Jimmy Fallon Jokes Trump’s Tariffs Went From 54% to 10% — ‘And So Did His Approval Ratings’ | Video

Jimmy Fallon didn’t hold back when it came to the Trump administration’s tariffs, devoting most of his latest “Tonight Show” monologue to riffing about the latest global change.

“Trump’s tariffs went all the way from 54% to 10% and, today, so did his approval ratings,” Fallon said on Thursday night.

The NBC host then noted that Trump has placed tariffs on “almost every single country.” “As you can expect, the world is pretty mad at us. Right now, EPCOT is down to two countries,” he joked. Fallon also said that the chart Trump used to display his new tariffs “looks like he stole the arrivals board from LaGuardia.”

Fallon then assured his audience that Trump decided which country would receive which tariff based on a “a very precise mathematical formula.” “Then Trump said, ‘Forget that, we’re doing in Plinko-style,'” Fallon mocked, showing a graphic of the president with a giant Plinko board.

On Wednesday, Trump announced 10% tariffs on imports from any country into the United States as well as even higher tariffs for 60 countries and trading partners that have a high trade deficit with the U.S. Lesotho as well as Saint Pierre and Miquelon were hit the hardest, both incurring 50% tariffs. But all five of the U.S.’s biggest trading partners were hit with tariffs beyond 10%. The European Union, which was responsible for $605.76 billion U.S. imports in 2024, was hit with a 20% tariff, and China, which was responsible for $438.95 billion, was hit with 34%.

The move has already sparked a trade war. On Friday, China retaliated, announcing 34% tariffs on imports from the U.S.

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