Fox News is now attacking President Trump and it’s shocking to see.
On Tuesday, Fox News’ Peter Doocy raised concerns about how President Trump’s ongoing trade war is impacting Americans’ retirement savings, with many seeing their 401(k)s lose value. He highlighted that while the president’s policies aim to confront global trade imbalances, the consequences could stretch beyond just the markets, affecting hardworking Americans who are depending on their savings for the future.
Doocy noted that President Trump’s approach to tariffs has been evolving. While last week he made some temporary exceptions for certain products from Mexico and Canada, this week, in the face of mounting criticism, especially from conservative economists, Trump has decided to double down on his strategy. Doocy pointed out that President Trump’s decision could have a significant impact on key sectors in states like New York, Minnesota, and Michigan, where millions of people may face rising prices due to higher tariffs on Canadian energy.
At the same time, Doocy highlighted the upcoming meeting between the president and top CEOs, including those from major American companies like IBM, HP, and Qualcomm. While President Trump remains secure in his position and doesn’t need to worry about re-election, these CEOs must explain the impact of his trade policies to their shareholders and boards.
Doocy also raised a key issue facing Americans: as retirement accounts continue to lose value, it’s becoming increasingly difficult to convince federal workers to retire, especially when their financial futures are uncertain. Trump’s original goal of encouraging federal workers to retire by the thousands may now face more challenges as retirement savings are being “throttled” by the effects of the trade war.
In a previous press conference, when asked if his trade policies had spooked the markets, Trump fired back, blaming “globalist countries and companies” and insisting the disruptions would only be temporary. Yet, as retirement accounts shrink and the economy faces volatility, many Americans are left wondering how long this “temporary” setback will last. As the White House faces these growing concerns, it’s clear that more answers are needed to reassure those whose financial security is on the line.