From Washington: "Liberation Day" Is Near

The Fox News Rundown

FOX News Radio

Politics, Daily News, News

3.4 • 1.5K Ratings

🗓️ 30 March 2025

⏱️ 41 minutes

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Summary

April 2nd will be "Liberation Day," a claim President Trump made as he prepares to impose reciprocal tariffs on dozens of countries. The President has confidence that this move can rebalance trade relationships, bring in new revenue, and encourage domestic production. Additionally, he announced plans to place a 25% tariff on all auto imports, a move that could heavily impact the car manufacturing industry. FOX Business White House Correspondent Edward Lawrence discusses how these tariffs could bring in money for the U.S., impact prices for consumers, and have potential consequences across the globe. The National Republican Congressional Committee aims to flip 26 Democratic-held seats in next year's midterm election. The organization hopes to capitalize on divisions within the Democratic Party to expand its majority. Meanwhile, several incumbent Democrats have announced they will not seek re-election, making the election map all the more challenging for them. National Political Reporter at The Hill Julia Manchester examines the races to watch in the 2026 election cycle and unpacks both parties' vulnerabilities. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Sunday, March 30th, 2025. I'm Jared Halpern. President Trump's tariff threats take effect this week.
0:11.7	There's a group of people that say it's not going to matter, that people will find other products.
0:17.3	If they absolutely have to have that one product, then they will buy that one product, but it won't substantially hurt their wallet. I'm Ryan Schmels. The 2026 election is still 20 months
0:27.7	away, but Republicans are looking to defy the odds and history. I'm curious to see how a number
0:34.4	of these X factors, like Doge, for example, these possible cuts to Social Security and Medicaid, Republicans saying they won't touch those programs.
0:42.3	But we're seeing Democrats really drill in on those issues.
0:46.0	This is the Fox News Rundown from Washington. Liberation Day.
1:00.9	That's how President Trump has long described April 2nd, the day he is imposing reciprocal tariffs on dozens of countries.
1:09.1	For weeks, the president has teed up the plan, simply saying
1:12.3	the U.S. will put the same duties on imports from countries that put tariffs on U.S. exports.
1:17.6	The goal is twofold. One, rebalance trade relationships and bring in new revenue. And two,
1:24.5	create new incentives for global corporations to open up shop in the U.S.
1:29.2	Make their products here, the president says, and they won't face tariffs.
1:33.4	But there are concerns from economists and investors and consumers worried about higher prices.
1:40.4	You know, and that's the question.
1:41.3	And that's the problem for the markets is we don't quite know what to exactly expect.
1:45.9	Edward Lawrence is the White House correspondent for Fox business.
1:49.8	You know, we are under currently 20% tariffs on all Chinese goods coming into this country.
1:54.2	Have we felt the effect?
1:55.5	No is the answer to that question.
1:56.8	We haven't seen it in the data and we haven't felt it.
1:59.1	So that's President Trump's argument that, hey, you're not going to feel these tariffs.
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