Play of the Day: Who Pays Tariffs?

Larry Kudlow admits that the president may not be up on his econmomic knowledge.

According to reports, President Donald Trump is looking to have a bigger role in the nation’s capital's annual Independence Day celebration. According to the Washington Post, Trump wants to address the crowds on the National Mall from the top of the steps of the Lincoln Memorial, prompting Late Show's Stephen Colbert to joke that it will kick off "a new American tradition: watching Trump struggle to climb the steps of the Lincoln Memorial. "

Trump and Chinese leader Xi Jinping have been in a trade war between the two nations, but Trump told reporters last week that everyone is "very happy" with how it is going. Last Week Tonight's John Oliver joked about the quote, saying that Trump would say "we love this building, so little fire" about a building about to collapse from flames. Saturday Night Live's Michel Che joked about the trade war, too, joking about China's counterfeit industry, while Oliver compared Larry Kudlow admitting fault in Trump's view of who pays tariffs on Chinese goods to a bad sandwich experience at Subway.

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