Shep Smith: Trump Is Crashing Stock Market With Trade Wars
Fox News' Shepard Smith opened up his program by detailing a 500-point drop in the stock market after Donald Trump imposed more tariffs against China.
Before the 2016 Presidential election, financial planners told me the only way the U.S. economy and markets could be stalled is by presidential malfeasance.
Donald Trump is doing his best to do exactly that because he's fixated on 50-year-old nonsensical John Birch Society beliefs about trade.
“Any notion that we are in a manageable trade dispute with China is now dispelled." Smith said. "This is a trade war. America just fired another shot and you are about to pay."
The trade talks with China collapsed and Trump announced new tariffs.
“The Dow was up nearly 300 points then the president tweeted about the new tariffs. That was like 1:30 this afternoon. See it? Now the Dow is down 228 -- a more than 500-point plunge," he continued.
"So what does this mean? Every single thing that China sells to America will be taxed."
Smith outlined every product that would be taxed, causing Americans to pay more for China's products.
"Now we wait for Bejing to retaliate. "
Smith then threw it to Fox News' White Hourse correspondent John Roberts where Smith sniped, "The latest tweet from the president, the latest official statement, is a clip of Lou Dobbs railing on CNN. Is anybody talking about this trade war?”