Fox News host Jessica Tarlov expressed criticism of Republican officials on Wednesday, April 9, 2025, after President Donald Trump unexpectedly halted his broad tariffs that had caused turmoil in financial markets globally over the previous week.
“What always sticks out to me when we go on this Trumpian merry-go-round is the ritualistic humiliation that he subjects for people who work for him,” Tarlov told her co-hosts on “The Five.”
Trump’s sudden change of course came just one week after his administration announced what was termed “Liberation Day” tariffs. The president stated on Truth Social Wednesday that he would suspend import taxes for 90 days for most countries, with China being the exception.
Treasury Secretary Scott Bessent quickly adjusted to the shift in policy, describing the action as part of Trump’s “successful negotiating strategy.” According to Bessent, numerous countries have contacted the United States to renegotiate their trading relationships amid the recent volatility in the market.
White House Press Secretary Karoline Leavitt defended the president’s reversal by criticizing media coverage. She suggested reporters should have read Trump’s 1987 book, “The Art of the Deal,” to better understand his tactics. Leavitt informed reporters that they had failed to grasp Trump’s objectives and had incorrectly predicted that other nations would align more closely with China, which she claimed was not the case.
The announcement led to a historic rally in U.S. stocks, with the S&P 500 rising 9.5%, marking the most significant single-day increase since 2008. The sharp market response underscored the extent to which Trump’s initial tariff announcement had unsettled global financial systems.
While most countries were granted a reprieve, Trump raised tariffs on Chinese imports to 125%. The administration characterized the approach as rewarding countries that do not retaliate while maintaining pressure on China, the United States’ third-largest source of imports.
Tarlov noted that Trump acknowledged the tariff pause was not part of a grand strategy from “The Art of the Deal.” When questioned about the influence of the bond market on his decision, the president admitted he observed people becoming nervous. Tarlov stressed that Trump “had to cave” on his original plan.
She also drew attention to the conflicting messages from administration officials like Bessent, who now claimed the reversal was the plan “all along,” despite having given numerous interviews stating the administration would not retreat from the tariff policy.
“So, you were OK then with being made out to be a complete liar because you’ve been doing interviews on our network, going on the Sunday shows, saying, ‘Absolutely not, we’re not capitulating on this, we’re not going back on it,'” Tarlov said.
Other Trump allies lauded the move as a calculated negotiating tactic. Billionaire supporter Bill Ackman described it as part of Trump’s strategy to secure more favorable trade terms from other countries. House Speaker Mike Johnson echoed this interpretation.
However, some Republican senators raised concerns about the “baseline” 10% tariff rate that remains in place, which they consider high and potentially harmful to the economy.
The abrupt policy shift has created significant impacts across global supply chains. Freight orders have surged as companies that had paused shipments now resume operations. Logistics providers report a rush of orders for construction equipment, engines, truck parts, and various other goods.
Despite the temporary relief, uncertainty remains high in many industries. The automotive and aerospace sectors continue to delay shipments due to concerns about future policy changes.
The dynamic situation is forcing importers to reassess their decisions continually. Border state economies that heavily depend on trade, such as New Mexico, where exports have grown significantly in recent years, face particular challenges navigating the rapid changes in trade policy.
The president is reportedly considering granting exemptions to tariffs for individual companies and evaluating potential tariffs for other industries, including pharmaceuticals and lumber, adding another layer of complexity to an already unpredictable trade environment.
Goldman Sachs and JP Morgan had forecasted that Trump’s original steep tariff plan could induce a recession in the U.S. economy, highlighting the considerable economic stakes involved in these trade decisions.
