Fox News viewers got an unexpectedly blunt look at the real impact of President Donald Trump's latest tariffs. During an interview with Rep. Nancy Mace (R-SC) earlier this week,  anchor Jon Scott pointed out that the tariffs could affect “virtually every sector of the American economy,” as a long list of goods scrolled across the screen. 

The list included everyday items like maple syrup, ground beef, fruits and vegetables, shoes, lumber and steel, as well as cars from BMW, Audi, Nissan, Mazda and Ford F.

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The U.S. threatened to impose 25% duties on imports from Mexico and Canada, with a 10% tariff on Chinese goods. Although Trump ran on a platform of lowering energy and grocery costs, analysts argue the tariffs will actually raise prices. Trump acknowledged that the action might cause “a little pain,” but he maintained that it was “worth the price.”

The tariffs have already triggered global pushback. Canada and Mexico responded with their own retaliatory tariffs, while China has imposed up to 15% duties on U.S. coal, liquefied natural gas, crude oil, and farm machinery. Beijing has also taken its case to the World Trade Organization and launched an antitrust investigation into Google. Meanwhile, the European Union has warned it will “respond firmly” if Trump extends tariffs to its member nations which seems likely.

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After consulting with their leaders, Trump decided to postpone tariffs on Canada and Mexico for a month, despite reservations. Mexico pledged to send 10,000 troops to its northern border to curb the flow of fentanyl and illegal migration, while Canada reaffirmed its commitment to border security. However, the economic uncertainty remains, with Trump suggesting more tariffs could follow.

Concern has also been voiced by some Republicans in Congress. Sen. Mitch McConnell (R-KY) criticized the action and warned that it would be expensive for consumers. While applauding the halt on Mexico, Sen. Chuck Grassley (R-IA) encouraged Trump to waive tariffs on potash, a necessary commodity for fertilizer.

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Markets reacted sharply, with the Dow dropping nearly 600 points before recovering slightly on news of the tariff pause. The Wall Street Journal referred to Trump’s trade war as “the dumbest in history,” and even Fox News’ coverage emphasized the potential economic consequences. 

American households are already under stress due to high prices, and the tariffs create even more uncertainty. Businesses and consumers alike are preparing for the impact while discussions continue, despite Trump’s insistence that they are an essential tool for applying pressure to trading partners.

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