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Fox News host Shannon Bream confronted White House senior counselor for trade and manufacturing Peter Navarro on Sunday with polling that shows more than half of Americans believe tariffs on imports will raise prices and harm the U.S. economy.
Why It Matters
Fox News is a conservative-leaning network frequently praised by President Donald Trump and known for its generally favorable coverage of his administration. Notably, Secretary of Defense Pete Hegseth is a former co-host on the network.
A core tenet of Trump's economic policy has been the threat and imposition of tariffs. Tariffs are taxes on imported goods, typically paid by the importing businesses, which can then pass costs onto consumers through higher prices. The importing business could be any American company that purchases goods from foreign suppliers and brings them into the country for resale, manufacturing, or distribution. Tariffs are often used to protect domestic industries by making foreign goods more expensive and encouraging consumers to buy locally.
Trump promised to lower prices and reduce inflation, however, some economists believe his economic policies will have the opposite effect.
What To Know
On Fox News Sunday, Bream highlighted a Fox News poll showing that 69 percent of Americans believe Trump's tariffs will make products more expensive. Seventeen percent said the tariffs would have no impact on prices, while 7 percent believed they would make products less expensive.
It also found that 53 percent of respondents believe tariffs on imports will hurt the U.S. economy, while 28 percent said they will help, and 11 percent said it will make no difference.
The survey, which was conducted for Fox News by Beacon Research and Shaw & Company Research, included 944 registered voters with a margin of error of plus or minus 3 percentage points.
Navarro responded to the poll data and said, "The reason why we're not going to see inflation, is because the foreigners are going to eat most of it." He added that "we're the biggest market in the world, Shannon. So, they have to be here, they have to be, and so they are going to cut their prices to absorb that."
On Saturday, Trump said he "couldn't care less" if foreign car makers increase their prices for U.S. consumers in response to new tariffs. Bream referenced the president's comments and asked Navarro, "What's the message to the U.S. consumer?"
Navarro responded by echoing a Trump administration refrain touting the supposed benefits of tariffs: "The message is that tariffs are tax cuts, tariffs are jobs, tariffs are national security, tariffs are great for America, tariffs will make America great again."
Economists have warned that escalating trade disputes brought on by tariffs and subsequent retaliatory tariffs could lead to higher consumer prices and a potential slowdown in economic growth.
Trump has long touted tariffs as central to his economic strategy, arguing that taxing imports will encourage domestic production and shrink the budget deficit. However, experts say the transition to U.S.-based manufacturing could take years, as companies would need time to plan, construct, and staff new factories.
What People Are Saying
Robert Reich, an economist and President Bill Clinton's Labor secretary, on X, formerly Twitter, earlier this month: "The economy is showing severe warning signs after Trump's first month in office. This shouldn't be surprising. He doesn't understand the economy and tanked pretty much every business he ever touched."
Gerard Lyons, chief economic strategist at Netwealth, previously told Newsweek: "It is hard to quantify fully the impact, but in qualitative terms the markets believe tariffs will raise prices."
European Commission President Ursula von der Leyen said in a statement Wednesday: "Tariffs are taxes—bad for businesses, worse for consumers equally in the U.S. and the European Union."
President Donald Trump told reporters Wednesday: "If parts are made in America and a car isn't, those parts are not going to be taxed or tariffed and we will have very strong policing... It's one number and that number is going to be used to reduce debt greatly in the United States and build things."
What Happens Next?
The president has doubled down on tariffs and his administration has suggested they are not overly concerned about stock market swings for now. The administration has increasingly signaled that the American people should expect some economic disruptions in the near term.
New Trump tariffs are slated to take effect on April 2, which the president has dubbed "Liberation Day."
The president aims to launch a range of import taxes, including so-called "reciprocal" tariffs to match the rates charged by other countries. He has specifically discussed targeting allies, including the European Union, South Korea, Brazil and India, among other countries. He has announced 25 percent tariffs targeting automotive imports as well.
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About the writer
Mandy Taheri is a Newsweek reporter based in Brooklyn. She joined Newsweek as a reporter in 2024. You can get ... Read more