Fox News Anchor Drops Brutal News On Trump Official About Price Increases: ‘That’s According To Our Polling’
Fox News anchor Shannon Bream dropped some brutal polling news on Trump White House senior counselor for trade and manufacturing Peter Navarro about President Donald Trump and his economic policies.
The biggest round of Trump tariffs yet is set to hit on April 2 — what Trump calls “Liberation Day” but which the stock market appears to view more as Judgment Day.
Navarro was a guest on this week’s edition of Fox News Channel’s Fox News Sunday, during which he defended the import taxes as “tax breaks.”
But Bream pressed Navarro on some brutal Fox News polling that suggests Americans aren’t buying that, and believe they will pay more thanks to the policy:
BREAM: I want — I want to clarify, chickens aside, when you say a tax cut how exactly is that going to work? If you’re talking about credits for people who are buying new cars, those kinds of things, millions of Americans are not looking to buy new cars, but they are worried about the thousands that are estimated to turn up in their everyday costs for things because the tariff cost has to be passed on by these importers somewhere.
NAVARRO: Well, all right, let’s work through the — the economics of this.
First of all, we’re going to raise about hundred billion dollars with the auto tariffs alone. What we’re going to do is in the new tax bill that has to pass, it absolutely has to pass, we’re going to provide tax benefits, tax credits to the people who buy American cars. This is a genius thing that President Trump promised on the campaign trail. So that’s going to happen.
And in addition, the other tariffs are going to raise about $600 billion a year, about $6 trillion over a 10-year period.
And we’re going to have tax cuts. It’s the biggest tax cut in American history for the middle class, for the blue-collar deplorables. And — and that is going to — if you look at this, basically holistically as they say, consumers and Americans are going to be better off, including the — all the jobs they get.
And then you have gasoline. I don’t know if you know this, Shannon, but during the Biden administration, gasoline prices were close to 40 percent higher, a full dollar higher.
If you take a working family and you add that a dollar off, if we get our gas prices down, that’s more than $1,000 in their pockets.
Here’s the problem — it’s a national security problem and it goes something like this — we’ve got 16 million cars we buy every year. Half of those — half of those are imported with virtually no American content. And the other half, Shannon, 50 percent of that, is foreign content.
And it even gets worse because what the Germans and the Japanese and the South Koreans are doing is they’re turning this country from a manufacturing nation into an assembly nation. What the Germans and Japanese do is they send us the most important high value added, high-wage parts of the car here for us to assemble. Nineteen percent, only 19 percent of the cars we drive here and buy each year have American engines and transmissions.
BREAM: Okay.
NAVARRO: Germany and Japan alone account for 50 percent of that.
So, what we’re trying to do is get back our manufacturing capability.
(CROSSTALK)
BREAM: But let me tell you uh where the average American is about this, and I know you said you want to reassure them. But our recent polling shows that people believe that air — tariffs on imports are going to make their products more expensive, 69 percent believe that, and they think that it’s actually going to hurt the U.S. economy and hurt U.S. jobs. That’s according to our polling.
So, what do you say to people who say, listen, we hired the president to make the economy better, to make things cheaper. They believe the economists, the analysis that show, this price are going to show up somewhere. And President Trump himself has said there’s going to be some disruption in the short-term because of these tariffs.
NAVARRO: Trust in Trump. We have the example from the first term. We know that we impose historically high tariffs on China. We imposed aluminum and steel tariffs. We imposed — on washing machines, on solar.
And all we got out of that, Shannon, all we got out of that was prosperity and price stability.
And the reason why we’re not going to see inflation is because the foreigners are going to eat most of it. They have to. We’re the biggest market in the world, Shannon, and they have to be here. They have to be here.
And so, they’re going to cut their prices to absorb that. But the bigger picture here, the bigger picture here is restoring the American manufacturing base. We don’t have that. We’re an assembly thing.
You remember — look, something called the arsenal democracy back in World War II. That was how we beat the Japanese and the Germans with our military might. When Patton went to Berlin, it was with trucks, jeeps and tanks that were made in the auto plants of the Midwest.
And right now, the only thing that looks like the Midwest back then is Mexico. You go across the diaspora of cities in Mexico, there’s football field size, 50 football field size assembly plants that are down there making the engines for here. We can’t do that.
BREAM: Well —
NAVARRO: The Germans and the Japanese, the South Koreans and the Mexicans have taken our manufacturing capability. So, we’ve got to get that back.
BREAM: Yeah.
NAVARRO: And we’re going to do it in a way which is going to protect American consumers and create jobs for American workers. There’s going to be over a million new jobs —
BREAM: This week — this week —
NAVARRO: — created in the greater auto industry.
BREAM: This week, they roll out and then we will see the reality as it plays out. We’ve got your prediction.
And, Peter, come back once we have a few more months of these tariffs kicking in.
Watch above via Fox News Channel’s Fox News Sunday.
