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Erin Burnett Outfront
Trump Speaks As Markets Tank; Democrats Boycott; North Korea Threatens U.S. Aired 7-8p ET
Aired March 04, 2025 - 19:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[19:00:31]
ERIN BURNETT, CNN HOST: OUTFRONT next:
The breaking news, a bloodbath on Wall Street as the world rejects Trump's trade war. The president about to address the nation now, his biggest audience since he took office. Is he looking for an off ramp for those tariffs?
Plus, a growing number of Democrats are boycotting tonight's speech as the Democratic House leader warns members against interrupting and using props for the cameras. So is that going to actually have the opposite effect?
And the sister of Kim Jong Un threatening the United States hours before Trump speaks as a new report says, North Korea could have more nuclear weapons than the U.K. in the next few years.
Let's go OUTFRONT.
And good evening. I'm Erin Burnett.
OUTFRONT tonight, we begin with that breaking news. Trump's trade war tanking markets.
Tonight, the Dow down almost 700 points. That brings the two day loss for the Dow to 1,200 points. Markets now lower than when Trump was sworn in.
And all of this as the president is about to head to the Capitol to speak to, his biggest audience since taking office. Obviously, the joint session, but also around the world. Trump expected to talk about a lot of things, including his war against America's trading partners, Canada and Mexico. Also on that list, the tariffs on China that has caused panic around the world and at home and in those markets.
And at the White House, we're told they've been fielding calls all day long from angry Republicans, many of them from agricultural states, who are worried about Trump's social media posts that they should, quote, have fun with the tariffs.
And then there's the counterstrikes in this war. China, tonight, putting a 15 percent tariff on a number of American farm products. A number of Canadian provinces are now banning U.S. products altogether, including American alcohol. Ontario came out and ripped up a hundred million dollars contract with Starlink. Of course, that's Elon Musk's Starlink.
And Prime Minister Justin Trudeau is not holding back.
(BEGIN VIDEO CLIP)
JUSTIN TRUDEAU, CANADIAN PRIME MINISTER: He has said repeatedly that what he wants is to see a total collapse of the Canadian economy because that will make it easier to annex us. First of all, that's never going to happen. We will never be the 51st state.
(END VIDEO CLIP)
BURNETT: I mean, the -- what -- I can't believe were living in a world where were actually talking about that seriously as he was, because Trump keeps bringing it up.
The backlash has been fast and furious to the tariffs, so much so that suddenly the White House is signaling all of a sudden, right, no way, we're not going to stop. We're doing it, we're doing it. And then here they are. They come in. And then less than 24 hours later, we hear this on Fox News.
(BEGIN VIDEO CLIP)
HOWARD LUTNICK, U.S. SECRETARY OF COMMERCE: It's not going to be a pause. None of that pause stuff. But I think he's going to figure out you do more and I'll meet you in the middle some way. And we're going to probably be announcing that tomorrow.
(END VIDEO CLIP)
BURNETT: What? I mean, is -- it's a weird situation to be in, where it is possible that the only thing worse than starting a full on trade war is backing off so fast that nobody thinks your word means anything at all. It also comes at a time of utter chaos in Europe over the war in Ukraine. France's foreign minister saying the risk of war in the E.U. has never been higher in the past 15 years, that the, quote, front line has continued to move closer to us.
It comes hours after Trump paused all that aid to Ukraine after that spectacle meeting with President Zelenskyy, the Ukrainian president now calling that meeting with Trump and Vance, quote/unquote, regrettable, sort of one of those things you'd say where you're not apologizing, you're just the situation was unfortunate.
Well, tonight, the White House emphasizing there won't be a deal with Zelenskyy to announce before Trump speaks tonight, although that could also be imminent. And as we count down to that address here, coming up in these next hours, more Democrats are making it known that they're not actually going to attend.
Congressman Gerry Connolly put out a statement saying his reasons. Quote: These are not normal times. The challenges my constituents face demand more than sitting in a chamber I revere, listening as if the person addressing our country is not unleashing chaos and cruelty on their lives. I cannot give audience to that. And he is not alone on the Democratic side. The question is how big
the abandonment will be.
Jeff Zeleny is OUTFRONT live outside the White House to begin our coverage this evening.
And, Jeff, as we're getting ready for the president's address to that joint session of Congress, you know what -- what more do you know about what we're going to hear from him tonight? How long he's going to talk? What's going to be in this speech?
JEFF ZELENY, CNN CHIEF NATIONAL AFFAIRS CORRESPONDENT: Erin, we are told the president spent much of the afternoon putting the final edits into this speech. It will last well over an hour. And of course, it could last much longer with applause or perhaps with outbursts from Democrats.
Now, this is a familiar setting. He's been in the house chamber giving this kind of speech four times before. But this is an entirely different moment.
Here's why. He's emboldened by winning the popular vote just four months ago.
[19:05:01]
He's emboldened by winning all seven battleground states. He's facing a full Republican control of Congress. The optics will be so different.
Nancy Pelosi is not behind him, as she was the last time he addressed a joint session of Congress like this. However, so many challenges are also coming to bear. You mentioned several of them, and just two today alone, I'm told the White House was fielding calls, as you said all day long from Republicans concerned about the tariffs. Now, he's talked about short term pain. So we will see tonight how much he asks Americans to endure short term pain for reasons of immigration, for reasons of securing the border and other things. Also, how much he talks about foreign policy.
One thing we do know, he will be talking specifically about the work he has done over the last 43 days of reshaping and remaking the federal government.
Elon Musk, we're told, will be on hand, of course, as exhibit A of leading his government efficiency program.
But really, the question here is what the Democratic reaction is to this. But we do know the president has a few theatrics up his sleeve, if you will.
Some very poignant moments are expected, as they often are in the first lady's box. But if you look at one critical moment of the Trump administration, the resetting the relationship with the Russia, Marc Fogel, of course, was that prisoner who was returned just a few weeks ago. He will be sitting in the first lady's box with his mother, Malphine. She had a conversation with Donald Trump last summer at that rally in Butler, Pennsylvania. She urged the president to free her son. So that, of course, is some of the built in drama coming tonight.
But, Erin, there is plenty of drama in its own right, just on the policies alone. And that, of course, is front and center -- Erin.
BURNETT: All right. Jeff Zeleny, thank you very much.
And let's go now to the Democratic Senator Mark Kelly. He sits on the Armed Services Committee.
And, Senator, obviously, you are there on Capitol Hill. A number of your Democratic colleagues say they aren't going to attend the president's speech tonight. I know that you will be there.
Do you think that everyone should be there to show respect for -- for the office, for the tradition? Or are you comfortable with the fact that so many may choose to stay away?
SEN. MARK KELLY (D-AZ): Erin, thank you for having me on. I think folks have to make their own decision. For me, it's not just about being there because I do respect the office. It's also about holding him accountable that he has to get up there and explain to us some of these decisions that he has made.
Why does he want to give this huge tax cut to billionaires on the backs of middle class and working class people? To me, it's -- it is incredibly frustrating that there are folks that are just trying to get by and at the Safeway, where Gabby and I shop in Tucson, eggs are now $10 a dozen. We've never seen anything like this.
BURNETT: Yeah.
KELLY: And at the time when folks are struggling, his priority is a big tax cut for rich people.
BURNETT: So House Democratic leaders and Hakeem Jeffries has made this clear. You know, he doesn't want his members to be voicing their opposition, right? You know, I mean, he wants -- it's okay if they -- if they don't clap. But he doesn't want spectacles, right? He doesn't want any of those moments.
How do you feel about that? Do you think that would be appropriate if it happens?
KELLY: I agree with him. I don't like it when the Republicans did that, started during the Obama administration. I've seen it from Republicans when Joe Biden was speaking. I don't think it's appropriate. I don't think either side should do that.
I think we should listen to the president. That will give me an opportunity to then, you know, when he addresses Ukraine, why has he put us in this position? Why has he put the Ukrainians in this position?
What he did on Friday makes us look weak as a country. He thinks it makes us look tough. It doesn't.
Ukrainians are being murdered. They are an ally of ours. And Donald Trump just decided to switch sides. Never seen anything like this.
So I want to hear from him. I want him to explain these things. I want him to explain. Erin, why did he let 1,600 criminals out of prison in the first days of his administration, who beat up police officers in this building?
BURNETT: Talking about January 6th, obviously, and those who had been convicted?
I mean, so you want to hear answers to all of those things. I'm also curious, Senator, that the tariff situation, I don't know if you just heard or if you knew, because this situation has just been extremely chaotic. But Howard Lutnick came out on Fox and said, well, tomorrow morning, I think we're going to announce that we're going to cut the tariffs in half and meet in the middle. Don't call that backing down. It's just meeting in the middle.
Is that -- is that what it is? I mean, what do you think is happening?
KELLY: Who knows? I mean, who knows? I mean, never in our country's history have we seen a president run a government so unprofessionally. This isn't the way this is supposed to work. I mean, decisions seem to be made and then unmade and switched over a weekend. Things are announced on Twitter or the president's own social media app.
This is hurting our economy. You can see we lost hundreds of billions, if not trillions of dollars out of the American economy. That's peoples 401(k)s, that's their retirement.
[19:10:04]
And that's because he announced these tariffs and now he's going to undo it. I hope he just gets rid of him because a trade war with Mexico and Canada, our allies, our biggest trading partners is a really bad idea.
BURNETT: So you are there tonight as I said. And you're bringing your brother, fellow astronaut, Scott Kelly.
KELLY: Yeah.
BURNETT: Now, you both had some unfriendly back and forth with Elon Musk about bringing astronauts home from the ISS. You know, the post where he had called another astronaut, his words, quote, retarded.
I bring this up because he's going to be there tonight. Obviously, he's front and center. Trump's going to talk about doge and all the cost cutting and Musk is going to be there. What are you going to say to him if you see him face to face?
KELLY: I've met Elon before. You know, full disclosure, I used to do a little stuff with SpaceX. He's got a good rocket company. He shouldn't be slashing and burning and laying off thousands of
government employees, a third of them veterans without cause. He's an unelected billionaire. He should not be involved in this or any government.
BURNETT: Yeah.
KELLY: So this is another mistake by this president. There is no planning involved. There's no analysis. I met with a bunch of veterans today that have lost their jobs. They received good -- like very good performance reports. And then they were told they were fired because of their performance?
A lot of these folks are going to wind up suing the federal government over this.
BURNETT: Yeah.
KELLY: And it's because Elon has no idea what he is doing. What will I say to him? I'll say, I think he's making some really big mistakes, and he needs to really think seriously about what he is doing because it is not helpful.
It is ruining peoples families. I mean, their financial situation is decimated. These are people that served our country. So I hope I see him.
I hope he doesn't bring his chainsaw. I don't think that's going to be allowed in the -- in the chamber tonight.
BURNETT: We'll see if his four year old son is allowed.
All right. Thank you very much, Senator. I appreciate your time.
KELLY: Thank you.
BURNETT: All right. And everyone's here with me.
And I want to talk about his point on veterans in just a moment.
Mondaire, let me just start with you, though. You heard what he said. He's going because he thinks its important. He wants to hear what Trump has to say and feels that that the audience is crucial.
But, you know, many Democrats have chosen to say they are not going to attend. Gerry Connolly is far from alone. Is that the right thing to do?
MONDAIRE JONES (D), FORMER U.S. REPRESENTATIVE: Mark Kelly is in a swing state. You know, it -- it behooves him, to not appear partisan. But the fact of the matter is, no one can be faulted for refusing to normalize the insane, not just unprofessional. To quote from the senator from Arizona, but just catastrophic conduct that we are seeing illegal conduct in many instances.
And so I don't -- I don't think its going to be to the detriment of any member of Congress to decide not to entertain that, not to appear, to normalize that kind of conduct. And for what it's worth, I don't think there's going to be an actual consequence. I don't think the American people care whether Democrats attend this State of the Union or not. They're focused on the price of eggs and other goods.
BURNETT: I mean, Governor, you know, it's interesting he talked about how he didn't like what had happened in prior State of the Union, and he brought up that moment, you know, the you lie moment, which I think for all of us sort of stood for when that started to become a thing.
Here's some of what we've seen in the past.
(BEGIN VIDEO CLIP)
JOE BIDEN, FRMER U.S. PRESIDENT: Some Republicans want Medicare and Social Security to sunset. I'm not saying it's a majority.
(BOOING)
BIDEN: Contact my office. I'll give you a copy. I'll give you a copy of the proposal.
The result was a bipartisan bill with the toughest set of border security reforms we've ever seen.
(BOOING)
BIDEN: Oh, you don't think so? Oh, you don't like that bill, huh?
(END VIDEO CLIP)
BURNETT: That was his feistiest performance I think we had seen from him as president last year. Marjorie Taylor Greene afterwards shouted him wearing a red MAGA hat.
So do you think -- that's what we saw last time is what I'm saying. Do you think it's fair, then, for this to be what Democrats do tonight if that's what we see?
TIM PAWLENTY (R), FORMER MINNESOTA GOVERNOR: I would hope we could all be better and go back to a day where there's at least civility. But I think we're past the point of that. So there is going to be some of that tonight. And but -- but I would hope when they do that, its maybe a little bit of booing, a little bit of commenting on the side, murmuring.
If it gets into full blown heckling, I'll predict you Trump will win that. He's got the bully pulpit, he's got the full microphone, and other people are going to barely be heard in the background. If somebody wants to engage him on national television, I'll give you a three out of four chance he will put them down.
BURNETT: He would love it.
DAVID URBAN, CNN SENIOR POLITICAL COMMENTATOR: Ask the Costa Rican president how that goes. PAWLENTY: Yeah, right. Exactly.
KATE BEDINGFIELD, CNN SENIOR POLITICAL COMMENTATOR: I was going to make this exact point, Governor. I mean, I think that's -- that's the thing. It's the optics here. And the format is such that whoever is standing behind the rostrum on the floor of the United States Congress, speaking as president of United States, carries the weight.
And the people who are seated out in the seats are not miked. You're not going to be able to hear what they say. And it kind of always winds up making them look small, even if they're raising a substantive objection.
The audience at home can't hear it. They can't see it. So my, my, my caution to Democrats tonight who are contemplating that kind of interruption, it never looks as good on television as you think it's going to.
[19:15:02]
URBAN: And look, Mark Kelly's got it right. You go, you sit and listen and you go to Statuary Hall and you talk about it. There's a marketplace of ideas. If you have-- if you don't like an idea that Donald Trump put forth or you have some policies you want to throw stones at, you go to statuary hall. There's plenty of opportunities afterwards to get your point across and make your point to the to the nation in a more dignified manner.
Listen, if Democrats want to find their way out of the wilderness, right, it's not by standing and crowing or popping smoke in the chamber or doing whatever they're going to do to, you know, contemplating and disrupting it. There needs to be a much more organized and methodical way forward for -- for your party, right --
BEDINGFIELD: Yeah.
URBAN: -- out of the woods and articulate spokespeople who can do that.
JONES: Nor is there a history of Democrats doing that kind of heckling.
URBAN: No, no --
(CROSSTALK)
JONES: That is only been on the Republican side.
BURNETT: Well, there was the infamous rip, but that wasn't happening.
BEDINGFIELD: Absolutely.
(CROSSTALK)
URBAN: I agree. Listen, I agree, like when it was done with Obama, it was bad. When Marjorie Taylor Greene did it, it's bad. I just think its bad form. It's bad for the body. It's bad for -- if you don't show respect to the office of the presidency or the chamber that it's in.
This is a solemn moment. People in America want their government to function and function normally. They don't want to see a high school like drama playing out on the floor of the Congress.
BURNETT: And yet, Governor --
URBAN: It's beneath everybody.
BURNETT: -- the moment of chaos that we are in with the federal government cuts and the tariffs and Ukraine is unprecedented for so many things to be happening at the same time, in modern times of what he's walking into.
URBAN: Yeah. I mean, he's flooding the zone intentionally. And there's also issues that's coming at him that are not of his choosing particularly. But the fact of the matter is, he likes multitasking. He likes doing 50 --
(CROSSTALK)
MONDAIRE: That is the wildest use of a euphemism that I have heard in a long time.
PAWLENTY: But he has the bully pulpit tonight. The spotlight is not on the unpopular Congress. And, by the way, there's 435 of them. He's still way more popular than any one of them times -- times five.
But he's sitting there at a lectern with a microphone. He can speak to the nation tonight. And you shouldn't -- we shouldn't delude ourselves. Is he going to address 20 things? Probably. And there's 20 important things to be addressed and he'll do a good job. I mean, he will.
(CROSSTALK)
BEDINGFIELD: Democrats should go. Oh, I didn't interrupt you quickly. Democrats should go to their local media as soon as the speech is over and start explaining to their constituents why what Donald Trump is doing is raising prices.
URBAN: And it's great. And Kate makes that point. That's exact point that I was making earlier.
Again, look, if you don't like what Donald Trump's doing, there's a way to go at this. There's a way to find your way out of the wilderness, right?
BEDINGFIELD: They can't hear you, by the way.
URBAN: Right, the Democrats do. But I will say this -- I will just say this: what Donald Trump's doing happens to be wildly popular in America, and that's why he was put there.
PAWLENTY: And start by understanding why you lost the election.
URBAN: Yeah.
JONES: By CNN's own polling, he is the least popular of any president approaching the first state of the union in the presidency.
BURNETT: That is true.
URBAN: But he's still more popular than he's ever been before in his presidency.
BURNETT: Well, there's a way to set the bar.
Okay. All staying with us. Another Trump adviser just moments ago hurling new insults at Zelenskyy, calling his wartime where, quote, bespoke tracksuit. Is Trump about to keep the line of attacks open tonight on Zelenskyy, or to go for a deal?
Plus, to shut him down, Republicans being told to call off their town hall meetings after angry voters have been demanding answers about mass firings of vets. And they've been told, you know, you just don't do those town halls, do them virtually.
And Elon Musk headed to Capitol Hill to attend the president's speech. Obviously, he's barely left Trump's side since Election Day, now has a company, though in big trouble. And Harry Enten is going to tell us something we don't know.
(COMMERCIAL BREAK)
[19:22:47]
BURNETT: Breaking news, a top Trump adviser insulting Ukrainian President Volodymyr Zelenskyy, even as Zelenskyy is insisting it's time to talk about a deal.
Jason Miller, today adviser to the president, of course, raising Zelenskyy's attire, what he wore again just hours before the president is set to address the nation.
(BEGIN VIDEO CLIP)
JASON MILLER, SENIOR TRUMP ADVISOR: Zelenskyy has got to get back to the table. He has to take this seriously. No more goofing off or showing up to the White House in his bespoke tracksuit and tearing up and ignoring deals.
(END VIDEO CLIP)
BURNETT: I don't know what deal tore up and ignored. Let's just be clear about, that didn't happen.
It comes as Zelenskyy posted on X that, quote, our meeting in Washington at the White House on Friday did not go the way it was supposed to be.
It is regrettable that it happened this way. It is time to make things right. Nick Paton Walsh is OUTFRONT here now in Kyiv.
So, Nick, obviously where you are, there's air raid sirens and missiles and drone attacks unrelenting from Russia still. So what is Ukraine expecting? What are they bracing for tonight in this crucial speech from Trump in front of that joint session?
NICK PATON WALSH, CNN CHIEF INTERNATIONAL SECURITY CORRESPONDENT: Look, I think there is a general hope here that potentially the bones of an apology, which Zelenskyy offered, you know, Trump's inner circle have been suggesting he needs to publicly apologize. I think the phrase regrettable about the oval office meeting offered in that social media post and in his nightly address tonight, might be edging towards that.
Zelenskyy has also said very clearly he is committed to peace that goes close towards what Trump asked him to do in order to restore the aid that was paused last night. That's utterly vital here. That's frankly been causing a degree of panic amongst Ukrainians I've spoken to today. The fact that they could be out of critical artillery ammunition by May, or Patriot air defense missiles in a matter of weeks.
And also to Zelenskyy in that lengthy post, also suggested they were willing to sign the rare earth mineral deal. We heard Trump suggest yesterday there might be something about that in this potential speech. There's been a lot of back and forth about whether there is any potential progress on that particular idea.
But more importantly to Zelenskyy, and his post also suggested the bones of a peace deal. Frankly, he even echoed thoughts from France's President Emmanuel Macron that there could be potentially a limited ceasefire sea, air and against energy infrastructure targets.
[19:25:06]
That is, I think, Ukraine trying to suggest they are indeed serious about peace.
There's never been any goofing around here, as Stephen Miller suggested. This is a life and death matter. And I think Ukrainians will be looking to see from Trump if there is any signs that what Zelenskyy has offered today, a significant stand-down on Ukraine's part in terms of their interpretation of the Oval Office meeting, actually yields a rapprochement in their relationship -- Erin.
BURNETT: All right. Thank you very much, Nick, live in Kyiv.
And everyone is back here with me.
Governor Pawlenty, you know, it is -- it is still jarring, for -- for -- if you're Nick -- staring where Nick is or any of us who have spent time in Ukraine to hear the mocking tone with which some around Trump talk about Zelenskyy and Ukraine, right? Your fancy tracksuit or, you know, regardless, this is life or death. This is a war zone, where a whole part of the country is mined, where people have been dying by the hundreds of thousands between the two, and somehow it seems to be sort of a game.
PAWLENTY: You know, Erin, history is pretty clear what happens when the world appeases autocratic invaders and the United States is now dealing with a serial offender, a repeat offender in the form of Vladimir Putin. So these next steps are not only important for the United States over the next six months, but for the next 60 years.
And we better move carefully and thoughtfully. And this deal better be strong. I'm glad that the now the rhetoric is getting more positive. Maybe we'll hear some positive gestures tonight, but getting minerals in Ukraine isn't enough to secure Ukraine's future or to deter Vladimir Putin. We need to see what's next in the form of security guarantees. And if the United States doesn't want to be part of that, then we should at least be supportive of the so-called coalition of the willing who are willing to do it.
BURNETT: Right, we're talking about Europe.
URBAN: Yeah, listen. And look, I think the governor is correct. I'm not quite sure what took place in the Oval Office, why they were actually litigating the case in front of the world.
BURNETT: Right, as opposed to behind closed doors where you could have an argument.
URBAN: Exactly. That argument could have taken place, but around the table, then they could have come out and had an agreement. So I'm not quite sure you know why that took place.
And listen, I don't -- Jason Miller's statement about the tracksuit. Look, I've -- I've always thought president Zelenskyy is a very serious individual. But, you know, we fought a lot of world wars in this country and around the world. If you're going to go to 10 Downing Street, if you're going to go see Macron --
BURNETT: Winston Churchill showed up in his suit. I mean --
URBAN: I think -- I think I think wear a suit, okay. I do think it's -- just --
BURNETT: he showed up in his -- in his, quote/unquote, bespoke tracksuit of the day.
URBAN: Well, Winston Churchill I don't think were bespoke tracksuit.
BURNETT: I'm not mocking the words that Jason Miller used. But what I'm saying is he did he showed up in -- in an air -- in a jumpsuit.
URBAN: It was a little bit different kind of jumpsuit, Winston Churchill.
BURNETT: It was an air raid suit.
URBAN: It was an air raid.
(CROSSTALK) URBAN: No, no, but, Governor, no, no, no, it is -- it is. No, it is something I'm telling you. It is a sign of respect. This president, this president sees it as a sign of respect. If President Zelenskyy would have gotten out of the SUV or the limo in a suit, it would have signaled. I'm just saying again, it would have signaled, I'm here. I'm taking this seriously. I understand the gravity of this all. I've never -- I've never worn anything before. I'm doing this.
BURNETT: So I can I just show Winston Churchill, by the way, just to. Okay, I'm going to show.
URBAN: I've seen it. I know, yeah.
BURNETT: Right. I'm not -- I'm not saying. I mean, I'm just saying that. Nobody didn't take that seriously.
BEDINGFIELD: But, David, even -- okay. Even but even okay even I grant that Trump didn't like it. He was upset.
URBAN: But I'm just saying anywhere, 10 Downing, anyplace.
BEDINGFIELD: He felt it was disrespectful. That's essentially saying that Trump's personal sense of disrespect is somehow bigger and more important than whether the United States continues to stand against an autocrat --
URBAN: You're missing, you're missing -- missing the point. That's not the point.
(CROSSTALK)
BEDINGFIELD: It feels like a real effort at misdirection.
JONES: If he has shown in a fancy suit --
URBAN: That's not the point.
JONES: -- he would have said he was using U.S. money to -- to personally enrich himself.
Meanwhile, Elon Musk is running around here in t-shirts and jeans and whatnot, including in the Oval Office. I don't think it's serious that the result would have been different.
URBAN: Listen, I just -- I'm just again, you do this for a living. This is an optics thing. This is an optics game.
BEDINGFIELD: But what about the Musk part?
BURNETT: I mean, if were going to have this conversation.
URBAN: Elon Musk isn't trying to negotiate peace. He's trying to slash the federal workforce.
BURNETT: But they're saying respect for the office. URBAN: No, no, no. It's completely different if you're going hat in
hand, right, and this is what President Zelenskyy was doing. He was coming hat in hand, right, to say thank you to the American people. If you watch the hour long oval office meeting, it was that's what he did. He started out very nicely. He kind of went along until the last few minutes when it didn't go along, right?
BURNETT: Yeah.
URBAN: But again, I'm saying the American people, others look at look at this and say he's not serious, he's not coming here. He's not looking serious. Listen, if you don't -- if you don't appear, why do I have dress codes at work? Why do people wear certain things?
(CROSSTALK)
URBAN: You can't wear juicy sweats to work?
BURNETT: -- Zelenskyy wasn't serious because of what he's wearing.
PAWLENTY: Here's another observation. Zelenskyy has been wearing essentially the same outfit for three years.
BURNETT: Yes, yes.
PAWLENTY: And so everybody was on notice. He's going to come in the same outfit with some staff person perhaps could have called Zelenskyy's team and said, you know --
URBAN: If they would ask me, I would tell him, Governor.
PAWLENTY: David, could you have called him.
And said, we know you're coming in the costume or the uniform, wear a suit. We'd appreciate it. He would have.
URBAN: Well, I don't know if he would have. We don't know if he would have. But that's the thing.
PAWLENTY: What? Were surprised he showed up in a -- in a uniform. Nobody surprised.
URBAN: Listen, I'm not -- I'm just saying --
BURNETT: I understand you're making a practical point.
URBAN: I'm making a practical point.
BURNETT: I think it is embarrassing that we are all sitting here having this conversation. Why? Why would such a thing --
(CROSSTALK)
URBAN: Do you remember? Do you remember? Do you remember -- how you remember the end of the Vietnam War was negotiated and they were. The debate was whether it was a round table or a square table. Who sits where? That's how these things work out. This is just its part of the game, right?
JONES: For the record, I think its impractical to suggest that a man who is leading his people in a life or death war for their own sovereignty and -- and for liberal democracy out there to put on a suit --
URBAN: Why?
JONES: -- when everyone knows that he is in the midst of that effort? I think it makes --
URBAN: But, Congressman, Congressman, wouldn't you, if you said -- if you said that's all I got to do is put a suit on and help. It'll help advance the cause. You'd put a suit on.
JONES: I think if he felt that way, if anyone truly felt that way, then maybe. But I don't think that would have made a difference.
BEDINGFIELD: Why is that Donald Trump's expectation? I mean --
URBAN: I'm not saying. I'm saying it's the American people's expectation.
BEDINGFIELD: I don't think the American people care.
(CROSSTALK)
BURNETT: I don't think there's anyone in America who expect him to show anything except for what he wore, by the way, which, as the governor pointed out, is his dressiest top.
BEDINGFIELD: But he also, in terms of optics, he's worn it from the -- from the beginning when he was filming, when he was here, when he was filming himself in the basement of the presidential palace.
I mean, so if you want to talk about optics, there is an important optical message being sent by what he's wearing, which --
(CROSSTALK)
PAWLENTY: I'd like to talk about concessions are the Russians making?
JONES: Yeah. Can we talk about?
BEDINGFIELD: Yes, exactly.
PAWLENTY: I know, we're not going to know that, but I hope we hear tonight --
BURNETT: Well, they get to go to Saudi Arabia and sit at a table with no Ukrainians.
PAWLENTY: What concessions are the Russians going to make? We haven't heard word one about that yet, and I hope there's a plan for that.
BURNETT: And maybe we'll hear about that tonight. JONES: Trump wants Zelenskyy to give up part of Ukraine which should
be unacceptable.
URBAN: Well, well listen, if anybody if anybody thinks that I've been Crimea, I've been to Donbas, I've been to these regions, I've been to Sevastopol, I've seen the Black Sea fleet.
BEDINGFIELD: Sure, yeah.
URBAN: It's ethnically Russian. It's been ethnically Russian for hundreds of years. If anybody thought that that was ever going back, it's just never going back. Practically, it's never going back. Militarily, it's impossible to --
BURNETT: Just to state certain things, though, I've been to those places, too. Just because there are places where people speak Russian doesn't mean that they want to be part of Russia.
URBAN: Yeah, but no, but they do want to be part of Russia. They do want to be part of Russia.
BURNETT: In some places, they do. If you had a place in Eastern Ukraine, in Donbas --
PAWLENTY: It was the same excuse that Putin used when he invaded two provinces in Georgia.
BEDINGFIELD: Internationally agreed upon --
JONES: By the way --
(CROSSTALK)
BEDINGFIELD: That we're now going to say it's okay --
BURNETT: He said there's no such thing as Ukrainian people. He has said this.
URBAN: I'm not, listen, I don't care, Putin's wrong. Putin's wrong, 100 percent. But if you go to Crimea, if they had a plebiscite, it probably would be, they'd probably vote for be Russian.
If you go there, the reason that it --
(AUDIO GAP)
(COMMERCIAL BREAK)
[19:37:34]
BURNETT: Breaking news, these are live pictures of the Capitol. You see all of those lights there. That is where President Trump will arrive soon and be delivering his first address to Congress of this term. CNN just speaking with the former House Speaker Nancy Pelosi, who, of course, famously tore up Trump's speech as she stood behind him back in 2020. Manu Raju is OUTFRONT live on Capitol Hill.
So, Manu, you spoke with Nancy Pelosi, the former speaker, what did she tell you? She's there and she's going to be in the room.
MANU RAJU, CNN CHIEF CONGRESSIONAL CORRESPONDENT: Yeah. And look, she has publicly said in the last couple of days she does not believe Democrats should engage in really any outbursts that could distract and give Republicans some ammunition here. So I asked her about that infamous episode in 2020.
And she told me, quote, hopefully he won't lie so much this time, referring to Trump. She said it was a manifesto of lies, as I said at the time. So maybe, he will tell the truth this time. We'll see if he's capable of that.
And we'll also see how Democrats react inside the room, the Democratic leaders are urging their members to show some restraint as they hear from Donald Trump, who will undoubtedly, call out Democrats in the room and push his own policies. But there are a lot of questions, too, Erin that Democrats and Republicans alike have about how Donald Trump will deal with issue number one, controlling prices, and how his policies to impose tariffs on Mexico, on China and on Canada will impact that effort to control prices.
And does he lay out any sort of timeframe? Is it going to be temporary as the Senate majority leader, the Republican John Thune had hoped had indicated earlier today his hope that there'd be a temporary measure, all questions that Trump will have to address because there's a lot of interest in the room, both from Democrats and Republicans alike, over that key issue, Erin.
BURNETT: All right. Manu, thank you very much, and talking there with former House Speaker Nancy Pelosi. Interesting what she said. She doesn't want those outbursts from Democrats. So we'll see what happens.
OUTFRONT now, the Republican Congressman Mike Lawler of New York and Congressman Lawler, obviously, you'll be there.
So, you know, talking about prices, we're looking at a market that in the past two days has plunged, what, 1,200 points. And after the markets closed today, Howard Lutnick, the commerce secretary, went on Fox News and said, well, we're not backing down, but maybe were going to meet in the middle and we're going to announce that tomorrow, and essentially cutting these tariffs in half.
Congressman, do you think Trump is looking for an off ramp at this point from when the commerce secretary said that 18 hours after those tariffs went into effect?
REP. MIKE LAWLER (R-NY): No, I actually think short term tariffs can be an effective tool to negotiate fairer trade deals, and in the case of Mexico and Canada, really focused in on the flow of deadly fentanyl and migrants.
[19:40:12]
If you look today, border crossings are down for the month of February to just over 8,000. A year ago, under Joe Biden, they were at 189,000. So you've already seen some level of cooperation from Mexico and Canada in large measure, because of the threat of tariffs.
So as a short term negotiating tool, I do believe it can bring about some significant change. And that is -- that is necessary. The markets obviously day to day, there's going to be ups and downs along the way. But I do believe as -- as a negotiating tool that is important.
When you look at, for instance, Japan, the fact that U.S. cars can't go into the Japanese markets, when you look at Europe and the price controls that are put in place on U.S. drugs, part of the reason why we pay such high costs here in the United States on prescription medication is because of price controls in other countries.
So getting our allies to actually engage in fair trade should be a goal of all of us in Congress. Nobody in Congress should want the United States --
BURNETT: Of course.
LAWLER: -- to be being fleeced by other countries.
BURNETT: Of course. I mean, you know, some of the perhaps unintended consequences since you mentioned Japan, since they're not part of this, would be that all of a sudden their cars just got 25 percent cheaper than cars made in the North American area, as is -- is how cars are made now, with parts going back and forth between Canada, the U.S. and Mexico. And it is that point --
LAWLER: Yeah, a lot of car manufacturers are in the United States, and that is something we should certainly want, advanced manufacturing to come back to the U.S., which, frankly, is part of what tariffs can help do.
The fact is, if you buy a U.S. product, you're not paying a tariff on it. It is obviously for imports.
BURNETT: Well, except for a lot of U.S. cars and in this case, the majority of their parts actually do come and go between the U.S. and Canada. So that would be privy to these tariffs.
LAWLER: Of course, that's part of -- that is part of trade. But again, to me this is a short term measure that should force a reset amongst countries to have fairer trade practices with the United States and every member of Congress should want that.
BURNETT: So let me -- let me talk to you about some of those members. In fact, your Republican colleagues, some of them do not seem to share your point of view on this at all. In fact, they have -- when talk about some of these -- this pain, the tariffs could cause average Americans. Some people have been you know, a lot of Republicans we're hearing have been calling and complaining to the White House today, all day about these tariffs. Do you know any of those people who have been upset or, or has anyone
talked to you about that?
LAWLER: Well, of course, there are businesses, for instance, in my state of New York that rely heavily on trade with Canada. And again, to me, as a short term leverage point, it is necessary. You can't threaten a tariff and then not actually utilize it if you're trying to force a negotiation.
If it's just an empty threat, well, then it's not actually going to result in any long term gain. And -- and frankly, for Canada, whose trade imbalance is significant. I mean, they rely heavily on the United States. Their GDP is based in large part on the United States' economy and trade with the U.S.
So, look, long term, it is not something that I think should remain in effect, but in an immediate short term, to force a better and fairer trade practices and force Canada and Mexico to take a much tougher stand on, you know, the issue of deadly fentanyl flowing into our country and illegal immigration, it's important.
I think the fact that border crossings for the month of February were down to just over 8,000 speaks volumes, when a year ago, they were at 189,000. Democrats kept telling everybody we needed to pass that bipartisan immigration bill through the Senate that would have codified Joe Biden's catch and release policies into federal law, which would have been a disaster.
This, in fact, what President Trump has done is actually reduce border crossings. And I don't hear Democrats saying anything about that.
BURNETT: Well, I will say, of course, when you point out there was a bipartisan bill and on the on the Republican side, led by the ultra conservative Senator Lankford, in terms of making that deal and --
LAWLER: Yes, but it would have codified -- it would have codified catch and release into law, and that would not have been good policy.
BURNETT: All right. Well, Congressman Lankford -- Lawler. Sorry, Lankford, Lawler, I do appreciate your time. We'll see what he has to say about all this tonight, if we do move forward on where those tariffs are going over these next 12 hours.
Thank you. I appreciate your time.
LAWLER: Thank you.
BURNETT: And next, Kim Jong Un's sister warning the U.S. they're ready to use nuclear force as a new report claims North Korea could have an alarming number of nuclear weapons in just years, passing the U.K.
[19:45:08]
Plus, Elon Musk, always by Trump's side, it seems. And he will be there tonight, which is having a devastating effect on his support among a key group of Americans. And Harry Enten will tell us something about them that we don't know.
(COMMERCIAL BREAK)
[19:50:02]
BURNETT: Breaking news, President Trump about to make his first address to Congress since taking office. North Korea watching Trump extremely closely this hour. Kim Jong Un's sister, very influential there, calling the U.S. quote hostile and confrontational, warning the U.S. of nuclear consequences.
And Will Ripley is OUTFRONT tonight.
(BEGIN VIDEOTAPE)
WILL RIPLEY, CNN SENIOR INTERNATIONAL CORRESPONDENT (voice-over): A warning from Kim Jong Un's powerful younger sister just before President Donald Trump's congressional address, Kim Yo-jong, one of the most influential figures in North Korea, accusing the U.S. of political and military provocations, a response to the USS Carl Vinson, a nuclear powered aircraft carrier docked in South Korea's port city of Busan.
South Korea's navy calls it a show of force against North Korea. Kim's sister says the U.S. deployment of military assets justifies Pyongyang's plan to indefinitely bolster its nuclear war deterrent.
That deterrent has only grown since Trump and Kim's last meeting at the DMZ in 2019. Trump became the first sitting U.S. president to set foot in North Korea, a whirlwind of historic diplomacy that ended with no deal.
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: I got along with him very well. As you know, I think I stopped the war.
RIPLEY: Since then, North Korea's firepower has surged. Multiple tests since Trump returned to office in January. Some analysts believe North Korea's nuclear arsenal has skyrocketed to possibly 90 warheads, with the ability to produce even more. And with growing support from Russia, some experts warn North Korea could even surpass the UK in nuclear warheads within the next ten years.
TRUMP: And I got along with him.
RIPLEY: Trump believes personal diplomacy with Kim still holds promise.
Longtime Korea watcher Chad O'Carroll says Pyongyang has reasons to engage with the U.S.
CHAD O'CARROLL, FOUNDER, NK NEWS/NK PRO: It helps to just have someone else able to support you, besides just Russia. And North Korea has a history of playing foreign supporters off each other.
RIPLEY: North Korea has seen what happens to nations that abandon nuclear weapons like Ukraine. TRUMP: You don't have the cards right now.
RIPLEY: For Pyongyang, the strategy now is clear, show strength. And the person delivering that message, Kim Yo-jong, the most powerful woman in North Korea, her brother's combative enforcer for years. Back in 2020, as diplomacy crumbled, she personally ordered the destruction of the Inter-Korean liaison office.
Now, as Trump speaks to Congress and the world, there's no doubt Kim and his sister are watching.
(END VIDEOTAPE)
RIPLEY (on camera): So you notice a lot of the fiery rhetoric comes from Kim's sister and not Kim himself. But obviously she's speaking on his behalf. She's authorized to do so. She runs a very powerful department, the propaganda and agitation department.
BURNETT: Propaganda and agitation.
RIPLEY: That's okay. So, exactly. So to agitate people and to and to make sure that the message surrounding Kim Jong-Un is that he's the leader. He's the one who's calm and stable, but then she's the one that will come out and say these incredible things, you know, about South Korea, about the United States, blow up the building.
BURNETT: It is incredible to see it, though, and how closely they'll be watching, but also that that arsenal is building.
All right. Will Ripley, and so wonderful to see you here in New York. Usually, of course, over on the other side of the world.
Next, Tesla stock reeling as Elon Musk ties himself to Trump. So just how bad is it for Tesla?
(COMMERCIAL BREAK)
[19:57:34]
BURNETT: Breaking news, President Trump moments away from arriving on Capitol Hill. Elon Musk will be in the audience. Obviously, the richest man in the world who's attempted to upend the federal government as Americans know it. Musk will also be back on Capitol Hill tomorrow to brief Republicans in the house on DOGE.
Spending his time in Washington, though, and at the president's side, almost every day since the election has taken a toll on his company's stock, along with, you know, the political stance that he has taken, emblazoned.
Harry Enten is OUTFRONT to tell us something we don't know.
So, Harry, what is happening with Tesla right now?
HARRY ENTEN, CNN SENIOR DATA REPORTER: Yeah, I don't think that stock -- people who own stock like rollercoasters. And let me tell you this, Tesla stock has been on an absolute roller coaster since the election. You saw that initial upswing.
Look at that from $251 a share, a $480, and then all the way back down as it reaches the bottom all the way at $272, nearly erasing all of the gains that Tesla stock has made -- that made to its peak from Election Day.
Now, part of that obviously is a competitive electric car market, but no doubt part of it is Elon Musk's own troubles.
BURNETT: Oh, yeah, well, people thought, oh, my gosh, he's in with Trump. So that's good. And then all of a sudden what happened with DOGE? Maybe it's not good. I mean you see -- you see that. And what we're going to see with only Republicans want to buy your car. That's not a good thing.
His stake, though, Tesla and SpaceX makes up the bulk of his wealth, right? So what is all this doing to him?
ENTEN: Yeah. I mean, look, not much of a surprise. Elon Musk saw that big rise in his net worth. Look at that. Up to $486 billion from $264 billion on Election Day. And then all the way back down again the roller coaster seeing that ride down that is a loss. Doing the math quickly, I think of $150 billion or something like that from the peak to now.
That, my friend, is not very good news. Now, of course, he's not all in Tesla, so that's the good news for him. But again, when you're losing that much wealth again, no bueno.
BURNETT: So we know that Democrats obviously don't like Musk. And we'll see. It's going to be interesting to see what happens to these car sales, because it has become a statement to buy a Tesla. So tell me something I don't know about that.
ENTEN: I would love to tell you something that you don't know. Not much of a surprise that Democratic support for Elon Musk has net favorable has collapsed. But look at this collapse down 126 points since 2017. Unbelievable. I didn't know you could have a decline that much.
The Republican upswing though, 32 points. But you don't have to be a mathematical genius. Erin Burnett to know that 32 points does not make up for the loss among Democrats. That is very bad math, because you don't just want to be having one party by your cars, especially the party that really hates you. The gain with Republicans, simply put, not good enough.
BURNETT: No, no, it's not. You don't generally tend to see things go that negative. Obviously, it would be a negative approval rating to go down 126.
ENTEN: Yeah, and not good news.
BURNETT: No. All right. Harry, thank you very much.
And thanks to all of you. I'll be here with you all night. If you are going to be watching the Trump address and our coverage, our special coverage of President Trump's address to Congress starts right now.
