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Amos Hochstein is Interviewed about Oil; Trump and Tariffs; Charles "Chazz" Smith is Interviewed about Prince. Aired 9:30-10a ET

Aired April 21, 2026 - 09:30   ET

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

[09:30:00]

KATE BOLDUAN, CNN ANCHOR: As Iran keeps the world guessing on whether its negotiators will be showing up for a second round of talks with the United States.

Oil prices fell slightly after President Trump said in a new interview that he expects the United States to end up with a "great deal," his words, with Iran here. The president also suggested this morning in this new interview that he is surprised that the stock market and oil prices aren't actually worse.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: If you would have told me that oil is at 90, as opposed to 200, I would be, frankly, surprised. And you know what is happening, boats are finding other sources. They're going up to Texas, to Louisiana. They're going to Alaska. They're going to other places. It's an amazing phenomenon. You know, when there are problems, people find out how to take care of things.

(END VIDEO CLIP)

BOLDUAN: Joining me right now is Amos Hochstein. He's -- was former Biden White House senior energy adviser, Mideast negotiator, and he's now managing partner at the investment firm TWG Global.

It's good to see you, Amos.

AMOS HOCHSTEIN, FORMER SENIOR ADVISER TO PRESIDENT BIDEN: Good morning.

BOLDUAN: What do you make of that from President Trump just this morning?

HOCHSTEIN: I think Donald Trump understands realities of physical markets better than Wall Street does. He's right, oil prices are lower than they should be. They're not calculating the risk. Eventually it'll all come back to haunt us. We're taking an enormous amount of energy off the markets. The U.S. is more immune than other countries are, but we're a global economy and companies are starting to reduce their -- either to reduce their output around the world or raise the prices. Either way, the consumer will pay more. BOLDUAN: I mean I even heard you say recently that in certain Asian

countries they're essentially just days away from running out of jet fuel. I mean which country is going to be first, how soon and what's the domino effect of this?

HOCHSTEIN: So, countries in southeast Asia, places like Vietnam and Philippines are struggling to manage their jet fuel resources. They also have no jet fuel that's coming in. So, they know that the longer this goes, the longer they will be without jet fuel. But that starts a contagion across the region.

And remember, American planes do not take their jet fuel with them. So, when people tell me, oh, it doesn't matter because we have jet fuel in America. Well, international flights, they got to go somewhere. They have to land. They have to refuel.

And so, what's going to happen is, this is going to sort of swing around the world if the war continues, if the Straits remain closed. And for now we see no evidence of the Straits reopening. And even if they do reopen, it will reopen slowly and under Iranian control.

BOLDUAN: Well -- and on that, I mean, the president is also saying that he believes he is facing no pressure to make a deal. "I'm under no pressure whatsoever," he wrote on social media. But the longer that -- speaking of the Strait of Hormuz, is closed, the more pressure that mounts on the United States and the world. I mean that just is fact, which then leads to one singular question, at some point needs to be answered or realized, which is, does Iran now always have some element of control of the Strait from here on out after this war?

HOCHSTEIN: So, one, it's a little bit difficult to take the president at his, you know, at face value when he says he's not under pressure. He's been pushing the Iranians to go to talks, not the other way around, trying to force them into it. Some days he says I'm not under pressure and we're going to have a great deal. Other days he says, I'm going to bomb them into, you know, oblivion. So, you kind of got to choose a lane.

Look, at the end of the day, I have no idea why we went to this war. I never understood why we went to this war. But now we're basically discussing two issues. One is a nuclear deal that we already had one, by the way, during the Obama administration, the JCPOA, that Donald Trump decided to rip up. And now we're back in the same construct, except that it will be later. So, instead of expiring in 2030, where we could have negotiated its extension, we're now going to do roughly the same kind of deal. And we know that it's roughly the same kind of deal because the president tweeted yesterday that it's not the same kind of deal, despite the fact that nobody asked that question.

The second issue, that they're discussing in these negotiations, is opening the Straits. Well, the Straits were never a problem before this war. So, we created a crisis and now we're negotiating how to unresolve a -- or resolve a crisis that we created.

And remember, Iran is going to control the Straits. They never had this card before. Now they do. You cannot put that genie back in the bottle, no matter what the negotiations say.

So, for -- and that is a leverage not against us necessarily, but against their own neighbors in the gulf and against the global economy. So, the world is going to be suffering the consequences of this conflict that they were not part of.

[09:35:01]

And we decided to go it alone in this war. So, we did this ourselves. And now the rest of the world is paying the price. And eventually that is also going to mean that we have to pay the price.

BOLDUAN: Let me ask you, speaking of price in a very different aspect, because you were involved in the JCPOA. You understand what went into that negotiation.

The president, as part of this, is also kind of returning to this theme of accusing the Obama administration of flying planeloads of cash to Iran and saying that he's furious about it, though everyone is also reporting that he is considering releasing $20 billion in frozen Iranian funds as part of a deal here. Should people be mad about that?

HOCHSTEIN: I think people should be mostly confused, bewildered. Why are we in this war? What are we -- what are we doing here? And now Iran is going to -- we're now exposing Iran as the -- or treating them as though they're some kind of ten-foot giant. We're going to give them roughly $20 billion of frozen assets, which is more than three times what they were able to have access to under the previous agreement ten years ago. The administration already gave them sanctions relief during the war by removing -- waiving the sanctions on Iranian oil on the water, which means they made about $180 million per day during the war while the rest of us were paying more money for oil products. Now we have the blockade. But at the end of this, there's no way this war ends with a deal that doesn't include, one, access to money and, two, sanctions removal, which means they'll be able to start reinvesting in their own systems.

Look, I'm no fan of this war. I'm confused by it. But I'm also no fan of Iran. Iran is an evil regime that has enormous amount of blood on its hands of everyone, you know, Arabs, Muslims, Jews, and Americans most of all. And so -- or most importantly. And so, I don't want to see them benefiting here. And -- because they've used their resources towards really horrific consequences.

So, we entered a war. Now Iran may benefit from that war in the long term, despite the fact that they have had their infrastructure and their military diminished for the moment. But they are, in some weird ways, they are stronger today than they were before the war because they've consolidated their power in the country and they have stood up to the largest military in the world, the United States, and the strongest military in the region, Israel, and they survived. And that's all they needed.

BOLDUAN: Yes, is a military defeat in the end a strategic victory for this regime. We will see.

It's good to see you, Amos. Thank you so much for jumping on.

Today marks one decade since the death of music legend Prince. And right now his hometown is planning a huge celebration of life. What's happening in Paisley Park today? We'll have that for you.

(COMMERCIAL BREAK)

[09:42:33]

SARA SIDNER, CNN ANCHOR: In a new interview this morning, President Trump says he will remember U.S. companies that do not seek refunds for the tariffs that he put in place. His comments come a day after a refund system for businesses that paid tariffs launched. That system was put in place after the Supreme Court struck down the president's most sweeping tariffs in February.

Here's exactly what the president said.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: If they don't do that, I'll remember them. I will tell you that. Because I'm looking to make this country strong. The Supreme Court could have helped us.

(END VIDEO CLIP)

SIDNER: So, he says he'll remember that. That could be seen by companies who do ask for the tariff relief as a veiled threat. We'll see what happens. But CNN chief data analyst Harry Enten joins us now and he's got some solid numbers here.

Harry, just how pivotal were tariffs to Trump's sort of political standing in his second term?

HARRY ENTEN, CNN CHIEF DATA ANALYST: Just take the "L" man, just take the "L." The tariffs were the biggest unforced political error that I can recall in a long period of time. Because if you're looking for just one turning point in terms of when Donald Trump went underwater, it was right around liberation day. Man, just take a look here. Trump's negative net approval rating. Every poll since March 29, 2025, right? Liberation day was just a few days later. That means that Donald Trump, there hasn't been a single poll that meets CNN's standards for reporting in which he has had anything but a negative net approval rating for 389 days. As I said, dude, just take the "L." Tariffs are a terrible political thing for you, my man.

SIDNER: Why were the tariffs really this sort of key to seeing this downturn in the polls.

ENTEN: Yes, because, you know, Trump, obviously, he ran on tariffs, right? But the idea was much more popular in practice than it actually -- or as an idea than it actually was in practice because, just take a look here. I mean, this just gives you the name of the game. Americans on Trump and tariffs in the 2024 election versus Kamala Harris. Look at this, Trump was trusted more on tariffs by 12 points. But look at his net approval rating now. Look at that. That's an over 40 point shift away from the president of the United States. He's 48 points underwater with independents on tariffs. This is just a political disaster. And the longer he drags it out, the more and more it can hurt his political standing.

SIDNER: Well, it certainly hurt the economy's, not just the people's pockets, businesses pockets, but also the world.

ENTEN: Yes.

SIDNER: Did anyone benefit from this when it comes to just like global leadership?

ENTEN: Yes, the people who stood up against Donald Trump, that's who benefited from it.

[09:45:03]

I mean, just take a look here. I mean, Mark Carney, obviously, in Canada. Look at this. His net approval rating, plus 24 points. How about the president of Mexico, Claudia Sheinbaum. Look at this, plus 41 points on the net approval rating. So, the people who stood up to Trump on tariffs, those are the people who benefited, versus Donald Trump. When he went up against these world leaders, well, he just went right straight into the political basement.

SIDNER: Because you can put money on just about anything these days, you know, when these companies are looking at these, prediction markets are looking at this, what do people think about whether or not these companies are going to try to get relief?

ENTEN: Yes. OK. So, the companies at this point are trying to get political relief, Sara Sidner, but what about the people themselves, right? What about the chance that you actually get a stimulus check, you know, sent out by the end of 2026? The chance has been going down. It was 44 percent. Look at this. It's now 11 percent. So, the American people aren't going to get relief, at least according to the prediction markets, on something that they desperately hate very, very much. I said, a political disaster for Donald Trump from start to finish.

SIDNER: Yes. There was a $2,000 check that people had heard him say. This was sort of around the time when he said it. And now they don't think it's going to happen.

ENTEN: It ain't happening.

SIDNER: Harry Enten, you know what's happening? You are, buddy. You are.

ENTEN: I'm happening. We're happening.

SIDNER: All right. We'll be right back.

(COMMERCIAL BREAK)

[09:50:46] SIDNER: Today marks ten years since the world lost the musical marvel, his "Purple" highness, Prince. The music icon was found dead at his Paisley Park home in Minnesota in 2016. Cause of death, fentanyl overdose. He was just 57, but his sound, his style, his fearless creativity, well, those will never die.

(BEGIN VIDEO CLIP)

PRINCE, MUSICIAN (Singing): She wore a raspberry beret. The kind you find in a second-hand store.

(END VIDEO CLIP)

SIDNER: I think I have every single one of his albums.

Prince was famously private, though, but when he did a sit-down interview, he was candid, especially about letting the music speak for him.

Here's what he told Larry King in a rare interview.

(BEGIN VIDEO CLIP)

PRINCE: I think the media plays a big part in ones perception of me. Until one sits down and actually talks to me, they can't really know me.

LARRY KING: Well, should you have been more public? Should you have done more of things like this?

PRINCE: No. I kind of did what I wanted to do. I wanted my music, as even now, to speak loudest for me.

(END VIDEO CLIP)

SIDNER: That was the year that his album "1999" came out.

Today, though, is also about the truth of how his life ended. Prince's death stunned everyone, fans. And it raised some hard questions about pain, addiction, and oversight. Now his family is pushing for answers, saying more should have been done and that someone should be held responsible.

Joining me now is Prince's cousin, Charles "Chazz" Smith.

Thank you for being here. I see those drums out early this morning there in Minneapolis.

CHARLES "CHAZZ" SMITH, PRINCE'S COUSIN: Thank you, (INAUDIBLE).

SIDNER: Look, five people were charged in August 2024, Charles, in connection with the fatal October 2023 ketamine overdose of actor Matthew Perry. A doctor in that case pleaded guilty for providing Perry ketamine.

You, for ten years now, you've been fighting for justice for your cousin, Prince, because, as you see it, there was someone behind his deadly fentanyl overdose. What does justice look like to you?

SMITH: Thank you, Sara, again for the opportunity to be able to speak. And I appreciate this platform that I'm getting ready to tell you guys.

I really, really, really can't even tell you how much information has come to us after we started the investigation as far as details and things that were placed in certain areas and time and opportunities to be able to get some help, if Prince would have needed it. It's just too much. Too much that was there and not enough to me, enough time taken to really check behind things that should have been checked on. People quit talking. I myself started running around knocking down doors and talking to people. I had total opposition to what I was trying to do. People seemed like they didn't really want to help or talk or anything like that. But there were some that did, and I really appreciate that.

SIDNER: You --

SMITH: So, I -- we -- you know, the whole thing with --

SIDNER: Go ahead.

SMITH: Oh, I'm sorry.

No, you go ahead.

SIDNER: You started this Justice4cuz site, website, where you've been asking people to share any information they might have as to how he ended up a hold of these pills that had fentanyl in them. They were not prescribed. They were not in his name. And they were -- clearly came from the streets.

I, you know, I want to get some sense of, for you, what do you want to see happen?

SMITH: To be really honest, quite frankly speaking, I'd really like to see the people that actually really gave those pills to Prince serve some type of time. I know that -- I'm not trying to say everything's one person's fault. I think there was a multitude of people that were -- that were a part of this. But I -- it's sickening to me.

[09:55:01]

SIDNER: You are still so devastated by this and you've been working on this for a long time, for ten years. But let's bring it to a place where Prince would have wanted it to go, as you have told me many times. He was a person that liked to celebrate. He liked to celebrate music.

You had some wild times with Prince. You were part of his first band called Grand Central.

SMITH: Yes, ma'am.

SIDNER: Tell me the story about you, Prince, and learning the drums. SMITH: Boy, that's the thing. Me learning the drums. I really had no

lessons or anything like that. There were a couple cool cats in our neighborhood that had drum sets, and they would allow Prince and I to walk in and jam. And me on the drums. Prince would watch me intensely. And I'm not saying that I had anything to do with how he became who he became as far as like a percussionist, but he sure became a great drummer. I used to try my best to keep him from being able to practice, because I seen what he had done on other instruments. So, I was -- I was already hip to, if he got on the drums, he might get better than me on them and -- which eventually he did. And I had to -- I had to bow own to the king.

SIDNER: You told me that he said, like -- you told me -- you told me, he said that he was -- he watched you and he was like, I can do that in a day. And then he did. Is that really what happened?

SMITH: Oh, yes. Oh, yes. And he -- yes, that's real. Every day I would leave from practice, he would stay afterwards and I would hear -- I'd get about a half a block away from Andre Cymone's house and I'd hear the drums going. And I'd go, didn't I tell him not to touch the drums? I go right back. Maybe I just was over -- I'm two years older than Prince, so I was -- I always kind of was trying to tell him what to do. But he was one that you couldn't tell what to do. He kind of did his own thing.

So, he -- no matter what I did, I took parts of the drums home with me so he couldn't continue, but he still made a beat. I took the foot pedal away. He still made a beat off the foot pedal. So, I just gave in and said, Prince, just play the damn drums. I just left him. So he could just (ph) see the development.

SIDNER: We get that.

All right, Chazz, play us out a little bit as we end the show here.

SMITH: Hey, come on.

SIDNER: And there you go, Kate.

BOLDUAN: And there you go. He can join us every day to play us off. This is quite a day in honoring Prince all the way.

Thank you so much. That was so fun.

Thanks so much for joining us. This is CNN NEWS CENTRAL. "THE SITUATION ROOM" is up next.

(COMMERCIAL BREAK)