Fox Business correspondent Charles Gasparino challenged the network’s portrayal of President Donald Trump’s 90-day delay in a controversial tariff policy as strategic brilliance, instead suggesting that significant financial market pressures influenced the decision.
During several appearances on April 9, Gasparino rebuffed Fox News anchors John Roberts and Sandra Smith, who had suggested that Trump’s decision was consistent with his “art of the deal” philosophy. The network had presented the delay as a calculated move to spur international negotiations amid economic concerns linked to the administration’s aggressive tariff approach.
“Let’s be clear about what happened, who capitulated here and why,” Gasparino said. “I don’t want to say this because I am a patriot, I am an American, but it is the White House that capitulated, based on everything I hear and all my sources.”
The 90-day pause, announced on April 9, was part of a revised U.S. trade policy approach. Under this new framework, the administration suspended a set of tariffs that were set to affect a broad range of imports. While significant tariff increases on Chinese goods — now raised to 145% — remain, other countries will continue to face a 10% reciprocal tariff, with no immediate expansion as initially proposed.
Fox News initially described the pause as a negotiation tactic following reports that up to 75 countries had shown willingness to engage with the U.S. on trade. However, Gasparino questioned these claims, noting that no formal trade agreements had been reached with any of those nations.
“If you read between the lines, and not even with what [Treasury Secretary] Scott Bessent said, we have no deals, right?” Gasparino said. “There’s nobody that is really there saying this is what we’re going to do. And they paused it anyway.”
Gasparino also highlighted financial pressures influencing the administration’s decision, particularly large-scale overnight sell-offs in the bond market. Citing sources, he noted that sell-offs by key U.S. allies, including Japan, reflected diminishing confidence in the administration’s capacity to stabilize the economy with the current trade policy.
“If you have a mass sale of bonds, that means people are losing confidence in the U.S. economy, on the ability to do deals with us,” he said. “It’s the bond market and the sort of lending markets that’s the plumbing of the economy, and those markets were imploding last night.”
The tariff pause led to a market rally on Wednesday, with stock indices recovering from earlier declines. White House Press Secretary Karoline Leavitt and Treasury Secretary Bessent publicly supported the revised strategy, presenting it as a temporary recalibration.
Gasparino praised Bessent’s role in shaping the decision, describing the Treasury Secretary as more adept at deal-making than other officials, including Commerce Secretary Howard Lutnick and trade adviser Peter Navarro. According to Gasparino, Bessent has assumed a leading role in the White House, shifting the focus from imposing tariffs to prioritizing deal-making.
The administration has not dismissed the possibility of reimposing the full range of tariffs after the 90-day window, depending on ongoing negotiations. Officials continue to frame the strategy as part of a broader realignment of U.S. trade priorities aimed at safeguarding American manufacturing and agriculture.
Despite the administration’s statements, Gasparino’s remarks highlighted internal divisions and the influence of economic indicators on trade policy decisions. His on-air criticism underscored a rare moment of dissent within the network’s coverage of the president’s policies, drawing attention to the complex relationship between political messaging and market realities.
The tariff pause occurs amid broader concerns about the global economy, ongoing inflation, and uncertain international relations, all of which have intensified focus on the potential risks of comprehensive trade restrictions.
