'Trump is bending to reality': Fox reporter exposes President's latest 'sign of retreat'
Donald Trump just offered another "sign of tactical retreat" from his biggest trade plans, according to a FOX Biz senior correspondent Saturday.
Fox Business correspondent Charlie Gasparino earned the ire of MAGA when he recently reported that conservatives were wrong to suggest Trump outsmarted the world with tariffs. Instead, according to Gasparino's reporting, Trump and his closest aides became terrified about impacts on the long-term bond market, which is seen as more stable than stocks.
"I mean, I want to tell you right now that Donald Trump outsmarted the world, trust me," Gasparino told Fox News host Sandra Smith. "I'm an American. I support my president. But that's not really what happened here."
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Over the weekend, Gasparino offered more "breaking" news.
"Breaking: It’s classic news management for Trump & Co to announce the so-called Apple carve out (no tariffs on electronics) late Friday when the news of the week is done, but make no mistake, this is another sign of a tactical retreat from the White House’s initial tariff strategy, which nearly led to a 2008 style market meltdown," he reported on X. "I hate using the term 'Lehman Moment,' which gets thrown around so much it’s cliched and not very descriptive. Lehman and the banking collapse involved private sector folly of irrational exuberance involving housing. This moment was created by massive amounts of debt, our dependence on foreigners even adversaries to keep buying it, and the government doing a U turn on global trading relationships, which needed fixing not destroying."
He added, "As one major GOP political adviser just told me 'Trump is finally bending to reality' that if you want to fix global trade with a sledge hammer the cure can be worse than the disease."