Latest news with #CharlesGasparino
The Herald Scotland
14-05-2025
- Business
- The Herald Scotland
Trump balks on China tariffs and lies about trade deal win
That was the theme for "The Apprentice," Trump's NBC "reality television" show that so thoroughly distorted his past that many Americans were duped into thinking he was a bright business operator (and not just a fortunate son born to a wealthy father). And that's the story President Trump is still sticking to. This framing helps explain his weird and rambling White House schtick on Monday, May 12, before he boarded Air Force One for a trip to the Middle East. Trump spoke for about an hour, bragging about an executive order to lower the cost of prescription drugs (which he lacks the power to enforce), a "trade deal" with China (which was really just him backing down from ill-conceived and stupidly executed tariffs), and the biggest proposed gift from a foreign country to America in history (which Trump got defensive about because of how openly corrupt the concept is). That's a lot, right? Let's break it down. Trump makes toothless proclamation on drug prices Trump's executive order set a 30-day deadline for the pharmaceutical industry to voluntarily lower the prices for drugs used by Americans or else he'll sic the federal government on them. As with all Trump plans - spoiler alert: There is no real plan - he was all over the place with his claims, promising price drops of 50% to 90%. This from a president who just sucked the air out of every retirement account in the country by setting off, and then pausing, and the setting off, and then pausing again, a trade war over tariffs. Again, there is no real plan here. But there is diversion at play. Trump would much rather have you trying to figure out what his intentions are with drugmakers than have you focus on how House Republicans are taking a hatchet to Medicaid in an attempt to salvage his attempt to extend his 2017 package of tax cuts. Opinion: Trump and his do-nothing Republicans face 'one big, beautiful' bust of a budget Does Trump remember his first term as president? Because he tried something similar, though on a smaller scale, with drug pricing then. And a legal case brought that to a swift halt. The terrible betrayal here is that Americans really do pay more for drugs than people in other countries. A responsible president would work with Congress to fix that problem. But that's not Trump's narrative. Actual work, creating plans and then putting them in action, is for suckers when you can declare victory and then jet off on a state visit to Middle East countries that have a vested interest in making you feel like a winner. Trump didn't make a great deal with China. He backed off. It would have been more fun if Trump had flown to China. On May 11, Trump blinked in his game of economic chicken with China, cutting for 90 days reciprocal tariffs of 125% that he had placed on products from that country while keeping in place tariffs of 30%. Asked at the White House if those tariffs could shoot back up in 90 days, Trump seemed open to that idea (because he has no real plan). Charles Gasparino, a senior correspondent for Fox Business, summed this up nice and neat in a social media post that went viral before Trump spoke at the White House: "Trump raised tariffs on the world, the markets, particularly the bond market - which we need to finance our debt - rebelled. Trump then was forced to back off. End of story." Remember Trump's reality-bending narrative here. There is no end to the story where he isn't a winner. Opinion: I asked Team Trump why they now hate a 'woke' bill he himself signed into law Trump's biggest story comes in the form of a gifted jet from Qatar That will absolutely be a distraction during his travels as Trump insists on accepting a $400 million Boeing 747 jet from the family that rules Qatar. ABC News broke that story the day before he left on his trip. Naturally, Trump lashed out at the White House when an ABC News correspondent asked what he would say to Americans who view the jet as a personal gift from Qatar. "Let me tell you, you should be embarrassed asking that question," replied Trump, sticking to his narrative that he's always a winner and that anybody who sees it differently is some sort of loser. Sign up for our Opinion newsletter on people, power and policies in the time of Trump from columnist Chris Brennan. Sign up for our Opinion newsletter on people, power and policies in the time of Trump from columnist Chris Brennan. Get it delivered to your inbox The U.S. Constitution's Emoluments Clause is crystal clear that an American president can't accept a gift like a 747 "without the Consent of the Congress," which Trump likely knows he won't get here for his shiny new airplane. Trump's claim here is that he will use the jet until his term ends, then it will go to his presidential library. He also insisted that he would not use the plane when he is no longer president. If you buy that, you are precisely the type of fool who wants to fall for the fabrication. But the Trump story going forward from here is how he got a great gift for America (really for himself), and that only people who hate America (what he says about people who see him for who he really is) will cry foul about it. The question is, what percentage of Americans are willing to let his duplicity slide, and what percentage will call him out for it? The one thing we can know for sure is that Trump doesn't have a plan for what comes next. Follow USA TODAY columnist Chris Brennan on X, formerly known as Twitter: @ByCrisBrennan. Sign up for his weekly newsletter, Translating Politics, here.
Fox News
13-05-2025
- Business
- Fox News
'WE PROBABLY AVOIDED WICKED DISASTER': Charlie Gasparino Praises Trump's Tariff Pause
Charles Gasparino, FOX Business Senior Correspondent, New York Post columnist, and author of Go Woke, Go Broke: The Inside Story of the Radicalization of Corporate America , joined The Guy Benson Show today to break down a banner week for Trump's economy, and he highlighted falling inflation, a surging DOW, and a strategic pause on tariffs. Gasparino explained why the pause was necessary for economic stability and discussed Scott Bessent's bombshell revelation that Biden had ignored China's economic obligations. Benson and Gasparino also previewed new international trade deals expected to follow the UK agreement, signaling a broader global economic reset. Listen to the full interview below. Listen to the full interview below: Listen to the full podcast below:
The Independent
25-04-2025
- Business
- The Independent
Trump administration tipped off Wall Street execs about possible India tariff deal: Fox report
The Trump administration has been quietly tipping off Wall Street executives about the progress of tariff negotiations ahead of a possible deal with India, a Fox Business journalist reported Thursday. 'People inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India, according to my sources who are senior Wall Street execs with ties to the White House,' Fox Business reporter Charles Gasparino posted on X. The post drew howls of accusations of insider trading since Wall Street firms could take advantage of the information to make money on the stock market for themselves and their clients that the public is not yet privy to.. SCOOP: People inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India, according to my sources who are senior Wall Street execs w ties to the White House. No details on timing, and recall that we have been here… — Charles Gasparino (@CGasparino) April 24, 2025 Bloomberg reporter Joel Weisenthal snapped back on X that the story isn't the India deal, but the fact that the White House appeared to be first tipping off Wall Street ahead of the public. Why are Wall Street executives getting early alerts from people inside the Trump White House about the status of trade negotiations?' he asked Wall Street analyst Gordon Johnson asked: 'Why are Wall Street executives getting inside information from inside the White House? Why does the SEC [Securities and Exchange Commission] allow this? And given they do, shouldn't they just be disbanded? Or is enforcement only for the poor?' The feeding of new inside information to Wall Street comes just over two weeks after Trump bragged in the Oval Office about the killing on the stock market his billionaire pals made when he pulled the plug on his tariffs just hours after he imposed them. 'THIS IS A GREAT TIME TO BUY!!!!' he gushed on Truth Social just four hours before he paused the controversial tariffs on April 9. The initially sinking market ultimately closed more than 9 percent higher that day. At the White House Oval Office later that day, Trump pointed to a pair of billionaire visitors. 'He made $2.5 billion, and he made $900 million! That's not bad!' said a beaming Trump, pointing to financial investor Charles Schwab and then NASCAR team owner Roger Penske. The men were part of a visiting guest contingent of mostly racing notables. Schwab is estimated to be worth $12.9 billion and Penske $5.6 billion. Bloomberg reported that Wednesday was the 'best day ever' for billionaires as the world's wealthiest people raked in $304 billion when the markets rocketed back up. The windfalls quickly triggered accusations of market manipulation and insider trading, as Trump critics accused the president of tipping off his well-heeled friends to buy, knowing that a suspension of the tariffs on his own order would boost stock prices. California Democratic Senator Adam Schiff is calling for a congressional investigation into the well-timed tariff pause. 'Trump is creating giant market fluctuations with his on-again, off-again tariffs. These constant gyrations in policy provide dangerous opportunities for insider trading,' Schiff wrote on X at the time. A White House spokesperson accused the Democrats of playing 'partisan games' after calls for an investigation.
Fox News
24-04-2025
- Business
- Fox News
Charles Gasparino: Potential Trade Deals Could Be Coming in a Matter of 'Days'
Charles Gasparino, senior correspondent for FOX Business Network and author of Go Woke, Go Broke: The Inside Story of the Radicalization of Corporate America , joined The Guy Benson Show today to break down his recent reporting on potential trade deals aimed at navigating the Trump tariff battles currently rocking U.S. relations around the globe. Gasparino described the volatility rattling the stock market as reports and even social media posts send it soaring or plummeting. He also warned that if Trump initiates a trade war with China, it could ultimately do more harm to American farmers than it does to Beijing. Listen to the full interview below! Listen to the full interview below: Listen to the full podcast below:
Yahoo
11-04-2025
- Business
- Yahoo
U.S. Stock Market Breaks Records, but History Points to Bearish Signals
The Nasdaq closed 12% higher on Wednesday, marking its second-largest gain in history, following President Trump's decision to pause the implementation of tariffs for 90 days. Strategy (MSTR), one of the fastest-recovering stocks and a component of the Invesco QQQ Trust, Series 1 (QQQ) ETF, surged 25%. Meanwhile, the S&P 500 climbed nearly 10%, recording its third-largest single-day gain—surpassed only by two days in 2008. While this may seem bullish on the surface, it's worth noting that the Nasdaq's three biggest rallies occurred in 2001 and 2008—both during recessions and followed by new lows. Similarly, the S&P 500's two larger green days were also during the 2008 financial crisis. Investors should be aware of bear market rallies. There's growing speculation about why Trump backed off on tariffs. Globally, rising bond yields were rattling markets. According to FOX Business Senior Correspondent Charles Gasparino, the pressure in the bond market may have stemmed from Japan selling bonds—not China, as many had assumed. As the market rallied, the VIX (Volatility Index) closed at 34, registering the largest one-day percentage drop in its history, surpassing the 2010 record. Bitcoin (BTC) also saw a spike, briefly rallying above $82,000. However, it remains within the downward channel it has followed since January. Sign in to access your portfolio
