TONIGHT: Rep. Rahm Emanuel, D, Rep-ILL, chair of the Congressional Campaign Committee for 2006 elections.

Jon Stewart on the fallout from Trump's tariffs, a stock market in a near-recession free fall, and the GOP's spin of the economic turmoil as "no biggie". "Nobody will ever trust us. In eight weeks, he's destroyed 80 years of reputation that America built". Rahm Emanuel, former ambassador to Japan under Biden and a current advisor at investment-banking firm Centerview Partners, joins Jon Stewart to talk about the United States' international trade predicament in the wake of Trump's tariffs. They discuss why it's one of the most reckless things done by a president, why he thinks these policies gave China a "get-out-of-jail-free" card, his experience under the Obama administration, and why he believes a Democratic governor could be the one to turn the party around.