Saturday Night Live‘s Weekend Update took aim at Donald Trump‘s massive tariffs, which have caused markets to tumble, in the process making a dig at last week’s musical guest, Morgan Wallen.
“America elected Trump to run the country like a business, but it turns out he’s running it like one of his businesses,” Colin Jost joked at the outset.
Jost then alluded to how the president has shared a video about how he ‘s “purposely crashing the stock market.”
“I love that you can intentionally ruin the economy and still get to stay president,” he said. “It’s like if you drunk-drove your car through the window of the DMV and they were like, ‘License renewed!’ It’s insane. This was the worst week for the stock market since summer 2020, but you have to remember: the president then was…also Trump.”
Noting how much value has been wiped out by the tariffs, Jost joked that money is leaving the stock market “faster than Morgan Wallen at goodnights.”
The country singer, who was SNL‘s musical guest last week, left the stage prematurely at the end of the show and has since been hawking merchandise off the stunt.
Co-anchor Michael Che then riffed on Trump’s justification for the tariffs.
“Trump announced a tariff on all goods imported into the U.S., saying that the U.S. has been plundered and raped by other countries. And Trump will not stand for plundering,” he joked.
Turning to how some tariffs were oddly put on islands with zero human beings but plenty of penguins, Jost offered an explanation.
“Well, maybe penguins should stop pushing their gay agenda,” he said, as a picture showed on screen of the children’s book And Tango Makes Three, which depicts two male penguins having a family.
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