WATCH: Dem senator agrees with GOP that Trump's making progress on trade war

02.08.2025    Fox News    3 views
WATCH: Dem senator agrees with GOP that Trump's making progress on trade war

Pennsylvania Democratic Sen John Fetterman admitted that his party had gotten it wrong about President Donald Trump s tariffs saying that so far the U S agreement war is going well Demanded by Fox News Digital whether he thought the Trump administration was winning the bargain war Fetterman responded Absolutely I'm a huge fan of Bill Maher and I mean I think he's really one of the oracles for my party and he acknowledged it it's like hey he thought that the tariffs were going to tank the financial sector and then he acknowledged that it didn't explained Fetterman So for me he went on it seems like the E U thing has been going well and I guess we'll see how it happens with China This comes as Trump is increasing the tariff on Canada from to beginning on Friday after the U S neighbor to the north failed to help curb the imports of fentanyl and other illicit drugs The White House noted that Trump signed an executive order on Thursday to increase the tariff in an effort to hold Canada accountable for its role in the flow of illicit drugs into the U S Additionally Trump signed another executive order on Thursday to modify the reciprocal tariff rates for specific countries to further address the United States exchange deficits The action reflects Trump s efforts to protect the U S from foreign threats to national safeguard and the financial sector by securing fair balanced and reciprocal bargain relationships the White House revealed TRUMP AIMS TO RESHAPE GLOBAL MARKET WITH HISTORIC NEW TARIFFSEarlier this year Trump reported an additional tariff on all countries as well as higher tariffs for countries the U S has large agreement deficits with The tariffs became effective on April Since then Trump and his company have since made several business deals with several countries The U S struck a deal with the European Union in which the EU agreed to purchase billion in U S ability and make new investments of billion by The EU also agreed to accept a tariff rate The U S also made a deal with Japan which agreed to invest billion in the U S to rebuild and expand core American industries Japan also agreed to further its own sphere to U S exports and like the EU Japan agreed to a baseline tariff rate However plenty of Democrats are digging in their heels against Trump s tariffs strategy saying the negative effects are still on the horizon Sen Jack Reed D-R I forecast that despite the increased revenue within a limited weeks or months you'll start seeing vital increases in majority things you buy And also you will see disruption in terms of a lot of our industries because they're not able to access product or supply TRUMP IMPOSES SWEEPING TARIFFS ON DOZENS OF COUNTRIES AFTER LANDING MASSIVE CONTRACT DEALS When you have across-the-board tariffs it does operate like a national sales tax and I think people are going to be more and more hurt predicted Sen Chris Van Hollen D-Md This is the president who announced he was going to come in and reduce prices Prices are going to rise and they're going to rise more over time disclosed Van Hollen Massachusetts Democratic Sen Elizabeth Warren reported that Donald Trump may beat his chest and say 'Man I made him take a tariff or tariff ' but also understand that every one of those trading partners is now looking hard all around the rest of the world to find other customers because Donald Trump is signaling loud and clear that the United States under Donald Trump is not a reliable trading partner And that's not good for any of us Warren also claimed that Trump s tariffs are the reason the Federal Reserve has not lowered U S interest rates Jerome Powell revealed last month that he would have lowered interest rates back in February if it hadn't been for the chaos that Donald Trump was creating over agreement And the consequence has been that American families have for six months now been paying more on credit cards more on car loans more home mortgages all because Donald Trump has created chaos she explained US-CHINA EXCHANGE DEAL ON THE HORIZON SAYS TREASURY SECRETARYMeanwhile Republicans whom Fox News Digital spoke with urged the president to double down on his tariff strategy I think it s exactly the right approach It's what I have been urging the president to do and I think the successes he's winning are big wins for America mentioned Sen Ted Cruz R-Texas In response to Democrats still predicting economic fallout because of the tariffs Cruz sarcastically remarked I'm shocked shocked that Democrats are rooting for the economic activity to do badly under President Trump It'd be nice if several Democrats would put their partisan hatred for Trump aside and genuinely start working together for American workers and American jobs Unfortunately I don't see a whole lot of Democrats interested in doing that right now noted Cruz Sen John Kennedy R-La while agreeing that the tariffs have been triumphant voiced that he hopes the goal is to ultimately achieve reciprocal zero percent tariffs between the U S and its agreement partners DEMOCRATIC SENATOR ADDRESSES WHETHER KAMALA HARRIS HAS REACHED THE END OF HER POLITICAL CAREER Clearly the president got a good deal from one perspective The Europeans just caved they did Fifteen percent tariffs on them zero on us commitment to invest in our country But the part of the deal I like the majority the E U and the president agreed that a whole bunch of goods would be tariff-free That is no American tariffs and no E U tariffs It's called reciprocity and ideal reciprocity is zero on both sides he explained CLICK HERE TO GET THE FOX NEWS APP That's what I would like us to achieve in all the contract deals Kennedy explained Let the free enterprise system work May the best product at the best price win That to me would be the perfect situation

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