Return to Transcripts main page
One World with Zain Asher
CNN International: China Raises Retaliatory Tariffs On U.S Imports To 125 Percent; U.S.-China Trade War Escalates As Trump's Tariffs Rattle Markets; Trump Optimistic U.S. And China Will Make Tariff Deal. Aired 11a- 12p ET
Aired April 11, 2025 - 11:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[11:00:00]
BIANNA GOLODRYGA, HOST, "ONE WORLD": Whiplash on Wall Street, as China hits back. One World starts right now.
Investors are closing out an incredibly volatile week. This as the tit for tat trade war between China and the United States is escalating. Plus,
President Trump's foreign envoy Steve Witkoff is in Russia, where he is meeting once again with Vladimir Putin. And I'll speak to Wendy Sachs, the
director of the new documentary "October 8", which explores the rise of antisemitism in America.
Hello, everyone. Live from New York, I'm Bianna Golodryga. Zain is off today. You are watching One World.
Well, China is firing a new salvo in the rapidly escalating trade war between the two of the world's top geopolitical superpowers and economic
superpowers that could signify a much bigger battle for dominance. And global markets are responding to all of this uncertainty. On Wall Street,
now you have a fairly muted open where you have actually the Dow up a quarter of a percentage point, the same for the S&P 500, and about half a
percentage point up for the NASDAQ. In Europe, stocks are mixed after opening in positive territory as well.
Now, earlier today, Beijing announced that it is increasing tariffs on American imports to 125 percent after Donald Trump clarified on Thursday
that he is raising U.S. levies on China to 145 percent. Now, in his first public comments since the trade war began, a defiant President Xi Jinping
says China is not afraid, and a spokesperson for the Commerce Ministry warned that while tariffs against the United States won't go any higher,
Beijing has other ways of inflicting pain.
And Asian markets, meanwhile, closed mix, but that's happened before President Xi's announcement.
Still, despite the escalation and the economic chaos that's unfolding, the U.S. President, well, he is saying it's all going very well.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT, UNITED STATES OF AMERICA: We had a big day yesterday. There will always be transition difficulty, but we had a -- in
history, it was the biggest day in history, the markets. So, we're very, very happy with the way the country is running. We're trying to get the
world to treat us fairly.
(END VIDEO CLIP)
GOLODRYGA: CNN's Alayna Treene is at the White House, and Anna Stewart joins us live in London.
Anna, let us start with you. We see yields on the Treasuries continue to go up. Typically for U.S. Treasuries in times like this, in uncertainty,
especially, you see a flight to safety, which we would see the opposite happen. Yields actually going down. That's not the case now. You also see
the dollar retreating, gold at an all-time high. Just walk us through the sentiment now being felt by investors.
ANNA STEWART, CNN CORRESPONDENT: Yes. So, while Wall Street is sort of struggling to find direction today, we are seeing much more interesting
moves, and some of what I would call recession indicator assets, like the 10-year Treasury. As you say, this is normally a safe haven during times of
volatility, but we're seeing the 10-year yield above 4.5 percent. That was under four percent Friday last week. So, that's a significant increase.
It's the highest it's been since mid-Feb.
And this just goes to show that there are questions being raised, perhaps, about the credibility of the U.S. and how safe it is even on a longer-term
trajectory. The U.S. dollar hit its weakest level in years against the euro earlier today, and it's still struggling as well. And as you say, we are
seeing some safe haven assets like gold, also the Swiss franc, much higher today as a result of all of this. Now, this just goes to show that
recession fears are still very much baked in.
But, in addition to that, I think the question now is one of, how much liquidity does the U.S. have? We're almost going to kind of the next step
of concern from investors at this stage, and unsurprisingly, given how much ratcheting up we've seen of tariffs, particularly between China and the
USA, and also just all of that uncertainty around trade policy from the U.S. President.
GOLODRYGA: All right. Anna Stewart, what a way to end the week, and I would imagine we're expecting more volatility and uncertainty next week as well.
Let's go to Alayna Treene at the White House. And what really caught my attention, maybe it's still PTSD from covering the word "transitory" under
the Biden administration in terms of how they initially described inflation, which remains stubbornly high, here you have the President
justifying all of this as a transition. I'm not so sure the markets that investors, that global trading partners, are feeling as secure about this
just being a transitionary period right now. We heard from Jamieson Greer, the Trade Representative, saying that while talks with China have not
begun, it is the President of the United States that would actually like a phone call with Xi Jinping. What are the latest headlines you're hearing
from the administration?
ALAYNA TREENE, CNN WHITE HOUSE REPORTER: Well, there are a couple things. And I agree with you, Bianna. I thought those comments yesterday about it
being a transition were very notable in part because it actually was less optimistic. It was more of a sober view of things than he had been before,
but of course, still far more optimistic than most of America and many people on Wall Street, Capitol Hill, the list goes on, are feeling about
where the economy is right now.
[11:05:00]
But, to get back into you know where things stand with China, specifically, one is that we know actually, and this is from our great reporting from our
colleague, Kylie Atwood, that in the hours before China had actually escalated and put more tariffs on the United States, there were some
conversations between people in the Trump administration and China, and essentially the U.S. warned China not to move forward with exactly what
they ended up doing.
But, at the same time, I can tell you from my conversations behind the scenes, it is very clear to me, I talked with two White House officials
yesterday on this, that the President really wants to have a phone call with President Xi first. That is where they want this to begin. China has
made it clear that that is not something that President Xi wants to do. They want them to be lower-level talks, more staff-level talks. But as
well, those have not yet happened. And I know as well from my conversations with those officials that the President has told his team, told his
advisors, told his trade aides that he does not want the U.S. to reach out to China first, that essentially they expect China to come to the United
States. Now, clearly, this does look like a game of who will blink first.
But, what's becoming increasingly clear, Bianna, is that this position is going to be untenable, what is happening now with the escalation of these
tariffs. You mentioned a 125 percent on the U.S. The U.S. putting 145 percent on China. There is going to need to be some sort of movement to
open communications between the United States and Beijing, and it's really a question of how much pain, I think, both sides are willing to endure
while they stay away from some of these broader talks.
Now, one thing as well, I think that's also very notable, is that earlier this week, the President himself had said that he believes that China wants
to make a deal. They just don't know how quite to go about it. He said that they are proud people. I know as well from my conversations with people at
the White House that the President thinks that President Xi Jinping does not want to be viewed as a weak. He thinks that's why he is not reaching
out to him.
So, again, we're kind of -- I think the biggest issue right now, when we look at the broader tariffs and where to move forward, is what is going to
happen between these two countries. When will they finally sit down and talk? I asked Jamieson Greer this morning at the White House about that. He
said they are not having discussions right now, but unclear when that might start. Bianna.
GOLODRYGA: And how much market sell-off and --
TREENE: Right.
GOLODRYGA: -- the fallout from it are they willing to take, both sides, and here you have a situation where you've got two of the world's largest
economies and superpowers really playing a game of chicken at this point. It seems to be very, very reckless and dangerous --
TREENE: Yeah.
GOLODRYGA: -- given the results we've seen thus far.
Alayna Treene, Anna Stewart, thank you so much.
Well, Michael Froman is President of the Council on Foreign Relations, a former U.S. Trade Representative in the Obama administration. He joins me
now live in New York. Michael, good to see you.
MICHAEL FROMAN, FORMER U.S. TRADE REPRESENTATIVE IN OBAMA ADMIN., & PRESIDENT, COUNCIL ON FOREIGN RELATIONS: Good to be with you.
GOLODRYGA: I guess the question that comes to mind is, how long-lasting the impact and damage is to the United States' credibility? Whether -- when you
talk about the fact that yields have continued to gone up -- go up on the 10-year Treasury bond, the dollar is going down, everyone is looking for a
flight to safety, and it is not here in the United States, how long-lasting is that? I spoke with former Treasury Secretary Janet Yellen yesterday, and
asked her about the longer-term consequences. Here is what she said.
(BEGIN VIDEO CLIP)
GOLODRYGA: Have foreign investors lost faith, in your view, in the credibility of the United States?
JANET YELLEN, FORMER U.S. TREASURY SECRETARY, AND FORMER CHAIR, U.S. FEDERAL RESERVE: Well, I think they're asking hard questions about the
credibility of U.S. policy and what role the U.S. will have going forward in the global economy, whether or not we'll have predictable economic
policy and remain a strong, positive global force, and we saw that playing out over the last several days.
(END VIDEO CLIP)
GOLODRYGA: She also noted that this administration that inherited what was described as an economy that was the envy of the world, and yet here we
are. What have you heard from global leaders and investors from your perch now and former colleagues, given your time in trade and working on trade
for President Obama?
FROMAN: Well, I agree with Secretary Yellen that those are the questions that people around the world are asking, and I think they're looking for a
couple of things over the coming weeks. One is, how does the President and the administration use this 90-day pause? Are there a series of bilateral
negotiations with the other countries to reduce the tariffs on a reciprocal basis? What's the end point? If the end point is a 10 percent tariff that
the U.S. imposes, well, that's a 500 percent increase of our existing average tariff. So, that's not a great outcome. That's the kind of tariff
that Venezuela, North Korea, Iran, have on their products.
[11:10:00]
Those aren't tend to be economies that other countries envy. And then, of course, they'll be looking to see what happens in the U.S.-China
relationship. As you've discussed this morning, there is a lot of chicken going on here, playing a game of chicken as to who is going to be forced to
make the first phone call. China likes these meetings and these calls to be well prepared in advance by lower-level officials. And so, at some point,
hopefully there is some real dialog, some meaningful dialog going on between the U.S. and China to begin to sort through these issues so they
can climb down from the escalation that we've seen.
GOLODRYGA: I know you speak to a lot of world leaders. You hear from this administration, from the Treasury Secretary and the President on down, that
a number of countries, some 70 plus countries, have come forward, saying they want to make a deal. The President has yet to name specific countries.
Without you revealing your sources, I know you're speaking to these same world leaders, are any of them expressing the amount of confidence and
coming forward with the deal in the United States, the way this administration is at this point?
FROMAN: Well, I think they're all hoping to sit down and begin to negotiate. They had actually -- even before tariffs were being imposed,
even before the President was inaugurated, leaders from around the world were asking themselves, what do we need to do to cut a deal with President
Trump and this administration? So, they are eager to sit down. And the question is, what will they be able to accept, and what will the U.S. be
demanding of them? If it's a reduction in tariffs that are out of line, that's one kind of negotiation, relatively easy negotiation. If it's to get
them to get rid of their back tax system, which they rely on to fund their governments, that's a very different kind of demand, and not something that
will be resolved quickly.
GOLODRYGA: Non-tariff trade barriers is what you're talking about, and that's what --
FROMAN: No.
GOLODRYGA: -- people like Peter Navarro and others are saying, listen, this is what we're going after. It's very easy to just bring your tariffs, your
trade tariffs, down to zero. They want to go after the VAT in some of these countries.
FROMAN: By the way, it's not so easy to bring tariffs down, because every tariff represents some sector of the economy that has enjoyed protection,
why trade agreements take so long, traditionally, to negotiate, but we'll be able to -- we'll be interested to see whether this administration
approaches it in different way. There are non-tariff barriers, like regulations that stand the way, but then there is the whole tax system, and
this administration has also identified issues like the VAT tax that a vast majority of the countries around the world have that they view as a trade
barrier. These other countries do not view this as a trade barrier. It's simply their way to fund their government because it applies both to
domestic products and to imported products.
But, that's going to be a big issue if this administration insists on other countries revisiting their taxation system.
GOLODRYGA: Michael, has the President not shown his hand in some way by revealing that he is not willing, at least at this point, to have the
global economy blow up? And so, from that regard, when you're talking about countries specifically like China and other large economies, does that
disincentivize them from coming to the table with a larger scale deal at this point? I mean, won't they want to negotiate a better deal too, and
perhaps wait it out?
FROMAN: I think there is a lot of uncertainty around the world about what the President and this administration is really seeking to do. Is it to
have a wall of tariffs that are put in place more or less permanently in order to encourage companies to move their manufacturing and their
production and their supply chains to the United States? Is it as a source of leverage to be given up in a negotiation over other issues? And the
President and the administration have been on all sides of this question over the last several weeks.
It's this uncertainty that I think creates a credibility issue, because while the other countries very much want to negotiate with the United
States, they very much want access to the U.S. market. It's a very valuable and attractive market, as the President has said. They don't know what the
President's true intent is here, and frankly, the administration's position changes sometimes hour by hour.
GOLODRYGA: Note that that is definitely true, and the iron is not lost, Michael, that the question over confidence in the U.S. economy and the U.S.
markets at a time when the President has sold these tariff plans as a way for companies to move their production here to the United States, that
that's not instilling much confidence for companies to do that when you are really questioning what the next day will look like, from an administration
and from a country and economy as large as ours.
FROMAN: I think the administration might argue that the uncertainty actually helps, because with all the uncertainty about what's going to
happen with tariffs, the only certain thing a company can know is that if they move their production to the United States, they're not going to be
subject to a tariff. But, I think companies are standing on the sidelines right now. These are big decisions to allocate capital. It takes years to
move factories for most sectors, for most industries.
[11:15:00]
Some industries can do that relatively quickly. Textiles, apparel can sometimes move factories quite quickly. But, if you're going to build a
whole new auto parts or auto production supply chain, that takes years, and I think the President has a challenge ahead of him, a political challenge,
which is that the impact, the cost of these tariffs, however long they last, are going to be felt by everybody, every consumer, and everybody who
uses an import as part of their manufacturing process. And it's going to be very visible.
Whereas, the benefits, if there are benefits to this approach, if he is successful in driving production to the United States, that's going to take
years, and it's going to affect relatively few workers and relatively few sectors, and that kind of mismatch, both of timing and where the benefits
and costs are allocated, that's a very difficult thing for an administration to manage.
GOLODRYGA: Yeah. Janet Yellen yesterday was citing one source that said that with these tariffs in place, the average American household could be
paying an additional $4,000 a year. That is a lot of money, Michael. And one way of addressing a deficit, a trade imbalance, which is what this
administration is so focused on, is to just stop having consumers spend money. And I'm wondering how -- given your history in working in
administration, how closely an administration follows headlines and data like what we just got about an hour or so ago, and consumer sentiment in
the United States plunging to a decades-low level? How worrisome is that for a U.S. government?
FROMAN: I think it's quite worrisome. I mean, there were inflationary pressures, to begin with. The President ran in part on a campaign
criticizing the Biden administration for high inflationary policies. Virtually, all the policies that the President is pursuing are pro-
inflation in terms of putting on tariffs, more tax cuts and reducing immigration, all of which put pressure upward on prices. When prices go up,
sort of by definition, people buy less, and when they buy less and there is less demand, and you see this decline in consumer and investor sentiment,
that can have broad macroeconomic implications, including why many, many analysis -- analysts have raised the prospects of a recession, and that
should be a great concern for the administration
GOLODRYGA: Yeah. And most everyone, I mean, from JPMorgan to Janet Yellen, from Goldman Sachs, I mean, all of their forecasts for a recession have
gone up significantly over the past couple of weeks. Also a headline out of this report today, consumers' expectations for inflation in the next year
surged ahead to 6.7 percent. That is the highest reading since 1981. So, not many good headlines out there these days.
But, it is always good to see you, Michael Froman. Thank you so much for joining the program.
FROMAN: Thanks for having me.
GOLODRYGA: We've got much more on this story coming up in our next hour. The Chairman of O'Leary Ventures, Kevin O'Leary will join us to talk about
what all of this economic chaos means for stocks in your 401(k). That's in the next hour of One World.
Ahead for us, a top White House envoy is in Russia, talking with Vladimir Putin about the Ukraine war. We're watching for any developments, and we'll
bring you a preview of those conversations, ahead. Plus, the U.S. Supreme Court weighs in on that man who was deported by accident. We'll tell you
about a ruling that has both sides now claiming victory.
(COMMERCIAL BREAK)
[11:20:00]
(COMMERCIAL BREAK)
GOLODRYGA: Ukraine's allies are pledging nearly $24 billion in new military aid for Kyiv. At a gathering today in Brussels, Britain's Defense Chief,
who co-hosted the Ukraine Contact Group meeting, called it a record boost for Kyiv's defense against Russia, and there is more money on the way from
Berlin.
(BEGIN VIDEO CLIP)
BORIS PISTORIUS, GERMAN FEDERAL DEFENSE MINISTER: As far as Germany is concerned, I can say this. The German parliament has agreed to provide an
additional funding package. More than 11 billion euros will be made available in the years until 2029, in addition to what we have pledged so
far.
(END VIDEO CLIP)
GOLODRYGA: There was a noticeable absence at the table in Brussels. U.S. Defense Secretary Pete Hegseth only attended virtually.
Well, a face-to-face meeting is underway right now in Russia. One of Donald Trump's top envoys, Steve Witkoff, is talking with Russian President
Vladimir Putin. Here you see them shaking hands. They're expected to talk about the war in Ukraine, and a potential Putin-Trump meeting could also be
up for discussion.
CNN's Fred Pleitgen is tracking all of this for us. And Fred, there seems to be a pattern here, because we just saw an American, who was wrongfully
detained in a Russian prison, swapped for a Russian prisoner here, and this, I think if I'm not mistaken, has happened in the past, and then
ultimately led to meetings like this between these two, the President's representative and envoy and Vladimir Putin. Talk to us about what was on
the table today.
FREDERIK PLEITGEN, CNN SENIOR INTERNATIONAL CORRESPONDENT: Yeah, or on the heels of those meetings. And think you're absolutely right, Bianna, that
these prisoner swaps or prisoner releases certainly are seeming to become something like almost like a catalyst, if you will, as the Trump
administration, the Putin administration, try to build up relations with one another. The Russians call it trust building, actually, between these
two sides.
And of course, what we saw in February, for instance, when that first phone call happened between President Trump and Russian President Vladimir Putin,
that at that point in time, Steve Witkoff was also on the ground in Moscow. And then later, when he departed Russia, he had Marc Fogel, the American
teacher, with him on the plane and took him back to the United States. Now, yesterday, of course, we had the release of Ksenia Karelina, who is now
also back on American soil. And the Russians themselves are also saying that this is an important part of the new relationship that they believe
the Trump administration is trying to build with them.
Let's listen in to what the Russian Foreign Minister had to say.
(BEGIN VIDEO CLIP)
SERGEY LAVROV, RUSSIAN MINISTER OF FOREIGN AFFAIRS (Interpreted): This is the second such exchange in the last few weeks, and I think it helps to
strengthen the trust that is so necessary, but it's going to take a long time to finally rebuild it. I think we shouldn't get deluded, but aiming
for normalization on the basis of mutual recognition and respect for the national interest of each country is realistic and necessary.
(END VIDEO CLIP)
PLEITGEN: So, Sergey Lavrov sort of putting things into perspective from the Russian side, saying all this is going to take a long time, and I
think, Bianna, that's something that the Trump administration is also now finding out. You mentioned some of the topics that are on the table today.
The Russians are saying it's going to be about the war in Ukraine, the conflict in Ukraine, but then also, of course, about trying to rebuild
bilateral relations between Russia and the United States.
And there are certain -- seem to be some signs that, at the very least, President Donald Trump's patience appears to be wearing a little bit
thinner than it was before. He just posted on Truth Social, a social media platform, saying Russia has to get moving. Too many people are dying in all
caps, THOUSANDS A WEEK. And then he goes on to say that the war never should have started and wouldn't have started if he were President at the
time, which is, of course, something that we've heard from him repeatedly in the past.
But, one of the things that the Trump administration seems to be frustrated by is the slow pace at which things are moving forward.
[11:25:00]
Of course, they wanted to have a full ceasefire between Russia and Ukraine in place already, and to then work through the issues that caused the
conflict in Ukraine. And of course, we know that right now we're nowhere near that, Bianna.
GOLODRYGA: No. We are not.
Fred Pleitgen, thank you.
Well, the U.S. Supreme Court says the Trump administration needs to at least have tried to bring home a Maryland man who was wrongfully deported
last month. The high court said Thursday that the U.S. government needs to facilitate the return of Kilmar Abrego Garcia from a notorious prison in El
Salvador. But, the court did not make it clear exactly how that's supposed to happen or give the government a deadline. The ruling had both the
administration and Garcia's legal team declaring victory.
We get more now from CNN's Priscilla Alvarez.
(BEGIN VIDEOTAPE)
PRISCILLA ALVAREZ, CNN CORRESPONDENT: The Supreme Court on Thursday delivering a ruling that was a victory, both for the attorneys of Kilmar
Abrego Garcia, the Salvadoran national who was mistakenly deported to El Salvador last month, but also for the Trump administration, and now all of
this still with so much more to come.
But, to break down the ruling, the Supreme Court said that the government must facilitate the return of Abrego Garcia, but stopped short of requiring
his return. The Supreme Court not setting any deadline and also sending this back to the lower court and emphasizing the due deference on foreign
affairs, and that is where this is a practical win for the Trump administration. The Justice Department saying in a statement, quote, "that
it gives an exclusive prerogative of the President to conduct foreign affairs". Now, for the attorney of Abrego Garcia, he said that the rule of
law prevailed here with the Supreme Court order, again, because it calls for the facilitating of his client's return, and urged the government to,
quote, "stop wasting time".
Now, there is going to be a hearing in this case again in the lower court Friday afternoon. So, we'll see what more comes of that, particularly with
regards to the details of how the administration would go about facilitating the return of Abrego Garcia. Remember, the administration's
position has been that he is in Salvadoran custody, not U.S. custody. Therefore, they can't retrieve them. The federal judge in this case has
previously said and questioned whether that is true, given that the administration has given funds to El Salvador for this effort of detaining
migrants. So, we'll see how all that unfolds this afternoon.
But again, the Supreme Court ruling leaving some wiggle room for the administration when it comes to the return of Abrego Garcia, but his
attorney still optimistic and hopeful that the government will at least start to move toward retrieving him. Back to you.
(END VIDEOTAPE)
GOLODRYGA: All right. Ahead for us on One World, there is a fast-moving battle underway to dominate the electric vehicle market. Why Elon Musk's
Tesla could be feeling the heat?
And we're learning more about Thursday's horrific accident when a helicopter plunged in the Hudson River, killing everyone on board. The
latest on the investigation, just ahead.
(COMMERCIAL BREAK)
[11:30:00]
(COMMERCIAL BREAK)
GOLODRYGA: Welcome back to One World. I'm Bianna Golodryga in New York. Here are some international headlines we're watching today.
The death toll from the nightclub roof collapse in the Dominican Republic now stands at 225, with at least 189 others injured in Tuesday's disaster.
Authorities say the search for survivors is now over, with the task now to return the bodies of the dead to their loved ones. Still no word on the
cause of the disaster.
The IDF says Israel has ordered people in parts of Gaza City to evacuate, ahead of military operations there. Now, the warning is for neighborhoods
that lie in an area recently identified by CNN as part of a buffer zone. Israel is creating to separate Palestinians from Israeli communities along
the Gaza border.
Well, U.S. authorities say a business executive from Spain, his family and their pilot, all died when their helicopter crashed into the Hudson River
on Thursday. A family of five were taking a sightseeing helicopter tour over New York City when disaster struck. The cause of the crash is under
investigation.
China's latest move in the mounting trade war with the U.S. is roiling markets and raising concern about a potential recession. Some Asian stock
markets fell heavily on Friday, while European stocks are having a mixed day. U.S. markets opened lower as a wild trading week ahead -- trading week
heads towards a close, and we're likely to have another one next week.
Well, the trade war between the U.S. and China is escalating. Beijing hiking its retaliatory tariffs on U.S. goods to 125 percent from 84
percent. The Trump administration's trade representative, Jamieson Greer, says the U.S. hasn't reached out to China to start negotiations. Chinese
President Xi Jinping is one of many people who have said recently that there are no winners in a trade war. He was speaking for the first time
since the U.S. President raised tariffs on Chinese goods to a massive 145 percent. But, Donald Trump still sounded optimistic during Thursday's
cabinet meeting with his cabinet.
(BEGIN VIDEO CLIP)
TRUMP: We think we're in very good shape. We think we're doing very well. Again, there will be a transition cost and transition problems, but in the
end, it's going to be a beautiful thing.
(END VIDEO CLIP)
GOLODRYGA: Let's focus on one industry where that U.S. China rivalry is playing out, the race to rule the EV market, and Chinese electric carmaker
BYD is gaining ground on Tesla, as CNN Marc Stewart shows us.
(BEGIN VIDEOTAPE)
MARC STEWART, CNN CORRESPONDENT (voice-over): On the streets of Beijing, a fast-moving battle within a much wider trade war. As tit-for-tat tariffs
drive the world's two largest economies apart, the U.S. and China are racing for dominance of the global EV sector. Leading that race, Tesla in
the U.S., BYD for China, and because of already existing tariffs, BYD isn't even in the U.S. market.
UNIDENTIFIED MALE: Look, I mean, this is an arms race that's playing out, and I think the fact that they have been able to be so successful and not
be in the U.S. is just that much more impressive.
STEWART (voice-over): As Tesla slides toward one of its worst quarters in history, BYD, which stands for Build Your Dreams, has become Elon Musk's
nightmare.
STEWART (on camera): What is it that BYD is doing that's really setting it apart?
UNIDENTIFIED MALE: The silver bullet of success with BYD has been price, being profitable at lower cost vehicles with massive technology, and they
figured out a formula that others were trying to replicate and can't really do it.
STEWART (voice-over): BYD is comparatively affordable.
[11:35:00]
An entry-level model costs around $10,000 in China, one third the price of the cheapest Tesla.
STEWART (on camera): These cars are basic but comfortable and filled with technology. And unlike Tesla, you can get it in hybrid or full-electric.
STEWART (voice-over): When it comes to sales, BYD brought in a reported $107 billion last year, beating Tesla by 10 percent.
UNIDENTIFIED MALE: I mean, when those came to the U.S., they've been massive sellers.
STEWART (on camera): But, here is the thing. If you want to buy a BYD in the U.S., you won't find a dealership like you can here in China. They have
essentially been locked out of the American markets.
STEWART (voice-over): Analysts point out that BYD's success is coming as Musk appears distracted in D.C. BYD founder and CEO, Wang Chuanfu, is also
important to his country's own leadership, which has spent billions subsidizing the EV sector.
For Beijing, BYD now serves as an example of how a strong Chinese company with a good product can thrive completely outside the U.S., but it still
relies on its home market for some 90 percent of its sales. Now, BYD must drive beyond China if it's going to put Tesla in the rear-view mirror.
Marc Stewart, CNN, Beijing.
(END VIDEOTAPE)
GOLODRYGA: Up next for us, the impact of October 7th through the lens of the new documentary "October 8". We speak to the filmmaker exploring the
global repercussions of the Hamas terror attacks in Israel. Plus, a judge could make a key ruling at a hearing for the Palestinian activist who is
facing deportation from the U.S. We'll have the latest on the case, up next.
(COMMERCIAL BREAK)
[11:40:00]
(COMMERCIAL BREAK)
GOLODRYGA: In the next few hours, a hearing will take place to decide whether or not Columbia University graduate and Palestinian activist
Mahmoud Khalil can continue to be detained by the U.S. government. The Trump administration has been laying out its evidence against Khalil, who
is a legal permanent resident. A two-page memo from U.S. Secretary of State Marco Rubio says he can be deported based on his beliefs, statements, or
associations, saying they would compromise U.S. foreign policy interests. The memo contains no allegations of criminal activity. Khalil, who led pro-
Palestinian protests on campus, was arrested by federal agents last month.
The Khalil case is putting renewed focus on how American universities have reacted to a wave of protests over the war in Gaza, as well as a rise in
antisemitism that has been witnessed globally since the October 7th attacks, and that is the subject of the new documentary "October 8".
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: The second I understood the depravity of what happened and the barbarism --
UNIDENTIFIED MALE: They kidnapped Israelis, including children.
UNIDENTIFIED MALE: -- I thought that the entire globe would be in mourning, and not only was it silent, there was jubilation.
(END VIDEO CLIP)
GOLODRYGA: The documentary takes a detailed look at how America's institutions have responded since the October 7th atrocity, and explores
what the filmmakers say are networks of Hamas creations in the U.S., and how online misinformation has fueled hatred.
Wendy Sachs is the director of "October 8", and joins us now from New York. Wendy, it is so good to finally see you. I have been wanting to have this
conversation with you for a long time now. Congratulations on the film. It is very powerful. It is very disturbing and so important because I think
it's eye-opening for those who are Jews and felt as if this attack was very personal for them, and of course, for millions, billions of others around
the world who viewed it just as horrifically. But, sadly, we saw different reactions and pockets of different reactions, maybe not from a majority,
but from a very loud minority.
And you say that this film was not about October 7th. It is about what happened on October 8th. And you document that in some of the footage that
you show in this film, protests that happened in the hours after these horrific attacks, even here in New York City. Let's show our viewers a
clip.
(BEGIN VIDEO CLIP)
DAN SENOR, AUTHOR AND PODCAST HOST: There was still fighting going on. Israel was still counting the numbers of the dead, and the mutilated and
the raped and the kidnapped. And there is a protest against Israel in Times Square. Rather than the outrage being directed against those slaughtering
the Jews, the outrage was being directed at the Jews for objecting to being slaughtered.
(END VIDEO CLIP)
GOLODRYGA: Wendy, this was --
WENDY SACHS, DIRECTOR, "OCTOBER 8" DOCUMENTARY: Yeah.
GOLODRYGA: -- shocking to not just yourself, but to me, to so many people. When did you decide that this is an issue you want to tackle head on with
this film?
SACHS: It was really on October 8th. It was when I saw what was happening in London with the protests, with what was happening in New York's Times
Square, when we saw people celebrating Hamas as freedom fighters rather than as terrorists. And then, later that day, we found out that more than
30 student groups had signed on to a letter at Harvard blaming Israel for the attack on itself, and then it was campus after campus after campus,
that it just seemed to me like the world had lost its mind.
And it was the -- it was sort of the combination of the hostility that we were seeing, no sympathy for what had happened to the Israelis, by the way,
not everyone was Jewish, and then it was like that, the silence, right, coming from women's rights organizations, coming from UN Women, coming from
Hollywood in the entertainment industry, the people who are always out there, whether it's bring back the girls with Boko Haram, people who are
always speaking out about social injustice, were suddenly silent when it came to what was happening in Israel.
GOLODRYGA: Yeah. The double standards were pretty apparent and shocking. It's important that you note this film is not political. You're not
litigating the war. And instead, you say you're examining how Hamas was depicted as freedom fighters as opposed to terrorists. You also talk about
what is considered a normal, healthy First Amendment-backed protest, right to freedom of speech, right to people's own opinion, and when that creeps
into something else and extremism, you have an extremism expert, which was so important to include in this film.
[11:45:00]
What were some of the insights that he offered into that?
SACHS: Right. Listen, this film is about Islamic jihadism and extremism versus democracy in the West. I mean, that is really the overarching theme.
It is not about free speech. It is not about your First Amendment rights. That is not what we're challenging here. It's when it crosses the line into
hate speech, when it crosses into supporting terrorism. And I think that's really what's sort of fundamental here. We interviewed lots of experts,
including Lorenzo Vidino, who is the Head of Extremism at GW University. These are people who have been tracking Hamas in America for decades now.
One of the most telling scenes in the film goes back to a Marriott Hotel room FBI wiretapped, from 1993, where you hear members of Hamas in America
talking about how they're going to infiltrate America, how when they speak to people on the left, they're going to frame their messaging in terms of
apartheid and colonialism. They knew then that they wanted to infiltrate the media and American college campuses. They were playing the long game
for decades.
So, then by October 8th, when we saw sort of the tool kit that came out and that was circulating on college campuses about messaging and using Hamas
iconography, including the upside down red triangle, they knew what they were doing. They have been here. They have been seeding their messaging,
and they were sort of ready to strike, basically, on October 8th.
GOLODRYGA: Wendy, I did a lot of work in the early weeks, days, actually, after October 7th, on the sexual violence committed against women, in
particular, by Hamas on October 7th, and not because I thought that was a controversial subject, but because that was a fact that had been proven by
evidence and testimony. And it was quite startling when you had organizations like UN Women and other human rights organization really
sound a deaf ear to this narrative, to this story line, and it took weeks, weeks, if not months, for them to come out after pressure to condemn it.
That, coupled with the ripping down of innocent hostages in their posters all over the world, was really something that I think even the most
pessimistic of people were surprised to see.
Let's play a clip of that moment, which you document as well.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: It is children. It's innocent people.
UNIDENTIFIED FEMALE: OK. What about the children in Palestine?
UNIDENTIFIED MALE: They're not innocent civilians if they're propagating (ph) for genocide.
UNIDENTIFIED MALE: You just ripped off the kids. I thought you said the kids are innocent.
SENOR: The infamous image of the posters of the hostages being torn down was, to me, one of the most powerful events to happen so soon after October
7th, and that's when I started to say, wait a minute, something is really wrong here.
(END VIDEO CLIP)
GOLODRYGA: And that one line, Wendy, what about the children in Palestine? And there seems to be this false binary that one can't have sympathy for
innocent lives in Gaza versus innocent lives in Israel. Talk to us about what you felt and why you decided to include this really painful aspect in
the film as well.
SACHS: Listen, we need to be able to hold two truths at the same time, right? So, we're not denying anything that's happening to the Palestinians
in Gaza, but that's not what this film is about. We are really unpacking just how we got to this moment, again, where Hamas is being celebrated and
idolized as freedom fighters on the most elite institutions in America, on these college campuses, with some of the smartest people like, what is
going on here? What sort of dystopia are we living in where it's OK to rip down posters of children and civilians and grandparents and sort of dismiss
their humanity in the name of sort of celebrating Hamas and in such a sort of a, I would say, an obsessive, fanatical heat of Israel?
And that's really what it comes down to, how sort of anti-Zionism has become the new form of antisemitism, and by delegitimizing Israel's right
to exist, is somehow very in vogue these days, and it's led to this moment where the dismissal, the denial, the refusal to see what happened to, as
you mentioned before, the raping, the murdering of women and children. How did that -- how did we get here as a society?
[11:50:00]
And that's really what this film is unpacking.
GOLODRYGA: Yeah, and it's gut-wrenching. It was, I have to tell you, the dehumanization of innocent civilians, these hostages, human beings, Jews,
even walking through the streets of New York and seeing ripped posters, so important for you to highlight in this film.
Wendy Sachs, I know it took months for you to finally get this made, but people have been flocking to see it. So, congratulations. Thank you so
much.
SACHS: Thank you so much. Thank you for having me.
GOLODRYGA: And we'll be right back.
(COMMERCIAL BREAK)
GOLODRYGA: The second round of the Masters is underway at Augusta National in Georgia. English golfer Justin Rose was at the top of the leaderboard
after the first round on Thursday. He came off the course with a seven under par 65 for a three-shot lead. So, what do we have to look forward to
today, as we head into the weekend? Let's go live to Augusta and CNN World Sports Andy Scholes. Andy, what can we expect?
ANDY SCHOLES, CNN WORLD SPORT: Well, Bianna, one thing you could expect is some beautiful weather, 70 degrees and sunny here --
GOLODRYGA: Wow.
SCHOLES: -- today, and it's going to look like it's going to be like that the rest of the weekend. So, fabulous weather for the 89th Masters. And the
big story line coming into the second round was, can Justin Rose finally hang on to a lead here at the Masters and claim his first green jacket
after his blistering first round, where he went seven under? Rose had a lead after the first round for the fifth time. That broke a record that he
had shared with Jack Nicklaus. But, the 44-year-old, he is already out there on the course today. He has got two birdies and a bogey so far to
move to eight under. He has got a two-shot lead over Bryson DeChambeau right now, who is making his own charge today up the leaderboard.
Now, yesterday was the ninth time Rose has had at least a share of a lead at any round here at Augusta National. It's something only five other
golfers have ever done, but all five of those other golfers who have done it are Masters Champions, and that's something that Rose is well aware of.
Rose said yesterday, he knows he has played well enough to win here in Augusta. He just doesn't have the green jacket to prove it. We will see if
this is finally going to be his weekend.
I know watching golf here at the Masters always is an incredible experience, as is going into the gift shop here. Now, this may be the only
sporting event in the entire world where the people here, the patrons, the fans, 80 percent, 90 percent of them are the wearing Masters gear.
[11:55:00]
You can only buy it here on site the week of the tournament, and there is a long line. And once people get in, they buy a lot of stuff. And I --
earlier, I talked to some people who were leaving the gift shop with some big bags. Take a listen.
(BEGIN VIDEO CLIP)
SCHOLES: So, how much did you spend in there?
UNIDENTIFIED MALE: Roughly $1,700, almost my whole month's savings.
UNIDENTIFIED FEMALE: Do I have to be honest? About $2,000.
UNIDENTIFIED MALE: 800 bucks today.
SCHOLES: $800?
UNIDENTIFIED MALE: About $2,000.
SCHOLES: $2,000?
UNIDENTIFIED FEMALE: Don't tell my husband, $1,500.
UNIDENTIFIED FEMALE: Two grands, and it's not for anyone but us.
SCHOLES: What's the most you've ever spent in a day here?
UNIDENTIFIED MALE: $5,000.
SCHOLES: $5,000.
UNIDENTIFIED MALE: One year, me and my dad came here and spent $2,200 roughly.
UNIDENTIFIED FEMALE: Probably closer to $4,000.
SCHOLES: $4,000. What'd you buy?
UNIDENTIFIED FEMALE: Just family stuff, my men shirts, names.
UNIDENTIFIED MALE: Golf towels, a lot of Peter Millar, Smathers & Branson belts.
UNIDENTIFIED MALE: As many hats as you can think of, mugs, shirts, Cokes, umbrellas.
UNIDENTIFIED FEMALE: Beach towel, and we got some shirts for the gentleman, and some T-shirts.
UNIDENTIFIED MALE: Golf head covers, beach towels, gifts for other people. I'm sure I forgot something in there.
SCHOLES: What's the favorite thing you bought?
UNIDENTIFIED MALE: So, this is our pullover Peter Millar fleece.
SCHOLES: Gotcha. How much did that run you?
UNIDENTIFIED MALE: That one was $135 plus tax.
SCHOLES: Oh, it's nice. How much did that cost you?
UNIDENTIFIED MALE: Padding (ph) middle, but sticky side, a little different there. So, you get some padding middle, to warm my chest, $225.
SCHOLES: $225? How much did that run you?
UNIDENTIFIED FEMALE: Oh my Gosh. I don't even know. 39 bucks. He is worth it. He is cute.
(END VIDEO CLIP)
SCHOLES: And Bianna, speaking from experience, you get in that gift shop, you kind of lose yourself. You go in there for a shirt and a hat, and then
you're looking at, oh, that koozie looks nice. Maybe I need a regular size can, a tall can, and you just leave with all kinds of stuff. But, it
certainly is one-of-a-kind experience, the Masters gift shop.
GOLODRYGA: Perhaps bargain prices. Let's come back next year, if these tariffs go into effect, and see the price of all of those shirts and even
the ones a year from now. So, get them while you can.
Andy Scholes --
SCHOLES: Yes.
GOLODRYGA: -- hope you got yourself something to console for the Cougars loss. They fought. They fought valiantly, my friend. Enjoy the weather.
SCHOLES: That was excruciating. Yes. This makes up for it.
GOLODRYGA: I was thinking of you. Have a great time there. Thank you, Andy.
SCHOLES: All right.
GOLODRYGA: And stay with us. I'll have more One World after the break.
(COMMERCIAL BREAK)
END
