Fox News anchor Julie Banderas was “realistic” on Thursday about the impact of President-elect Donald Trump’s threatened tariffs on Canada, Mexico and China, telling her viewers that the American consumer would ultimately absorb the increased costs of goods.
Speaking to small business owner and columnist Gene Marks on Thanksgiving Day, Banderas first brought up a recent column by the Wall Street Journal’s editorial board warning that the American economy could be in for a “wild ride” as Trump aims to impose tariffs “early and often.”
“The hopeful interpretation now is that Mr. Trump is merely using tariffs again as a negotiating strategy to get these countries to help. If they act to reduce the flow of drugs and people, he’ll lift the tariff threat and claim political victory at home,” the board wrote this week. “The problem is that this strategy isn’t cost free and there can be collateral damage.”
With Trump insisting he will impose 25 percent tariffs on Canada and Mexico and an additional 10 percent on China until those countries help curtail “crime and drugs” flowing into the United States as well as illegal immigration, Banderas noted that both suppliers and retailers will just increase prices to deal with the taxes on imported goods.
“Let’s be realistic. I mean, a lot of American companies do not buy American. They do rely on a lot of merchandise that is purchased from other countries,” she said. “So, I mean, while this is going to it’s set to punish other countries that don’t voluntarily cooperate with President Trump on his immigration plan, such as Mexico and Canada, could it hurt American business owners at the same time and backfire?”
Saying that his clients are buying right now from their overseas suppliers and storing goods in advance “of this sort of tariff war,” Marks added that some companies are “looking for alternative suppliers” or potentially deciding to go with higher-priced American providers.
At the same time, he acknowledged that this “could” mean that American consumers will end up paying higher prices, despite much of the electorate siding with Trump over his promises to reverse inflation.
“I think if American companies are forced to buy American, it is going to cost more ultimately,” Banderas reacted. “And then who’s going to pay for that? We are.”
She continued: “I mean, we are going to be buying the merchandise that they are going to have to raise the costs on because they’re not going to be buying from foreign countries. So ultimately, it does come down to the taxpayer dollar. We’ll see how that works.”
Though Banderas appeared clear-eyed about who will inevitably face the brunt of these proposed tariffs, others within the Fox News universe have shrugged off the likely price increases or even celebrated them.
During a Fox Business panel discussion this week, for instance, anchor Cheryl Casone dismissively noted: “The other component of this is the price — the consumer prices. They will go up. Eh, you know what? Maybe they will.”
Appearing on MAGA loyalist Laura Ingraham’s Fox News program on Monday, the president-elect’s son Eric Trump seemingly revealed he had no clue how tariffs actually work, likening them to sanctions.
“You want to allow drugs to come through our southern border? We’re going to tariff you,” he exclaimed. “You want to allow them to come through Canada? We’re going to tariff you.”
