Trade | Media Matters for America

Trade

Issues ››› Trade
  • Trump's tariffs could hurt millions of Americans, but media focus instead on presidential drama

    Blog ››› ››› BOBBY LEWIS


    Sarah Wasko / Media Matters

    On May 31, CBS News reported on retaliatory tariffs from Canada, Mexico, and the European Union, targeting numerous products including American steel and aluminum, playing cards, motorcycles, and tobacco. European Commission president Jean-Paul Juncker said that Trump’s move “leaves us with no choice but to proceed … with the imposition of additional duties on a number of imports from the U.S.”

    News reports and experts say the tariffs will hurt Americans in a number of ways. Though the steel and aluminum industries stand to benefit, “almost every US industry” that uses these metals will be faced with higher manufacturing costs, which “will likely get passed on to consumers.” These higher costs could “kill hundreds of thousands of jobs” as companies scramble to offset artificially high prices. Retaliatory tariffs levied by other nations are threatening a wide range of businesses, from agriculture to commercial production. According to The New York Times, even Trump’s own Council of Economic Advisers concluded that the tariffs would hamper economic growth.  

    But media coverage of U.S. allies’ responses to Trump’s economic attack centered on  the sensationalism and drama of the moment. Though CNN interviewed or cited economists in a few segments on the tariffs’ effects for American workers and business, the majority of the punditry  focused on the shock value of levying tariffs against U.S. allies. CNN also interviewed Stephen Moore, a Trump campaign economic advisor whom CNN hired as its in-house defender of the president who dodged policy questions to muddy the facts and obsequiously push the Trump agenda (which is how interviews with former or current Trump officials usually go); the network did not interview any workers who could potentially be hurt by the retaliatory tariffs.

    Fox News, meanwhile, played up the personal drama Trump incited with Canadian Prime Minister Justin Trudeau. Fox personalities said that “the public spat between these world leaders [Trump and Trudeau] is something to watch,” argued that Trudeau should “maybe … realize it’s not personal,” and generally attacked Trudeau for, among other things, “trying to out-alpha President Trump.” Lou Dobbs hailed Trump’s defeat of our allies’ “globalist conspiracy,” and on Dobbs’ show, sworn Nazi sympathizer Sebastian Gorka denounced Canada’s response to Trump because Canada “started it.”  When Fox figures tried to analyze the tariffs, they usually didn’t get beyond spouting worn-out taglines such as the electorate wanted the “disrupter-in-chief” to provide “a complete change in direction.” Jesse Watters got creative, however, when he positively compared Trump’s tariffs to the Smoot-Hawley Tariff Act, a 1930 tariff commonly understood to have “exacerbated the Great Depression.” (Fox & Friends did feature one dairy farmer who, predictably, supported Trump’s agenda.)

    Much of the coverage on MSNBC also focused on the spectacle and/or provided a superficial analysis of Trump’s actions. But anchors Stephanie Ruhle and Ali Velshi, along with correspondent Vaughn Hillyard, did do substantial reporting on how the tariffs might impact American laborers, coverage which often included the workers themselves, during their combined three hours of hosting time., Velshi and Ruhle dedicated segments to explaining the far-reaching nature of the tariffs from U.S. allies (as well as an earlier round of tariffs from China) and how they might affect laborers and consumers alike.

    On-site reporting focused on affected farmers, and several reports focused even further on specific industries -- pork products, potatoes, and bourbon among them -- targeted by the tariffs.

    Ruhle, Velshi, and Hillyard notwithstanding, a common facet of tariff coverage was, as Fox & Friends Weekend co-host Pete Hegseth said, the “unpredictability” of the situation, because it “makes for good TV.” With Friday’s White House announcement of another $50 billion in tariffs against Chinese products, media need to move beyond the drama and focus on the substance and the potential devastation to some Americans.

  • Fox News isn't covering Ivanka Trump's new China trademarks potentially worth millions

    After Ivanka’s trademarks were approved, President Trump promised to “save jobs” at ZTE, a Chinese telecom that traded with Iran and North Korea. Ivanka then got more trademarks.

    Blog ››› ››› BOBBY LEWIS

    On May 28, The New York Times reported that Ivanka Trump received seven new trademarks from the Chinese government six days before her father, President Donald Trump, “vowed to find a way” to save Chinese telecommunications company ZTE from bankruptcy. Fox News has yet to cover the story.

    The Times article noted, “Even as Mr. Trump contends with Beijing on issues like security and trade, his family and the company that bears his name are trying to make money off their brand in China’s flush and potentially promising market.” According to experts, “the timing appeared to be a coincidence, given how quickly Ms. Trump won her previous trademark requests from the Chinese authorities,” but one of the experts quoted in the piece noted, “From application to registration, this is very fast.” Another expert disagreed on the speed, but acknowledged that Ivanka’s position and fame likely played a role in the approval process. And according to American ethics experts, the trademarks, along with the family’s existing businesses in China, suggest that Chinese officials may be giving the president’s daughter “extra consideration” because she’s “the president’s daughter — a person who also works in the White House.” The trademarks are potentially worth millions.

    Trump’s action to “save jobs” at ZTE came after the Chinese telecommunications company was “left paralyzed after American officials forbade companies in the United States” from selling goods to ZTE, after the company violated U.S. trade controls on Iran and North Korea. The American intelligence community has also warned that ZTE products “may pose an unacceptable risk” of espionage. Ivanka Trump was granted an additional two trademarks eight days after the president’s announcement. 

    Unlike other networks, Fox News has yet to find time to cover the Times story published yesterday. But it has discussed the following about the president’s daughter:

    • On May 28, Fox & Friends co-host Ainsley Earhardt suggested Chelsea Clinton criticized Ivanka’s complicity in her father’s actions because she wants to run for president, and diaper enthusiast and Turning Point USA Director of Urban Engagement Candace Owens bragged about meeting the first daughter.
    • A Special Report package mentioned an American diplomat who had “accompanied Ivanka Trump to the South Korean Olympics in February.”
    • On May 29, RNC spokesperson Kayleigh McEnany mentioned on Fox & Friends an initiative Ivanka has worked on with the World Bank.

    Trump’s orbit, from campaign to the presidency, is certainly not short on corruption and scandal, and this is not the first such story that Fox News has ignored or downplayed. The network has dutifully and reliably downplayed story after story -- usually related to the Russia investigation(s) -- that puts the president in a bad light.

  • Fox News figures are downplaying Trump’s moves towards a trade war with China

    Blog ››› ››› GRACE BENNETT


    Sarah Wasko / Media Matters

    As President Donald Trump ramps up a potential trade war with China, Fox News and Fox Business figures have been downplaying the damage his actions could do.

    Since the beginning of 2018, President Donald Trump has been rolling out increasingly aggressive tariffs on Chinese goods. In January, the president announced new tariffs targeting solar panels and washing machines, goods that primarily come from China. In March, he announced further tariffs on steel imports. And this week, the U.S. announced $50 billion worth of new tariffs, prompting the Chinese government to retaliate, placing tariffs on “128 American-made products” and asserting that the U.S. tariffs “violate World Trade Organization rules.”

    Following the news of China imposing retaliatory tariffs, CNN interviewed several economists who expressed concern that the increased economic hostility between the two nations might soon spiral into an all-out trade war. Joseph Brusuelas, chief U.S. economist at accounting and consulting firm RSM, told CNN, “This is a classic lose-lose proposition, no one wins.” After Trump threatened to impose additional tariffs, and the Chinese government promised to respond in kind, experts warned that additional tariffs would hurt both countries.

    Despite experts’ concerns, Fox News and Fox Business figures are downplaying fears of a trade war:

    • On America’s Newsroom, Fox’s Maria Bartiromo dismissed concerns about trade, commenting that she’s “not worried” about trade fears because she looks “at the broader picture.”

    • On Fox News’ Fox & Friends, host Steve Doocy downplayed Trump’s trade moves by claiming, “there are no tariffs,” arguing that “this is the starting point,” and “it’s all a suggestion, it’s all a negotiation.”

    • Fox News contributor Tammy Bruce argued that “this is not about a trade war,” and compared America’s trade deficit with China to “a battered woman situation.” She also asserted that ““this will, in the end, because of Trump’s ability to negotiate, work out well.”

    • During the same broadcast, Fox Business’ Charles Payne claimed that “President Trump [has reminded] us that we’re not in a trade war,” because, “China already won that.”

    • On Fox News Radio's The Brian Kilmeade Show, Fox’s Brian Kilmeade dismissed the possibility of a trade war, claiming, “I do believe this is what we call the pre-fight, and so far, it's hype. It doesn't mean there's actually going to be a Showtime, HBO main event.”

    • Trump sycophant Lou Dobbs dismissed those who claim there is no trade war, claiming that there already is a trade war with China, but the United States simply wasn’t “fighting it until this president arrived in Washington.”

    • Fox Business' Stuart Varney explained away stock market backlash to Trump's tariffs as "an emotional response,” and claimed that “all this talk of a trade war” is “overblown.”

    • Frequent Fox guest Ron Meyer referred to China’s retaliatory tariffs as “minor.”

    • Fox’s Charles Payne claimed that the stock market drop following the announcement of China’s retaliatory tariffs was actually Wall Street “not only overreacting but trying to intimidate the White House."

    • On America’s Newsroom, Bartiromo claimed that she’s “not afraid of a trade war.” and that Trump’s actions are “more of a negotiation.”

    • During an appearance on America’s Newsroom, Payne dismissed fears about a trade war by claiming “we’re already in a trade war. We have been fighting with one hand behind our backs.”

    • On Fox News’ Outnumbered, Fox’s Geraldo Rivera argued that China’s retaliatory tariffs were insignificant and represented “chump change,” and expressed his confusion about why the market responded “so emotionally” to China’s tariffs.

    • During the same broadcast, Fox’s Trish Regan expressed her dismay at unfair Chinese trade policies, and said, “If it takes throwing around the idea of a few tariffs … maybe that works. Maybe it is, indeed, the art of the deal.”

    • Fox’s Sean Hannity dismissed concerns about a trade war on his radio show, claiming, “I don’t think there’s ever going to be a trade war.”

    • On Fox News’ Outnumbered, Fox’s Dagen McDowell defended Trump’s “approach with China,” claiming that there is a “method to this madness,” and that we don’t know if these “tariffs will ever be put in place.

  • Trump’s pick for National Economic Council is a CNBC host who gives bad financial advice

    ››› ››› BOBBY LEWIS & MADELINE PELTZ

    President Donald Trump has told people he has chosen CNBC's Larry Kudlow to replace Gary Cohn as the director of the National Economic Council. Kudlow has no formal training in economics, and he has a history of making poor financial predictions, pushing conservative economic talking points, and making outrageous and offensive comments.

  • Fox uses “lousy” May jobs report to push Trump's job-killing economic agenda

    Blog ››› ››› ALEX MORASH

    Fox News used the Bureau of Labor Statistics’ (BLS) underwhelming jobs report for the month of May as proof that Congress needs to pass President Donald Trump’s trickle-down economic agenda that, in reality, would strip working- and middle-class Americans of basic public services and hand top income earners a gigantic tax cut.

    On June 2, BLS released its jobs report for May 2017, which estimated the United States added 138,000 new jobs last month while the unemployment rate fell slightly to 4.3 percent. The jobs number fell below economists’ expectations and The Washington Post declared that the report showed that the “job market stumble[d]” last month. While the number of new jobs reported was weaker than expected, The New York Times noted the overall health of the economy was still strong enough for the Federal Reserve to possibly raise interest rates and pointed out that wage growth was up 2.5 percent from this time last year.

    In response to this news, Fox pushed the absurd claim that the report is proof that big business needs Congress to pass Trump’s economic agenda of tax cuts and gutting consumer protections to stoke further economic growth and job creation. During the June 2 edition of Fox News’ Fox & Friends, guest Steve Hilton, host of The Next Revolution, used the jobs report to claim the U.S. was in a “jobs crisis” and needed Trump’s economic agenda to be enacted. On Fox Business’ Varney & Co., host Stuart Varney described the jobs number as “lousy” and “disappointing” while correspondent Ashley Webster claimed the jobs number shows the American economy is “in a holding patterning” that is “waiting on Washington” to act. Fellow Fox Business host Maria Bartiromo added that “what this jobs number tells us is that business is still cautious” and companies are “sitting on cash” because they are “strangled by all of the regulatory environment” and waiting for Congress to pass Trump’s agenda:

    In reality, Trump’s economic agenda has been described as a “repugnant grab bag” of tax cuts for top-income earners that guts funds for Medicaid, children’s health insurance, food assistance, medical research, disease prevention funding, disability insurance, and even college student financial aid while watering down consumer protections to give Wall Street investors a $100 billion windfall. Trump’s budget proposal to slash funding for vital health assistance programs has been described as “ruthless” and would exact a huge human cost from those who lose access to care.

    Far from being a jobs savior, Trump’s economic agenda has faced heavy criticism from economists for relying on “voodoo” economic theories that falsely claim tax cuts will lead to economic growth. Research from the nonpartisan Congressional Research Service and Brookings Institution have found no link between tax cuts and economic growth. Economist Jason Furman has also slammed Trump’s tax cut agenda for proposing to add trillions of dollars to the federal debt in ways that could hamper economic growth. Trump’s tax proposals have been blasted by economists and experts across the political spectrum, who have argued that his restrictive approach to international trade and immigration, if enacted, may actually dampen economic activity. Even Trump’s proposals to reduce supposedly burdensome regulations in the financial industry fly in the face of facts -- Trump has proposed dismantling the Dodd-Frank Act, but the Government Accountability Office concluded in 2016 that Dodd-Frank protections have “contributed to the overall growth and stability in the U.S. economy.”

    Fox figures have attempted to use the monthly jobs report to advance the president’s agenda since he first took office. Fox used the reports to claim unearned victories for the president, and even once used a jobs report described as “weak” to declare it was “the most successful day” of Trump’s presidency. Last month, a Fox Business panel attempted to spin the April jobs report as a reason to pursue Trump’s tax and regulatory policies with no evidence to back up its claims. Next month will likely produce more of the same.

  • TV News Scrutiny Of Ivanka Trump’s Conflicts Of Interest Spurred By New Bombshell

    Trump Apologists Continued To Deflect Concerns Over Conflicts And Corruption In The White House

    ››› ››› ALEX MORASH

    Broadcast and cable news programs heaped additional scrutiny on Ivanka Trump in the hours after The Associated Press broke a bombshell report that the lifestyle brand she owns had secured valuable trademarks in China before she met with the Chinese president for dinner at her father’s private Mar-a-Lago resort. News of the glaring conflict of interest between Trump’s role as a White House adviser and her private business empire was carried by the major broadcast networks --ABC, CBS, NBC, and PBS -- as well as CNN and MSNBC. Fox News ignored the issue entirely during its evening and prime-time programming, and longtime Trump apologist and former Fox host Greta Van Susteren actually defended Trump during her program.

  • STUDY: How TV News Ignores The Prescription Drug Price Problem

    Evening News Programs On Cable And Broadcast News Rarely Cover Escalating Drug Prices

    ››› ››› CAT DUFFY

    A Media Matters review of weekday evening news coverage on cable and broadcast networks since December reveals that the evening programs largely ignored the problem of escalating prescription drug prices in the United States, even though lawmakers have introduced legislation aimed to address the issue.