Fox embraces 'the largest peacetime tax increase' in American history as Trump’s 'Liberation Day' tariffs loom
Multiple Fox News and Fox Business personalities have promoted Trump’s pronouncement of a so-called “Liberation Day” on April 2 — the day the president will unveil his global tariff scheme and possibly implement “the largest peacetime tax increase” in American history “outside of World War II.”
The tariffs, which Trump has labeled “reciprocal” even though they will reportedly take into consideration non-tariff trade barriers such as domestic value-added taxes, could reignite inflation, increase the unemployment rate, and trigger a recession. Trump’s 25% auto tariffs and 25% tariffs targeting Canadian and Mexican imports are also scheduled to take effect on April 2, following a one month delay for tariffs on many imports from America’s neighbors.
Related Knowledge Center: Democracy and politics
News organizations are scrambling to find a coverage approach that adequately informs the American public about the country’s slide from democracy to authoritarian rule.