Return to Transcripts main page

CNN News Central

Trump Makes Concession: "80 Percent On China Seems Right"; China's Exports To U.S. Plunged 21 Percent In April Amid Trump Tariffs; Ex-Girlfriend Of Sean "Diddy" Combs Could Take Stand On Monday; Final Selection Of Jury Delayed After Some Prospective Jurors Removed; Testimony Expected To Begin On Monday In Combs' Trial. Aired 3-3:30p ET

Aired May 09, 2025 - 15:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

(COMMERCIAL BREAK)

[15:00:34]

BORIS SANCHEZ, CNN HOST: Key trade talks are just hours away and the President's already signaling that he's open to lowering tariffs on China. There's a lot riding on these talks as fewer ships loaded with goods pull into our nation's ports. We're actually going to speak with the executive director of the Port of Los Angeles about what he is seeing there.

Plus, Taking the Stand: One of the first witnesses in the sex trafficking trial of Sean "Diddy" Combs could be his ex-girlfriend, Cassie Ventura. We're also learning about how the defense may try to counter her claims.

BRIANNA KEILAR, CNN HOST: And as Pope Leo XIV holds his first mass as Pope in the Sistine Chapel, we're hearing from his family about what it was like growing up with the now pontiff.

We're following these major developing stories and many more all coming in right here to CNN NEWS CENTRAL.

SANCHEZ: The White House's top trade officials are meeting with their Chinese counterparts in Switzerland tomorrow and the two sides have been mired in a trade war. They're seeking a path to deescalate those tensions. Today, President Trump offered something of an olive branch by sharing that he supports a much lower tariff, still relatively high 80 percent on Chinese goods. Still, that's nearly half the 145 percent that he first put into place. CNN's Kristen Holmes is live for us at the White House.

So, Kristen, what are officials saying on the eve of these important conversations?

KRISTEN HOLMES, CNN SENIOR WHITE HOUSE CORRESPONDENT: Yes, Boris, and just to note that your 80 percent, even though that is lower than 145 percent, that's still astronomical. And when you talk to economists, they say anything above 50 percent is likely to freeze the market. So, whether or not this would actually work, but anyway, we'll go back to what Donald Trump and his officials are saying right now. They're talking about what this meeting is going to look like.

I have talked to a number of administration officials who say that they should be tempering down expectations, that they don't want it to be the idea that they're going to come out of this with some kind of major trade deal. In fact, Secretary of Treasury Scott Bessent actually said that he thought this was more about de-escalation, getting everyone to the table than actually making a deal.

Now, when Karoline Leavitt was asked about what Donald Trump posted online about those 80 percent tariffs, here's what she said.

(BEGIN VIDEO CLIP)

KAROLINE LEAVITT, WHITE HOUSE PRESS SECRETARY: The President still remains with his position that he is not going to unilaterally bring down tariffs on China. We need to see concessions from them as well. And again, that's part of the reason that Secretary Bessent is going to talk to his Chinese counterparts this weekend, to start those discussions in person.

As for the 80 percent number, that was a number the President threw out there. And we'll see what happens this weekend.

(END VIDEO CLIP)

HOLMES: So, one thing I want to point out is when he threw this number out there, at the end of it, he said 80 percent tariff on China seems right. Up to Scott B. Well, they are hanging quite a bit on Bessent, because we also heard Karoline Leavitt talking about how he had - Trump had confidence in Bessent, how he knew that Bessent was going to do a good job.

There's obviously going to be some kind of disappointment, if we don't see some kind of working towards a deal after this meeting. So, a lot of pressure there on Bessent, as we've seen this escalation that really, this point has come to a standstill.

KEILAR: Kristen Holmes, live for us at the White House. Thank you so much, Kristen.

Let's bring in CNN's Matt Egan now.

So Matt, talk to us about the current impacts that these tariffs are having on trade between China and the United States.

MATT EGAN, CNN REPORTER: Yes, Boris. Look, there's so much riding on these meetings in Geneva, because you still have a situation where the world's two biggest economies are in a full-blown trade war. These are sky-high tariffs. And the clock is ticking, right? The longer this goes on, the more damage to the economy. And yes, the more damage to world trade.

We just learned today from China that their exports into the United States plunged by 21 percent in April. And we've seen that shipments from China into the Port of Los Angeles have plunged. Analysts warn that we could be days or weeks away from a COVID-style supply chain meltdown that potentially causes shortages. Of course, this meltdown would be largely self-inflicted.

And so that is why obviously any sort of de-escalation that comes out of this meeting would be welcome. A hundred and forty-five percent tariffs on China, that's just not sustainable.

[15:05:02]

I would just note, though, that 80 percent tariffs, I mean, that is not exactly low. That is still very high, higher than pretty much on anyone had been anticipating coming into this year. And even if shortages are avoided here, there's growing concern about sticker shock. Goldman Sachs has this new warning out where they're saying - they say that a key inflation metric in the United States could hit nearly 4 percent by Christmas, and they're anticipating even bigger price increases for a number of categories, including clothes, footwear, used cars, appliances and computers.

Boris, they're warning that essentially this trade war could end up on doing a lot of the progress in the war on inflation.

SANCHEZ: Yes. Notable that you mentioned Christmas there because even as President Trump talks about potentially lowering tariffs on China, he's also brought up raising tariffs on major toy makers one in specific, right?

EGAN: Yes, that's right. We're talking about Mattel, that's the company behind toys including Barbie, Fisher-Price and those hot wheel monster trucks that my kids love. Now, Mattel warned recently that because of tariffs they're going to likely have to increase U.S. prices. And the CEO of Mattel also said that he doubts that even with these tariffs we're going to have a situation where toy manufacturing comes back to the United States.

Now, the President had a chance to respond to that in the Oval Office yesterday. Take a listen to what he said.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Let him go and we'll put a hundred percent tariff on his toys and he won't sell one toy in the United States and that's their biggest market. I heard that. I mean, I watched this guy talking about how I'm going to go counter. I said, well, I wouldn't want to have him as an executive too long.

(END VIDEO CLIP)

EGAN: So, there you heard the President going directly after Mattel and its CEO. I would just note though that a hundred percent tariffs that would obviously dramatically increase the price that Americans are paying when they're trying to buy Barbies or Hot Wheels or other toys if they could even get it. But it is notable to hear the President just a few days after Mattel came out with this price hike announcement going right back after the company. Boris?

SANCHEZ: Yes, interesting. Matt Egan, thanks so much for the reporting. Brianna? KEILAR: The impact from this trade war has been significant especially

at the busiest port in the U.S. which is the Port of Los Angeles. Gene Seroka is with us now. He's the executive director at the Port of Los Angeles.

Gene great to have you back here.

We had heard on Wednesday night from the Port of Seattle Commissioner that they had no container ships in port, that was the first time they'd seen that since the height of the pandemic. Last time you and I spoke here recently, you were expecting a 35 percent drop in port traffic this week. What are you seeing?

GENE SEROKA, EXECUTIVE DIRECTOR, PORT OF LOS ANGELES: Good afternoon, Brianna. Yes, we saw that drop this week. And when we close the books tomorrow night, we'll be down about 31 percent in volume compared to the same time last year. We've welcomed 16 ships into the Port of Los Angeles this week. Four vessels were canceled. In the end we've got another 13 vessels that have been canceled for the balance of May making up a little more than 20 percent overall of what we expected. So, we have now seen the impact right here on the docks.

KEILAR: So, you're seeing a real diminished volume coming in there.

This morning the President said the tariffs on China could be 80 percent that they could go down. Now, I will say there are questions as to whether that is an overture rather than an actual number that he wants to see as an end goal. The White House is saying this isn't a unilateral thing. This would be part of, obviously, some talks that they're having.

But when you look at that number it's still really big, 80 percent. Would that help or is that just still too big to really make a difference?

SEROKA: I think it's too big to make any difference and I haven't heard from any merchandisers or procurement folks that said a number like that would get them to start up buying again from China.

KEILAR: Oh, that's a really important thing to note.

At what point do longshoremen, dockworkers, mechanics, truck drivers start seeing layoffs in your experience?

SEROKA: Yes, we're starting to see that right now. There are 33 work groups out on the docks today. We call them labor gangs, 33. And there's about 25 members to each one of those labor gangs. In the past several recent Friday numbers we've been between 40 and 50 labor gangs out on the docks. With eight ships in port today, we're starting to see the dock workers go back to the hiring hall.

KEILAR: Okay. So, explain what that means. Are they sort of furloughed? Are their hours reduced? How does it work? How does that affect their take-home pay?

[15:10:03] SEROKA: It gets cut. And what you'll see are the folks go back to the

hiring hall looking for other jobs of similar timing and interest. My hope, and I've talked to the employers' association about this, is to get these dock workers who are not moving cargo back onto the terminals so they can do preventative maintenance or upkeep on the equipment. Get the yards in good shape for whenever that cargo comes back. It's rarely an occasion with a dip in volume that you can go out and do all that maintenance work. So that's what we'd like to see happen right now.

KEILAR: Yes. I mean, no doubt that's needed and it's tough to find time to do that when things are buzzing. When do shoppers, right, when do consumers go into the store start feeling the effects of what you are seeing in port?

SEROKA: I think it's going to be pretty quick, Brianna. This week were the first arrivals by container ship where the tariffs from China were applied at these very high 145 percent levels. Making a product from China now two and a half times more expensive than it was just last month. Those costs increases are going to be passed on to us as consumers and if you're importing parts and components for American factories, they will see those costs pass on as well.

KEILAR: Gene, if you could speak directly to the President what would you say to him?

SEROKA: There are real impacts on the ground. Now, with these policies and the change in direction we may see more American manufacturing. I'd like to focus on more American exports whether it's agriculture where we only consume as American citizens about a third of what the American farmer grows. And let's try to open up our markets overseas to American manufacturers.

L.A. County is the largest employee base of manufacturing jobs in the country at 390,000 folks. Yet, they export only 1 percent of the goods they make. Let's focus on these two areas to begin and see what we can do to open up markets overseas as part of these negotiations.

KEILAR: Gene Seroka, great to speak with you and see what you're seeing there in the Port of L.A. We appreciate your time today.

And still to come, we're learning who might be among the first witnesses in the sex trafficking trial of Sean "Diddy" Combs. We'll have details ahead.

Plus, President Trump is threatening to punish Russia if it doesn't agree to a ceasefire in its war on Ukraine. What he's now saying about the conflict.

And then later, the world is getting to know newly elected Pope Leo XIV, the first American pontiff. What we know about his stances on social issues like migration and poverty. That and much more coming up on CNN NEWS CENTRAL.

(COMMERCIAL BREAK)

[15:17:14]

KEILAR: Sean "Diddy" Combs' ex-girlfriend could be one of the first witnesses to take the stand when testimony begins in his sex trafficking trial on Monday. Cassie Ventura is known as victim one in court documents. Her lawsuit against Combs sparked a flood of allegations from dozens of other accusers. Ventura was seen in that disturbing video that was obtained by CNN being brutally attacked by Combs which he later apologized for. He is facing the possibility of life in prison if convicted in trial. Let's go now to CNN's Kara Scannell.

Kara, what are you learning?

KARA SCANNELL, CNN CORRESPONDENT: So, Brianna - that's right, prosecutions - one of their star witnesses will be Cassie Ventura. She is expected to take the stand next week and her testimony is expected to last the entire week. As you said her lawsuit was the first allegation that was public about Sean Combs allegedly beating her, allegedly forcing her to have sex with male prostitutes and it is what prompted the federal investigation leading to these charges.

So, she's expected to be a critical witness for the prosecution laying out what she says happened to her and setting the stage for the other witnesses and evidence that will come in this trial which is expected to go eight weeks. What we did here in court today was Combs' team previewing more of their defense.

They have said this in the past but laying it out clear today that what they are going to argue is that a lot of this sex in this - that will be the centerpiece of this trial was all consensual and that no victims were forced into having sex with anyone. One issue of course is that video of the hotel surveillance that shows Combs kicking and dragging Ventura in the hotel lobby outside of the elevator bank and that is going to be a key piece of evidence in this case.

His team saying that they're going to make the argument that there was violence on both sides of this relationship that they were both involved with hitting each other this relationship which lasted 10 years. You know, previously his lawyers have said that this videotape is capturing the aftermath of a fight that they had over infidelity, so we're going to hear a lot more of that come out. We've reached out to Ventura's attorney. He declined to comment but certainly this will be explosive testimony next week as Ventura is expected to take the stand which could be as soon as Monday after opening statements.

KEILAR: And Kara, what's the latest on the jury here?

SCANNELL: So, we expected the jury to be finalized today, but coming into court there were two jurors from this pool of 45 that were excused by the judge so that brought it down to 43. The judge said he was a little concerned that before they did their strikes that some jurors might get cold feet and so he wanted to postpone that until Monday. So, Monday morning bright and early the 43 jurors will be back.

[15:20:01] The prosecution will do their strikes. They get six. Combs' lawyers

will have 10 strikes. Then, this will get down to 12 jurors and six alternates who will hear the trial. The judge will swear them in. There will be opening statements in the case where prosecutions and the defense will have a chance to address the jury for the first time. Then, the prosecution said they intend to call two quick witnesses and then Ventura will be on the stand. Brianna?

KEILAR: All right. Kara Scannell, thank you for that. Let's get some expert analysis now with CNN Legal Analyst Joey Jackson who is a criminal defense attorney.

All right. Joey, I mean we could be seeing Cassie Ventura on the stand as soon as Monday here. What will you be looking for in that testimony?

JOEY JACKSON, CNN LEGAL ANALYST: Yes, no question. Good afternoon to both of you.

I think - remember the big picture. The big picture here is consent versus coercion. If you're the prosecution, you're going to paint a picture of a person who was very controlling. Remember the essence of the charges. They're saying prosecutors are that he was running a criminal enterprise. That his entirety of his enterprise was designed to exploit whoever worked for him and to indulge his sexual gratifications. They argue - prosecutors do - that he did it by running a criminal enterprise, engaging in this sex trafficking, and coercing people, engaging in fraud, inducing them, et cetera, using guns, drugs, violence, using monetary rewards and other things.

And I think what the defense will say is that that's nonsense. There may be a tumultuous relationship. He may have practiced immoral behavior. Some may think of it that way. Some may view his, you know, appetite as it relates to women as being unusual or being different. He may even indeed be a swinger the defense may admit. But it was all consensual. Everybody knew what was happening and as a result of that he is not a criminal.

So, what we're expecting to hear from all the witnesses the prosecution that puts on is this criminal enterprise, this coercion, this fraud, this nasty behavior. And the defense will say all of you were in long-term relationships with him. You knew who he was, what you were. There was, you know, both sides that were very tumultuous to each other. And he's not criminal. He's not a criminal at all, the defense will say. And this was just the nature of how he reacted and how they interacted collectively together. They being him, Sean Combs, and whoever his girlfriend or girlfriends were at the time.

SANCHEZ: Given what you just described that the defense is going to sort of set up as this being a tumultuous relationship between the two of them, how do you think the cross-examination of Cassie Ventura is going to go?

JACKSON: Well, I think, you know, that is going to be very key because she's a critical witness. And so, I expect to say, you know, ma'am you were involved with Mr. Combs, correct? And Mr. Combs sometimes got violent with you, did he not? Right? And you were violent with him. They're going to look for the defense's will concessions (ph) as to that. And you know that you engaged in some behavior together, and that behavior could have involved other people. And at no time did you indicate that you did not like that, did not want that, or tell him to stop. Isn't that true?

So, a lot will come out in terms of what the relationship looked like, who controlled the relationship, whether she was on board with it in terms of giving her consent, whether she was not. Remember that she, in a civil lawsuit, delineated a course of conduct, right? That - those are all allegations. And I think all of that will be fair game for prosecutors to elicit the nature of relationship and for the defense to go after her saying, hey, it may have been unusual. Again, it may have been a moral, some may think. It may have been - whatever it was - but it certainly wasn't - the defense will say - criminal in any way and you were not coerced in any way.

So, there will be some intense moments to be sure when the defense ultimately gets to question her after, of course, prosecutors lay a significant foundation concerning their interactions over a long period of time.

KEILAR: Joey, the judge in the case is concerned that some prospective jurors could get cold feet before the start of opening statements on Monday. Talk to us a little bit about this decision to delay the final steps of jury selection.

JACKSON: Yes, so Brianna, I think it's the right call, right? I think the stakes are not lost on anyone and people like to speak of, and we should speak about the fact that he faces a life sentence, but the other thing we don't speak enough about is the fact that if a jury renders a guilty verdict, he faces the loss of really all of his earnings. There's an asset forfeiture provision in this particular case as we look at the five counts that he's facing, the racketeering saying he's running a criminal enterprise, the sex trafficking involving the coercion, and of course the prostitution, that all allegations.

But at the end of the day, if this jury convicts him, he could lose it all. The government - federal government - takes your money in the event they could establish that it was used for illicit purposes, and I don't think that's lost. The gravity of the moment is not lost on the judge. It's certainly not lost on the prosecution or the defense, and I think it's wise to delay it and to see whether or not jurors get cold feet, to see whether or not they are going to serve, to see whether or not they've gotten any threats, even though they, you know, excuse me, anonymous, right?

[15:25:05]

You don't want the jurors' names to get out there because you want to protect them. But I think you wait till Monday. You see what you have. You see what the nature of the commitment's going to be. You pick your 18 people. I say 18 because, yes, 12 will reach a conclusion and will sit on the jury, but there will be six alternates in case you lose jurors as the case proceeds. You have another one to pluck out of the pool to put them in.

So, I think the judge is right to be wise and to ensure that you have a jury and panel who's focused like a laser beam on a decision in this case.

SANCHEZ: On the question of their potential commitment, what is it like for jurors in a high-profile case like this? I imagine they're going to be sequestered, right?

JACKSON: So, it doesn't appear that way. Sequestration is something that is very extreme, and already we're asking a lot of jurors, right, with regard to being there all day, with regard to taking away from their lives, their work, a number of things that they may be doing. And so, sequestration is really significant. I think what the judge will do is what we call admonish them every day and say, hey, listen, I don't want you speaking to friends about it. I don't want you formulating opinions about it. I don't want you making up your mind about it. I don't want you listening to social media accounts, watching anything about the case. If you do turn it off, if it's incidental, I want to know about it.

And so, that's the way, I think, you gain control as opposed to putting them somewhere and taking away everything that they have and letting them just focus on the case itself.

SANCHEZ: A tough task ahead for those jurors. Joey Jackson, thank you so much.

JACKSON: Of course. Thank you.

SANCHEZ: Stay with CNN NEWS CENTRAL. We'll be right back.