Rupert Murdoch wanted Donald Trump to change her mind on prices.
He therefore communicated the best way he knows how: through Fox News.
This is the point to remember that I obtained on Wednesday morning when I saw FOX programs clips lift the alarm.
Here is Steve Doory on “Fox & Friends” relaying the history of a small American business overwhelmed by prices in China:
Fox News tells a story a small business owner who paid $ 26,000 in prices on goods imported from China, but now faces a price of $ 346,000 due to the new Trump rate at 104% on Chinese imports.
“We believe that China will have to pay for it. An importer of toys needs needs – when … pic.twitter.com/bcdbluggm
– Ron Smith (@ ronxyz00) April 9, 2025
And on Fox Business, here is the CEO of JPMorgan, Jamie Dimon, said in the host Maria Bartiromo, it is “likely” that the United States will go to a recession.
Bartiromo: “Do you expect a recession personally?”
Jamie Dimon, CEO of JP Morgan, “I’m going to get back to my economists at this stage, but I probably think. It is a probable result.” pic.twitter.com/rwe70xzmpu
– The Bulwark (@bulwarkonline) April 9, 2025
Let us sign why it is important: Murdoch has many media. Some of them – notably the Wall Street Journal – criticized Trump at various times, including in the first months of Trump 2.0. And Trump definitively sees part of this cover (see this photo of Trump by reading the New York Post of Murdoch during the weekend.)
But the Murdoch point of sale that counts most for Trump, by far, is Fox News.
He not only inhales Fox’s cover, but also equipped his administrations with Fox hosts and people he looks at on Fox. Which is one of the reasons why Pete Hegseth is now the defense secretary. This is also why people who want to go to Trump reserve in programs like “Fox & Friends”, which the executive meta Joel Kaplan did in January, to announce the pivot of the company to politicians adapted to Trump.
And generally, Fox’s people say things about Trump that Trump likes to hear. (A notable exception: when Trump complained that the 2020 elections had been “stolen”, Fox initially resisted this story, which prompted Trump to raise the rivals of Fox like Newsmax, which adopted the invented history of Trump. Fox quickly pushed the story of Trump – which ended up costing the network nearly $ 800 million in a defamation combination.))
It is therefore remarkable to see a Trump decline on Fox Networks, the end point. After the markets passed out after Trump’s pricing announcements last week, Fox generally supported the movements or ignored them.
But Wednesday, when I saw Fox question Trump’s pricing war twice in the morning? It made me think that there is there.
What effect did it have? Good question.
After consuming Dimon’s interview on Wednesday morning, Trump focused on (what he thought) was the advantage of the cat: “” The fixing of trade and prices is a good thing! “Jamie Dimon, Jpmorgan Chase, Chairman and Chief Executive Officer, on Maria B Show!” He posted on Truth Social.
But a few hours after that, Trump announced that he was going to keep prices on China but break them everywhere else, sending the markets.
You can imagine many reasons why Trump may have changed his mind – in particular, a series of deeply negative indicators suggesting a scary class of investors. And we don’t know where it’s going to. The thing that I am most sure: he will continue to watch Fox.
businessinsider
