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Trump Vows New Tariffs On Mexico, Canada, China On Day One; Thanksgiving Travel Expected To Set New Record; Missing Woman's Family In Mourning After Her Father Is Found Dead; Biden Admin Unveils Plan To Make Anti-Obesity Drugs Affordable For People With Medicare & Medicaid. Aired 1:30-2p ET
Aired November 26, 2024 - 13:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
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[13:30:42]
BRIANNA KEILAR, CNN HOST: President-Elect Trump is igniting fears of a trade war by vowing to slap a huge 25 percent tariff on all goods coming from Mexico and Canada. And also boosting tariffs on Chinese products by 10 percent.
Trump announced his plan on social media. He says it's in retaliation for illegal immigration and illicit drugs coming across the border, and that he's going to begin this on his first day in office.
BORIS SANCHEZ, CNN HOST: As you might imagine already, the response has been swift.
A Chinese embassy spokesperson telling CNN, quote, "No one will win a trade war or a tariff war." While Mexico's president says that "Neither threats nor tariffs will solve the issue of migration and drug consumption."
And many economists are warning that massive taxes could wreak havoc on America's supply chain and raise prices on everyday goods.
CNN's Matt Egan joins us now live.
Matt, a lot of numbers there. But for the average American shopper, the cost of tariffs is ultimately passed on to them.
MATT EGAN, CNN REPORTER: That's right, Boris and Brianna. Look, this certainly looks like the opening salvo of the next Trump trade war.
And I think the big question here is whether or not it's going to undermine another war, the war on inflation. And it's just too early to say. Right? Because there's so many unknowns.
I mean, will Trump actually go forward and impose these tariffs or will he reach some sort of agreement that allows him to back down? If he does impose the tariffs, how long do they stay in place?
And how do businesses react? We know, in the past, they have passed along costs to consumers. But it's unclear whether or not they're definitely going to do the same thing now.
I think, at a minimum, it's safe to say that these threatened tariffs, they have the potential to cause chaos for businesses, to invite retaliation from our trading partners and, yes, to raise costs for consumers.
And remember, what Trump is threatening to do here is much bigger in scale than what he did during the first term. These are massive tariffs across the board. They are not targeted or surgical.
Let's just look at Canada. I mean, the U.S. imported over $400 billion of goods from Canada last year alone, everything from minerals, cement, wood, paper goods and oil.
That's why GasBuddy's Patrick De Haan told CNN's Jim Acosta earlier today that if these tariffs go into place, they could cause gas prices in certain areas in the Rockies and Midwest to go up by $0.25 to $0.75 a gallon. That would certainly be inflationary.
And we know Americans are fed up with high prices at the grocery store. But we rely on Mexico to get agricultural products, including 89 percent of the avocados that are imported into the U.S. -- they come from Mexico -- 91 percent of the tomatoes. So, of course tariff hikes would increase those food costs.
And look, I think that all of this shows that Trump really means business when it comes to tariffs. As one analyst put it this morning, Trump 2.0 is all gas, no brakes.
And despite all the focus on his cabinet picks, at the end of the day, he's the one calling the shots on tariffs.
KEILAR: Yes, we know what happens to a car that is all gas and no brakes though.
So what are businesses and companies doing to prepare right now for these tariffs?
EGAN: Well they're already scrambling to figure out how to avoid these tariffs. You've got to believe they're blowing up the phones of their lawyers and lobbyists in Washington, D.C.
And some of them are warning that, yes, consumers are going to pay higher prices. Just one example, we're already hearing from the sneaker industry, the trade group that represents Under Armor, Nike and DSW.
They put out a statement warning that these tariffs would, quote, "Directly increase costs for retailers and consumers, leading to higher prices on everyday essentials like shoes."
That, of course, is the opposite of what the president-elect has argued, where he said that this won't be inflationary. The industry is saying it will be.
Remember, these are taxes on imports. And so U.S. companies, they pay that tax to the treasury. And then they've got to decide, do they eat the cost -- it's going to hurt their profits -- or are they going to pass the cost along to consumers by raising prices?
And we've heard from a number of companies, including Walmart, Target and others in recent days saying that, yes, they will lift prices.
We're also seeing an impact in the stock market. What's interesting is some shares of auto companies, including General Motors, Ford and Chrysler owner Stellantis, are all down. Look at that. G.M. down more than 8 percent.
[13:35:09]
And that's because there are these concerns that Trump's tariffs could mess up their delicate supply chains. He's trying to protect American car workers. But these cars are really made with parts that are made all across North America.
And so there is a risk that if the tariffs go into place, they will increase car prices as well, Boris and Brianna?
SANCHEZ: Yes, even if it's just a negotiating tactic and setting a difficult standard potentially for these other nations to meet, it's already having worldwide impacts, at least here in the United States on the stock market.
Matt Egan, thank you so much for the reporting. Appreciate it.
EGAN: Thank you.
SANCHEZ: Still ahead, the TSA is bracing for record travel and what's expected to be the busiest Thanksgiving ever. What you need to know, when we come back.
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SANCHEZ: The Thanksgiving rush is on. Right now, millions of Americans are hitting the roads and heading to airports ahead of the upcoming holiday.
And this year is expected to be the busiest Thanksgiving travel week ever. More than 18 million passengers in the skies, another 71 million expected to drive.
KEILAR: Be warned, though, a mix of wintry weather and ongoing air traffic controller shortages are threatening to disrupt some of those travel plans.
For the very latest, let's bring in CNN aviation correspondent, Pete Muntean, the mayor of DCA.
Pete, what can air travelers expect this holiday?
PETE MUNTEAN, CNN AVIATION CORRESPONDENT: You know, so far, the early rush has been relatively easy for folks. Just check FlightAware. The cancellations and delays are relatively low.
And the FAA says it anticipates handling about 50,000 flights in total today. Meaning today will be the busiest days for air traffic in the skies.
TSA says things are moving relatively smoothly. They've screened about five million people since the start of this week, 2.8 million people anticipated at airports nationwide today, 2.9 million people at airports nationwide tomorrow.
I spoke with TSA Administrator David Pekoske, and I want you to listen to him now. He says that the standard for screening, getting people through the TSA checkpoint, if you have pre-check, is about 10 minutes. If you don't have pre-check, it's about 30 minutes.
But things, he says, may be so busy. That, in some cases, airports will simply be too slammed.
This is what he told me.
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DAVID PEKOSKE, TSA ADMINISTRATOR: What oftentimes happens in some airports is you're just at capacity. In other words, you can't add any more lanes. That's -- physically no more lanes can be put in a checkpoint.
And you can't -- you can only put a certain number of people in the checkpoint operation itself.
And so there are there are going to be days where we are just at full capacity. And that might cause some of those wait-time standards to be exceeded.
ANNOUNCER: Thank you for your cooperation.
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MUNTEAN: The FAA says there may be some staffing issues with air traffic control, as well as putting out that warning.
It also says that there could be ground stops and ground delay programs put into place at major airports across the country today, in San Francisco, in Boston, in Las Vegas and at the big three New York- area airports, Newark, JFK and LaGuardia.
The good news here is that the TSA is getting relatively good at predicting these huge days. In fact, the top-10 days in TSA history have all occurred in 2024. And they think this Sunday after Thanksgiving will set a new all-time air travel record all right.
KEILAR: All right, let's hope that it goes smoothly.
SANCHEZ: Pete, do you have everything you need over there? Did you pack everything you need, Pete?
MUNTEAN: Is there something I'm missing here, Boris?
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SANCHEZ: Did you pack your patience, Pete?
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KEILAR: Yes, did you pack your patience?
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MUNTEAN: The inaugural "pack your patience" of the Thanksgiving rush on CNN NEWS CENTRAL, oh, yes, I packed it. You know, I did.
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KEILAR: Pete "pack your patience" Muntean, thank you, sir.
And coming up, it is a really tragic twist in a case that has gripped the country. The father of a missing Hawaii woman who -- who vanished nearly two weeks ago, has been found dead. Details ahead.
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SANCHEZ: New agony is gripping the family of Hannah Kobayashi of Hawaii. She vanished two weeks ago after texts from her phone warned of "deep hackers" stealing her identity.
But loved ones still determined to find her are now mourning the death of her father, Ryan.
KEILAR: The Los Angeles County Medical examiner said that he died by suicide on Sunday. He had traveled to Los Angeles, where Hannah was last seen alive, and he spoke with CNN last week.
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RYAN KOBAYASHI, FATHER OF HANNAH KOBAYASHI: I know Hannah. Hannah loved to travel. She loved to travel. She loved photography, you know, art, music.
And she liked -- you know, I wasn't too close to her, you know, growing up so we haven't had contact for a while. So, you know, I'm just trying to make up, trying to -- trying to get her back is the main focus, yes.
Hannah, you are loved. You missed, yes. And we're here for you.
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KEILAR: CNN's Natasha Chen is with us now.
Natasha, this is a family that has already gone through so much. What are they saying about the search for Hannah and the death of her father?
NATASHA CHEN, CNN NATIONAL CORRESPONDENT: I mean, this is just so distressing. They're completely shattered by this death of her father, who had come to L.A. to look for Hannah for 13 days before he was found dead by apparent suicide on Sunday morning near LAX.
You know, the -- the family has issued a statement talking about how he died of a broken heart.
Let's show you that statement from Hannahs sister, Sydney. She says, "You're with the angels now, Dad, I am absolutely devastated that you left us so soon. But I know it was because of a broken heart."
And the family would like to emphasize that they want to keep the focus on finding Hannah. And no one has heard from her in nearly two weeks, since November 11th.
And just to remind folks what happened here, she was on a flight from Hawaii to Los Angeles. She arrived at LAX and was supposed to continue on to New York, but she never made that connecting flight,
And so she did keep in communication with some family and friends and a couple of days after that told them that she did not go to New York.
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And let's show you some of the messages that she texted one friend.
Saying, "Deep hackers wiped my identity, stole all of my funds, and have had me on a mind F since Friday. I got tricked pretty much into giving away all my funds for someone I thought I loved."
So you can imagine that's very distressing for her family and friends to hear that. She was spotted at The Grove, which is a popular outdoor dining area and shopping area in Los Angeles.
And the family says they also saw surveillance footage of her downtown near Crypto Arena, but not clear when that footage was recorded -- Boris and Brianna?
SANCHEZ: Now the search for her continues, even amid this tragedy.
Natasha Chen, thank you so much for the reporting.
Coming up, a potential game changer for those wildly popular obesity drugs. The Biden administration has a plan to make them more affordable for millions of Americans. The details in just moments.
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KEILAR: Today, the Biden administration is making a big move to expand coverage for anti-obesity drugs for millions of Americans with Medicare and Medicaid potentially dropping out-of-pocket costs for popular medications like Wegovy and Zepbound by as much as 95 percent. SANCHEZ: One significant unanswered question, whether the incoming
Trump administration will endorse this new plan.
CNN health reporter, Jacqueline Howard, joins us now.
Jacqueline, tell us about this new proposal.
JACQUELINE HOWARD, CNN HEALTH REPORTER: Boris and Brianna, this proposal would require Medicare and Medicaid to cover weight-loss medications, like Outbound, like Wegovy, for all patients with obesity.
And this is different than what is the current approach, where Medicare, by law, is not allowed to cover drugs for weight loss. So this would reinterpret the statute to allow coverage for the treatment of obesity, treating it as a chronic disease.
And we know that these medications are so expensive. They can cost about $1,000 a month. So that's why expanding access appears to be a priority for the Biden administration.
But like you said, Boris, we don't know if this proposal will be finalized. We're hearing there's not enough time to make this final before Biden leaves office.
So it would kind of roll over for consideration under the Trump administration. And it's not clear whether the next administration will, in fact, finalize this proposal. So we'll have to wait to see what exactly happens next.
SANCHEZ: And, Jacqueline, how many people could this potentially impact?
HOWARD: Well, it's estimated that this could make medications available to an estimated 3.4 million people with Medicare, an estimated four million Medicaid enrollees. So this could potentially help more than seven million people out there.
And we know that obesity has been an ongoing public health concern. It impacts about 40 percent of all adults in the United States. So this is a big, big deal and a big area to watch.
KEILAR: All right, Jacqueline Howard, thank you so much.
Coming up, nearly 30 years ago, the murder of JonBenet Ramsey became a national obsession. And now a new documentary is reexamining the case. Hear why JonBenet's father now believes this case can finally be solved.
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