From Washington: Why The White House Believes in Its Tariff Strategy

The Fox News Rundown

FOX News Podcasts

Politics, Daily News, News

3.4 • 1.5K Ratings

🗓️ 2 August 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Many products and produce shipped into the U.S. will face higher tariffs next week, as President Trump meets his self-imposed August 1st deadline to reach new trade deals or implement reciprocal tariffs on U.S. trading partners. While the President secured some major deals before Friday, most nations received letters detailing the tax rates on their imports into the U.S. The White House claims that tariffs will generate trillions and benefit American workers, but some businesses are warning consumers that prices will rise. White House Deputy Press Secretary Kush Desai joins the podcast to discuss the President’s tariff strategy, the deals they hope to make with major trading partners, and the concerns some Americans have over the policy. Then, FOX Business White House Correspondent Edward Lawrence analyzes the July jobs report and discusses how a slowing labor market, concerns over tariffs, and other factors could influence the Fed’s decision to lower interest rates and the White House’s economic plans. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Saturday, August 2nd, 2025. I'm Jared Halper. President Trump's Liberation Day tariffs are set,
0:11.7	reorienting U.S. trade policy. President Trump has used tariffs to deliver exactly those wins.
0:17.8	Those are, you know, historic wins, an unprecedented market access for American businesses
0:21.9	and workers. But will lackluster hiring this summer give the president pause about his economic
0:27.9	plans? Companies have paused. So they're pausing future expansions. They're pausing hiring. It's not going
0:33.6	away. It's just paused. This is the Fox News rundown from Washington.
0:46.6	An awful lot of products and produce shipped to the U.S. will face stiffer tariffs next week.
0:53.2	Thursday night, President Trump delivered on his self-imposed
0:56.5	August 1st deadline to reach new trade deals or implement reciprocal tariffs on U.S. trading partners.
1:03.1	You know, we're taking in literally trillions of dollars for the country. This is making our country
1:09.2	very rich and respect it again.
1:12.0	Tariff rates range from 10 to 50 percent.
1:15.4	Ahead of the Friday deadline, President Trump had announced deals with some major trading partners,
1:20.1	including the EU, the UK, Japan, and South Korea.
1:24.0	But most nations simply received a letter, letting them know how much imports into the U.S.
1:29.9	will be taxed. Some countries are threatening retaliation, Canada among them. Others are still seeking
1:36.3	deals to bring down tariff rates. U.S. markets reacted negatively down sharply on Friday.
1:43.3	And many business groups are warning of higher prices
1:45.8	for you, the consumer. I raised those worries with White House Deputy Press Secretary Cush to
1:51.3	sigh in our conversation about tariffs and trade goals. We want to give CBP ample time here to
1:58.4	implement these tariffs. And yeah, beginning a week, the tariff rates that
2:04.3	President Trump pledged to implementing his letters are going to go into effect here.
	...

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