News & Politics

Fox Business Contributor Freaks Out on TV After Trump Causes Dow to Drop with Tariff Announcement

“The president, and I guess now the Republicans, they don’t even understand what trade is."

Photo Credit: Fox Business Network

After President Donald Trump announced steep new tariffs on steel and aluminum, conservative trade proponents were livid. The more than 400 point drop in the Dow didn't help matters.

Hedge fund manager Jonathan Hoenig may have had the best response. Hoenig appeared on Fox Business Network and delivered an epic rant against Trump, becoming so agitated he got tongue-tied.

“The president, and I guess now the Republicans, they don’t even understand what trade is,” Hoenig nearly shouted. “Trade is win-win. That’s why we do it, and Americans have benefitted tremendously from their trade with China—I mean, look around your house.”

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“This is just cronyism, the idea that the president has to protect steel, protect this group or that group,” he continued.

“Forget that whole idea of ‘drain the swamp,’ get rid of cronyism. That’s exactly what the president did," Hoenig said. "He’s charging you and I more to buy farm equipment, a can of soda, a car, to help these favor industries. That’s not what America is about.”

Watch the segment below.