The Murdoch media empire is taking a stand against President Donald Trump's tariff policies.
According to Newsmax, Rupert Murdoch's entities including The Wall Street Journal and Fox News have voiced strong criticisms against these trade measures.
Rupert Murdoch's media outlets, prominently The Wall Street Journal and Fox News, have recently escalated their critiques of President Trump's imposition of tariffs on various U.S. imports.
This critical stance draws attention to the adverse effects such policies have on small business owners and the broader economic landscape.
Editorial boards of both The Wall Street Journal and the New York Post have published pieces disapproving of the President's tariff strategies. They argue that these policies could potentially harm the U.S. economy rather than benefiting it. On the show "Fox & Friends," co-host Steve Doocy elevated these concerns by discussing a New York Post cover story that described the detrimental impact of tariffs on small enterprises.
Steve Doocy from "Fox & Friends" highlighted on the show: "The New York Post, today, their cover story is 'Mr. Trump, Save My Business,' and what it talks about is how many mom-and-pop shops across the United States are in really big trouble."
"A lot of the small businesses are having to either lay off people or hike their prices, or close. And they are just not equipped."
Less than 7% of firms believe they could continue under these tariff conditions over the next two years, as reported in surveys. Despite this economic strife, a segment on the same channel revealed that some voters in Bethpage, New York, still back President Trump despite the financial burden imposed by the tariffs.
During program discussions, the potential aftermath on the U.S. consumers was also a focal point. Stuart Varney, a host on Fox Business, underscored how tariffs could increase costs for average Americans, thereby exacerbating economic pressure.
The New York Post and The Wall Street Journal had their editorial boards warn about the risks associated with Trump’s tariff decisions. They expressed concerns that these financial stressors are primarily hitting small business owners, who are less equipped to absorb such economic shocks.
The Wall Street Journal has extensively covered the implications of these tariffs. One column titled "Xi Jinping's Anti-Tariff Tour" points out that while Trump's trade war attempts to bring back fairness to U.S. trade, it inadvertently opens doors for China to strengthen economically and diplomatically. Another reflected on the broader impacts, saying, "Welcome to the new tariff economy, where you still pay onerous taxes, endure punishing regulation, and now must also navigate the political minefield of arbitrary tariffs."
President Trump stands by his tariff strategy, defending it as necessary to coerce other nations into lowering their tariffs on U.S. products. He argues that significant U.S. trade deficits have been harmful, undermining national security by making the U.S. dependent on foreign manufacturing and adversely affecting the domestic industrial base.
The concerns of small businesses and economic analysts suggest that the trade policies championed by President Trump are not without their domestic casualties. These tariffs, while aimed at creating a balanced trade environment, are perceived broadly by Murdoch’s outlets as misguided attempts that might weaken rather than strengthen the U.S. economic landscape.
