Top Republicans are said to be “terrified” that President Donald Trump’s trade tariffs will tank their electoral chances the same way they’ve tanked the stock markets this week, Fox & Friends host Steve Doocy revealed today.
Wednesday’s edition of the MAGA-friendly morning show saw correspondent Chad Pergram tell the panel that Democrats were adamant that Trump was crashing the economy with his “Liberation Day” tariffs.
“Given the fact that China’s now going to have an 84 percent tariff on U.S. goods, I see that the stock market futures, the market’s going to open in 90 minutes — they’re down like 600 or 700 points again,” Doocy said in response.
“How much pressure are Republican lawmakers on Capitol Hill getting from their constituents? And a lot of them have major donors who are invested in the stock markets, and they’re terrified!”
“Well, you’re starting to hear some of that,” Pergram replied. “Some of them will concede that privately, but again, most of them publicly will say, look, you know, we’re willing to give him that runway, as I said a bit ago. They want to see if this will work.
“This is where I thought this was kind of crystallized in the hearing yesterday before the Senate, where Thom Tillis, the Republican senator from North Carolina who probably faces a competitive reelection bid next year, he said if this doesn’t work, and he said this to Jameson Greer, ‘If this does not work, Whose throat do I get to choke?‘”
“Some people are very leery about that,” he added.
Elsewhere in the show, co-host Ainsley Earhardt reiterated a point made by Trump officials that the economic shock caused by the tariffs “may be challenging at times,” and conceded that a number of American business owners may be forced out of business as a result of the massive tariffs imposed upon them.
China has imposed a 84 percent retaliatory tariff on the U.S. after being hit with a 104 percent markup on imported goods by the current administration.
JPMorgan CEO Jamie Dimon admitted on Wednesday that a recession now seems “likely,” while the investment firm increased the odds of a global recession from 40 to 60 percent on Monday.
Trump meanwhile has remained buoyant about the impact of the tariffs, and told House Republicans on Tuesday that they will prove to be a huge boost to the party’s fortunes ahead of the 2026 midterms.
“We’re going to win the midterm elections and we’re going to have a tremendous, thundering landslide. I really believe that,” Trump told attendees at the National Republican Congressional Committee fundraising dinner.
“It’s so important that we pass the big, beautiful bill,” he said, according to The Hill. “And I really think we’re helped a lot by the tariff situation that’s going on, which is a good situation.
“It’s going to be legendary, you watch.”
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