Fox Business host on Trump's tariffs: “iPhones are going to be $2,300”
Cheryl Casone: “Automobiles are going to go up 4, 5, 6, $7,000. Negotiate, negotiate, negotiate. Wall Street wants Trump to negotiate. Let's start talking. Let's figure this out.”
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From the April 4, 2025, edition of Fox News' Outnumbered
CHERYL CASONE (FOX BUSINESS HOST): Well, I think that what the president, and what many have talked about, is the Art of the Deal. And you're right, Donald Trump has been talking about unfair tariffs against our nation, since he wrote a book, and this is decades in the making. The China-United States fight is decades in the making. This has been going on for 20 years. China entered the WTO back in 2001 and we've spent a lot of years getting cheap stuff. That is likely going to end, at least for now. iPhones are going to be $2300.
KAYLEIGH MCENANY (CO-HOST): Wow.
CASONE: That's the reality. And then, look, when you've got – that's why a lot of the market is selling off, because they are realizing that the global supply chain is about to be completely upended.
But if you look at the decline of the American worker, and the shrinking of the American factory, and the loss of American jobs, it is because of China. I've always said we enabled China, as a nation. And I'm going back 20 years, I'm not talking about right now. So, the fight against China that Donald Trump has brought to the table has been successful and needed to happen. In his first term, tariffs against China were successful, they weren't this extreme. And then you had Joe Biden who didn't enforce what was supposed to be happening. China was supposed to be buying American agricultural products. You know what? They did not, and he didn't enforce it. So, they've had four years of a break, and now the break is over for China.
As far as the market goes, though, I have to say yes, there are a lot of big companies that have exposure to China and that is why the market is very concerned and has every right to be. The bigger picture is that we pull back. I think that, and I believe this, I think reciprocal tariffs would have gone over easier with market participants than the charts that they pulled out in the Rose Garden on Wednesday. When they saw the different percentages, I think that's when the market said "wait a minute, this is a little more dicey than we wanted to see." But, I think the reciprocal would've gone over just a little bit better.
MCENANY: Did you say $2300 iPhones?
CASONE: Yeah. Automobiles are going to go up 4, 5, 6, $7,000. Negotiate, negotiate, negotiate. Wall Street wants Trump to negotiate. Let's start talking. Let's figure this out.
MCENANY: Don't drop this guy and make sure you have Apple Care.