probably an EF2

13:01

tornado there that was that commercial park

13:04

heavily damaged. Omar is going to have

13:06

much more on the roundup of the

13:08

damage. Let's get to what's going to

13:10

happen tonight. We do have the tornado

13:12

watches that extend from Northeast Kentucky through

13:14

Tennessee. It does include parts of Nashville

13:16

over towards Little Rock as well. This

13:18

is up until 10 o'clock tonight. Any

13:20

one of these storms could get enough

13:22

spin to see some tornadoes. Should be

13:24

as bad as last night. said it

13:26

again, and I think tomorrow is going

13:28

to be worse than today. We've got

13:31

a moderate chance of seeing some severe

13:33

weather in the same spots. And on

13:35

top of that, another round coming on

13:37

Saturday. So not only do we have

13:39

severe weather with us, here's the next

13:41

one coming in, and another one behind

13:43

that on Saturday, we've got the threat

13:45

for seeing some flooding. And the National

13:47

Weather Service is saying this is once

13:49

in a generation type of flooding, catastrophic

13:51

life-threatening stuff through the weekend. So we'll

13:53

have to deal with that as well.

13:55

Rob Marciano, thank you so much Rob.

13:58

The storms are blamed for at least

14:00

seven deaths. In Tennessee, a man and

14:02

his teenage daughter were killed when their

14:04

home was destroyed. Omar via Franka. is

14:06

in Lake City, Arkansas, where he got

14:08

a close-up look at the devastation. You

14:10

see this. I mean, where do you

14:12

start? Over. I mean, you start over.

14:14

After years of chasing tornadoes, one finally

14:16

caught up with Jared Edson. So the

14:18

truck's over there. Yeah. Carport's over there.

14:20

Where's the boat trailer over here? And

14:22

you don't know where the boat is.

14:25

I don't know what about that. Wow.

14:27

Luckily, instead of riding out the storm,

14:29

Edson, his wife, and three kids drove

14:31

to a shelter. The tornado that hit

14:33

them was just one of 33 reported

14:35

that tore through the south and Midwest

14:37

last night. The size, that's the biggest

14:39

one I've ever seen in my life.

14:41

Even chasing or anything, that's the biggest

14:43

one I've ever seen. Edson knew his

14:45

property took a direct hit after seeing

14:47

this video on social media. I just

14:49

see my house going up. You see

14:52

it? Yeah. You can see how the

14:54

transformers going off and what looks like

14:56

either my carport or my truck is

14:58

going across this guy. When you saw

15:00

it, did you know? Yeah. You knew

15:02

that was yours. Yeah. Edson lost most

15:04

of his material things, but not everything.

15:06

The family plans to make new memories

15:08

and keep their plans to go on

15:10

a wish trip later this month to

15:12

Disney World for his daughter who has

15:14

cystic fibrosis. They asked last night, it's

15:16

like, well, you know, the house is

15:19

gone, what about the trip? It's like,

15:21

trip's still on, you know, we're going

15:23

to do that, we're going to be

15:25

able to go. You're not going to

15:27

let anything get in the way? Nope.

15:31

A preliminary report from the National

15:33

Weather Service says this was an

15:35

EF3 tornado peak wind speeds of

15:37

150 miles per hour. More tornadoes

15:39

and flooding are possible tonight. Omar

15:41

Via Franca in Lake City, Arkansas.

15:43

Thank you so much Omar. I

15:45

love that the trip is still

15:48

on. Yeah, absolutely. Great attitude. All

15:50

right here. A former nurse had

15:52

a dream to build a hospital

15:54

in an underserved neighborhood. How she

15:56

made it come true. And tonight.

15:58

Aye on America. Survivor

16:03

48 is here and alongside it we're

16:06

bringing you a brand new season of

16:08

on-fire. The only official Survivor podcast. If

16:10

you're a Survivor super fan, you won't

16:12

want to miss this deep dive into

16:15

every episode where we break down how

16:17

we design the game, the biggest moves,

16:19

your burning questions. It's the only podcast

16:22

that gives you inside access to Survivor,

16:24

that nobody else can. Listen to on-fire

16:26

the official Survivor podcast with me,

16:29

Jeff Probst, every Wednesday after the

16:31

show, wherever you get your podcast.

17:15

Next month, the Mahabadali Center

17:17

in Louisville will honor a

17:19

woman who embodies his legacy

17:21

of greatness. She has changed

17:23

the lives of residents of

17:25

his hometown for the better

17:27

by bringing health care to

17:29

a Louisville neighborhood in desperate

17:31

need of it. James Brown

17:33

has tonight's Eye on America.

17:37

How's everything being? It's not something

17:39

you hear often, but Regina Mitchell

17:41

loves going to the doctor. It's

17:43

so loving and it's so friendly

17:45

because everyone from the front door

17:47

is greeting you with a smile.

17:49

Are you kidding me? No, I'm

17:52

very much for real. Her appointments

17:54

are at Norton West Hospital. The

17:56

first to open here in Louisville's

17:58

majority Black West End. neighborhood in

18:00

more than 150 years. It's not

18:02

a place of complete balance as

18:04

you hear on the news or

18:06

other places. The West End is

18:09

a family oriented place. Bringing a

18:11

hospital to the West End was

18:13

the dream of Karenza Townsend. Eight

18:15

years ago she was a nurse

18:17

manager at another Norton Hospital with

18:19

that crazy dream and an elevator

18:21

pitch. We had this plan. It

18:24

wasn't in writing yet. We happened

18:26

to see Russ Cox, our CEO,

18:28

walking to the bathroom. But we

18:30

stopped him outside the bathroom. We

18:32

did not go in. Nobody thought

18:34

he would actually say yes. He

18:36

said yes. He just listened to

18:38

us. And he said, let's do

18:41

it. What do you need? His

18:43

blessing and her tenacity led to

18:45

the building of the hospital. Townsend

18:47

now runs. The life expectancy in

18:49

West Louisville is about 12 and

18:51

a half to 15 years different

18:53

here than anywhere else in the

18:56

city. That alone gives you reason

18:58

enough to build a hospital on

19:00

West Louisville. That's stunning and sobering.

19:02

Lack of transportation, lack of general

19:04

education around health care, and then

19:06

just bias in how people are

19:08

treated in the health care system,

19:10

our people in West Louisville are

19:13

not getting the help that they

19:15

need. 70% of staff are locals.

19:17

Charles Ramsey grew up in the

19:19

West End and is now raising

19:21

his two sons here. His title

19:23

at the hospital is case manager,

19:25

but with close ties to the

19:28

community. he's become a connection point

19:30

for any kind of care. Empathy

19:32

is something that is not practiced

19:34

a lot anymore in health care.

19:36

I feel like if you have

19:38

empathy for a person, you understand

19:40

the better. That's where the trust

19:43

comes in. Building that trust starts

19:45

the moment people walk in the

19:47

door. With a warm welcome, art

19:49

that reflects the patients. and amenities

19:51

including a bistro and valley parking.

19:53

To have a good one? There's

19:55

also a food bank. A local

19:57

partnership that Ramsey runs from the

20:00

second floor of the house. You

20:02

want potatoes and onions? It's open

20:04

to anyone and because of his

20:06

community roots it serves as a

20:08

safe space. People are coming into

20:10

this pantry and we're converting them

20:12

to primary care patients or they're

20:15

coming in and they've had elements

20:17

that needed to be addressed for

20:19

years and they never did and

20:21

we see them right in the

20:23

emergency department. Are these kind of

20:25

queries? Atypical in other places? Yes,

20:27

because people don't feel comfortable coming

20:29

into the space. The people we

20:32

were serving, we asked them what

20:34

they wanted and what they needed.

20:36

They told us and we created

20:38

it. A lesson in listener. And

20:40

leading with love. For I On

20:42

America, James Brown, Louisville, Kentucky. Tomorrow

20:44

at this time, Steve Hartman will

20:47

be along with on the road

20:49

and the story of a 10-year-old

20:51

boy with a very special talent.

20:53

and Maurice and I will be

20:55

right back with a word about

20:57

four fallen heroes. The people of

20:59

Lithuania today honored four American soldiers

21:01

killed there last week. School kids

21:04

waved American and Lithuanian flags as

21:06

the coffins were carried through cathedral

21:08

square in Vilnius. The soldiers died

21:10

when their armored vehicle sank in

21:12

a swamp during a training exercise.

21:14

The family of Staff Sergeant Jose

21:16

Duenas Junior says he had a

21:19

huge heart and a pure soul.

21:21

He leaves a one-year-old son. Staff

21:23

Sergeant Edwin Franco was remembered as

21:25

an exceptional leader. He was the

21:27

father of a six-month-old boy. Private

21:29

first-class Dante Taneyo was called the

21:31

spark of the team. And Staff

21:34

Sergeant Troy Knutson Collins was a

21:36

talented mechanic. He is survived by

21:38

five children. The commanding general of

21:40

the third infantry division said no

21:42

words can capture the depth of

21:44

sorrow or gratitude we feel for

21:46

their service. And that is the

21:48

CBS evening news for tonight. Evening

21:51

News Plus streamed soon on CBS

21:53

News 24 7. I'm John Dickers.

21:55

I'm Maurice Dubois. Have

21:57

a good night.

21:59

We'll see you

22:01

tomorrow. tomorrow.